No one is shopping at H&M anymore. Sales and profits have been declining at the brand for a while. Sales declined by 20% last year while profits declined by 14%. Sales also declined for the first fiscal quarter 2018 as well as for Q2. The brand also announced earlier this year in February that it would close 170 stores. Customers are shopping more online than in stores but H&M just isn’t cool anymore.
H&M sells quite a lot of clothing but most of that clothing is just trendy clothing. Most brands that sell mostly trendy clothing sell a lot of it but H&M still sells styles it sold a couple of years ago. They may be a little different or in a different color but most of its clothing is still the same.
People are shopping more at Zara because the brand always has something new. It always has the newest trends and offers styles similar to classic styles by luxury brands.
The brand also might not be as cool as it was before because of people always accusing it of copying much like Forever 21. People want brands with original designs and don’t want to buy products from brands that copy. Zara, however, copies brands as well but the brand’s always releasing the newest trends as well as better quality are why more people shop there.
The brand says it’s closing stores because people aren’t shopping in stores anymore, but the brand is basically just not cool anymore. No one shops there because it’s not trendy like it use de to be. It’s cheap and is still a good place to get some things but people are going to trendier places.
They’re also saving their money so they can shop cooler, trendier, and more recognizable brands like Louis Vuitton and Gucci as well as for cosmetic brands like Kylie Cosmetics and KKW Beauty. They also save money for their collaborations.
The brand itself could also simply just not be cool anymore regardless of the style of clothing. Much like how Aeropostale isn’t cool anymore or how no one shops at J Crew anymore. The brand could sell the newest trends and sell styles similar to luxury brands but people might not shop there simply because it’s H&M.
I wouldn’t be surprised if the brand announced it was filing for bankruptcy. People, however, always shop more at one store than another. They shop at whichever store is trendiest and luxury brands are cooler than affordable brands.
So, what do you think? Do you like H&M? Let me know in the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
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