Category: Business of Fashion

Did You Go To The Stores On Black Friday?

Louis Vuitton 5th Avenue

So, Black Friday came and left. Did you go out to stores on Black Friday or just shop online? According to Adobe, U.S. consumers spent a record $6.1 billion online up 8.8% from last year’s $5.6 billion. I know I’ve been shopping online for years now with an occasional trip to a store. Some retail stores have been promoting in-store only merchandise to drive foot traffic but mostly, shoppers seem to be online. Cyber Monday sales totaled about $13.3 billion with a whole cyber week that followed.

Credit card debt continues to soar to $1.17 trillion during the third quarter with a buy-now pay later mind frame. It marks the highest level on record since 2003. Did you buy your gifts on a credit card? All of this shopping is great for the economy but Black Friday in-store shopping just doesn’t generate the huge crowds of the past as many retailers ran promotions well ahead of Black Friday.

What is the future for holiday shopping? Sheerine Reid, senior director of commerce marketing at Coveo, said “AI… enables personalized product discovery and providing tailored recommendations through rich content. Specialized gift guides can help shoppers find the perfect items for everyone on their list, but with AI, you can go even further and start to understand a shopper’s intent, much like an in-store associate would.” With rise of AI and e-commerce, those Black Friday in-store fights might come to an end soon. What do you think?

Sincerely,

“Fashionably-Late”

Malinda Frances Knowles

Bargain Shoppers

Hey y’all, how are you doing? So I’ve been working at the outlet mall and notice so many people bargain hunting and even looking for Christmas presents early. A lot of folks come to the outlet mall looking for a deal, duh. But, with inflation hitting a high of 9.1% in July, many shoppers are doubling down on their expenses and looking to alternatives. 

According to Women’s Wear Daily, consumers “with issues paying their monthly bills has increased 2 percentage points to a high of 23 percent” while the share of consumers living paycheck to paycheck without issues paying their monthly bills “is currently 40 percent — the same as July 2023 but a notable drop from 44 percent in May 2024.” This truly reflects the number of families stepping into the store looking for quality merchandise at a discount. Everything in the store is almost always discounted at at least 20% percent but honestly, it is a pricing model to get consumers to feel as though they are getting a sale instead of just lowering original prices.

In any case, the outlet mall might receive more or at least the same amount of traffic as the Gardens Mall (25 minutes north of outlet mall) in Palm Beach Gardens, Florida. I am not sure. What about you, have you been spending on clothing and accessories at full retail price or bargain shopping as well?

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Saks Global: Neiman Marcus, Bergdorf Goodman and Amazon

What happens when you blend luxury retail giants, a pandemic and the rise of e-commerce? You get the new Saks Global. That is, I’m sure you may have heard by now that Saks Fifth Avenue bought Neiman Marcus for $2.65 billion dollars. Amazon has thrown their weight around joining the merger as they have tried brick-and-mortar stores Amazon Style to no success. Amazon will probably help streamline the stores, but will it take away the identities of such luxury dealers? 

I used to go to Bergdorf Goodman when I was living in Manhattan and always made my way to the 5th floor pausing to eat at the lovely restaurant on the 7th floor. Shopping there was a special experience like no other, in my opinion. How will Saks Fifth Avenue preserve the uniqueness and originality associated with buying from Bergdorf Goodman? I remember when Amazon took over Whole Foods and while some things have changed, Whole Foods still sources locally and features smaller brands.

What do you think will happen with the new Saks Global?

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Artifical Intelligence and The World of Fashion

So I’m sure you’ve seen the new AI images or heard about the usage. From generating nude images of celebrities like Taylor Swift to artists that use it as a creative expression, it just might takeover the planet. Instead of hiring models, AI images can suffice for ad campaigns and e-commerce models. The images pictured here are from the brand Stradivarius, who wanted to exaggerate the real collection. Is this the end of real photography and models? Only time will tell. And the government will have to find a way to deal with AI nudes that are being generated as well. What do you think?

Sincerely,

“Fashionably-Late”

Malinda Knowles

Future of E-Commerce

So, years ago I said I wanted my own brick and mortar store to sell some of my designs and art merchandise. Well, I am not upset that I never opened a store (not to say it might not be in my future) but for now, e-commerce is great.

Did you know that by 2026, 24% of retail purchases will be done online?  The global e-commerce market is expected to total over $8.1 trillion dollars by 2026. No one can argue that online shopping isn’t easy even though folks abandon their shopping carts over shipping fees or slow delivery times. Amazon has the highest market share of all e-commerce accounting for about 38% of all online sales. Next come Walmart, eBay and Target.1

I’m almost positive that 2020’s Covid epidemic also boosted online sales as many people tried to avoid interacting with others. And, of course, Cyber Monday and Black Friday seriously grows every year. Last year, Adobe Analytics reported a record $9.8 billion in Black Friday sales and $12.4 billion for Cyber Monday.2 Anyone selling anything these days would be foolish not to also sell online.

Now, don’t get me wrong, the in-store experience will always be there. Trying things on, having a sales associate fetch a different size or help style you will always have its appeal. But as we go about this thing called life, I would have to say, getting a package in the mail excites me just as much or even more than going into stores. What do you prefer?

Sincerely,

“Fashionably-Late”

Malinda Frances Knowles

  1. Baluch, A. 2023, Feb. 8. 38 E-Commerce Statistics Of 2023. Forbes. 
  2. Masters, K. 2023, Nov 29. 6 Trends That Shaped 2023’s Black Friday- Cyber Monday Results. Forbes.

A Few Sketches

Hey! So what’s going on? I’ve been caught up with some of my own issues in life. Lot of rumors going around- be careful with jealous people especially in your own family. But, anyway, do you like some of these sketches? They are from the past and I have some sketches inspired by my Bob Marley “Songs of Freedom” painting. Many have told me that they love the painting and would definitely be interested in seeing some of my products inspired by the painting. Would you? If so, send me a message or comment below. Am looking for an angel investor. Let me know if you know one. Have a good night!

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Four Things About New York Fashion Week Spring/Summer 2020

So it’s New York Fashion Week again and I’ve been loving some of what I’ve seen so far.

Here’s four things about this season’s NYFW that have left me in awe.

  1. The shoulders at Tibi. Shoulder pads aren’t going anywhere.
© IMAXtree.com

2. The music/piano handbags and almost all black model cast at Pyer Moss. I mean what a way to make a statement. Of course, the entire show was the final of a trilogy, paying homage to Sister Rosetta Tharpe.

© IMAXtree.com

3. Ear cuffs and earrings at Prabal Gurung. Just. epic. 

Photo: Filippo Fior / Gorunway.com

4. Croptops at Tom Ford reminiscent of Beyoncé‘s “Yoncé“ video. And can we mention that it was on a subway platform?!

© IMAXtree.com

Keeping my eyes peeled for more. Enjoy the last day!

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Black and White on the Runway for Fall/Winter 2019

Jeremy Scott

So black and white are a classic color combination. But who knew we would spot so much of the combo on the runway for the Fall/Winter 2019? While there has definitely been a good bit of color injected into the season, we’ve seen almost entire collections like Jeremy Scott feature the classic color combination. Longchamp, Area and more featured the color combo. See more below!

Area
Self-Portrait
Esaú Yori
Longchamp

Photo Credit: © IMAXtree.com

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Did You Watch the Debate Last Night?

061715-hillary-clinton-pantsuits-lead

Did you watch the debate last night? Hillary Clinton wore a fire-red pant suit as per her usual and threw jabs with Trump last night. Her pant suits are a little boring but work well for her political persona. Pant suits can be very comfortable, I hardly ever see Hillary in a dress.

Anyway, are you registered to vote? It’s National Voter Registration Day. Make sure you’re ready for November 8th, a big day in America. Register here if you aren’t already registered.

To shop suits similar to Hillary’s, click here.

Sincerely,

“Fashionably-Late”

Malinda F. Knowles

Why Loehmann’s is Going Out of Business

loehmanns1

So, as you may know Loehmann’s has officially bit the dust declaring bankruptcy for the third time last month. They listed assets of $100 million and debt of $500 million with no real prospective buyers. Loehmann’s was the last true off-price giant standing.

As a kid, I remember going into Loehmann’s with my mother and late grandmother who would show me tags with the dramatic discount marked with “original price” markers. There was an air of excitement when we went to Loehmann’s and we always seemed to come out with something special. Over the years, we stopped going into Loehmann’s and I remember the store becoming somewhat of a mess with home goods being sold and all kinds of things unrelated to its original womenswear premise. I stopped enjoying the store and that was the end of it.

Here’s a few things to remember about Loehmann’s:

1) Frieda Loehmann and her son Charles opened their first store on Bedford Avenue in Brooklyn

2) Frieda would always pay cash for purchases for the store and was reluctant to open up any more locations

3) The company filed for bankruptcy three times, each time pledging to appeal to a younger audience, revive their image and stand out against competition

4) Loehmann’s had a website but did not jump on the e-commerce bandwagon until late 2011

5) Online flash sale sites like Gilt Groupe and Rue La La upended their business model of selling off-price season old merchandise

The company indeed made many terrible mistakes but in a world of cheap, fast fashion where quality is being sacrificed for price, a store like Loehmann’s simply could not stay in business. The retailer will go down in history and hopefully, the fashion world will return to valuing quality merchandise sometime soon.

loehmanns

Sincerely,

“Fashionably-Late”

Malinda Knowles