Brands that once seemed indestructible have been falling left and right.
For example, Sears, a once well-known and beloved American company, has closed over 529 stores in just the past 3 years and hasn’t shown any profits since 2010. Toys R Us, another seemingly untouchable retail brand, now famously declared bankruptcy.
What everyone once knew about how to effectively business watch has changed. Are you reeling after all of these recent changes to the market?
We can help. We’ve got a list of 3 trending brands in three very different industries to give you an idea of what types of retail brands are succeeding in 2019.
1. Fitness: Mirror
The fitness industry generates 30 billion dollars each year. One of the fastest growing sectors within this industry is online streaming of fitness classes.
That’s where the brand Mirror comes in. Mirror is literally that: a mirror. But it’s a full-length mirror that also streams fitness classes that you can view in the mirror right alongside your reflection.
Why is this so successful? Well, it allows customers to work out in their own homes (which is rising in popularity) as well as stream high-quality fitness classes (another recent trend).
2. Beauty: Glossier
The beauty industry generates over 445 billion dollars every year, which makes the 30 billion generated by fitness to seem like mere chump change.
Beauty brand Glossier has been steadily growing since its founding in 2014. In 2018, it hit an impressive 100 million dollars of revenue. The modern branding strategy combined with a business-savvy Millennial woman at the helm, the growth and image of Glossier is setting up to be a brand to watch for years to come.
They’ve also opened retail locations in LA and most recently New York with exciting plans for more stores and pop-up stores in 2019.
3. Clothing: Rent the Runway
We saved arguably the largest retail industry for last: clothing generates over 3 trillion dollars worldwide. But increasing consciousness on the effect of purchasing new clothes on the environment and human rights has pushed people to look for more sustainable options while staying affordable.
Enter the retail brand Rent the Runway. This company allows people to rent expensive and luxury clothing items instead of having to shell out thousands for a single dress.
This has already proved successful. But this company isn’t stopping there. In 2019, they plan to team up with clothing brands to rent out full stocks of inventory, which will likely lead to a rise in stock and profit for this fashion company.
2019 Business Watch: Keep These Three Brands On Your List
Confused how to business watch effectively now that the retail landscape has dramatically changed? Conglomerates and tried and true brands aren’t such a sure thing anymore.
These three retail brands have something in common helping them succeed: modern branding, technology, and understanding of Millennial culture.
Speaking of successful industries worth keeping an eye on, marijuana business is booming. Check out our article on the top pot stocks you should consider adding to your portfolio as they enter the retail market.