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Update: Did Fashion’s Night Out Boost Retail Sales in NYC?

Fashion’s Night Out 2010 was a huge success in New York City as far as boosting enthusiasm for fashion and attracting an energetic crowd, but Signature9 promised an update on whether the event fulfilled its original purpose – to bolster lagging retail sales.

Last year’s FNO produced mixed financial results, with some retailers reporting the night was far more successful in terms of energy than from a business perspective. This year’s event was, however, more promising, with 1,000 retailers participating to last years 800 and added pre-event buzz.

So how did retail sales fare this year?

Unfortunately, not much information exists on the topic. Apparently, many retailers did not measure the exact business results, with some admitting they were more concerned with the social aspect. {Vancouver Sun} We’ve reached out to retailers large and small, but are still awaiting responses on questions related to sales for the evening.

Here is what we do know:

-New York City foot traffic increased 50 percent after last year’s event, according to research firm ShopperTrak, and this year’s FNO is estimated by many to have attracted an even larger crowd.

-Seventy-five percent of FNO attendees bought something, according to a survey of 1,300 consumers by NYC & Co. {Vancouver Sun}

-The official site for the event claims only that FNO was a “huge success.”

-Anna Wintour said in a CBS News interview following the event, “We were thrilled. It was already a huge success last year. Last year we were really running a campaign with an unknown candidate. And this year we had the incumbent on our side, so at least we were talking about an event that people knew what it was. They were excited about it and they turned out in droves…If you walked through the streets, as I did, of New York on Friday, everbody was dressed up, they were having fun, but most importantly they were shopping.” {ShoppingBlog}

It is all very vague, and we suppose it may be a bit soon to say whether FNO had a lasting impact on retail sales. We just cannot understand, however, why so little information exists on the economic success of an event whose purpose was to be an economic stimulus. A search for Fashions Night Out of Bloomberg News, for example, yields no results pertaining to the financial outcome of the event.

Perhaps more information will become available in the coming weeks, and if it does we will be sure to update you.






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