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Inflation has an impact on nearly every aspect of the economy, including raw material costs, wages, transportation, and, ultimately, the prices consumers pay for goods and services. Rising costs and shifts in consumer behaviors have a significant impact on the retail industry.
Southeast Asia as key market We see Malaysia as a prime opportunity, given its status as one of Southeast Asia’s largest and most developed economies,” Mohammad A Baker, CEO of GMG, told Inside Retail. In 2022, GMG further strengthened its position by acquiring Nike-only stores from SUTL Corporation in Singapore and Malaysia.
All these different sensory elements, including the music playlist, dont feel forced; it feels very authentic in the store, said Jaime Bettencourt, responsible for revenue growth, brand strategy and content marketing at Mood Media in an interview with Retail TouchPoints.
Its differentiated and elevated positioning within the market and its alignment with our strategic initiatives of expanding in international markets, accessories categories and direct-to-consumer channels make this a highly attractive and complementary addition to our portfolio.
The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule confirming that buy now, pay later (BNPL) lenders are in essence credit card providers, meaning they will be required to provide consumers with legal protections and rights, including in cases of disputed charges and issuing refunds. 1, 2024.
Though many of the economic indicators were excellent, including the low unemployment numbers and strong GDP growth, there was a lot of uncertainty in the market throughout the year. from 2022, while Cyber Week overall sales were $38 billion, an increase of 7.8% vs. 2022, according to the CNBC /NRF Retail Monitor.
Nearly half ( 46% ) of consumers game to meet their desires for creation, imagination and self-expression , a 10% increase over 2023, according to research from Fandom. This represents a massive opportunity for brands to build a community of fans on Roblox and get the attention of consumers who spend time mostly in digital spaces.
Located at Chadstone Shopping Centre in Melbourne, the 250sqm flagship offers Gentle Monster’s full range of product and experience to Australian consumers. Gentle Monster represents innovation and disruption in the fashion eyewear category that we are confident the Australian consumer will embrace,” added Ngadiman.
After a slower-than-expected 2022 holiday season, many retailers have tightened their budgets in 2023. While optimizing budgets in times of financial uncertainty makes sense, such times also provide smart marketers with easier opportunities to improve market position. So where should digital retailers focus their investments?
Their ability to create highly curated experiences that are tailored to regional tastes, cultural preferences, and local consumers is made possible by this approach. In a world where consumers value authenticity, it’s important for brands to reflect the cultural heritage of a location to avoid appearing detached or overly globalised.
Heavy online marketing spending by Temu and Shein is making it more costly for other retailers and brands to reach shoppers on Black Friday, marketing and industry experts say, with both platforms bidding heavily on search keywords used by competitors. Shein did not immediately reply to a request for comment.
Understanding Wine Consumer Behavior Trends Today’s wine buyers skew older and are more affluent. For example, 16% of consumers purchased natural wine in 2021 and sparkling wines are also rising in popularity. Driving Direct-to-Consumer Wine Sales Many wine and spirits brands are capitalizing on a direct-to-consumer model.
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CPG brands have been trying a lot of new things to connect directly with their consumers, including DTC websites and retailer-agnostic loyalty programs , but Frito-Lay has pulled a new one out of the bag: a Doritos -themed restaurant. However, the new Crypto.com Arena restaurant marks the concept’s first permanent home.
Misfits Market has introduced Fulfilled by Misfits (FBM) , offering its logistics platform for perishable brands to store, pick, pack, fulfill and deliver their products nationwide. The solution leverages Misfit Market’s existing infrastructure and in-house technology to provide a simple, customizable solution for perishable businesses.
The global economy is still in flux,” said Rob Garf, VP and General Manager of Retail and Consumer Goods at Sales f orce at a recent media briefing. billion commerce-focused consumer interactions as well supplemental consumer research. So what does all this mean for the holiday season? Register here.
Golden Goose aims to gain more market share in Australia by establishing a strong retail presence and building lasting community connections through new retail experiences. Inside Retail spoke with Mauro Maggioni, Golden Gooses Apac CEO, about how the business plans to grow its market share in the global US$39.91
And some seven years on, much to the dismay of retailers, it is now starting to shake the tree and become a real force in the market , as Australian shoppers increasingly turn to alternatives to manage the cost-of-living crisis. billion in 2022. Amazon announced it posted over $3.1 million customers, reaching 7.9
However, consumers are still spending, the labor market remains tight, and the Adobe Digital Price Index recently posted an overall 40-month low, an encouraging sign for online shoppers: Adobe reported that online prices fell for 11 out of 18 tracked product categories on an annual basis. year-over-year.
by storm, rising to the top of the app charts and garnering millions of fans, until consumers began to realize the cost of those ultra-low prices — long delivery times and often poor quality products. A former CFO for Shutterfly and Lexmark , she joined as Wish’s CFO in November 2021 and added COO to her title in late 2022. “In
Perhaps the first sign of fresh trouble at the beleaguered fast fashion chain was the December 2024 departure of CEO Winnie Park , who had been at the helm since 2022 and left to lead Five Below. During her tenure she made a concerted effort to refresh the brand with a focus on younger consumers and enhanced omnichannel capabilities.
Under IMG’s leadership since 2005, AFW has elevated resort collections, showcased Indigenous designers and initiated a consumer-integrated model. The emergence of consumer-facing fashion events including PayPal Melbourne Fashion Festival and Melbourne Fashion Week has led some to question the relevance of a closed industry-only event.
It’s hard to find a topic that all marketers agree on, but if there is one, it’s likely that programmatic ad buying continues to be a dominant channel for advertisers looking to scale. This agility improves campaign effectiveness and allows them to adjust strategies quickly in response to market changes.
With consumer sentiment and discretionary spend down, many retailers are already facing reduced profit margins and a higher cost of doing business, making hefty discounting for prolonged periods a particularly costly exercise. LSKD’s approach has also garnered the attention of consumers and its community. “We
In an era of goldfish-esque attention spans, short videos have emerged as a powerful marketing tool. Video is Eating the World In 2022, 86% of internet traffic was consumed by video streaming. market will drive seismic changes in consumption habits, as proven by its success in Southeast Asia and China (via Douyin).
from last year, according to Mastercard SpendingPulse , the marketing intelligence firm of Mastercard , which measures in-store and online retail sales across all forms of payment. “It’s It’s not a blowout number, but it’s in line with lower inflation, and the consumer will be spending.” This holiday season, U.S.
Getty Images’ VisualGPS consumer survey finds that 79% of Americans are excited about the potential of using AI to increase productivity, and a study by SAP Emarsys confirms that so far, 77% of consumers enjoy the personalized shopping recommendations that this new technology enables.
“The addition of food delivery to Uber’s ongoing partnership with Waymo reflects both companies’ mission to encourage zero-emission trips and unlock greater innovation for consumers and merchants in Phoenix and beyond,” wrote Noah Zych, Global General Manager for Autonomous Mobility and Delivery at Uber Eats in a blog post.
With affordability and sustainability remaining top of mind for Australian consumers, an increasing number of individuals are turning to and relying on second-hand products. The resale furniture market in particular appears to be experiencing a boom period.
When Edward and Judy Kwon founded Calpak 35 years ago, they modernized the luggage and travel goods sector by investing in innovative design and marketing. Calpak put its brick-and-mortar plans on hold during the pandemic but then doubled down in 2022 when “revenge travel” ramped up and demand was more sustained.
The reason gen AI rapidly gained mainstream adoption after OpenAIs launch of ChatGPT in 2022 was due to its ability to create novel content (text, images, music) from user prompts. Many gen AI applications can advance a retailers consumer-facing experience; lets examine some use cases that support these three consumer research areas.
Walmart and Petco are just the latest examples of a trend among both specialised pet care retailers like Petco and Chewy, and mass-market retailers such as Kohl’s, and Lowe’s, of expanding pet care services and product ranges to meet the needs of an increasingly pet-centred society. The pet perfume market alone was estimated to be worth US$1.4
According to the September 2024 Market Materials Report from Textile Exchange, of the 124 million tonnes of textiles produced globally in 2023, less than 1% of the total fiber market consisted of recycled textiles. Currently, only a small percentage of discarded textiles are recycled.
Complicated Competitive Dynamics GoodwillFinds.com was launched in October 2022 in a bid by the 120 -year-old thrift store chain to grab a larger piece of the growing online resale market. This model can often provide better margins for operators than an Ebay -style auction marketplace like ShopGoodwill.com.
Some stats support the gloomy outlook: according to Kearney , 40% of consumers feel they have too many subscriptions, and subscription ecommerce is predicted to have its slowest growth year on record in 2023 ( Insider Intelligence ). Today, brands are competing for consumers’ share of wallet. The reality though is less stark.
For the past few years, consumers have been more than willing to dip into their bursting savings accounts – thanks in large part to the pandemic – to spend on Black Friday. per cent up on 2022. The post How FOMO drives consumers and retailers to participate in Black Friday appeared first on Inside Retail Australia.
Ramadan continues to be a crucial shopping period across Southeast Asia, with evolving consumer behaviours and market dynamics shaping the retail landscape. According to the company, from 2022 to 2023, sales increased by 8 per cent, followed by an even stronger surge of 16 per cent from 2023 to 2024.
While the 2022 holiday season was by all accounts a success, retailers may want to buckle down as they head into the new year: four out of 10 U.S. While the 2022 holiday season was by all accounts a success, retailers may want to buckle down as they head into the new year: four out of 10 U.S.
One Mile made its runway debut at Afterpay Australian Fashion Week 2022 with its Resort ’23 collections. Tall order Tailoring clothes for taller females and catering for a gap in the market alongside the average female consumer demographic has further solidified the brands place in a competitive clothing market.
Parade was founded by Columbia University dropout Cami Téllez in 2019, with a purpose to disrupt the market and champion inclusivity, body positivity and sustainable manufacturing. It was valued at US$200 million in 2022.
True to form, Best Buy turned its eye to advertising’s newest tech-infused channel to reach this consumer segment — connected TV (CTV). CTV viewership is growing every year as more and more consumers “cut the cord,” and the vast majority of U.S. But just as the number of CTV viewers is climbing, so is the number of advertisers.
As it becomes harder to navigate uncertain markets and the ever-evolving consumer sentiment, Burberrys recent turnaround offers valuable lessons for those seeking good sustainable success in 2025 and beyond. Thoughtful pricing architecture can broaden your audience while preserving your place and position in the market.
Stuart and Samantha Cook launched the vegan fast-food brand amid rapid growth in the plant-based food market and had plans to franchise the chain. A shift in consumer habits has been blamed for the brand’s difficulties. However, their assessment, like ours, is that Flave is slightly ahead of current consumer habits.”
In 2022 , Levis announced plans to shift its strategy toward DTC, with plans for 400 new stores and a revamped ecommerce experience. Other initiatives, like a conversational fit guide on Amazon Alexa , a collaboration with Beyonc , fun marketing stunts like 12-foot-tall pairs of jeans at U.S. Levi Strauss & Co.
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