Today, in the connected economy, clothing retailer Abercrombie & Fitch is piloting a new concept store called The Getaway, aimed at appealing to younger consumers.
Also, the CEO of Blue Apron says his customers don’t seem put off by higher prices, and the Whole Foods co-founder is planning his career after retirement.
The rise of concept stores continues as Abercrombie tests the new Getaway brand
Clothing retailer Abercrombie & Fitch (A&F) will this week test a new store concept called The Getaway, a project designed to create a sense of getaway, with merchandise and in-store experiences adding to the vibe.
According to A&F, the concept aims to convey the feeling of getting ready for a long, stylish weekend, with merchandise geared towards millennial and Gen Z shoppers.
“We want every day to feel like the start of a long weekend and offer a range that meets those needs,” said Carey Krug, the company’s director of marketing.
Blue Apron CEO: Meal kit customers resent price increases
The price increases implemented by Blue Apron have not had a major impact, the meal kit company said while discussing its recent earnings.
Linda Findley, Blue Apron’s president and CEO, told analysts the company has studied which factors are holding customers back and which are having surprisingly little impact.
Blue Apron examined the behavior of those who “do not order” from the company “through focus groups, through surveys, and through really detailed data analysis,” and found that pricing actions had no negative impact on sales.
“We are very aware of the difference between price change and macroeconomic factors, which helps us to really rethink our communications and marketing programs as well as our pricing,” Findley said. “And we know that a lot of what we’re seeing is macroeconomic and not directly related to the price change.”
Whole Foods co-founder opens restaurant, wellness chain
The Whole Foods Market co-founder is set to open a suite of vegetarian restaurants and wellness centers after leaving Amazon-owned grocery chain in September.
John Mackey’s Healthy American aims to open a national network of restaurants and wellness centers offering spa and fitness services.
Company literature describes Healthy America as “an evidence-based lifestyle company spearheading the convergence of cuisine, healthcare and wellness. For the first time ever, we are bringing all three together under one roof to make meaningful changes in people’s health and well-being.”
Crypto compliance officers are under additional pressure
Cryptocurrency compliance officers and legal professionals are under increased pressure as their industry faces heightened scrutiny and fears regulators will hold them personally responsible for issues at their businesses.
That’s according to a Wall Street Journal report, which says these professionals face greater personal liability but have few of the resources available to people in traditional financial firms.
“The risk is greater because there isn’t a clear set of rules,” Jeff Horowitz, chief compliance officer at crypto custodian BitGo, told the Journal.
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NEW PYMNTS SURVEY FIND 3 OF 4 CONSUMERS WITH STRONG DEMAND FOR SUPER `PS
Around: The results of PYMNTS’ new study, The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy, a collaboration with PayPal, analyzed the responses of 9,904 consumers in Australia, Germany, the UK and the US and showed a strong demand for a single multifunctional super app instead of using dozens of individual apps.
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