Photo “HandM” by Mike Mozart is licensed under CC BY 2.0.
Swedish fashion retailer H&M is making a strategic move to attract holiday shoppers by focusing on lower prices and a broader selection of trendy clothing. The announcement was made on September 26, 2024, as the company aims to enhance its appeal amid changing consumer preferences.
In a bid to boost sales, H&M plans to offer “more trendy items” rather than just basic apparel. This shift is part of the company’s broader strategy to rejuvenate its brand and attract a younger demographic, particularly as consumers increasingly seek fashionable yet affordable options.
The company has noted that the retail landscape is evolving, with customers becoming more discerning about their purchases. To address this, H&M is also enhancing its online shopping experience and expanding its product range to include more festive attire.
H&M’s strategy comes as many retailers face challenges due to inflation and shifting consumer behavior. The company is optimistic that its approach will resonate with shoppers looking for style without breaking the bank this holiday season.
For further details, you can find the original article at Reuters.
Sources:
[1] https://www.vogue.com/fashion-shows/fall-2024-ready-to-wear/hm
[2] https://www2.hm.com/en_us/holiday-shop.html
[3] https://www.hm.com/za/
[4] https://www.reuters.com/business/retail-consumer/hm-bets-lower-prices-trendy-clothing-boost-holiday-sales-2024-09-26/
[5] https://www2.hm.com/en_in/sale.html
[6] https://www2.hm.com/en_asia3/sale.html
[7] https://www2.hm.com/en_ca/holiday-shop.html
[8] https://www.youtube.com/watch?v=ZSpuTMwPig4
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