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Australian retailsales slightly rose year over year in May as shoppers took advantage of early end-of-financial-year (EOFY) promotions and sales events. Australian Bureau of Statistics (ABS) data showed that retailsales totaled $35.94 Food retailsales grew 3.0 billion during the month. per cent.
Those brands that have avoided bankruptcy have often been forced to undertake aggressive cost reduction and store closures. Departmentstores 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.
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.
Australian retailsales surged 9.4 per cent in March compared with the same month last year as the impact of Omicron on consumer shopping behaviour wore off. Month on month, sales were up 1.6 And the volume of retailsales reached a record $33.6 And the volume of retailsales reached a record $33.6
The latest forecasts predict that China’s GDP and total retailsales of consumer goods will hit growth rates of 4.8 per cent) of surveyed departmentstore operators expect their sales to grow in 2024, a significant decrease from last year’s 85.7 per cent and 6 per cent respectively. Two thirds (66.3
The latest retailsales figures are really quite incredible. According to the Bureau of Statistics (ABS), retailsales rose by 0.6 per cent) and departmentstores (down 0.4 My tip is that retailsales figures in the next couple of months will start to reflect this. per cent bump.
First quarter results for calendar year 2022 are in for the three biggest Korean departmentstoreretailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine departmentstores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1
Shinsegae — one of the Big 3 of Korean departmentstoreretailing along with Lotte and Hyundai — has continued its great form right through into the second half of the year, helped by the removal of the country’s remaining pandemic restrictions and an increasingly buoyant mood among the country’s more affluent consumers.
Japan’s storied departmentstores are riding a wave of overseas tourists, and although there is no sign yet of a wipeout, the cautious pronouncements of company executives indicate that it’s a wave they can’t ride on indefinitely. On the surface of it, departmentstores still have their mojo: sales in October rose by 5.3
For once, departmentstores are leading a retailsales recovery instead of lagging it. In Japan, the Ministry of Economy, Trade and Industry (METI) reports that retailsales in the first quarter amounted to 39,781 billion yen (about $434 billion at current exchange rates), up 6.5 per cent from a year ago.
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.
It’s also ahead of other retail areas like household goods (-2 per cent) and apparel (-2.5 As a CommBank iQ spending category, general retail covers more than 10 sub-segments, from pet, discount and departmentstores to online marketplaces. Stepping even further out by age reveals the contrast.
Departmentstores and the foodservice sector drove “unprecedented” Boxing Day sales growth across Australia according to data from the Australian Retailers Association and Westpac DataX. per cent on 2021, with department-storesales of $149 million up by 23.6 billion – 8.6 billion – up 15.3
Sales from cafes, restaurants, and of takeaways rose 4.6 per cent, followed by other retailing at 3.9 Department-storesales were strong with 7.4 per cent growth, however sales of household goods fell by 2.5 Further reading: Retailsales surge in February – but how much is inflation?
This makes FFO more reflective of the REIT’s true operating performance, since shopping centres and other properties often increase in value over time rather than depreciate. per cent and retailersales per square metre for the trailing 12 months were US$8,166, up 3.3 per cent from the preceding 12-month period.
Meanwhile, other categories recorded “negative sales for the second consecutive month” with household goods down 4.9 per cent followed by clothing, footwear and accessories sales down 0.3 per cent and departmentstoressales slipping by 0.05
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. Departmentstores followed suit with January up 1.7
Retailshopping centres face a major challenge rebuilding customer traffic and sales after the Covid-19 pandemic is controlled. The Covid-19 disruption has closed some businesses while accelerating a contraction of store networks many chains had started before the pandemic forced trading restrictions and lockdowns.
According to the Australian Bureau of Statistics (ABS), retailsales were up 19.2 Customers were spending more on clothing, footwear and personal accessories, departmentstores and cafes and restaurants in July 2022, compared to the 12 months prior, and consumer sentiment was also up, by 3.9
Vicinity Centres has acquired a 50 per cent stake in the Lakeside Jundaloop shopping centre in Western Australia from Future Fund for $420 million, and will co-own it with Lendlease-managed Australian Prime Property Fund – Retail. Its tenancy profile is supported by 16 mini-majors and 267 specialties and kiosks.
New concept stores, wholesale distribution and an online shopping site are set to roll out early next year. . PAS Group is also exploring wholesale distribution of the brand through the likes of David Jones and independent menswear retailers. It also plans to launch a local online shopping site. 550 million company.
per cent increase in sales while departmentstoresales grew by 7.6 per cent and food retailing at 8.4 By state, Queensland led with the highest growth in retail turnover at 10.4 It also shows the interest of consumers to bring their Christmas shopping forward to November,” she said.
Sales results coming out of Japan in the past few weeks indicate that a high base-year comparison and a narrowing of the tourism effect are starting to have an adverse impact on growth. For large-scale home goods retailerssales growth was 1.6 Sales for them grew by 5.1 per cent compared with the same month a year ago.
Amazon.com has posted its fourth straight quarter of record profits, thanks to the global shift to online shopping during the Covid-19 pandemic. . billion on sales of US$108.5 billion on sales of US$108.5 The two-day online shopping event occurred in October last year due to uncertainty around the pandemic. “In
While the retail sector had been a standout in March 2020, as actual spending and spending intentions surged during the early stages of the pandemic, retail spending and spending intentions growth had stabilised in recent months.
At the time, it was a unique and unparalleled shopping destination in a city that was a retail backwater, nowhere near as sophisticated in terms of its retail offer as it is today. The departmentstore huffed and puffed, but its status was clearly under threat. But what a difference it already makes.
stores in Vietnam. The retailsales mix is nicely balanced, with 30 per cent hardlines, 39 per cent food and 31 per cent fashion. Among the highlights was a successful relaunch of Central Chidlom (popularly known as Central DepartmentStore) in downtown Bangkok, with a new multi-level designer wing called Luxe Galerie.
Retailsales increased by 1.3 per cent increase in departmentstores and a 3.3 Retailsales are still well ahead by 16.5 Retailers will need to look at ways to lower costs, streamline operations and reduce disruptions to avoid losing their competitiveness. per cent month on month in July and are 16.5
Following on from our post about organic skincare brand, Neal’s Yard Remedies – it looks as if the iconic retailers are onto a winner as the latest retail trends suggest that health and beauty is a growing area of focus for many retailers – including major departmentstores John Lewis , Debenhams and Harvey Nichols.
E-commerce in Singapore had a couple of bumper years in 2020-21, but online sales growth plateaued in 2022 as a percentage of Singapore’s retailsales : for Capitaland’s malls, many of them part of integrated mixed-use projects, it was time to start taking full advantage of normalisation. Retail occupancy is 98.3
And the third factor is history: there is a school of thought – understandably strong among retailers – that rents were set too high leading up to the pandemic and that the period from 2020-22 reset them at more realistic levels. This means shopping malls and strips in secondary locations will be getting crumbs. per cent and 79.5
After a period of months where it looked like sales were slowly but surely building a head of steam, governments suddenly slapped them down again with some of the tightest restrictions the world has endured during the past 18 months. Meanwhile, in Vietnam, retailsales were down a calamitous 33.7 per cent and 53.8
If one can imagine a Noah’s Ark for retail concepts, survival depends crucially on demonstrating that you really are a distinct and superior species, that consumers should come here to shop and not there. As incomes grow, consumers are gravitating to these one-stop-shop malls. million, up 1.4 per cent from US$486.3
A surge in early shopping got retailers off to a strong start this holiday season, spurring 8.5 Notably, online sales jumped 11 percent compared to the same period last year. The study – which excluded automotive sales – measured in-store and online retailsales across all forms of payment.
Before the pandemic, the Chinese special administrative region had bucked global trends of declining demand for multi-brand departmentstores and ultra-luxury brands largely due to its attractiveness to high-spending mainland visitors. British luxury departmentstore Harvey Nichols is at the forefront of the changes.
Citing CBRE data, CapitaLand reports that in the second quarter, rents increased by nearly 6 per cent, year over year on Orchard Road, Singapore’s most celebrated shopping strip. Now the bad news For retailers, it hasn’t been that easy in the island state of late, with retailsales growth, excluding motor vehicles, dipping by 2.5
For some time now, the growth of e-commerce in the Lion City has been falling back in line with the growth rate of retailsales as a whole. 2023: the year of normalisation Retailsales per square foot (or per square metre according to your taste) for CapitaLand’s malls increased 10.2 per cent versus 4.1 million, up 14.4
US departmentstore Nordstrom has teamed up with Instagram page-turned-online marketplace Black Owned Everything to spotlight four up-and-coming Black-owned fashion and accessories brands alongside global sneaker giants Nike and Jordan as part of its Nordstrom x Nike initiative.
As businesses continue to cycle through last year’s Delta lockdowns, “substantial” sales increases were seen across all categories. per cent followed by departmentstores at 53.6 Other retailing grew by 11.5 per cent while household goods retailing increased by 10.6
But 10 years later, advertisers are falling back into old habits ditching long-term brand-building efforts to purely focus on activation campaigns that deliver sales in the short term. And that applies equally to retailsales data. It’s all too easy to get stuck dissecting the monthly ABS retail data.
Australia Post’s 2022 e-commerce industry report told us that online retailsales represent around 20 per cent of total retailsales , with shopping habits being reformed during the pandemic. Thirdly, e-commerce should be seen as a channel that can drive shoppers in-store for intentional purchases.
Even departmentstores like Takashimaya, Isetan and Aeon have had a fair measure of success in non-Japan Asia, notwithstanding their recent problems due partly to the pandemic. It isn’t going to work on every street corner, but it’s something that goes well in higher-end shopping malls and streets in urban locations.
jewelry sales were up sharply in July compared to the same month in 2020 as well as in 2019, according to Mastercard SpendingPulse. The growth was part of a larger trend in which retailsales overall grew for the 11th consecutive month. Jewelry sales were up 82.6 Read the press release: Retailsales in the U.S.
per cent, with the Plaza format, which accounts for about two-thirds of its shopping centre portfolio, sitting at 81.1 By the standards of world-class shopping centre operation, that’s a bit ordinary, and occupancy in the Vincom+ format is scruffier still, at 73.2 The total portfolio occupancy rate sits at 84.5 per cent.
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