The teen retailer, Abercrombie & Fitch, frequented by preppy and status-conscious kids, has gone out of style. No matter how much it believed—and banked on—that kids would never, ever, ever abandon its stores filled with sexy clothes and half naked men, they did, and in record numbers.
It tried to ride out the recession maintaining its high prices, an arrogant mindset that turned off its customers. Most other marketers were listening to customers and acting accordingly, some by lowering prices, others by adding value, offering money saving options and suggestions or reworking messaging to relay compassion to worried, cash-strapped customers.
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