Today in retail, Victoria’s Secret and PINK Beauty debut an enhanced storefront with 120 new products, while Walmart calls on fashion designer Michelle Smith and indoor cycling instructor Stacey Griffith for its new Love & Sports activewear and swim brand. Plus, the U.S. Commerce Department says consumer spending was up 1.1% in March, and Vestiaire’s use of buy now, pay later (BNPL) helps it thrive.
Walmart Launches Love & Sports Activewear and Swim Brand
Walmart has launched Love & Sports, an exclusive activewear and swim brand created as part of the retailer’s partnership with fashion designer Michelle Smith and indoor cycling instructor Stacey Griffith. The rollout includes 121 women’s activewear and swim items. The collection is available in sizes XS to XXXL for activewear and XS to XXL for swimwear. The activewear line is available on Walmart.com and will be in 1,500 stores, while the swimwear is coming to the stores and online in the next several days.
Victoria’s Secret and PINK Beauty Add 120 Products to Amazon Store
Victoria’s Secret has added about 120 Victoria’s Secret Beauty and PINK Beauty products to Amazon’s store through the Victoria’s Secret storefront. Among the products for sale in the VS Amazon store are fragrances, mists, lotions, body scrubs and wash scents.
Consumer Spending Jumps 1.1% in March, Inflation Up 6.6% YoY
Consumer spending across the U.S. was up 1.1% in March, the Commerce Department said. The spending boost was led by increased cash outlays on travel, dining, gasoline and food, although spending on durable goods dropped for the second straight month, led by a dip in vehicle buys. Personal income — including wages and government assistance — was up 0.5% month over month in March, while overall inflation jumped 0.9% from February and 6.6% year over year when food and energy were included (up 5.2% without them).
How Vestiaire Collective Uses BNPL to Make High-End Fashion Accessible to All
The global health crisis and resulting economic pressures have not stopped consumers from acquiring couture and high-end fashion. As with many other markets, pre-owned fashion retailers have found success selling via online and mobile platforms and growing their global footprints through eCommerce marketplaces. Expanding reach around the world has also meant adopting various payment options, including buy now, pay later (BNPL). Enabling consumers to purchase luxury and couture fashion while living within their budgets is top priority for Paris-based Vestiaire Collective, a global online marketplace for selling and buying desirable pre-owned fashion items.
