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Despite retailsales growing in August, businesses are still urging the Reserve Bank of Australia to cut interest rates to help the sector thrive through the holiday season. According to the Australian Bureau of Statistics (ABS), retail turnover increased 3.1 billion in August, attributed to the shift in weather pattern.
Australian retailsales inched higher in January, with food-related spending leading the growth. Australian Bureau of Statistics data showed that January retailsales rose 1.1 ‘Other’ retailingsales climbed 2.8 Cafes, restaurants, and takeaway sales grew 2.5 per cent annually to $5.53
However, behind the headline numbers sits a range of spending patterns. For example, general retail recorded the strongest growth among discretionary categories, rising by 5 per cent. At a sub-category level, there are even bigger movers, which present opportunities for some retailers and heightened competition for others.
Australian retailsales in January surged 7.5 per cent over December, reflecting a strong post-Christmas sale season. Ben Dorber, head of retail statistics with the Australian Bureau of Statistics (ABS), said January’s rise followed a 4 per cent month-on-month fall in December and 1.7 per cent year on year – and 1.9
Ramadan continues to be a crucial shopping period across Southeast Asia, with evolving consumer behaviours and market dynamics shaping the retail landscape. Growing demand has led some retailers to operate 24 hours a day to accommodate changing consumption patterns.
As inflation and rising interest rates start to bite and reduce consumers’ spending capacity and confidence, Australian e-commerce sales declined sharply in July. . per cent of retail spending in the country during the last financial year, e-commerce’s share of wallet is significant. . Representing 19.3 Desktop and tablet.
As we approach the busiest time in the retail calendar year, one question looms: How can retailers revive sales in a landscape of unstable inflation and changing consumer habits? The latest Consumer Price Index (CPI) figures show inflation has fallen to within the RBA’s target band at 2.8 points in September.
Hong Kong retailsales continue to experience a recession, reporting a double-digit drop in two consecutive months in May and a 6.1 A government spokesman said the decline in sales was mainly due to the changes in the consumption patterns of visitors and residents, as well as the strength of the Hong Kong dollar.
With 2024s peak shopping season in the rearview mirror, consumer spending behaviours and responses to major retailsales events are coming into focus. Examining where and when people shopped reveals valuable insights for retailers as they hone their strategies ahead. per cent to $51 billion.
Black Friday and Cyber Monday sale events have turbo-charged Christmas trading, with the month of November overtaking December in total retailsales for each of the past three years. Retailers are hoping for more Christmas cheer this year from Black Friday on 25 November and the Cyber Monday promotion three days later.
Its economic data analysis will include retailsales at its August meeting with speculation around another increase in interest rates. Retailers are praying for a most unlikely cut to interest rates or, at least, a hold on them at the August board meeting. per cent fall in seasonally adjusted sales.
While e-commerce adoption skyrocketed all around the world at the peak of the pandemic, perhaps more interesting was the rate at which older consumers embraced online retail. Globally, Asia dominates the e-commerce universe, accounting for over 50 per cent of all retailsales.
In a rollercoaster year for retailsales, a survey of retailers has indicated an optimistic outlook for store network growth. CBRE said events and the return of international students and tourists as well as a return of office workers would be positive drivers for CBD retailsales in the year ahead. per cent to 13.9
Department stores have been particularly impacted, with consumers forced online during the pandemic now choosing to buy direct from brands or from more price-competitive online marketplaces. Australian digital sales reached record levels during Covid-19, with lockdowns driving consumers online in greater volumes than ever before.
The HSI covers around 55 per cent of Australia’s total consumer spend across seven categories: home buying, retail, travel, education, entertainment, motor vehicles, and health and fitness. Retail sector snapshot: The year to March 2021 saw a wide range of spending patterns across different sectors of the market.
For consumers, there is a very strong desire to get out and enjoy life. per cent in September 2022 only slightly above 2019 levels and well down from the 2020 high of about 24 per cent, suggesting that the amount of dry powder in consumers wallets is declining. per cent last year, with the economy growing by an estimated 6.5
A number of retailers have affirmed analysis from Commbank’s Cost of Living Insights Report which showed that financial pressures aren’t hitting everyone equally. Spending among 35+ year old consumers had increased by 3.1 per cent on retail services for the 12 months to March, 2023. per cent on apparel, and by 9.7
To start with the gaming business, the regulatory environment, consumer behaviour and wagering competition is dramatically different to the glory days between 1999 and 2006. Endeavour Group’s sales for the latest financial year were up 2.5 Sales have increased by around $1.5 per cent fall in retailsales to $3.61
Pattern Australia has released its fourth annual report on consumer considerations and e-commerce. DTC is also a big winner with most consumers anticipating they will spend more online via a brand’s own digital channels. . 44 per cent of e-commerce consumers are planning to spend more on marketplaces in 2022.
The result was significant given the disruption to hotel trading due to Covid movement restrictions during the first half, offset in part by increased online sales of liquor to house-bound consumers. Compared to the same period in FY20 – prior to the advent of Covid-19 – retailsales were up 12.7
Strong online traffic on Black Friday demonstrated a notable pattern of shoppers putting time and effort into selecting the lowest-cost, best-value merchandise, said Rob Garf, vice president and general manager for retail at Salesforce, which tracks data flowing through its Commerce Cloud e-commerce service. And they won once again.”
The holiday rush may be over, but the real work for retailers is just beginning. As gift-giving winds down and returns ramp up, the post-holiday period offers a valuable window into consumer behavior and operational performance. Holiday Sales Surpass Expectations Retailers in 2024 had a banner holiday season, exceeding expectations.
Sales up and inflation non-existent On the surface at least, things are by no means dire. China’s National Bureau of Statistics (NBS) states that retailsales were up 6.8 In September, sales were up 5.5 Keep in mind also that demographics are swinging slowly against consumer spending on merchandise.
Secondly, Heubel recommended that retailers should “be more sophisticated around data, and collaborate with airlines. By “talking” to passengers through their travel retail expeditions, retailers will have a more in-depth understanding of what consumers are looking for and their shopping patterns.
I’ll start with a particularly interesting one that has strong voices on either side: what proportion of sales will be online in 2022? Last year, I interviewed Jonathan Reeves from Eagle Eye for my Shopology show and he predicted that online would account for half of retailsales by 2030. Why online will grow: consumer trial.
Despite evidence of an upturn in growth last month, online retailsales took a turn for the worse in September, falling back to -12.5% That is according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers. Year-on-Year (YoY).
In the May quarter, sales at the company’s existing malls in China grew by 6.7 This is reflected in the overall retailsales numbers released monthly by the country’s National Statistics Office. In June, retailsales were up 2.0 Sales at mall specialty stores at Aeon’s 92 malls in Japan increased by 3.1
Coming out of (or still in) the Covid-19 pandemic, experts are forecasting turbulent times for Australia’s retail industry, as it grapples with – among other factors – the effects of rising interest and inflation rates, diminished consumer confidence and potential drop in spending throughout the year. But not all consumers are equal.
The retail industry is undergoing a transformation in the first half of 2024, addressing challenges that demand agile adaptation to new trends , especially since the COVID-19 pandemic. growth in retailsales , the highest increase recorded in the European Union.
From the moment consumers step foot in a store, they start making purchasing decisions based on what they see. It’s a crucial strategy to make your products stand out in a competitive retail space. Sounds: Modern technology has made incorporating sounds into your retail displays easy. Visual Merchandising Explained.
It follows the multi-level marketing company, LuLaRoe, which is known for its colorfully patterned clothing, messages of empowering women, and nearly $2 billion in purported sales in a single year. The claims in Van allege that LuLaRoe charged sales tax on purchases to customers located in tax-free jurisdictions.
Consumer confidence may be growing around mitigating COVID-19 and the delta variant’s effects, but one issue still may delay the holiday cheer – broken supply chains. The sales numbers are beginning to reflect this – and the trend is likely to continue into the holiday season. Delta’s Impact On In-Store Stock.
It’s all a part of our everyday vocabulary—and just as much as retail shopping holds so much power over us ordinary folks, so does the supply chain over the retailers behind the scenes. In the ever-evolving world of retail, success hinges on the seamless orchestration of an intricate web known as the supply chain.
For product startups, partnering with a retailsales agency often feels like a natural step. These agencies bring expertise, established relationships, and credibility to help your brand penetrate retail markets. Sometimes, the very agency you trusted to drive your retail success may start holding your business back.
Following a post-Brexit slump in consumer confidence which caused a corresponding slump in like-for-like sales, BRC-KPMG sales monitor report that sales have rebounded during July. In the first full month since the EU referendum result, like-for-like retailsales jumped by 1.1% uplift in non-food sales.
After a month of fasting from 23 March to 21 April, Eid al-Fitr, the festival of breaking the fast, will be celebrated for around two days, and will most likely lead to an increase in retailsales. Sales figures continued to rise during Ramadan until approximately one week before Eid.
However, as retail is one of the biggest parts of the economy and the nation’s largest private-sector employer, it is probably wise to at least consider some of the implications. The election affects retail in two main ways. There is the election itself and what this does to consumer confidence and habits.
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