Following today’s news (Monday 15 October) that Claire’s is mulling UK store closures,
Kate Ormrod, Lead Retail Analyst at GlobalData, a leading data and analytics company, offers her view:
‘‘Having continually lost relevance in the jewellery and accessories market, the news that Claire’s is seeking to rid itself of stores is no surprise – with the move long overdue. A failure to sufficiently evolve its proposition lies at the root of its problems, ensuring it falls short of what today’s shoppers are looking for.
“Indeed Claire’s struggles to compete on fashion appeal and product newness when compared to clothing specialists such as Primark and New Look, while its niche shopper base of tweens and young teens also makes it hard to drive footfall and sales given their limited funds.
“Closing loss-making stores and investing in its remaining branches will help to modernise its brand image and enhance the shopper experience. However, the retailer will achieve little unless it overhauls its product proposition and streamlines ranges to avoid duplication and an overwhelming instore environment.”
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