Children’s apparel retailer, Carter’s, plans to open 50 new physical stores this year – a key part of their larger growth strategy to open 1,000 additional locations by 2027.
The company believes their best channel for customer acquisition is brick-and-mortar stores, especially when they’ve seen a significant dip in online traffic and high-margin sales. E-commerce is predicted to bring in around 33% of Carter’s total sales this year, down from 37% in 2022, reflecting a broader market trend.
“We believe our stores provide the very best presentation of our brands and are our highest source of new customer acquisition. And when we open stores, we also see a lift in our high-margin ecommerce sales,” said Carter’s CEO, Michael Casey.
Carter’s has high hopes for 2023 and beyond when it comes to their brick-and-mortar growth plans. Consumer confidence is in a better place, and sales are predicted to increase with a larger physical footprint.
The company has noticed the clear shift towards brick-and-mortar and is reacting quickly and positively towards this change.
“We view the consumers shifting back to stores positively, given the high fixed cost structure of that channel,” Casey added.
Source: Carter’s – MultiChannel Merchant
Photo Credit: Carter’s – MultiChannel Merchant
