With a quarter of holiday shoppers planning to spend more this year than last, retailers can start to celebrate. In its second year of research into holiday shopping plans, analytics company SAS polled 3,458 consumers in the U.S., Canada, the U.K., Australia and New Zealand. The U.S. led spending growth with 29 percent of consumers saying they'll spend more. Canadian shoppers, on the other hand, are tightening their budgets this year. Millennial shoppers (ages 18 to 29) are most likely to up their spending this year, while older consumers are tending to stick with last year's budget.
Given the vicissitudes of the world's textile and apparel supply chain, China is changing its strategy to counter what Chinese experts describe as the "new normal." That has direct impact on textiles in the United States.
As most shoppers have experienced, ordering clothes online can occasionally be a shot in the dark – not every item fits the way they'd hoped, nor does every color match the description exactly. This not only annoys consumers, but also retailers when those disgruntled customers send their unwanted items back.
President Obama announced nearly $500m in public-private investment to strengthen American manufacturing by investing in cutting-edge technologies through a new, textiles-focused manufacturing institute competition led by the Department of Defense, and by sharpening the capabilities of small manufacturers through Manufacturing Extension Partnership competitions in 12 states. The White House, as detailed in a new report, is also launching a Supply Chain Innovation Initiative focused on building public-private partnerships to strengthen the small U.S. manufacturers that anchor the nation's supply chains.
A third (35 percent) of businesses in the manufacturing industry are extremely concerned about potential supply chain disruption, according to research released by BSI, the business standards company and the Business Continuity Institute (BCI).
A push to reshore apparel manufacturing and technical skills is steadily taking hold in the United States. Industry organizations, as well as academe and suppliers, are identifying areas for job creation, inventing new ways to think about apparel production and building incubators that nurture a budding apparel workforce via expert tutelage and business advice.
In recent years, a growing number of retail RFID use cases have clearly demonstrated the benefits of being able to track inventory at the item level, leading to better shelf replenishment and fewer out of stocks. Many retailers quantify the benefits of reducing out of stocks not just at the item level (potential lost sales) but at the transaction level, since retailers closely track the number of items that comprise the average transaction (e.g. 3.6 items/sale). Using that example, an out-of-stock item (especially in a core category such as denim) could result in lost sales of an additional 2.6 items that were to be purchased with it.