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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%
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.
Top 10 fastest growing retailers Amid the dynamic and competitive retail landscape in 2022, ‘GoTo Gojek Tokopedia PT’ and Singapore’s ‘Sea Ltd’ emerged as standout performers, achieving retailsales growth rates of 44 per cent and 43 per cent, respectively.
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% References: 1 E-commerce share of UK retailsales 2019-2024, Statista.
Notably, the sales of luxury cars, predominantly dominated by Audi, Mercedes-Benz, and BMW in recent years, have reached record-breaking numbers, with all three brands witnessing nearly 100 per cent growth in retailsales compared to the previous year.
China is the world’s largest retailmarket, accounting for almost 50 per cent of global retail transactions. Despite sales remaining below the pre-pandemic level and weak consumer sentiment, retail growth is expected to reach 5 per cent from 2022 to 2027. It was valued at $3.8 trillion from 2022 to 2027.
By closely tracking these metrics, you can determine how effective your partnership with retail-specific influencers is. From there, you can adjust the content strategy accordingly to improve your campaign and drive more retailsales. Marketing Maven can help you find influencers based on your budget.
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.
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.
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.
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. . Some of the lift in retailsales we can also put down to a siege mentality in the face of uncertainty – remember when you couldn’t buy toilet paper for love nor money?
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.
billion on online retail , accounting for around 13.2 per cent of the total retailsales (NAB). Are you ready to reimagine retailmarketing? Click here to download the Retail Customer Engagement review and transform shopping experiences to thrive in these times of great change.
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 What’s driving the surge? However, significant challenges remain.
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. Better That is targeting 0.3
VICs contributed around 80 per cent of the company’s luxury retailsales in the region. “We Peculiar timing The investment announcement comes at a time when Hong Kong’s luxury sector is stalling as Chinese customers tighten their belts while Hong Kong shoppers are spending more outside the territory.
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.
Luckily, Vietnam has never been dependent on tourism to drive demand to the same extent as some of its neighbours, notably Thailand, so it is mainly domestic consumption that will underpin retailsales growth. So far, it’s doing the trick. per cent.
The company believes sales are now on a sustainable pathway, following 7.5 per cent growth in 2022, bringing total retailsales to 65.1 This was a significant milestone because, after a slump lasting two years, it finally brought sales above the level of 2019. Net profit came in at 1.6 billion THB, or about $72 million.
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.
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.
China’s online retailsales increased by approximately 12 per cent last year, despite the period of lockdown earlier in the year, and the latest forecasts suggest we will see further advances. The future of China’s retailmarket is all about e-commerce.
The retail landscape has been dramatically changing in recent years, forcing businesses to accommodate multiple channels when selling to consumers. Finding a way to sell across all channels, is where the concept of omni-channel retailing comes in. Retail stores is by far the largest retailmarket segment at $6.5
As Mark Twain once said, “The reports of my death are greatly exaggerated”; similarly, the death of brick and mortar has been predicted for the last 20 years, and by all reports, retailsales are up in 2021 and stores are expanding.
Contact us today to learn more about our services and start taking your product to new heights in the retailmarket. The post How to Measure the Retail Success of Your Product Launch appeared first on Retailbound. Our team of experts can provide the guidance and resources you need to ensure a successful product launch.
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. Sometimes, the very agency you trusted to drive your retail success may start holding your business back.
Online retail has been booming over the last couple of years and statistics show this method of shopping is only becoming more and more popular. According to figures published by Invesp, global online retailsales reached a total of 8.8% of total retail spending in 2018, compared to 7,4% in 2016 and 5,9% in 2014.
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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