The Decline of Lane Bryant. What Happened? 10 Marketing Tips
The Decline of Lane Bryant. What Happened? 10 Marketing Tips
Lane Bryant, the plus-size apparel brand is going to close more than 150 of its stores owing to its parent company, Ascena Retail Group, filing for bankruptcy as discussed in detail over at runrex.com and guttulus.com. This article will look to highlight 10 reasons for what happened to Lane Bryant and what led to their decline, with the hope that it will help you and your business avoid the same marketing mistakes.
Increased competition in its space
While Lane Bryant was a pioneer in the plus-size industry, as is outlined in discussions on its history over at runrex.com and guttulus.com, it has faced increased competition in what has now become a crowded space. With more and more plus-size fashion brands for consumers to choose from, Lane Bryant has been under increased pressure to stay relevant, and it seems to have finally buckled under said pressure. This shows how important it is to stay ahead of your competitors if you are to remain successful.
Competition from non-specialty brands
On top of the competition Lane Bryant has faced from new brands in the plus-size industry such as Torrid among others as discussed over at runrex.com, the company has also come under increased pressure from retailers that don’t specialize in plus-size clothing such as Nordstrom, Walmart, Target among others, who have also recently expanded their size range. This has also meant that customers have a wide range of options available to them, and Lane Bryant has seen a decline in foot traffic that led to their decline.
The low aesthetic value of their offerings
Lane Bryant clothes have also been known for not being that pretty or attractive, which became more of a problem for the company as new brands came in and began to offer a great aesthetic value to go with the functionality of plus-size clothing. As is outlined over at guttulus.com, the fact that many of their customers began to view their clothes as not being pretty is one of the reasons that led to them fleeing for other brands, which is one of the reasons that led to their decline.
Playing it safe
Newer brands, as discussed over at runrex.com, have also put a lot of pressure on Lane Bryant by continuing to push the boundaries of what plus-size fashion brands can do. On the contrary, Lane Bryant was known for playing it safe and not doing nearly enough to innovate and be creative with their designs. This saw them losing their customers to these newer brands, which also led to their decline. This shows the importance of creativity and pushing the envelope, as if you play it safe, you will most likely be left behind by your competitors.
Lack of diversity
Even though Lane Bryant, as a plus-size apparel brand, offered diversity to customers when it came to clothing size, they still lagged. This is why, as is discussed over at guttulus.com, when new brands came into the market and began offering sizes up to size 40, Lane Bryant, which only offered sizes up to size 28 for their denim collection, for example, lost a large chunk of their customers. While they offered diversity, they still lagged, providing an opening for competitors to steal a match on them, leading to their decline.
Lane Bryant, and its parent company, Ascena Retail, has been chocking under the weight of crippling debt for years now, which eventually proved to be too much for them with the company filing for bankruptcy recently as discussed over at runrex.com. They were unable to service their debt, with the restrictions brought about by the coronavirus pandemic not helping matters. While debt is a part of business, this just goes to show the importance of keeping your debt levels in check if you are to survive and remain competitive.
Too many stores
Lane Bryant also had too many stores, which also became an issue for them, and eventually led to their decline, with over 150 of their stores set to close as covered over at guttulus.com. Too many stores meant that the company was struggling with rent and operational costs with reduced foot traffic, which was always going to be a problem. This shows how important it is to check one’s appetite for store space, even as you are looking to expand, as this is an issue that many businesses struggle with.
The decline in shopping malls
Lane Bryant’s heavy commitment to shopping malls also played a part in its decline, particularly as shopping malls are not as popular as they once were, as per the gurus over at runrex.com. Gone are the days when people used to view going to the mall as being cool and when shopping malls were full of people. A reduction in foot traffic as far as shopping malls are concerned, as more and more people opt for online shopping has damaged brands like Lane Bryant which had a large shopping mall commitment.
Failure to keep up with the latest trends
Gone are the days when the plus-size fashion industry was a niche industry, as the influx of new brands to the market has led to the growth of the industry, which means that it is now subject to the same trends seen in the fashion industry, as is discussed over at guttulus.com. Lane Bryant was slow to discover this, and fell behind the curve as far as the latest trends in the plus-size industry were concerned, from colors and creativity to variety in products offered such as swimsuits for plus-sized women and so forth. Before that realized it, it was too late, and it is yet another reason that led to their decline.
The growth of online retail
The company was also mostly committed to their brick-and-mortar stores, so much so that they failed to see the shift towards online retail. This opened up space for newer brands to usurp them, as they were able to offer consumers the option to shop online. The company was late to the online retail trend, and by the time they reacted they had already been left behind by competitors as covered over at runrex.com, which is yet another reason behind their decline.
The above are some of the reasons that led to the decline of Lane Bryant, with more on this and other related topics, as well as more marketing tips, to be found over at the highly regarded runrex.com and guttulus.com.