New York—With major retailers’ third quarter earnings due out next week, there’s apprehensive in the air. So far, even the stellar reports from Michael Kors and Kate Spade come with a hint of warning—and lower forecasts than analysts had expected. Not helping the trends toward holiday were October retail comps, described as lackluster and less than estimates predicted.
Retail Metrics, a research firm, blamed warmer weather that kept consumers from buying winter wardrobes, not to mention a dooming “uninspiring fashion” description of current merchandise.
There are definitely bright spots on the horizon. Namely, the growth of wearables, tech accessories that will purportedly help us lose weight, stay on budget, see movies, etc. The majority of potential customers–53% of Millennials and 54% of early adopters say they are excited about the future of wearable tech, according to an extensive study by PwC’s Consumer Intelligence Series.
Besides using wearables for entertainment, “consumers, especially Millennials, desire wearable technology in the retail space to reward them for being faithful customers. One in two Millennials said they would be strongly motivated to wearables if it ‘has apps/features that reward those who frequently use it.’”
The Wearables survey among others made this week’s Top 10 online news articles: