Which companies do you think were the “hottest” retailers for the year 2015? What caused them to be so successful? These questions were addressed in an article written by David P. Schultz for National Retail Federation’s website. He cited STORES Magazine’s August 2015 article Hot 100 Retailers 2015.
The top five companies of the 100 listed were:
Hudson’s Bay
Choxi.com (formerly NoMoreRack.com)
Zulily
G-III Apparel Group
Wayfair
Hudson’s Bay success came from the realization that there is still a place in the world for the traditional department store. Executive Chairman Richard Baker has assembled a conglomerate that will soon be operating in three countries on two continents.
Choxi.com’s success comes from offering deep discounts on an array of general merchandise.
Zulily’ flash sale strategy, with a no-return policy, brought the company great strength. A test program was initiated in May to allow some customers to return some brands of their products.
G-III Apparel Group, best known as a softgoods vendor to major department and specialty stores, acquires and operates stores under different names.
Wayfair is the umbrella for five e-commerce brands. Home furnishings and décor is their realm of business offerings.
Having balance sheets that allow for acquisitions and organic growth is one factor that permits success for the mix of companies that have made the top list, but these companies grow quickly because they understand what people are buying.
Do you know what your customers are buying? Staying connected to your customers with NCR’s Counterpoint CustomerConnect will help you track your customers’ buying habits and allow you to target your advertising to those most likely to buy your products. Opening an online store with Counterpoint’s Ecommerce will increase your sales from online purchasers.
For more information, all it takes is a call to CCS Retail Systems at 800/425-672-4806 or you can email us.