Former JD Sports CEO and executive chairman Peter Cowgill has revealed the sportswear retailer finds “strengths through its losses” amid the ongoing cost-of-living crisis and rising inflation.
Speaking at the Retail Technology Show today (26 April 2023), Cowgill said he attributes the success of the company to making sure “consumer engagement and brand strength are interrelated.”
“JD Sports understand its consumer, similar to The Fragrance Shop and will do increasingly to capitalise on the market and has strengthened that through its losses,” he said.
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Instead, the current The Fragrance Shop chairman has urged all retailers to focus on the micros amid the current economic measures.
“If you are the best in your particular marketplace, you will win,” he said. “If you’re the winner and you’re differentiated, you’ve got the consumer proposition and the economic metrics that make you.
The news comes as JD Sports recently claimed it is “successfully navigating” the challenges faced by the ongoing cost-of-living crisis.
Speaking to InternetRetailing, JD Sports group operations director Sherilyn Paterson said the sportswear retailer’s target audience, which it believes to be 16 to 24 year-olds, has an “increased buying power” due to its younger demographic and “lower unemployment figures”.