Today in the connected economy, clothing retailer Abercrombie & Fitch tests a new concept store called The Getaway, designed to appeal to younger consumers.
Also, the CEO of Blue Apron says its customers don’t seem fazed by higher prices, and the co-founder of Whole Foods plots his post-retirement career.
Rise of Concept Stores Continues as Abercrombie Tests New ‘Getaway’ Brand
Clothing retailer Abercrombie & Fitch (A&F) will test a new store concept called The Getaway this week, a project meant to convey a sense of getting away from it all with merchandise and store experience contributing to the vibe.
A&F said the concept is meant to capture the feel of preparing for a long, stylish weekend, with merchandise geared towards millennial and Gen Z shoppers.
“We want to make every day feel like the start of a long weekend and offer an assortment that meets those needs, said Carey Krug, the company’s head of marketing.
Blue Apron CEO: Meal Kit Customers Take Price Increases on the Chin
Price increases implemented by Blue Apron have not made much of an impact, the meal kit company said when discussing its latest earnings.
Blue Apron President and CEO Linda Findley told analysts the company has examined which factors have customers pulling back and which have surprisingly little effect.
Studying the behavior of those who “choose not to order” from the company, “through focus groups, through surveys, and through really detailed data analysis,” Blue Apron has determined that pricing actions haven’t had a negative impact on sales.
“We’re very clear on the difference between the pricing change and macroeconomic factors, which helps us think about our communications and our marketing programs and our pricing really effectively,” Findley said. “And we do know that a big part of what we’re seeing is macroeconomic as opposed to being directly related to the pricing change.”
Whole Foods Co-Founder Launching Restaurant, Wellness Chain
The co-founder of Whole Foods Market is set to launch a series of vegetarian restaurants and wellness centers following his retirement from the Amazon-owned grocery chain in September.
John Mackey’s Healthy American wants to open a national network of restaurants and wellness centers that provide spa and fitness services.
Company literature refers to Healthy America as “an evidence-based lifestyle company, leading the convergence of culinary, healthcare, and wellness. For the first time ever, we are bringing together all three under one roof, to meaningfully transform the health and wellbeing of individuals.”
Crypto Compliance Officers Face Added Pressure
Cryptocurrency compliance officers and legal professionals are under increased pressure as their industry faces added scrutiny, as well as worries that regulators will hold them personally responsible for issues at their companies.
That’s according report from The Wall Street Journal, which said that these professionals face greater personal liability but few of the resources available to people at traditional financial firms.
“There is more risk because there is no clear rulebook,” Jeff Horowitz, chief compliance officer at crypto custodian BitGo, told the Journal.
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