Presentation on theme: "Industry Profile: Specialty Retail Travis Newton Truett Shaw."— Presentation transcript:
Industry Profile: Specialty Retail Travis Newton Truett Shaw
Who? What? Why? Specialty Retail is a part of the retail sector that is primarily concerned with niche segments, mainly Generation Y (7-24 y/o) Gen Y makes up roughly 25% of the total U.S. Population. (72.9 million) Gen Y-ers are categorized as trend-savvy, sophisticated, fickle, and particular-we know what we want. What the young kids are wearing these days…at least according to the analysts…super short mini skirts, sheer tops, vintage surf, terry cloth, velour, 80s glam and punk,etc…
A Generation Born to Spend In 1995 teens spent an average of $66/week. In 2002 the number went up to $87/week In 2002 teen spending reached nearly $170 billion
This Season Specialty retail is cyclical so it is very important to know what is going on NOW with the industry. The buzz has begun to build about the Holiday season, and so far things are looking up. Holiday sales are supposed to grow 5.7% this year to $217 billion! The Good: Cold weather requires a new wardrobe Stores are staying on top of trends Increased consumer optimism and pent up demand The Bad: Spending concerns, job security, energy costs are high, have the child tax credits been spent already?