Men's Warehouse has found a strategy that is working for them:
The mark of any good retail company is that they are clear on who their customer's are and what their strategy is for getting and retaining those customers. There are only two truly successfuly strategies in retail: take the low-cost position (which Men's Warehouse is doing in men's suits) or sell a unique product your competitors do not (and cannot) offer.
During the Internet boom of the 1990s, men traded suits and ties for polo shirts and khakis. More recently, as the economy has faltered, there has been some renewed interest in traditional business attire, but falling consumer confidence has reined in spending.
Last year, men bought more tailored clothes, but at lower prices than before. Sales of men's tailored clothing fell 1 percent to $4.7 billion in 2002, but units sold rose 5 percent, according to market research firm NPD.
Men's Wearhouse has capitalized on this trend by selling designer-like suits at prices "better than anyone else's," said Marshall Cohen, co-president of NPD Fashionworld.
The mark of any good retail company is that they are clear on who their customer's are and what their strategy is for getting and retaining those customers. There are only two truly successfuly strategies in retail: take the low-cost position (which Men's Warehouse is doing in men's suits) or sell a unique product your competitors do not (and cannot) offer.

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