Payless Returns from Bankruptcy as an Online Retailer: Business Casual
Millennials saw another piece of their childhood die off last year when news revealed the reliable back-to-school staple, Payless Shoesource, was filing for bankruptcy. The affordable shoe store chain could not survive the ecommerce boom and shuttered over 2,000 brick and mortar locations.
Powered by RedCircle
But, an announcement on Tuesday revealed Payless is making a phoenix-like comeback. The brand is returning to the market with the same values, community and affordability, but with an all new range of products including shoes, apparel, and accessories. Reflecting the expansion in merchandise, the company plans to drop “shoesource,” from the name. Payless intends to start online in ecommerce, with plans to open 300-500 new stores. The stores will reflect the shift toward the experience economy and feature technology like touch screens, smart mirrors, and augmented reality.
Hosts Daniel Litwin and Tyler Kern on this Business Casual snippet as they analyze Payless’s new business model, as well as how they plan to reach consumers looking for value in the middle of a pandemic.
For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Latest
Mastering AV Sales Strategies: A Diverse Market Requires Understanding Individual Needs
Mastering AV sales strategies in a global professional audio-visual (Pro AV) market, poised to reach $79.2 billion by 2028, requires much attention to detail. The surge in demand from corporate, government, and institutional sectors, driven by the need for enhanced productivity and efficient working environments, gives AV sales pros a lot of opportunity. In […]
Cybersecurity in Healthcare: Addressing the Growing Threat
To keep up with the growing threats, cybersecurity in healthcare is a high-level priority. The recent ransomware attack on Ardent Health underscores a stark reality for the healthcare industry: cyber threats are a significant and ongoing challenge. Mike Saylor, the CEO of Blackswan Cybersecurity, LLC, sheds light on the complexities of cybersecurity in healthcare. […]
Effective Debt Management Holds the Keys to Small Business Cash Flow and Growth
Effective debt management through a robust accounts receivable system is essential for small business cash flow and growth, necessitating automated payment schedules and strategic policy adjustments. Collaborating with a collection agency as a strategic partner can enhance revenue recovery while preserving positive customer relationships. How critical is effective debt management for the financial health […]
