The Retailing Industry, Which Has A Warm And Fast Fashion Brand Gap, Has Been Repeatedly Sluggish

How to enhance the attractiveness of Gap brand and enhance sales to promote sales gradually will be the first challenge for him.

Global retail

In the backdrop of warmer weather, fast fashion brands are in the doldrums.

Recently, american apparel retailers and leisure fashion giant Gap group released the first quarter financial report for the 2018 fiscal year ended May 5, 2018.

Data show that the brand's Gap brand performance continued to slump, the group's gross margin fell 20 basis points to 37.7%.

In the report, the group also assumes that there are many "operation" problems in the brand itself.

A few days later, the Gap group announced that Neil Fiske, which has excellent past achievements in reforming and reshaping the brand, has taken over this February, and the original Gap brand CEO Jeff Kirwan.

Neil Fiske will report directly to Gap Group CEO and Art Peck on the 20 day of the new year.

Reforming the brand or becoming the new CEO is the top priority.

When introducing the background of Neil Fiske, Art Peck said that Neil Fiske has experienced and outstanding achievements in reforming and reshaping the brand, which is what the Gap brand needs most.

Statistics show that Neil Fiske is experienced in the retail field.

He has been an important executive position of many leading companies in the world, such as partner of Boston consulting company, CEO of Bath & Body Works, Eddie Bauer Holdings Inc of outdoor apparel retailer, CEO and many other leading companies in the world.

However, Neil Fiske after taking office is very stressful.

Gap brand has been very depressed recently.

In the first quarter of 2018, because of the unsalable sales of the brand, dragging down the Gap group's performance, many Wall Street institutions lost confidence in it.

How to enhance the attractiveness of Gap brand and enhance sales to promote sales gradually will be the first challenge for him.

Online sales slump in the doldrums, digitalization highlights

However, even in a declining trend, the Gap brand is not a bright spot.

It is very worthwhile to be sure that the long-term distribution of the online sales and digital operation of the brand is also the main reason why some market organizations still support Gap group.

Analysts at Zacks, a US investment research firm, feel that Gap is gratified by its focus on promoting digital marketing, improving product acceptance and improving product quality to cope with changing consumer trends.

Art Peck said in an external statement that Gap's future online business will reach $3 billion.

China alone

Look, Gap is also trying to further open up online and offline, competing with other fast fashion brands and e-commerce providers for young consumers.

In July 2017, Gap launched a joint venture with WeChat and became a hot topic in the circle of friends.

In addition, they also invested heavily in the digital pformation of physical stores. For example, in August last year, Gap, which was described as "world wide shop", opened a China flagship store in Nanjing West Road, Shanghai 863.

The store's main business is the change of shopping experience, such as mobile service stations, children's amusement parks and other areas, which reflect the upgrading of services, while electronic touch-screen and LED model fitting screen and other digital products will further enhance the shopping experience.