The economic woes that have plagued retail for the past several years have claimed another victim: Daffy’s, a longtime discount retailer with locations mainly in New York and the surrounding area, will be shuttering its stores beginning as early as September, WWD is reporting. With more niche and concept stores opening to answer to consumers’ specific tastes and fast fashion stores spreading like wild fire, the inevitable closing isn’t too much of a surprise for industry insiders — or local shoppers, likely. According to the report, the chain will be closing 19 units in total, eight of which are in Manhattan.
Similar stores like Filene’s Basement have also fallen victim to newer discount store models boasting more efficient business models and designer labels (or on-trend items) with extremely quick turn-around. What’s next for the fast fashion realm continues to be on the forefront of not only eager shoppers’ minds but also the companies behind them — all battling to stay fresh and relevant in a quickly changing atmosphere. Will you miss Daffy’s? Weigh in below!