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Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the departmentstore chain truly adapt to the needs of the modern-day consumer?
The US luxury retailmarket was worth US$134.6 billion last year, retail analyst and GlobalData managing director Neil Saunders told Inside Retail. It is on track to drive US$300 million in annual gross merchandise value by 2027.
And while Central Group’s publicly listed subsidiary, Central Retail, has denied any involvement in the transaction, multiple reports suggest that another division of the conglomerate is involved in the talks. Central’s superregional malls and departmentstores are ubiquitous in Thailand.
International Group of DepartmentStores appoints new president. The International Group of DepartmentStores (IGDS) has appointed André Maeder as the new IGDS President for 2021-2023. The post Retail appointments for the week appeared first on Inside Retail.
In the same release, the high-end departmentstore announced plans to end the year with 20 new standalone shops across Texas, Florida, and California. The company most recently reported that it is on track to drive US$300 million in annual gross merchandise value by 2027.
For small retail outlets, this might mean offering goods that aren’t available in big departmentstores, giving you an edge in the market. Leveraging retail recruiters to go find professionals in your organization to find reliable suppliers can be a competitive edge.
The process is actively in use at every major chain store, departmentstore and larger specialty store chain. Yet the concepts are completely applicable to independent retailers. In fact, many specialty stores and boutiques use this to ensure cash flow and profitability for their stores.
They arrived with great fanfare but many international retail brands have found the Australian retailmarket has been a graveyard. Even prime locations, local partners, name recognition and often a portfolio of new merchandise brands haven’t kept Australia from becoming a dead end for some major international retailers.
It’s a concept that rolls value and entertainment into one, with the latter consisting not of the usual technological or design bells and whistles, but rather the treasure hunt: about 25 percent of its merchandise is rotational, meaning that it’s a one-off bargain and you need to snatch it up now because it won’t be here next time you come.
Agent Training, civilians enter the experience store where a range of limited edition uniforms and other merchandise items are on sale to prepare them for returning to the ‘real world’. This entertainment concept store has proven incredibly successful and plans are underway to establish a more permanent location for it in Las Vegas.
However, the retail direction of the company is still strongly oriented toward luxury, and the audience for its merchandise and art exhibits is primarily a well-heeled elite. In Japan this has been the case for a hundred years, with departmentstores sprouting in the early 1900s from their roots as kimono shops.
Grocery stores that promote organic or specialty foods frequently include budget lines to attract customers who can no longer afford premium items. When inflation is high, departmentstores expand their clearance sections. Retailers prioritize durability and versatility over luxury or status.
Beggar thy neighbor: competition for tourists It hasn’t gone unnoticed by governments across Asia that the post-Covid 19 economic growth and the growth of retail, hospitality and other businesses has largely been driven by the revival of international tourism. Departmentstore renovations are a particularly important ongoing trend.
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