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Share Name | Share Symbol | Market | Type |
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CIT Group Inc | NYSE:CIT | NYSE | Common Stock |
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0.00 | 0.00% | 53.50 | 0 | 01:00:00 |
CIT Executive Shares Insights on State of the Retail Sector
The retail industry is going through a form of evolution, maybe even a revolution. E-commerce has changed the way retailers sell, so that the major brick-and-mortar companies are looking at their individual stores, potentially closing what they consider unprofitable stores, and investing in e-commerce to continue to grow their business. These are some of the observations from Marc Heller, President, CIT Commercial Services, a division of CIT Group Inc. (NYSE:CIT), a leading provider of commercial lending and leasing services, in “E-commerce Drives Retail Revolution” (cit.com/heller), the latest piece of market intelligence in a series of in-depth CIT executive Q&As.
“In apparel, millennials and teen consumers have different buying habits than their parents, which is reflected in millennials’ preference for ‘buying’ one specific item, even when at a mall or a store, rather than ‘shopping’ for multiple items,” said Heller. “This difference can be attributed to the fact that millennials are often accustomed to buying a specific item online rather than browsing for items in multiple stores. Consumers whose shopping behavior was established before the rise of e-commerce could be more likely to browse through a store or a mall, leading to the discovery of new items and greater sales.”
Some of the other trends Heller expands upon include:
EDITOR’S NOTE:
CIT thought leadership content can be found at the Knowledge Center on CIT.com (cit.com/knowledgecenter) and our CIT Point of View blog (cit.com/pov). View our corporate video (cit.com/corporatevideo) and follow us on Twitter, LinkedIn, YouTube and Facebook. Register to receive press releases at cit.com/newsalerts.
About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. cit.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160707005671/en/
CIT MEDIA RELATIONS:Matt Klein, 973-597-2020Director, Media RelationsMatt.Klein@cit.comorCIT INVESTOR RELATIONS:Barbara Callahan, 973-740-5058Senior Vice PresidentBarbara.Callahan@cit.com
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