Thomas Vellios on retail trends
From Five Below CEO: We're On The Side Of Retail That Is Doing Great | CNBC · · CNBC
“Five Below is a trend right retailer. Three years ago was frozen, two years ago was selfie sticks, last year was shopkins, this year it's spinner. How long is this gonna last? You know, it's just a summer thing.”
On , Thomas Vellios, Co-Founder & Executive Chairman at FIVE BELOW INC, spoke about retail trends during Five Below CEO: We're On The Side Of Retail That Is Doing Great | CNBC on CNBC.
About Thomas Vellios
In a September 2017 CNBC interview, Five Below CEO Joel Anderson discussed the company's performance and strategy. Anderson stated that "retail is alive" and that Five Below is "on the side that's doing great." He argued that success in retail requires either being in the value space or offering an incredible store experience, and said Five Below does both. Anderson described the company's point of differentiation as value, and characterized the brick-and-mortar store as "the cake" with the internet as "the icing on the cake." Anderson addressed the company's approach to trend-driven products, noting that Five Below is a "trend right retailer." He cited examples of past trends including Frozen, selfie sticks, and Shopkins, and said the current trend was the fidget spinner. Anderson stated that the company "really follow[s] the trends" and that trends "usually start on the coast." He said he felt the fidget spinner was in its "final innings" and that a sequin pillow would replace it, adding that the product's five-dollar price point is "what's magical about Five Below."