I needed a new pair of boots this weekend after the Boston area was hit with an unexpected two day snow. I wanted to get some classic LL Bean “Bean Boots” I checked their website and they are sold out until March 14th. Luckily I went to their new store in Dedham, MA and they had one pair left that were returned as a wrong size earlier in the day. The store associate said they had been sold out of most boots and slippers since a couple of weeks prior to Christmas. The store was packed on a snowy Sunday two weeks after Christmas. What does this say about what Americans are willing to spend their money during the tail of the great recession?
Brands that back up their products with service and reliability (think Apple and Patagonia as well).
Here are some of the promises that L.L. Bean makes to consumers:
Brands with a unique offering that you cannot find every where and does not go on sale.
This is why I will not be surprised if Macy’s files for bankruptcy in the coming months. What do they offer that is special or what old department stores used to? They are too far down the “we stand for noting” path to return in their current state.