* Over the past several months, Gap has hired a new group of executives and redone their management team. This is a huge deal in the retail world! You know that when the executive team is being changed, the company is trying to do something new.
* One would have to assume this executive change is due to the company trying to change its ways. It was announced that by the 2013 fiscal year, Gap, Banana Republic, and the Old Navy brands will be lead by a single executive to reach a new level of global brand management. With over 3,200 stores in 40 countries, the Gap Inc has been expanding and going global. The goal is to blend the divisions of North American, international, online, outlet, and franchises to improve their market.
* Gap Inc is the first to take ad space on Metro cards. The front of the card says "Be Bright NYC" and the back gives you 20% to the store. This is a FAB way to get "plastic retail estate" or "commercial ad space". Gap has recently redone their store on 34th and Broadway so this was an ingenious way to get their name out as they are trying to get customers into this store. These subway cards are available at ten stations which were selected to their proximity to the stores and the frequency of riders.
Working in the city, has made me become a subway rider. If I can get a discount at Gap for riding the subway then I am all in! The blue and yellow subway card may be iconic for NY but in this age of advertising it is another way to get your company name out. The majority of NYers/ tourists use public transportation and will be using a subway card. It is a great way for these companies to get their name out since everyone flashes their subway card to get through those turn tiles. Every time you want to ride the subway you will be reminded of Gap, then how you have a 20% discount and will want to go shopping!
* Gap has yet another shocker for an industry that is obsessed with youth: their average customer is 39 years old! It is no secret that the fashion industry and retailers cater to the younger generation, this age is considered "old" for this industry. For a retailer to come out and say this average age can be suprising but refreshing. 39 is NOT old, many women are just starting a new journey in their life at this age. With the economy in shambles, most people are not becoming successful until their 30's. Also, most people are waiting to start families and a 39 year old can have a baby/ toddler without it being frowned upon. Much kudos to Gap for being loud and proud for their average customer being 39. They are being business smart since by that age more people are just becoming successful and are able to spend money. With most adults being parents, Gap offers them to shop for themselves (their look is more clean and professional) as well as their kids.
* Yet another change coming from Gap: a new website! I admit, I am not a frequent online shopper/ browser of Gap. However, when I found out that they had a new website I had to check it out. When I opened their home page, I was greeted with this eye candy! Always a great thing to see when you first open the webpage. I have to say, I really am loving their website. I found it clean and easy to find whatever you were looking for. Also, they have all their other brands at the top that brought you to that website. I am a fan of that feature so I know what their other brands are part of the company.Gap definitely seems to be revamping its image! Between the subway cards and target age group, their business plan is fascinating. Their advertisement techniques and these new execs could bring the company back to the top of its game!
