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Ramadan continues to be a crucial shopping period across Southeast Asia, with evolving consumer behaviours and market dynamics shaping the retail landscape. Growing demand has led some retailers to operate 24 hours a day to accommodate changing consumption patterns.
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.
For product startups, partnering with a retailsales agency often feels like a natural step. These agencies bring expertise, established relationships, and credibility to help your brand penetrate retailmarkets. If your sales numbers are stagnant or, worse, declining, its a glaring red flag.
As inflation and rising interest rates start to bite and reduce consumers’ spending capacity and confidence, Australian e-commerce sales declined sharply in July. . About the author: Merline McGregor is GM at Pattern Australia. The post E-commerce sales fall as cost-of-living pressures hit consumers appeared first on Inside Retail.
In a rollercoaster year for retailsales, a survey of retailers has indicated an optimistic outlook for store network growth. CBRE said events and the return of international students and tourists as well as a return of office workers would be positive drivers for CBD retailsales in the year ahead. per cent to 13.9
However, behind the headline numbers sits a range of spending patterns. For example, general retail recorded the strongest growth among discretionary categories, rising by 5 per cent. At a sub-category level, there are even bigger movers, which present opportunities for some retailers and heightened competition for others.
So far, Australian department stores appear to have weathered the pandemic better than their global counterparts, with most having only had moderate store closures and delivering relatively strong half-yearly results, with retailsales rising at twice the predicted rate from March 2021 to April 2021.
That timeframe coincided with Corbett’s tenure as CEO and they were a successful team, leveraging the Dan Murphy’s liquor chain acquired by Woolworths in 1998 to national market leader. However, he may not know it as well as they believe, given significant changes in the market. Sales have increased by around $1.5
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.
The report found that Australians between 25-29 were more likely to be in the rental or housing market, and were subsequently making the most significant spending reductions to afford rising costs. Volley content and marketing manager Anna Geason told Inside Retail that the usual Volley customer is usually aged between 35-44 years old.
The shift in spending towards online channels is another permanent outcome of the pandemic, with annual events such as the Black Friday and Click Frenzy sales helping to propel end-of-season retailsales well into November , permanently changing the flow of consumers’ retail spending patterns.
Pattern Australia has released its fourth annual report on consumer considerations and e-commerce. Key findings of the report include: Amazon Australia has held onto the growth from the previous two years, maintaining over 50 per cent saturation in the local market. You can download the full report here.
Global retailers, as opposed to those operating in a limited geographic space, are in the enviable position of being able to offset weakness in one area with strength in another. Now, those retailers are having to modify their expectations. Sales up and inflation non-existent On the surface at least, things are by no means dire.
The big question that remains to be seen is whether they will revert back to their former purchasing patterns and forgo their reliance on e-commerce to keep their refrigerators and pantries stocked post-pandemic. Globally, Asia dominates the e-commerce universe, accounting for over 50 per cent of all retailsales.
Aeon Mall, Japan’s pan-Asian mall developer, is slowly but surely engineering a shift in its development focus from Japan to growth markets in China and Southeast Asia. As a result, the contribution of those non-Japan markets to revenue can be expected to increase steadily. In June, retailsales were up 2.0
Multi-level marketing has touched us all – whether it be purchasing beauty products, essential oils, or health supplements from a friend through social media, or receiving an invitation to join a team of seemingly successful people working their “side hustle.” The potential for legal snags may be hidden in the seams.
Brands that had previously relied on bricks-and-mortar sales had to accelerate their e-commerce strategies, TikTok became an extremely effective advertising and marketing tool, and certain retail categories like travel retail saw their sales drop virtually overnight. The market is expected to grow to US$126.48
Walmart] would undoubtedly have seen Amazon’s massive growth over the past few years take a big chunk out of their market share, necessitating a need to win back their customers’ attention with a reinvigorated, integrated omni-channel shopping experience,” he told Inside Retail. Chia pointed out that Walmart only accounts for 6.3
And while the business’ retail division is ending the year on strong footing, potentially more impressive is its digital uptake. Donohue noted that the group sees an opportunity to better personalise its marketing content for its growing loyal customer base: with the ‘My Dan’ loyalty program jumping 15 per cent to over 4.5
With consumer confidence well below 100, inflation high, and interest rates fuelling concerns about mortgage stress and negative equity – and the continuing spectre of recession – we would expect to see highly predictable patterns of behaviour. I can reveal that retailsales for Q1 of 2023 are forecast to be $99.9
I’ll start with a particularly interesting one that has strong voices on either side: what proportion of sales will be online in 2022? Last year, I interviewed Jonathan Reeves from Eagle Eye for my Shopology show and he predicted that online would account for half of retailsales by 2030. Now it doesn’t seem so far out of reach.
Indications are that this heightened performance was driven by elements of retail strategy and promotional activity across the retailsales industry during this period. In the first full month since the EU referendum result, like-for-like retailsales jumped by 1.1% Food sales rise.
Visual merchandising is a marketing practice that retailers and consumer products companies use to capture people’s attention so they’re more likely to purchase something. Since then, the market has become saturated with competition. Many retailers also practice visual merchandising in their stores.
According to a report by Maersk, 40% of retailers have wanted to increase the resilience of their supply chains since the global pandemic, which impacted businesses. Challenge 2: Efficient Inventory Management Challenge: Maintaining optimal inventory levels is a critical aspect of retail.
After a month of fasting from 23 March to 21 April, Eid al-Fitr, the festival of breaking the fast, will be celebrated for around two days, and will most likely lead to an increase in retailsales. Sales figures continued to rise during Ramadan until approximately one week before Eid.
How previous election seasons have affected the retailmarket When looking at all the elections from 1940 to today, retailsales have shown 0.8 Whether this pattern holds true for the 2024 election remains to be seen. This means it will be a bit more subdued for retail. Businesses, too, feel an impact.
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