Retail: Strategies for Attracting Millennials

Offering low prices, promotions and discounts similar to those found in U.S. stores, is part of the bet that AR Retail seeks to attract customers, especially millennial, in the Costa Rican clothing market.

Monday, April 15, 2019

At the beginning of 2019, AR Retail, a company dedicated to the marketing of the brands GAP, Banana Republic and Old Navy, reported that it plans to invest $6.2 million over the next few years in the start-up of nine stores in the Greater Metropolitan Area.

See "New Investments in Clothing Stores"

Miguel Ramirez, vice president of operations at AR Retail, told that "... to compete in a market where millennials are increasingly less loyal to brands and seek to reduce spending on clothing, the bet is to offer very similar prices - on all three brands - that people can find when they visit stores in the U.S.".

You may be interested in "Clothing: Record Imports in 2017" and "Clothing: Top players in Costa Rica".

The article adds that "... The firm understands that the country's economic situation is not optimal for opening a chain of clothing stores, but is confident in its own indicators to maintain investment."

According to reports from CentralAmericaData, Costa Rica imports about $290 million a year in clothing and clothing accessories, and Central America is the second largest buyer, surpassed only by Panama.

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Under the brand of Tiendas Rechido, Corporación Megapaca opened its first store selling second-hand clothing in the city of Morelia, Michoacan.

The new store operating in the Mexican market will make available to the public 50 thousand garments and the business strategy of the business group is to enter the Mexican market as an environmentally sustainable fashion option.

Clothing and Accessories: New store in Costa Rica

March 2020

The American clothing and accessories brand Banana Republic opened its first store on Avenida Escazú and has a 300 square meter customer service area.

AR Holdings, administrator of the franchise, reported that this is the first of several stores that the conglomerate plans to open in the coming years in the region, specifically in Guatemala, Panama and the Dominican Republic.

Clothing: New Investment in Costa Rica

August 2019

The Colombian company Patprimo invested in the opening of two stores located in Curridabat and Escazú, with an estimated investment of around $800 thousand.

The South American company reported that the investment in the operation of the premises in Multiplaza Curridabat and Multiplaza Escazú totaled $800,000, and will sell clothing such as dresses, shoes, accessories, jeans, blouses, casual clothing and underwear, among other items.

New Investments in Clothing Stores

January 2019

In Costa Rica, AR Retail company plans to invest $6.2 million in the next few years to start up nine stores in the Greater Metropolitan Area.

The company's plan to commercialize the brands GAP, Banana Republic and Old Navy, is to launch the first two stores in 2019, another three in 2020 and the remaining four in the following years.

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