While taking chances may be a well-known financial investment strategy, retailers should also be paying attention to the adage “the bigger the risk, the greater the reward.” That was the advice of Greg Petro, CEO of merchandising platform First Insight, during his presentation at the FN CEO Summit in Miami today.
“Whether you’re trading stocks or bonds — or shoes — the concept applies,” said Petro. “As risk increases, returns should increase.”
In particular, Petro emphasized that the men’s sneaker market had responded very positively to innovation and that brands should continue to explore that area of product development. Comparatively, women’s shoes are seeing a positive upward trajectory in full-price sales across the board, while kids’ remains consistent.
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