Forever 21 has filed for bankruptcy for the second time, with its recent filing indicating potential closures of all US stores unless a buyer emerges. The brand struggles to connect with younger consumers, particularly Gen Z, preferring online shopping and secondhand options over Forever 21's offerings. A revisit to a Manhattan store reveals signs of closure and a lack of vibrant consumer activity, reflecting its diminished appeal among its former millennial demographic. The shift in shopping habits has exacerbated the challenges facing the brand in a competitive landscape.
Forever 21's second bankruptcy filing underscores a failure to adapt to changing consumer trends, particularly the shift towards online shopping and secondhand retail.
Despite once being a go-to destination for affordable party wear, Forever 21 has lost its connection with younger shoppers who now favor competitors.
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