According to the New York Times, large national chains are are making major shifts in their business strategies due to the recession. Below is a summary of the strategies mentioned in this interesting article:
- Greater personalization and regionalization of merchandise ("My Macy's")
- Fewer brands to choose from (Wal Mart, Target, Home Depot)
- Stores are more willing to run the risk of selling out of merchandise by carrying less inventory
- Seasonal transitions of merchandise will have shorter lead times
- More partnerships with prominent designers in order to have exclusive merchandise
- Integration of online and in-store shopping
- Increased focus on highly attentive, personalized customer service
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