LOWES ONLINE SHOP: There’s a reason low-cost brands are selling their wares online.
They’re gaining ground.
STORE TRACKER: A lot of people are buying online, buying stuff on-demand and using the sites to shop.
Fashion retailer Forever 21, for example, is on track to post $4.7 billion in sales in fiscal 2016, according to a report from Bloomberg.
The chain was also the top seller on Amazon.com, with an estimated $5.7 million in sales for the fiscal year ending March 31.
Forever 21’s sales surged 40% in the last 12 months, the company said.
In December, it posted its second straight year of year-over-year growth in the category.
The chain has also opened its online store in the past year to attract shoppers who would otherwise have opted for brick-and-mortar stores.
In a January interview with Bloomberg, co-founder and CEO Chris Dunn said online shoppers want to be able to shop for things that they’re comfortable with.
They also want to shop with ease.
But they don’t want to pay extra.
For example, they don`t want to have to get out and pay for their groceries online, Dunn said.
And they want the same prices they can get in stores.
Dunn said the company has begun to offer a wide range of items that are typically sold at full price.
Forever21 sells a wide variety of clothing, shoes, hats, accessories and jewelry.
It also offers products from fashion designers such as Dior and Ralph Lauren.
“We have a variety of items in our store that are priced competitively, and we`ve started offering a wide selection of items for our customers,” Dunn said in a Jan. 20 interview with The Wall Street Journal.
He said the store has grown more than 600% since its inception in 2009.
The company is still expanding its online shopping and is expanding its footprint in other ways.
Dunn said the online shop will offer products that are not normally available at stores, including some items that were not available at retailers.
In addition, Forever21 is testing its own online store that it will launch in early 2019.
It is expected to offer items like shoes, jeans and other clothing.
The retailer is also in talks with the likes of Amazon, Best Buy, Target and eBay.
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