NEW YORK — When it comes to shopping, consumers are looking for two things — a quality product and a value price.
This was the conclusion of a roundtable discussion by leading industry executives: Paul Fitzpatrick, executive vice president and general manager of men’s and children’s apparel and accessories at Macy’s West; Vanessa Castagna, executive chairman at Mervyn’s, and Chris Fuentes, vice president of marketing at Nautica. The event, held last Wednesday at Parsons School of Design here, was a precursor to the Young Menswear Association’s Annual Scholarship Fund Awards Dinner on Jan. 11, which will honor these executives as well as Denise Seegal, president of VF Sportswear Coalition Nautica.
Castagna, whose career in the industry includes top posts at Wal-Mart, J.C. Penney and Target, said when a large mass retailer shifts its focus, the rest of the industry follows.
“Wal-Mart is focused on value; now, they are trying to do that with fashion, and I think they can do it. They can do anything they want to do, really,” she said. “The challenge for them is to take those consumers they already connect with and get them interested in the apparel they offer.”
Castagna said she believes Mervyn’s is in good shape for spring selling and that competition from larger retailers is healthy.
“It forces us to raise the bar,” she explained. “We need to add even more value and appeal to our customers. It forces us to keep changing and moving forward.”
Fitzpatrick agreed, saying retailers such as Federated Department Stores Inc. need to recognize the changes in the way people shop. Back-to-school, for example, used to be a large season, as students needed to replenish their wardrobes for the fall. Now, he said, that isn’t the case.
“These customers don’t wait for back-to-school to buy what they want,” he said. “They buy what they want, when they want it. Back-to-school … what does that even mean anymore?”
Fuentes agreed, stressing the excitement shoppers get from purchasing something they want badly.
“I see it in women’s handbags, shoes and status jeans,” he said. “They go to the store and think, ‘I see, I want, I buy,’ no matter what the time of year it is.”