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The recent opening of Lululemon’s new flagship at Emporium Melbourne marked a key milestone for the brand and its robust growth strategy in the region. Inside Retail spoke with Paul Tinkler, vice president of Lululemon ANZ, about the significance of this opening and how it fits into the activewear brand’s broader business strategy.
per cent but the sale of shophouses cut roughly in half. Someone remarked a while ago in reference to the excess of retailspace and an alarming number of dead malls in the US that the country was not overbuilt, but underdemolished. National retailsales tabulated by Vietnams National Statistics Office (NSO) grew by a hefty 9.0
They are now so big and so powerful that Amazon is the default,” Nathan Bush, director of e-commerce strategy at eSuite, told Inside Retail. “Many domestic retailers were not strong on digital, especially department stores which offer similar home product ranges,” she told Inside Retail. . billion in 2019.
This is not just a consequence of new retailers coming in; tenant retention also continues to improve, with the rate rising to nearly 86 per cent, from 83 per cent last year. Now the bad news For retailers, it hasn’t been that easy in the island state of late, with retailsales growth, excluding motor vehicles, dipping by 2.5
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. Considering these numbers, retailers have valid reasons to go above and beyond to capture their fair share of the market.
With retailsales declining for four consecutive months as consumers cut down spending, Raffles City is now implementing a strategic shift to increase footfall, adapting to the changing market dynamics.
E-commerce marketplaces to gain share In 2025, Coresight Research expects online marketplaces will capture an even larger share of retailsales, and may even potentially outpace traditional retailers, as consumers continue to favour the convenience and competitive prices that platforms like Shein and Temu offer.
To say that the Covid-19 pandemic disrupted the retail industry would be an understatement. However, with international borders open again, and everyone seemingly heading to Europe in recent months, the travel retail market is booming. per cent ove overall sales.
Hong Kong’s total retailsales are down about 20 per cent from 2018 levels and in an effort to reduce the reliance on luxury spending by Chinese shoppers, the government and tourism sector are trying to woo visitors to nature and leisure attractions. It remains unclear how effective that strategy will be to lure back spending.
In response, these brands have discovered an alternative path to capitalise on this transformation by forging partnerships with locally respected brands to synergise their efforts in luxury retail. This includes joint ventures such as Tata-Starbucks, Reliance and Shein, and Aditya Birla Fashion-Galeries Lafayette, among several others.
This coming year will set the new shopping trends in stone for the next decade and create a new standard for retailers to pay attention to and master. Here are the top tips for you to take note of as we head into 2022 with a new strategy. As you create your strategy for next year, keep customer convenience as your driver.
According to the Centre for Retail Research, almost 14,000 shops have permanently closed this year in the UK which is a 24.8% Meanwhile, research from consultancy Altus Group revealed that 38% of UK property developers had switched their retailspaces to other uses. rise for the same period last year.
The retail industry is undergoing a transformation in the first half of 2024, addressing challenges that demand agile adaptation to new trends , especially since the COVID-19 pandemic. growth in retailsales , the highest increase recorded in the European Union.
It’s a crucial strategy to make your products stand out in a competitive retailspace. Now, visual merchandising is an essential strategy that brands use to sell more products inside the store. Your visual merchandising strategy includes everything customers see as they pass by your merchandise.
While it’s fun to be part of a small and diverse group, how will it help you stand out from the competition when presenting your brand to retailers? Retail is tough and is not for the faint of heart. I have been in the retailspace for nearly 30 years and have work with product brands ranging from startups to the big household brands.
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 retail markets. Sometimes, the very agency you trusted to drive your retail success may start holding your business back.
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.
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