Fashion News Roundup

Happy new year! I thought I'd try out something new on the blog in celebration of a new year. I just completed a retailing class at my university. I fell harder in love with retailing, my future career, and my mind has become the mind of a retailer in business. My course emphasized staying up to date on what's happening in the industry and my commitment to this is what helped me earn my stellar grade. Class is over, but my dedication has remained the same.
I've come across a few articles about retailing lately that have really peaked my interest.
So here's my first fashion news roundup!

1. Everlane's New Sale Lets You Choose How Much To Pay - Everlane is known for their "radical transparency" allowing customers to not only know where their clothing is made but also what the factories are like and how the fabric is obtained. It has become the face of ethical fashion. Consumers are becoming more conscious about where their clothing comes from and what they are paying for. Everlane offers basics without the traditional markup in pricing. Everlane just launched their first sale. In a twist, Everlane allowed customers to choose between 3 prices. One price was significantly lower, one was somewhere in the middle, and the third was only a few dollars less than the original price. The customers can choose how generous they feel when picking the price. It is a unique social experiment as well as a retail experiment. I've thought a lot about what price I would choose to pay in this situation. Would I choose the lowest price to benefit my bank account or the highest price to benefit the company? For me, when shopping sales I expect a significant discount. This makes the highest price less desirable to me. If I were to shop a "pay what you want" sale I believe I'd pick the middle price.
2. Project JUST Reveals How Ethical Your Clothes Really Are - As I mentioned above, Everlane is a pioneer when it comes to ethics and transparency in retail. Project JUST launched in order to help customers gain this information on other stores but also to help spur conversation between shoppers, designers, and brands on the issue of ethics in fashion. This is a trend that is not going away any time soon. Now that consumers are more well aware of the issues I believe retailers will have to shift their focus to include ethics as well. Fast fashion became immensely popular with stores like Zara, Forever21, Primark and H&M. A customer can get a basic t-shirt for $4 but is that worth it knowing your shirt was made in a sweatshop? Project JUST aims to educate and initiate conversation. So far there are stores like Everlane and Warby Parker on the site but the company has plans to expand to 150 brands by spring.
3. TJX Corp CEO Named Retailer of The Year - I have always admired TJX as a company (TJX owns T.J. Maxx, Marshalls, HomeGoods, and Sierra Trading Post in America). I fully believe in the retailer's deliverance of coveted designer brands for less and the always fun treasure hunt experience shopping there. No matter the state of the economy, TJX remains a strong company because the thrill of a designer bargain never fades and because of their strong management. TJX's CEO Carol Meyrowitz is entering her last year as CEO but has positioned the company for continued success beyond her exit and has been named Forbes' Retailer of the Year. Meyrowitz has loads of accolades including being ranked multiple times in "Most Powerful Women in Business" lists. I think it is truly inspiring to see a woman in leadership of such a successful business. For me, it is especially inspiring because it is the retail business.

There's my roundup! I hope you enjoyed :) I'm curious - what would you do in a "pay what you want" sale like Everlane's? And what are your feelings on Project JUST? Let me know in the comments!