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Despite modestly positive expectations for 2024, the luxury retailmarket did not pan out as merchants had hoped. According to a 2024 report released by global management consulting firm Bain & Company, this market dropped two per cent from an all-time high of US$387 billion to US$381 billion. billion market in 2023.
For some, that will include getting married, and the wedding retail industry is already experiencing a few notable shifts. Socialmedia shapes wedding retail Christina Wettstein is the co-founder of bridal retail companies Melange de Blanc and Coterie White and has been in the wedding apparel industry for over 17 years.
Statista has reported that the global value of social commerce will grow from US$1.3 In late 2023, Salesforce reported that 59 per cent of consumers had shopped on socialmedia, a massive jump from 15 per cent in 2021. Furthermore, it reported that half of shoppers are now using socialmedia as their primary discovery channel.
In one of our stores, we also have social fitting rooms where you can explore six different themes and take photos for socialmedia with these themes – in this case, from Korea, including Jeju and K-pop. It’s not just an Asian phenomenon; it’s scaling up and spreading to other markets.
Asia’s answer to slow fashion, Supermint, has just unveiled its first Hong Kong store at mixed-use retail destination PMQ. We believe we can open up more possibilities for slow fashion and make the fashion journey sustainable. “We Modern women are independent and have unique fashion tastes.
Streetwear brand Ksubi is making a splash in the Australian retailmarket, with new stores in Sydney and Melbourne, and a high-profile creative director in Pip Edwards. This story first appeared in Inside Retail’s 2025 Australian Retail Outlook, powered by KPMG.
They join a host of Aussie-born apparel and lifestyle brands, including July, Princess Polly, Culture Kings, Bared Footwear, Papinelle and Frankie4, that have been expanding their omnichannel presence in the American retail landscape over the past few years. However, it hasn’t been all smooth sailing, especially in recent years.
Kicking things off with a Kickstarter campaign Like many indie brands on the market today, a large source of funding was found via Kickstarter, a public funding platform for creative and entrepreneurial projects. Lisbona partially credits the company’s popularity on the video-focused socialmedia platform to its success in the market today.
These brands sell their products directly to consumers, circumventing traditional intermediaries, across a range of sectors including fashion, beauty, health and consumer electronics. Estimates suggest that India is now home to over 800 DTC companies, with the ecosystem’s market value reaching about US$12 billion in 2022.
The 7-month-old marketplace has even begun outpacing China’s national retailers, establishing itself as a major player in the industry – and raising the eyebrows of competitors like Shein with its aggressive customer acquisition tactics. More than half of its followers are Gen Z consumers who prioritise low-cost goods.
Last year, Gen Z fashionretailer Princess Polly made headlines with its fellow A.K.A. Brands, when the retail business was publicly listed on the New York Stock Exchange. We’ve made some pretty big waves in Australia and the online fashion space. Canada is a focus for us as well.
According to an International Data Corporation (IDC) study, AR is anticipated to see compound annual growth rates of up to 135 per cent in retailmarket spend by 2023, and Snap is eager to get a slice of the pie. The client can then share the look to their socialmedia, automatically tagging the salon in the process.
Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean department store Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Some of the brands have a history with Robinsons, while others are new to the department store. .
Looking at current activity in the market, Cano said certain trends are standing out for the team at Propability. Primarily, this is that more stores are investing in props and displays in order to create moments that can be shared on socialmedia.
More recently, the brand has been making a play for the North American retailmarket and opened its first US-based bricks-and-mortar store in the stylish neighbourhood of Nolita in New York City this fall. Inside Retail : How did the idea for Status Anxiety come about? Much to my surprise, people loved it!
Blackmores Vitamins, Bubs baby formula and A2 milk) but also some new entrants who had done their research and invested heavily in their local branding and marketing. Research the right market. The future of China’s retailmarket is all about e-commerce. personal care. ? home, mother and infant. ? health supplements.
While these consumer behaviours are wide and varied, we can expect marked growth in rental, re-commerce and subscription retailmarkets and a decrease in people buying ‘brand new’ products. Customers will also seek multifunctional products and consider ways to extend the life of their goods.
The pop-up or flash retailingmarket in the United States is estimated to be a $50 billion industry, and it’s for good reason. A few years ago, Gucci used virtual reality to allow customers to try on shoes, and other brands are producing virtual fashion shows. The Concept.
Overall, the worth of the global sportswear retailmarket has increased by 22 per cent, to US$666.2 The rise in health awareness, along with more accessible digitised-exercise amid the pandemic, has expanded the Asian sportswear market tenfold. billion ($960.8 billion), Euromonitor reports.
It’s crucial for small and large businesses throughout the retail industry to know what’s next. Here’s a look at retailmarket trends in 2021 and beyond. What Are Retail Trends and How Do You Look Out for Them? 10 Retail Trends to Watch Out For in 2021 and the Coming Years.
This, while not equally applicable to fashion, electronics, etc., In this respect, when asked which aspects of the shopping experience they valued most, 83% of Internet users surveyed last year by iVend Retail indicated quick and easy payment. In short, to showcase your brand values, how the shop contributes to CSR, etc.
When it comes to the scientific component: “Decades of customer research, driven by the overwhelming economic importance and growth of the retail industry, arm retailers with actionable data for effective merchandise strategies and best practices.” That’s just one example; bet you can think of s’more. Get Creative.
Indeed, the existential challenge facing most retailers today is how to command disproportionate levels of attention. Most importantly, consumers are looking to retail to play a more artistic role in their lives. They refe to retail not as commerce or shopping, but as “entertainment.”
When catering to the socialmedia driven generation, it is imperative for brands to make their product, service or experience as a whole as attractive as possible. The value of socialmedia as a marketing tool is beyond measure. The best part? Hermès Carré Club.
Data is the lifeblood of successful retailmarketing. This is where tag management steps, ensuring retailers capture the right data, optimise website performance, and ultimately, drive meaningful insights. This is essential for making informed retailmarketing decisions.
Additionally, these products are usually far more price accessible than the luxury items they model themselves after, which has led to a surge of their popularity in the retailmarket. As Melissa Minkow, CI&Ts global director of retail strategy, told Inside Retail , This is definitely the right economy for dupes to thrive.
The retailmarketing landscape is more dynamic than ever, so understanding which trends are worth pursuing both from the consumers and the businesss perspective and which ones are just noise, will be critical to achieving growth in the year ahead.
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