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Are we entering a bricks-and-mortar renaissance? Here’s what the data says

Inside Retail

In a rollercoaster year for retail sales, a survey of retailers has indicated an optimistic outlook for store network growth. The scale of a renaissance in bricks-and-mortar store openings may well be modest but it does contrast with an extended prior to and through the Covid-19 pandemic of store network pruning.

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Five retail leaders discuss how to deliver value in a spending slump

Inside Retail

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 retail sales growth. How did they adapt?

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Vincom’s retail struggles: Vacancy woes persist amidst Vietnam’s shopping boom

Inside Retail

In contrast, the two formats Vincom operates in secondary locations Vincom Plaza and Vincom+ have persistent vacancy rates in the 20-30 per cent range, which isnt a good look. Retail is booming and rents are, too, in the main cities Vincoms performance took place against the backdrop of booming retail sales.

Shopping 130
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Why consumer spending in one retail category is outpacing all others

Inside Retail

Stepping even further out by age reveals the contrast. Under 30s have cut back substantially in retail categories like apparel (-8 per cent) and department stores (-15 per cent). To learn more about how your retail business can unlock value from up-to-date customer behaviour analysis and market movements, visit commbank.com.au/commbankiq

Other 147
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Young adults are feeling the pinch – here’s how retailers are responding

Inside Retail

The report found that Australians between 25-29 were more likely to be in the rental or housing market, and were subsequently making the most significant spending reductions to afford rising costs. per cent on retail services for the 12 months to March, 2023. Spending among 35+ year old consumers had increased by 3.1 per cent and 0.6

Fashion 238
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Niche luxury labels remain attractive in Singapore amid luxury fatigue 

Inside Retail

As established luxury brands navigate complex market dynamics, emerging niche luxury labels are witnessing a notable uptick in consumer engagement and market presence. The Singapore luxury market is no exception. However, they are more discerning in their choices, expecting more elevated propositions and services.”

Curate 147
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How to ensure Black Friday doesn’t become the nightmare before Christmas

Inside Retail

It’s also an important time for retail staff, with many retailers taking on additional Christmas workforces to keep up with demand. However, the emergence of BFCM, and the fact many of these sales are predominantly online, has impacted the Christmas period significantly. Consider this; last year retail sales in November rose 5.8%

Consumer 246