American sportswear and footwear retailer Foot Locker is accelerating its transformation into an omnichannel retailer in 2024 after making gains in 2023.
The specialty athletic retailer aims to “make the customer journey more dynamic, personalised and seamless,” Foot Locker said in a recent presentation in conjunction with its quarterly earnings call. As part of its omnichannel efforts, the company boosted its percentage of sales made through digital channels to 19.5 per cent in the fourth quarter, up from 17.7 per cent a year earlier, according to the presentation. It aims to increase that share to 25 per cent by 2026.
“Our digital conversion continues to push towards new highs, and we continue to see room for improvement looking out. In 2024, our focus is on additional improvements in the customer experience, including enhanced search and discovery capabilities, product listing and detail pages, improved storytelling and continued cart optimization improvements,” said Mary Dillon, president and CEO of Foot Locker
Foot Locker will launch its first “store of the future” in New Jersey in April, and plans to open three more later this year, Dillon added.
Among its physical stores, Foot Locker is increasing its locations that are off-mall or new concepts, the presentation said. The percentage of square feet in the United States that is in off-mall locations rose to 39 per cent in the fourth quarter, up from 34 per cent in 2022. The share that is part of new concepts rose to 16 per cent, up from 11 per cent. By 2026, the company aims to boost the off-mall percentage to 50 per cent and the new concepts share to 20 per cent.
Foot Locker is headquartered in Midtown Manhattan, New York City, operating in over 40 countries.
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