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It’s no secret that consumers are still spending big on their pets even in a cost of living crisis – and the launch of luxury pet accessories brand Mon Petit Amour Manolo, which sells collars starting at $550, is proof of this. billion in 2023.
Despite modestly positive expectations for 2024, the luxury retailmarket did not pan out as merchants had hoped. According to a 2024 report released by global management consulting firm Bain & Company, this market dropped two per cent from an all-time high of US$387 billion to US$381 billion.
Recent research has revealed that luxury Australia retailers aren’t doing enough to capture the attention of, and drive consumer spending by, migrants of Asian background and heritage. In order to do so effectively, she stressed the importance of understanding the various factors and intricacies that inform their consumer behaviour.
Starting with a single sneaker launch in 2014, the brand has expanded into other retail categories, including outerwear, streetwear and accessories to become a lifestyle brand for all ages — from children barely old enough to pronounce the name of the business to veteran fashion consumers. AJ: It’s been incredible.
Rachel Leonard, editorial director of The Bridal Council and former fashion director of Condé Nast’s Brides , agreed that consumers today are seeking more bespoke bridal wear and adds that they want those services provided on a “faster turnaround” time. Signet Jewellers, the world’s largest retailer of diamond jewellery, is anticipating 2.5
They have all successfully tapped into the power of pop culture to keep hold of the increasingly fleeting attention of the millennial and Gen Z consumer. However, just because a collaboration is unique, or even a little weird, depending on the consumers perspective, doesnt ensure that it will be popular or profitable.
Top 10 fastest growing retailers Amid the dynamic and competitive retail landscape in 2022, ‘GoTo Gojek Tokopedia PT’ and Singapore’s ‘Sea Ltd’ emerged as standout performers, achieving retail sales growth rates of 44 per cent and 43 per cent, respectively.
Walking into the 1172-square-foot space designed by Ringo Studio, consumers are greeted by a 16-foot- long custom table with marble insets, anchored by a dramatic light fixture. This store is more than a retail space; its an immersive experience that blends innovation with nature.
Recent years have seen rapidly evolving changes in all areas of consumer behaviour and there is little doubt it will continue in terms of the products and services that people want, who they want them from, and where and when they want to access them. Rather than talking about what we do when we’re out there, it’s about how it makes us feel.”
Shepard was inspired to start the brand based on his own experiences searching for such products, and he knew other consumers were looking for the same thing. Tapping into this much-underserved market has led to steady growth for Both& since it officially launched in 2020.
Following nine consecutive interest rate increases in Australia – with more likely to come – retailers are having to navigate a challenging economic environment, as consumers are looking to cut back their spending across a range of categories. per cent drop in consumer spending.
Cultural differences and fierce competition The Asian retailmarket, particularly in countries like South Korea, Japan, and China, is characterised by its dynamism, technological innovation, and fierce competition. The way consumers dress in this region is strikingly different from the rest of the world.
The opportunity to meet consumer demand is more than apparent with the Australian children’s apparel market tipped to have a value of about $5.39 Coming to Australia The Australian launch and establishment of a local office will serve as a launchpad for other international markets across the Asia Pacific region.
Skechers has selected actor Lawrence Wong as its Singapore brand ambassador for the second year running, in an ongoing effort to strengthen its appeal to a broad consumer demographic in the saturated market. She noted that culture and weather play a huge role in shaping the Singapore retailmarket.
Executives are very focused on the consumer and are ever keen to understand what they want. Of course, this is how all retailers should operate; but the blunt truth is that so many have lost the basic skills of retailing and lack the attention to detail in the front end of the business. Neil Saunders is MD at GlobalData.
Kicking things off with a Kickstarter campaign Like many indie brands on the market today, a large source of funding was found via Kickstarter, a public funding platform for creative and entrepreneurial projects. Lisbona partially credits the company’s popularity on the video-focused social media platform to its success in the market today.
While the everyday consumer has become pri c e-sensitive with the growing costs of living in the US, the 1 per cent is still spending – to a point where the luxury shopping market has become more competitive than ever. The retail expert noted that “for discretionary luxury shopping in physical retail, this is paramount”.
IR : What consumer trends are shaping the luxury retailmarket in Apac, and how is Golden Goose responding? The sneaker repair service has also been launched online. We are excited to expand further in Apac, with more Forward Stores planned for 2025, including one in Australia.
Brands that had previously relied on bricks-and-mortar sales had to accelerate their e-commerce strategies, TikTok became an extremely effective advertising and marketing tool, and certain retail categories like travel retail saw their sales drop virtually overnight. The market is expected to grow to US$126.48
The store has Marimekko’s customary colourful and upbeat prints, impressed on a curated range of clothing, accessories and ceramics. Thai consumers love Japanese products, and this store adds another elegant piece of Japan lifestyle to its tenant roster. The store is suitably subdued and bookish in its colour tones.
Indeed, Lagerling’s comment about American consumers’ interest in Japanese resale goods is right on the money. This enables users of eBay’s US site to purchase some products listed on the Rakuma official shop, primarily apparel and accessories. Will Mercari’s bet on bricks-and-mortar prove bountiful? billion, up from US$1.2
The key to effective adaptive clothing is catering for the vast array of needs different consumers have, while maintaining style and fashionability. The technology behind adaptive fashion is not limited to product design: it is also used in sales and marketing, too. Unique sales platforms. Adapting beyond technology.
Renowned travel accessories brand Tumi is redesigning stores at major airports as it continues to expand its presence across Asia. With further expansions slated for Soekarno–Hatto International Airport in Jakarta and Chhatrapati Shivaji Maharaj International Airport in Mumbai, Tumi is reinforcing its commitment to the travel retail sector.
Following its launch in Australia in 2016, Danish retail group Bestseller has firmly entrenched its presence in the retailmarket, with the company making strides in its sustainability and circularity initiatives. It works with more than 500 supply partners, with its products manufactured across over 800 factories.
Like many talented industry professionals last year, Uniek founder Katherine Gracey was motivated to finally take the plunge and launch her own loungewear direct-to-consumer business. Mecca has continued to evolve the brand and the customer experience as the market has changed around them to ensure they are always at the forefront.
They join a host of Aussie-born apparel and lifestyle brands, including July, Princess Polly, Culture Kings, Bared Footwear, Papinelle and Frankie4, that have been expanding their omnichannel presence in the American retail landscape over the past few years. “This has then acted as a springboard for more expensive physical expansion.”
The use of videos as part of a retailmarketing strategy is a tried and tested method to catch consumers’ attention and drive sales. The Chinese retailmarket is leading in the livestreaming trend. It’s critical to maintain consumer interest,” she said.
In a market as saturated as leather goods and accessories, it’s hard for brands to find ways to stand out. The Australian brand has been steadily capturing the hearts of consumers down under over the past 20 years, with a thriving online presence and six bricks-and-mortar stores.
per cent increase, the Canadian company is still performing much better than others in the retailmarket, especially during a time of rising consumer caution, according to Neil Saunders, MD of GlobalData. Although the growth is not as impressive as the prior year’s 28.8 billion and operating income jumped 19 per cent. “The
Another milestone According to Jain, the opening of its latest store in Bangalore is another ‘proofpoint’ of its direct-to-consumer strategy and another opportunity to deliver memorable brand experiences to consumers in an immersive manner. As digital is on a high-growth trajectory in India, Jain said the company launched Levi.in
Heather Kaminetsky knows the luxury retailmarket like it’s the back of her hand. Prior to her current role as the president of luxury e-commerce retailer Mytheresa, the retail executive has held positions amongst several luxury shopping giants including Barneys New York and Yoox Net-a-Porter.
With the “extraordinary results”, the company is currently one of the best performers in the retailmarket, commented Neil Saunders, MD of GlobalData. The analyst attributed this to the years of hard work to reengineer the brand and to connect with modern consumers.
Through Pinduoduo’s proprietary supply-chain resources, Temu is also able to replicate its success and profitable model by slashing intermediary costs, connecting consumers with high-quality manufacturers at competitive prices and amassing high sales volumes. More than half of its followers are Gen Z consumers who prioritise low-cost goods.
This week, The Iconic hard-launched a new brand campaign to serve as a reminder, to consumers and itself, that the online retail platform is far from finished with disrupting and innovating the Australian and New Zealand retail industry. The new campaign is intended to remind consumers of why they shop with The Iconic.
We want to create a deeper link between consumers and fashion designers and help our local designers promote their brands to international markets. At the moment, the brand has been growing organically, primarily from word-of-mouth marketing among customers who have had favourable experiences with the brand.
shows that the sportswear market in 2021 was almost entirely recovered to pre-pandemic sales. This was mainly fuelled by Chinese consumers, who accounted for nearly 23 per cent of the growth, followed by the US market at 15 per cent. The post Inside the rise of activewear in China appeared first on Inside Retail.
Prior to Gotemba, Japan’s retailmarket was tightly regulated and the industry in bad shape. Government statistics show that at the time of Gotemba’s opening, retail sales in Japan had fallen for 42 consecutive months. The country had been in recession for a decade and the people of Japan had become inveterate savers.
Retailers such as Macy’s and Columbia Sportswear are expanding their use of “breathable” and “cooling” fabrics in a bid to boost sales as record-high temperatures drive demand for clothing that can help consumers beat the heat.
To what extent can City Chic’s half-year results be attributed to external trends and changes in consumer behaviour? As reported by Inside Retail , the plus-sized womenswear retailer recorded a sales dip of about eight per cent to $168.6
Representing about fashion 25 brands – including Clarks, Volley and Shoes & Sox – Brand Collective has dipped a toe into the premium retailmarket through Replay , an Italian denim brand it brought on board last year. However, Morris said that Canada Goose is its first foray into luxury retail. “We
Surveys are often the best thermometer for gauging consumer opinion. With them, we can find out what they think about many issues that affect retailing. For example, a recent consumer survey revealed that 15% of shoppers leave a convenience store and abandon their purchase after one minute of waiting in line.
The product’s packaging was ineffective in communicating what the product offered to the consumer ( The product’s packaging is your “best sales-person”. Not having a professional design your packaging guarantees failure before the product can get on a retailer’s shelf ).
How did the retail industry change this year? What should retailers be doing differently to continue capturing consumers’ attention? As a solution to these issues, many direct-to-consumer (DTC) brands that are migrating to physical channels are putting customer experience at the forefront of their store design objectives.
When it comes to the scientific component: “Decades of customer research, driven by the overwhelming economic importance and growth of the retail industry, arm retailers with actionable data for effective merchandise strategies and best practices.” Mannequins with Attitude. And they’re evolving.
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