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Three key takeaways from Wesfarmers’ strategy day

Inside Retail

On Thursday morning, the heads of Wesfarmers’ retail businesses, Bunnings, Kmart, Target, Catch and Officeworks, presented their growth strategies to investors at the company’s annual strategy day. One area where customers shouldn’t expect to see much change in the near-term is in the look and feel of Target stores.

Strategy 246
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David Jones, LSKD reveal how their Black Friday sales are performing so far

Inside Retail

This year, David Jones has expanded its Black Friday offering in a number of ways, upping the number of offers from last year to over 400 and going beyond discounting alone to promote exclusive offerings from brands only available at the department store. It also provided customers with more time to shop these deals.

Promotion 241
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Retail expert on China’s department store dilemma and potential growth drivers

Inside Retail

per cent) of surveyed department store operators expect their sales to grow in 2024, a significant decrease from last year’s 85.7 The report revealed that while department stores and convenience stores experienced higher growth rates than total retail sales, supermarkets faced negative growth for the first time.

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Department Stores – what does the future hold?

Retail Focus

The huge increase in online shopping over the past decade or so has had a major impact on department stores, with many consumers turning to Amazon, eBay and other online shops for shopping, rather than a more traditional trip out to a physical store. Changing culture of shopping.

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Why luxury Aussie retailers are missing a major consumer segment

Inside Retail

According to Bastion Insights, a strategy consultancy specialising in cross-cultural insights, luxury Australian retailers have – by and large – struggled to effectively engage with local consumers of South Asian or Mainland Chinese descent.

Consumer 263
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Generative AI is supercharging retail, what does this mean for consumers?

Inside Retail

So as more and more retailers integrate the benefits of AI into their growth strategy, what will be next for this transformative technology? Category management – for example, range and assortment planning, pricing strategies – is a typical use case where AI can augment human decision-making. And how will it shape the way we shop?

Consumer 266
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‘Everybody’s got a Levi’s story’: Chip Bergh reflects on his legacy

Inside Retail

Bergh, who has served as president and CEO of Levi Strauss & Co since 2011, is reflecting on his legacy as he prepares to hand over the reins of the $6 billion global business to his successor Michelle Gass, the former CEO of American department store chain Kohl’s, who joined Levi’s earlier this year. It was pivotal,” he says.

Tailored 245