Why middle-tier retailers are suffering as high and low-price stores thrive
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- Опубликовано: 25 апр 2024
- The once-popular clothing store Express filed for bankruptcy along with the arts and crafts retailer JOANN. They're just the latest middle-tier retailers to suffer as demand for high-end and budget stores grows. Jordyn Holman, business and retail reporter for the New York Times, joined CBS News to discuss the trend.
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Express was too expensive to be considered “middle” tier.
Expensive and basic.
Pretty much. They never meet in the middle.
Not to mention the quality and selection of their clothes hasn't been that great over the last few years. Their dress shirts rip easily and their colors bleed easily in the washing machine.
@@Dakid015 Usually.
I don't think Express is expensive, but it is expensive for what it is,
Middle tier clothing needs to make better clothing. To be honest, they charge way too much for their quality.
That is a fact!
When the fabric content of middle tier is lower quality than Costco, why pay a premium? I see Express as an expensive H&M; cheap, fast fashion clothing but at a higher price.
The mid tier price market is comprised of crappie quality products that does not match the asking price.
As someone who works in the fashion industry, I think the quality of the mid-tier brands is a factor. Many of the brands started trying to compete with the fast fashion brands, both in pricing and speed of delivery, without having the appropriate systems and scaling to do so, so cheaper raw materials had to be utilized. They all tried to do this with “old” operating models. That put them at a financial disadvantage once the pandemic hit. The next problem that’s hit a lot of these companies is the fact that people don’t really have to “dress” for work like they did even a few years ago and culturally Americans are just not as formal as those in other countries. I think a lot of people have simply lowered their clothing volume as they move to more sustainability overall. There’s a lot of waste in fashion and maybe there’s really a need for the industry to retract.
Express was a product of its time but never adapted to the current shopping environment. Ten years ago it was fine to spend 60 on a nice shirt of 100 on jeans. But now you can find similar items elsewhere at fractions of their prices. And because it’s cheap you then buy more clothing in volume and don’t expect it to last beyond the season you’re wearing it. And when trends change you just go buy more clothes.
Also younger generations tend to dress up less than previous generations as Athleisure have taken off. Blue jeans, which have been a staple for Express are being ditched for sweats and leggings. GenZ’s fashion shifted and Express didn’t.
The new styles are great ✨
Can they just say that their is no more middle class, your either the few rich or the majority poor. Don't know why they are beating around the bush.
True! They’re widening the wage gaps and we can see that in California. They praise the poor and allow them to run chaos hurting the middle class causing them to flee to TX, NV, and AZ. They have super rich and super poor. I think there’s something going on we are not paying attention to.
Truth
Sorry but people shopping at Kohls/ Macys/Express aren’t lowering standards down to Walmart. Maybe Target. 😂
Target is Walmart with a better layout.
@@emerybayblues And better white label products
So a different better store
@@emerybayblues Nah Walmart is out here trying to be everything but provide quality clothes it does not. I honestly haven’t shopped either for clothes if I’m looking for good deals I just go to a Goodwill I can find good quality jeans for like $7.99, $5.99 if I’m lucky.
I think it in part, comes down to customer service. These mid-price retailers have disengaged sales staff, crappy fitting rooms or messy displays. So you either go to the discount stores where your expectations of service are lower so you’re not surprised that you don’t get great service but you save money or you go high end and at least get decent or better service.
Listen express is still one of my favorite brands. I only started shopping there in 2020.
And the clothes hold up !
Because there is starting to be a divide between the haves and the have nots. The middle class is dying, and there will only be poor and rich, it's disgusting.
Its always been that way
Damn… I really loved Express. I hope they’re still around.
They're stores are still around. Their quality and selection of clothes lately just hasn't been what it used to be in the early 2010s. That problem along with what's going on in the economy is what's hurting them tbh.
@@OS1540 Good point. And I’ve noticed the quality differences between the Extra Slim Fit Dress Shirt I bought in the early 2010’s and compared the ones I bought later in that same decade. The differences are very obvious. They need to up their game.
Express was expensive Period charging 30 dollars for a tank top And 70 for dress pants is ridiculous
My daughter will only wear what is popular at her school...so yes, if I try to buy her something from a different label/store she won't wear it!
There is not middle class, I think is very simple
There could be a middle class if ppl. stopped giving their income away to companies. There are plenty of lower wage, blue collar, frugal millionaires but you wouldn't know them if you saw them.
Kohls and jc penny is middle tier not express.
When considering that the top tier is compromised of true designer lines (e.g., Chanel; DVF; Chloe), every mall store is middle tier or low tier. Express is middle tier. Even Ann Taylor, Banana Republic, and J.Crew are middle tier. Top tiers are selling their most basic blouses, blazers and pants for $500+ per item, and you won’t find them in a shopping mall in a random small-medium sized city.
I love Express my opinion, they are the best. They are overall affordable. They sell both work clothes and going out. I don’t want them to go out of business. I like TJ Maxx and Marshalls, but express is so much better.
Express was fine when people were spending more for clothing. Now we expect clothing to be cheap and disposable. Because it’s cheap you don’t intend to keep it after the current season and when clothing trends change you just go and buy for the current season. And I’ve found that GenZ doesn’t dress up as much as older generations, and they don’t dress the same. I know a lot of them don’t like to wear jeans and that’s a staple for express
You might notice at Express that their quality and selection hasn't been what it used to be in the early 2000s. More what you can get at an affordable price is now in their clearance section. The colorful designs and prints are now replaced with more of these solid gray and beige like colors. Also their clothes rip easily and colors bleed in the washing machine. don't know why they haven't done anything about this but I assume that's kind of hurting their brand too.
Not to mention Express quality and selection in the last few years hasn't been that great.
Boycott Walmart
Nah most of those stores don't have anything worth buying anyways. Relics of the past.
I am a shareholder, but I don't give them my business, Walmart is too expensive.
The middle class is getting squeezed. Those extra dollars that could’ve gone towards hobbies and unnecessary new clothes are going towards necessities.
The middle class died so the mid tier retailers were bound to as a result. The economic divide is getting bigger in this country.
Middle classes dead
Middle tier?!?! They’ve always been too expensive to be considered middle tier
Because what is middle tier in pricing 🤔😔
Express Jeans should be 40$ not 120$
Express clothes are boring to me now.
Great! I love Macys! I hope it doesn't go!
They are closing a lot of locations
Policies and legislation that artificially raise energy and labor costs invariably lead to disproportionate inflation and create the two tiered market.
Very well said!
High End Fashion and Fast Fashion..Mid Fashion no😂
A sign of improved computer literacy.
I feel my perception of these stores have been all wrong. For me, Walmart, Ross and TJ Maxx were like bargain bin stores. JCPenney’s, Kohl’s, Macy, was low income. Then you had the higher ends like Nordstrom, Bloomingdale’s. And of course the wealthy shopped at Niemans etc. Never would have considered Express to be mid tier until recently with a lot of their price increases.
Macy's depending on the location can be more in the middle.
Traditional Department stores have never been considered low income, people who make under 30K couldn’t afford to shop there. They are aimed at middle class shoppers
Bidenomics
Better than when Trump tanked the economy and added 8 trillion to the national debt.
Bidenomics