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Primark, a low-cost, European apparel chain, is the fastest-growing retailer in the United States, according to a report from the National Retail Federation's Stores magazine, which used sales data from Kantar Consulting.
It currently has nine stores in the US but does not sell its products online.
Primark - Business - Model - Prices - E-commerce
Primark's business model of offering rock-bottom prices does not lend itself well to e-commerce, executives say.
Primark is the fastest-growing retailer in the United States, but many Americans will never have the chance to shop there.
European-headquartered - Clothing - Chain - Sights - Expansion
The European-headquartered cheap clothing chain has set its sights on expansion in the US. Since 2015, it has opened nine stores along the East Coast, and it has more in the pipeline. It's the fastest-growing retailer in America based on year-over-year domestic sales growth — US sales are up 103% year-over-year, according to a report from the National Retail Federation's Stores magazine, which used sales data from Kantar Consulting.
However, Primark's national reach is severely stunted by the fact that it doesn't sell its products online. Its website is meant purely for browsing items; to make a purchase, you'd need to head to one of its stores.
Primark - Growth - Business - Model - E-commerce
Primark isn't out to hinder its own growth, but its business model doesn't lend itself well to e-commerce, according to company executives.
The retailer tested out e-commerce in 2013, selling its products on ASOS' website. This test was expected to turn into a long-term partnership, but it promptly ended after 12 weeks.
Reason - Executives - E-commerce - Primark - Prices
The reason executives are so adverse to e-commerce is that Primark offers rock-bottom prices, and as a result, it has meager profit margins. If...
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