Weekly Insights Nov 11, 2016

Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” takes a look at the Singles’ Day shopping fever that will engulf China and much of the rest of the world this November 11.
• As consumers begin their holiday shopping earlier, retailers are ramping up holiday promotions. Industry experts urge retailers not to panic yet over consumers’ continued reluctance to splurge on apparel and accessories. However, many retailers are finding that they have to sell goods for less, and most are saying that they are discounting at the same rate as a year ago.
• Amazon’s apparel sales grew by 5% in October year over year and by 85% month over month, according to One Click Retail. Growth in the men’s category was particularly strong. Amazon’s traction in its apparel business is mostly in basics.
• Nike has opened a space called the Kicks Lounge in the Costanera Center mall in Santiago, Chile. The 4,434-square-foot store is the first Kicks Lounge in the region and the sixth in the world. Chile has become a hub in Latin America for sneaker culture, and the specialty store will offer exclusive Nike sneakers not found in other locations.