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Small business dredging company9/16/2023 ![]() ![]() The vast majority of shoppers at both brands are women, and while Shein's popularity and image is most associated with a trendy Gen Z base, its average shopper is almost 35 years old. ![]() E-commerce is just a small part of TJX's business "We are confident that our relentless drive to bring consumers an exciting treasure-hunt shopping experience, both in stores and online, and an ever-changing mix of excellent brands at outstanding values will continue to be a winning strategy for us," TJX CEO Ernie Herrman told investors in a May 2018 earnings call.īut it's unclear whether that strategy is enough to stave off competition from digital-first brands like Shein who have garnered the attention and dollars of millennials and Gen Z shoppers. Sales from TJX's e-commerce platforms made up less than 3% of the company's total sales, according to TJX's 2022 annual report – at a time when Gen Z consumers like shopping online at least as much as shopping in person. The analysts added that they view new retail companies like Shein and Temu "as major threats to Off-Pricers," or stores that offer designer goods and brand-name merchandise at discounted prices. "Our view is as these rivals find new, more effective business tactics, this could be diminishing TJX's value proposition in the minds of consumers, especially since TJX's business model isn't evolving," the note said. Maxx, Marshalls, and HomeGoods, Sierra, and HomeSense, to face more competition as customers shift to online shopping. That's according to a new report from analysts at UBS, who said in a Thursday note that they expect TJX Companies, which owns T.J. Maxx has tread carefully into e-commerce, but growing competition from brands like Shein and Temu is posing a major threat to the beloved off-price retailer. Account icon An icon in the shape of a person's head and shoulders. ![]()
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