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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.
Hong Kong retailsales continue to experience a recession, reporting a double-digit drop in two consecutive months in May and a 6.1 A government spokesman said the decline in sales was mainly due to the changes in the consumption patterns of visitors and residents, as well as the strength of the Hong Kong dollar.
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 retailsales.
To put these numbers into perspective, that is more than double what US consumers spent online on Black Friday 2017, which drove US$5.03 billion in e-commerce sales. “The So while Black Friday has changed, it’s still absolutely critical for retailers, even if the ways they need to take advantage have shifted,” Chernofsky concluded.
Go-to destination for grocery According to Statista , a German data and analytics platform, in the US, Walmart’s net sales grew by seven per cent year on year in the 2023 fiscal year. Currently, Walmart is the largest retailer in the US, with over double the retailsales of its nearest competitors. billion in 2017.
per cent and retailersales per square metre for the trailing 12 months were US$8,166, up 3.3 To be sure, these department stores don’t pay a lot of rent but their purpose, from the mall owner’s perspective, is to attract pedestrian traffic, a job that in many cases they are falling down on.
According to Hutcheon, pure-play online retailers need around three times the amount of space as a regular retailer, especially with the high volume of product returns that come with the territory. That space needs to be located somewhere,” he says. That’s why good locations have a very material impact on P&L.
Modern consumers, especially those within the Gen Z age bracket, are becoming increasingly interested in shopping methods that differ from the traditional e-commerce model of a direct-to-consumer website or shopping online via big-box retailers. To put that into perspective, social commerce sales were barely US$27 billion in 2020.
From a retailer’s perspective, retail brands are optimising their existing locations instead of acquiring new stores. Historically, they’ve done extremely well, and they want to optimise these locations,” he said. VICs contributed around 80 per cent of the company’s luxury retailsales in the region. “We
The centre is located in Fukaya City, Saitama Prefecture, north-west of Tokyo. From a tourist shopping perspective though, Fukaya is destined to be overshadowed by another Mitsubishi-Simon project, Gotemba Premium Outlets, about 200km to the south and within spitting distance of the famous Mt Fuji. .
Looking at the market, 87 per cent of retailsales in the beauty category are done offline. Adore Beauty is primed and ready to go into bricks-and-mortar retail. We are not looking for locations that are in the proximity of or going directly head-to-head with Mecca and Sephora.
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