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The days of waiting two years for fashion trends to trickle down from the runway to mass market retailers is over, Target Chief Commerce Officer Rick Gomez said at the NRF’s Big Show on Monday.
“That’s not the way it works anymore,” he said. “Things are moving much faster.”
- China-based fast fashion e-commerce platforms such as Shein and Temu have popularized speedy go-to-market strategies, but Gomez’s comments show that even mass retailers with large brick-and-mortar footprints are picking up the pace.
Previously, it took Target up to 27 weeks to bring a new product to market, Gomez explained, which was too long to respond to rapidly emerging fashion trends. So in response to this changing consumer environment, Target developed an operating model that allows it to bring some products to market in as few as eight weeks.
He cited a recent example in which Target had gone all-in on seasonal apparel featuring decorative bows, only to realize that shoppers wanted cherries on their holiday outfits. It then employed this new model to get cherries on their products in time for the holidays.
Gomez said this approach reflects a broader philosophical shift in retailing. “I think the next chapter in retail is going to be about innovation, newness, creativity,” he said.