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Asia Pacific’s airport retailmarket is projected to grow to US$33.8 billion by 2026, driving the global market to $63.4 According to GlobalData, the growth will be driven by the increase in retail space and passenger numbers as cross-border travel resumes and the relaxation of lockdown and duty-free regulations.
Leading market research firm Euromonitor International has just unveiled its 2023 rankings for the Top 10 fastest growing and biggest retailers in Asia Pacific, with Indonesia’s GoTo stealing the spotlight. Meanwhile, Chinese e-commerce behemoth Alibaba reigned supreme with a retail value close to half a trillion U.S.
The luxury retail landscape in India has long posed a formidable challenge for international brands. With a vast population still grappling with basic needs and a price-sensitive market, many global luxury players have incurred significant losses in the past. times by 2030, reaching a staggering US$300 billion.
The struggles of the UK high street and the acceleration of retailsales from ‘bricks to clicks’ have never been more apparent than during the Covid-19 pandemic. With e-commerce sales reaching 21.8% Jon Walkington, Retail and System Integrator Sales Director, Schoeller Allibert UK.
In an era marked by economic flux and shifting consumer preferences, the global retail landscape stands at a pivotal juncture, ripe with both challenges and opportunities. China is the world’s largest retailmarket, accounting for almost 50 per cent of global retail transactions. China’s e-commerce market, worth $1.9
Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! Network Rail Property has released its latest quarterly retailsales figures (Q2 covering July to September 2024), revealing a total sales* uplift of +10% and +6.3%
Influencer marketing is a form of marketing where businesses partner with social media influencers to promote their products or services. Retail-specific influencers play a significant role in promoting products and driving sales for brands at specific retailers.
Annalect’s latest Marketing Mix Modelling (MMM) analysis 1 took a deep dive into the world of Aussie retail and it’s borne out a lot of the behaviour I describe above. Secondly, it speaks to a certain level of digital preparedness from the retail industry when the pandemic struck – or at least the ability to change tactics quickly. .
Thailand’s HomePro is strengthening its market leadership in the country’s DIY/home improvement industry in the first half of 2023. According to Statista Market Insights, the DIY and Hardware market was worth US$14.21 According to Statista Market Insights, the DIY and Hardware market was worth US$14.21
Before 2020, when travel was easy and diplomatic relations were cordial, I placed great emphasis on the need to build trusted relationships on the ground in China as the foundation of a successful market entry strategy. Accept that China is a very different market to the one you’re used to. Research the right market.
Continuing the series of conversations with RBC Capital Markets, a collaboration which began several years ago, this time revolves around discussions on the market situation in Spain, its characteristics regarding retailsales costs, as well as variations in consumer behavior in Europe and Spain, pre-owned market outlook, among other topics.
With the big two dominating the retail landscape with 65 per cent of the retailmarket, most consumers have limited choice when it comes to buying groceries. The Australian Retailers Association (ARA) suggests 2-3 per cent of total retailsales are being lost, creating a major impact on overall profit.
The luxury retailmarket also expects spending to increase through 2027, up 5.4 This growth is led by millennials, people aged between 25 to 39, who have overtaken Baby Boomers as the largest generational group in Australia, now accounting for 22 per cent or 5.6 million of the population. per cent annually, mainly by the same category.
As Neil Saunders, managing director and retail analyst at GlobalData, told Inside Retail , “Having produced a string of good numbers over the past few years, Walmart is currently one of the stars of the retailmarket.” In 2022, Walmart accounted for approximately US$500 billion in retailsales.
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
Indeed, even Sydney Fish Market now has its own online commerce site. Yet for retailmarketers, handing over these keys to the kingdom is no easy feat. During the pandemic’s first 14 months, Australia’s e-commerce market grew from around 9 per cent of the overall retailmarket share to 13 per cent.
They’re focusing on core markets where they can make money,” Nick Bradstreet, Savills’ head of Asia Pacific retail, told Inside Retail. Hong Kong is one of these core markets.” There is a caution in the market,” Bradstreet said. appeared first on Inside Retail Australia. billion by 2030.
It experienced year-on-year sales growth of 18.7 Retailsales are off to a flyer in Korea so far this year. Total retailsales in the country were up 7.7 More significantly, sales in January-March were well above the level of early 2019 (+15.1 For department stores specifically, sales were up 16.7
It allows brands to process customer data in real-time, optimise relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies. billion on online retail , accounting for around 13.2 per cent of the total retailsales (NAB). Are you ready to reimagine retailmarketing?
Reports have been circulating for more than a month now that Thailand’s Central Group is in talks with Vietnam’s Vincom Retail that could lead to the Thai company buying a majority stake. It is a particularly big headache in secondary markets and the non-CBD areas of the big cities. So far, it’s doing the trick. per cent.
Surviving and thriving in today’s competitive retailmarket requires more than offering quality products at best prices. Exceptional customer service goes beyond driving sales. The annual retailsales in the UK totaled 496 billion pounds in 2022, growing significantly over the last decade.
Like other online marketplaces, Better That takes a commission from all retailersales on its platform, but unlike the competition, it donates up to 25 per cent, with a minimum of 10 per cent, of its net commission revenue to charities and community organisations. We’ve already got 40-odd New Zealand retailers signed up.
The centre’s tenant lineup is a who’s who of high-end retail, featuring designers from all around the world. Prior to Gotemba, Japan’s retailmarket was tightly regulated and the industry in bad shape. Government statistics show that at the time of Gotemba’s opening, retailsales in Japan had fallen for 42 consecutive months.
The first premium factory outlet centre in Japan, Gotemba, was opened about 20 years ago, at a time when Japan’s retailmarket was highly regulated and, with no hyperbole, the retail industry as a whole was teetering on the brink after a full decade of recession and weak consumption spending.
Although many new product companies are finding success selling on Shopify or Amazon, online sales still only represent 20% of all retailsales, whereas offline channels like brick-and-mortar locations, catalog, TV Shopping and Reward and Incentive markets represent 80%. It is a $3.9
Many companies who are either just starting out, selling direct, or even on Amazon, don’t always understand the value and diversity of today’s multi-faceted retail channels. My goal this year is to create a broader awareness about the modern retail ecosystem and help young brands make better educated go-to-market decisions.
By comparing these numbers to your initial goals and projections, you can get a clear picture of how well your product is performing in the market. However, keep in mind that sales figures alone may not tell the whole story. Factors such as seasonality, competition, and economic conditions can also affect sales numbers.
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.
Experiential retail has developed out of the need to adapt to the changing market due to the rapid growth of the online market. The value of social media as a marketing tool is beyond measure. Like with STORY at Macy’s, it can be seen how the brand is aware of the power of marketing that lies in social media.
With total retailsales projected to reach $350 billion this year, Vietnam is rapidly becoming a key player in Asias retail landscape. Savills explores the key drivers of growth, market challenges and future opportunities shaping Vietnams retail industry this year. per cent year-on-year in Q4 last year.
How previous election seasons have affected the retailmarket When looking at all the elections from 1940 to today, retailsales have shown 0.8 This means it will be a bit more subdued for retail. per cent higher growth in election years than in non-election years. percentage points below the first three months.
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