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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.
Five months before launching in Australia, the business focused on gaining a deep understanding of Australian consumers and the trends, desires and purchasing habits of its tween to late-teen target market. A key insight that emerged from our research is that Australian consumers want ‘skincare to be easy’,” Richards said.
Total global online retailsales are expected to grow from US$4.4 Online retailsales will record a compound annual growth rate (CAGR) of 8.9 per cent during the five-year period, according to the Global Retail E-Commerce Forecast report, which covers data in 40 countries globally. trillion in 2023 to $6.8
Vincom Retail is Vietnam’s biggest mall operator by dint of opening malls here, there and everywhere, but is this the right strategy? Its continuing stagnation in key operating metrics on a year-over-year basis, despite rising retailsales and a sound economy, is concerning. appeared first on Inside Retail Australia.
As retailers gear up for peak season, many are fine-tuning salesstrategies as shoppers’ spending capacity and preferences change. At a sub-category level, there are even bigger movers, which present opportunities for some retailers and heightened competition for others. Consumer Price Index, Australia.
The latest retailsales figures are really quite incredible. According to the Bureau of Statistics (ABS), retailsales rose by 0.6 But clothing, footwear and accessories are up 2 per cent, food retailers are up 1 per cent while cafes and restaurants are also enjoying a 1.3 per cent bump.
Under IMG’s leadership since 2005, AFW has elevated resort collections, showcased Indigenous designers and initiated a consumer-integrated model. The emergence of consumer-facing fashion events including PayPal Melbourne Fashion Festival and Melbourne Fashion Week has led some to question the relevance of a closed industry-only event.
per cent, year-on-year retailsales growth in August 2022. Sales across Brand Collective are good, and the areas where we’ve seen a slower start to the season have been weather-dependent businesses, like children’s shoes, where you’d expect would normally have a huge sandal period,” she said. Focusing on the consumer.
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.
Keeping pace with consumer trends and changing behaviours is key to the success of retail operations, particularly when managing the impact of current global events on supply chains to ensure they’re able to consistently meet demand. . Three of six key trends identified in ASCG’s latest eBook research include: 1) Spread the cost.
Significant market trends are impacting retail businesses today – the migration of consumers online, supply-chain challenges and the cost-of-living crisis to name just a few – but there is a more obvious reason many retailers are struggling. There is no practical limit to the number of sales events AI can ingest and process.
Indeed, many retailers will happily say goodbye to 2024, a period when high inflation and interest rates remained persistent and an ongoing cost-of-living crisis crushed consumer sentiment to its lowest in 45 years, all of which resulted in anaemic national year-on-year retailsales growth. How did they adapt?
Caledonia Park achieved record-breaking performance in 2024, with total sales surpassing 2023 levels and footfall up 8%, underlining the impact of its targeted leasing strategy tailored to evolving consumer demands. Black Friday weekend was particularly successful for the scheme, with a 19.1%
Pre-tax earnings from its retail segment – that includes Dan Murphy’s and BWS – rose 4.1 per cent to $685 million as sales climbed 3.4 Its e-commerce sales jumped 5.9 per cent of total retailsales. per cent to $438 million as sales increased 4.2 per cent to $10.25 per cent to comprise 8.9
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.
The festive season is just around the corner, and despite economic challenges, Australian retailers have plenty of reasons to feel optimistic about this year’s peak shopping period. Recent research shows retailsales are set to surge, driven by savvy shoppers and key events like Black Friday and Cyber Monday.
Etri emphasised that Skippy’s intention and business strategy is to move volume, so it passes on savings from suppliers and doesn’t use large markups to drive profit. Major brands stocked in supermarkets in most cases use a premiumisation strategy to differentiate from supermarkets’ private-label brands.
“Understanding consumer behaviour and discretionary spend across retail categories, across income levels and consumer life stage segments is imperative for brand survival in the face of a worsening economic downturn,” said Linda Fagerlund, chief strategy officer at Mediahub ANZ.
For this to work successfully, publishers, advertisers and brands will need to collaborate to ensure that future relationships with consumers are built on the trusted exchange of information. Now is the perfect time to test your new strategies and measure them against your actual sales, using a reliable and proven method.
Shein and Temu have specialised in offering dresses, accessories and gadgets “that the consumer is less time-sensitive about,” he said. Amazon on Thursday reported a 7 per cent improvement in retailsales in the third quarter. In the second quarter, its retailsales had risen 5 per cent.
In this article, we will delve into the top five e-commerce tips that should be at the forefront of your strategy, with a keen focus on driving growth not only within the digital realm but across your entire business. According to recent statistics, online retailsales have experienced substantial growth, reaching a staggering $40.2
Australian retailers generally fared well over the last 18 months during the Covid-19 pandemic, despite temporary store closures as part of government-imposed lockdowns, although headwinds may be on the horizon. A look at consumer sentiment and spending . Consumer sentiment fell by 3 per cent to 81.2 Retailsales increased by 1.3
We are witnessing rapid growth in direct-to-consumer (D2C) sales by brands. Prominent examples include PepsiCo, which has launched two direct-to-consumer websites selling pantry staples and snacks, and Heinz, which now sells bundles of products from its “Heinz to Home” websites in several countries including Australia.
Supply chain issues and pandemic-related shortages continue to impact retailers worldwide, while the ever-accelerating shift to online shopping has left gaps in the high street – with House of Fraser the latest big name to announce it is closing its Oxford Street store in January. . Despite this, there are some bright shoots of recovery.
Retail-specific influencers play a significant role in promoting products and driving sales for brands at specific retailers. Additionally, influencer campaigns can be a useful tool to help increase your audience reach and consumer product education, so they are informed prior to shopping.
The retailer also expanded its vision centres and pharmacies with private screening rooms, and placed digital touchpoints throughout the store to provide information of products and services. And it added new “dollar shops” for consumers to pick through seasonal, more affordably priced items. billion in 2017.
But we’ve learned in recent years from the growth of Black Friday sales, that in more and more categories, you don’t have to give up convenience to get the best price. Especially for consumer durables, the organised shopper can have their preferred (low) price and get it delivered to the door too. per cent compared to last year.
Research from E-marketer shows that global marketplaces accounted for 62 per cent of online retailsales last year up four points from 2022. The answer lies in brand recognition, a diverse product range, innovation, the use of technology to understand customers’ needs and preferences, and aggressive pricing strategies.
With high inflation and climbing interest rates, consumer sentiment is set to plunge further, with retail spending set to decline in the June quarter. But what are the implications of a retail recession, and just how damaging will it be for retailers and consumers? The consumer is certainly hurting,” he said.
Indeed, it is rather odd that the billionaire Bruce Mathieson Snr would have backed Wavish to shake up the Endeavour Group board and rejig its business strategies. 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.
In the landscape of global commerce, few sectors evoke as much intrigue and promise as the consumer goods market in China. With higher than expected growth , a burgeoning middle class, and evolving consumer preferences, China stands at the forefront of the retail revolution. per cent and 6 per cent respectively. Two thirds (66.3
The bad news was that company CFO Mat Friend admitted that Nike fell short of its plan, telling investors on its June 27 conference call: “We experienced meaningful shifts in consumer traffic in key markets – particularly in Greater China, where brick-and-mortar traffic declined as much as double-digits versus prior year.”
Retailers and product brands must partner on robust training to empower associates, aligning their efforts to boost sales and customer loyalty. The Impact of Well-Trained Sales Associates A well-trained sales associate isnt just a cashiertheyre a sales powerhouse and brand advocate.
With retail being one of the most negatively impacted industries in 2020, there’s no doubt that businesses within this sector are eager to recoup losses. One surefire way to drive customers back is by participating in key retailsales events. For most brands, sales events have become a regular part of the calendar.
The retail industry in Malaysia has struggled during Covid, but shopping centre Pavilion in Kuala Lumpur has continued to find a way to reach consumers. Here, we chat with CEO of retail, Dato’ Joyce Yap, about the future of malls and how sector have evolved in the past year.
Data shows the rapid increase in online shopping that defined the first year of the global pandemic has started to fade, as the novelty of lockdowns wears off and government stimuluses run out, and online retailers that once enjoyed record highs are now working harder to drive sales. It’s a different situation.”.
Following today’s release of Sainsbury’s figures for FY2020/21; Thomas Brereton, senior retail analyst at GlobalData, a leading data and analytics company, offers his view: “Sainsbury’s pleasing full-year results display the resilience of the grocer throughout the COVID-19 pandemic. Total retailsales (excl. fuel) rose 7.3%
Mulholland reiterated that Coles is committed to understanding and meeting the preferences and tastes of Malaysian consumers. He explained that Coles aims to unlock the full range of its own-brand products through the partnership, offering a wider variety and higher quality selection for Malaysian consumers.
billion in global retailsales in 2023 , US Polo Assn, the official brand of the United States Polo Association, is reaping the rewards of its strategic expansion across continents, robust digital presence and investment in forging key partnerships. With a resounding $2.4
Closer to home While much of Premier’s plan for growth is centred overseas, there are still opportunities in its existing markets, Premier Retail’s interim chief executive John Bryce said, despite the growing cost of living in its home market of Australia. As far as the impact of the cost of living on our consumers, it’s valid,” Bryce said.
Pfeiffer-Smith stepped into the MD job in July 2022, shifting across from a role as Endeavour Group’s chief strategy officer. Dan Murphy’s is investing in both the online and offline consumer experience. “We haven’t seen any indication of customers trading down when it comes to the products they shop for with us,” Pfeiffer-Smith said.
As we know, today’s consumers are doing much of their shopping online. The number of touchpoints to reach them and the amount of data being generated, continues to skyrocket, which can sometimes make for a very disjointed customer engagement strategy. . billion on online retail , accounting for around 13.2
As gift-giving winds down and returns ramp up, the post-holiday period offers a valuable window into consumer behavior and operational performance. This crucial data from shipping patterns to return rates gives retailers essential insights to shape their logistics and fulfillment strategies in the year ahead.
We are witnessing rapid growth in direct-to-consumer (D2C) sales by FMCG brands. Prominent examples include PepsiCo, which has launched two direct-to-consumer websites selling pantry staples and snacks, and Heinz, which now sells bundles of products from its “Heinz to Home” websites in several countries.
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