Tag: Amazon

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

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.