LIM Professor and Student Talk to Asbury Park Press about New Retailer
May 6, 2016
An article in the Asbury Park Press on the Dublin-based retailer Primark opening its first store in the U.S. in Freehold Township, New Jersey quoted both Professor Robert Conrad of the Marketing, Management & Finance Department and LIM graduate student Lot van Nunen.
Primark specializes in “fast fashion,” similar to what can be found at H&M or Forever 21, plus housing basics, putting them in competition with Target and Walmart. The article questions whether the retailer can compete in the already crowded big box U.S. market.
According to Professor Conrad, millennials have supported fast fashion, while Generation Z – the generation after millennials – tend to be more brand-oriented and status driven, factors that Primark doesn’t offer. “My feelings are that the market is saturated,” he says.
Lot, who is from the Netherlands, is quoted as saying that she believes there’s room for Primark in the U.S. “Even though there are many fast fashion retailers present in the current landscape, in Europe we have all these fast fashion retailers too, and still Primark is doing great business.”
“What they do have, apparently, is good value in their product,” Conrad said. “What they offer in their content is more than worth the price. That gives them a shot.”