Baker Retail Rundown

‘Absolutely a focus area for investment’: How Foot Locker is courting basketball fans

Foot Locker formed a multi year partnership with the Chicago Bulls in hopes to attract more consumers. This partnership builds off Foot Locker’s announcement of a strategy called “Lace Up,” in 2023, which includes basketball as a key part of the strategy to expand sneaker culture and expand their consumer base. Basketball is a reinforcement of their brand DNA, evident in partnerships with teams, in-store basketball concept called “Home Courts,” and investments in basketball clinics and community events. Basketball becomes Foot Locker’s focus of investment and as a part of the plan to bounce back from slowing sales. Moreover, they will be continuing to work with the WNBA with the increased attention to the women’s game.

Bloomingdale’s CEO on the Future of American Department Stores

Displaying products is not enough and rather it is the element of inspiration and discovery that attracts and retains consumers. Olivier Bron, the CEO of Bloomingdale, has implemented a growth strategy called Dream Big, focusing on updating stores, personalizing stores to specific markets, and investing in vendor relationships. Bron hopes for Bloomingdales to be a place for consumers to discover new brands and serve as a connection between the brand and consumer. Investments in in-store activations, brand-specific activations, and partnerships between brands will be critical. Bloomingdales has already begun doing this through their Italy themed campaign, “From Italy With Love,” in collaboration with over 150 brand partners, that features intensive in store makeovers with hundreds of Italy themed displays. Bloomingdales’ informal department store experience sets them apart from competitors such as Neiman Marcus, and Bron envisions Bloomingdales to be a local leader with a bottom up approach.

Urban Outfitters drops prices on over 100 styles

In early October, on top of the Urban Outfitters’ website page, a banner reads “We heard you. We were a lot. We’re lowering prices on over a hundred of your favorite styles.” Urban Outfitters’ target audience are young adults aged 18 to 28. The brand targets its audience through unique product mix, store environment, and social media. Previously, during Urban Outfitters’ August Earning call, the brand had acknowledged its need to respond to customers' perception of the brand as expensive. With the recent price drop on over 100 styles, Urban Outfitters acts on its commitment to offer best price points for their products.

Uniqlo: A Force Of Fabric In The Fast Fashion Sector

The parent company of Uniqlo, Japan’s Fast Retailing Co., reports a 25% rise in net profits to $2.5 billion. Uniqlo’s approach to fashion resonates with consumers. While fast fashion is usually associated with rapidly changing trends and styles at cheap prices, Uniqlo moves to an outlier position in fast fashion. Uniqlo focuses on quality and builds a reputation on creating essential products for everyday needs with an emphasis on functionality and longevity. Moreover, with a focus on fabric technology and high-quality materials, as shown through their popular HEATTECH thermal collection, Uniqlo has created a loyal consumer base. While Uniqlo is categorized as a fast fashion brand with its reach and affordability, Uniqlo defies the standards of fast disposal and fleeting trends in fast fashion. Although the CEO of Uniqlo does not define the brand as fast fashion, part of their business still relies on volume for market dominance. 

How New Balance’s ‘athlete-first’ approach to women’s sports partnerships is paying off

While brands like Prada sponsored individual players of the WNBA, in July, New Balance signed to sponsor the entire league as part of their goal to reach a younger audience. In 2024, WNBA has grown their generation z audience by 247% year over year. Prior to signing the entire league, New Balance tested their reach of generation z audience through a marketing campaign with Cameron Brink. The ads featuring Brink saw a 24% increase in engagement and another 10% increase when WNBA’s logo was added. Moreover, New Balance’s post on social media of Cameron Brink wearing new balance became their 4th most popular post. Women’s sports in the United States is expected to generate over $1 billion this year, and New Balance plans to expand its sponsorship of other women's sports leagues such as soccer and tennis.