The Paths to Growth: Know Thy Customer, Get a Niche, Innovate

Achieving growth in an environment as tough as this depends on carving a unique identity with distinctive products and services. Here are some ideas.

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10. PREPARE FOR INTERNET COMEBACKThe Internet has been a disappointment for retailers and e-tailers, but one significant trend bodes well for the future of apparel sales on the Web. Women are dominating online buying, now accounting for about 60 percent of people making purchases, debunking the long-running myth of male cybershoppers’ supremacy.“The Internet is still starting to come into its own,” said Kellwood’s Upbin. “It will become more and more meaningful. Department stores are struggling mightily with their bricks-and-mortar stores, discount channels reflecting price-consciousness are doing nicely and specialty chains are making a comeback, with the exception of Sears. The Internet will be part of the future and we’re exploring opportunities to be an Internet supplier. We have to.”
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