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A year after the French luxury departmentstore originally announced it would be launching its first US location, Printemps is officially opening a brick-and-mortar store in the heart of New York Citys financial district on March 21. of experiential multi-brand retail with a high quotient of experience via hospitality.
Indian retail conglomerate Reliance Industries Limited has signed a franchise agreement with American luxury departmentstore Saks Fifth Avenue to expand its luxury retail portfolio through its subsidiary Reliance Retail, the company said in its third-quarter financial report last week.
While there is no one-size-fits-all solution to the tariff problem, and the situation remains fluid, several Australian retailers told Inside Retail they are recalibrating their strategies and looking to streamline their operations rather than retreat from the lucrative US market.
While American malls are experiencing increased foot traffic, there are a few things retailers need to be aware of before they rush back in with a new in-mall location. For example, one key difference between “malls today compared to yesteryear is that the anchor stores are different,” Saunders pointed out. “In That is less so today.
Central’s acquisition move is not unusual,” Selvane Mohandas du Ménil, International Association of DepartmentStores managing director, told Inside Retail. Central Group made the headlines again in 2022 after snapping up Selfridges Group, making it the largest luxury departmentstore operator in Europe.
First quarter results for calendar year 2022 are in for the three biggest Korean departmentstoreretailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine departmentstores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1
Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the departmentstore chain truly adapt to the needs of the modern-day consumer?
Despite shareholders unequivocal approval of Myers deal with Premier Retails Apparel Brands last week, many retail experts remain sceptical of the logic of combining the two businesses. I think bringing on 600 or 700 smaller stores only dilutes management focus, he added. I’m very cautious about [it], Walker said.
How do you market to the customer who can get anything they want anytime they want it? Selling to the 1 per cent has never been easy, which is why retailers that cater to this elite demographic have traditionally differentiated through private events, exclusive products, and hyper-personalised customer service.
Furthermore, e-commerce relies on data to quickly modify pricing strategies in response to market conditions. In order to counteract the rising costs of their products, a lot of online stores use transport strategies like free shipping levels or membership programs that encourage larger, less frequent orders.
Cutting through According to Annabel Pittendrigh, a client executive at Bastion Insights, many Australian retailers have missed the mark when it comes to customising and tailoring their marketing and communication efforts to resonate with these diasporic communities.
After forging a successful corporate career as a strategy and marketing executive for Japanese tech company Brother International, Lewisham was inspired to reflect on the potentially harmful ingredients in the skincare she was using after a series of personal events. IR : How does Emma Lewisham fill a white space in the beauty market?
The winter holiday season is a critical time for retail. November and December holiday sales average around 19% of total retail sales, per the NRF , and this share can be even higher for some departmentstores and specialty retailers. Emarketer anticipates that holiday retail sales will grow 4.5%
Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean departmentstore Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Some of the brands have a history with Robinsons, while others are new to the departmentstore. .
As more retail chains file for bankruptcy and close more stores amidst the ongoing pandemic, Amazon is looking for opportunities among the ruins. . The development of such a web of distribution and logistics capabilities encompassing large geographical markets cannot be very comforting for Amazon’s competitors.
And while Central Group’s publicly listed subsidiary, Central Retail, has denied any involvement in the transaction, multiple reports suggest that another division of the conglomerate is involved in the talks. Central’s superregional malls and departmentstores are ubiquitous in Thailand.
Luxury British store chain Selfridges is being sold to a Thai retailer and an Austrian property company in a deal that a source close to the matter said was worth around 4 billion pounds (US$5.37 With Selfridges, they hope to build a luxury departmentstore empire, complemented by an online business.
Because it’s more critical than ever for brands and retailers to understand how investors are analyzing and responding to the broader market, the Retail Innovation Conference & Expo , taking place June 13-15 in Chicago, is hosting a panel of investors to share their perspectives with an audience of brand operators and executives.
The global market for natural and organic cosmetics is projected to reach US$37.44 per cent from 2024 to 2032, according to Zion Market Research. China is the brand’s top market, followed by Australia, Hong Kong and then Japan. So far this year, the brand is seeing double-digit growth in most markets, including China.
Because it’s more critical than ever for brands and retailers to understand how investors are analyzing and responding to the broader market, the Retail Innovation Conference & Expo , taking place June 13-15 in Chicago, is hosting a panel of investors to share their perspectives with an audience of brand operators and executives.
The Editors’ Perspectives column offers insights and opinions from the Retail TouchPoints editorial team as they dig into the latest trends in retail, marketing and tech. Stay tuned next week for our coverage of the Jordan Brand’s District 23 activation at the former iconic Tati Barbès departmentstore.
He will be reporting to Jodie Koning, Cartology head of Marketing and Insights. International Group of DepartmentStores appoints new president. The International Group of DepartmentStores (IGDS) has appointed André Maeder as the new IGDS President for 2021-2023.
Following its launch in Australia in 2016, Danish retail group Bestseller has firmly entrenched its presence in the retailmarket, with the company making strides in its sustainability and circularity initiatives. It works with more than 500 supply partners, with its products manufactured across over 800 factories.
Many retailers are finding that their investments in UCC technology have given them a standard set of functionality in common with their competition. Carothers has over 25 years of experience in sales, marketing, product management and business development, driving success with large-scale enterprise, operator, and channel partner customers.
According to the International Trade Administration, South Korea’s beauty market was worth US$3.9 billion in 2022, making the country one of the top 10 beauty markets in the world. When asked if Sephora could ever have a successful comeback in the South Korean market, the beauty expert expressed her disbelief. “I million), 14.5
While the everyday consumer has become pri c e-sensitive with the growing costs of living in the US, the 1 per cent is still spending – to a point where the luxury shopping market has become more competitive than ever. The market is expected to grow at a compound annual growth rate of 3.22 billion in 2024. billion in 2024.
The place to be and be seen In Australia (and elsewhere), the CBD was at the epicentre of the evolution of discrete retail spaces. It offered a smorgasbord of independently owned shops, national and international chain stores and departmentstores. In short, the CBD was the place to see and be seen.
Tapping into this much-underserved market has led to steady growth for Both& since it officially launched in 2020. An untapped apparel market Consumer demand for gender-neutral clothing or unisex fashion styles has been growing in recent years. per cent from 2022 to 2030 to reach an impressive $3.2
But unlike the Marimekko Pop-Up Cafe, which is a distinct spinoff concept from the mothership, the Marimekko Concept Store at Siam Discovery stretches the definition of a concept store to its limits. Let’s keep the marketers honest, or at least as honest as possible.
A good example is the significant growth we’re seeing in the rental market in fashion. There’s a huge market in secondhand goods that’s not currently being leveraged, there’s a huge market in repairs that’s not currently being leveraged.
Vincom is easily the largest mall developer and operator in Vietnam, and wants to focus less on new development this year and more on a trifecta of objectives aimed at its existing mall fleet: driving rental growth, upgrading its market positioning, and strengthening the shaky operating metrics of elements of its far-flung portfolio.
by Informa Markets Fashion. MAGIC , the leading industry connector for the trend and young contemporary markets, organized by Informa Markets Fashion, recently announced its 2022 event calendar, which includes the debut of a new event – MAGIC Nashville, aimed to expand the retailmarket and fill gaps between primary buying seasons.
The push comes as clothing retailers, whose sales dipped as inflation-weary consumers prioritised essentials over discretionary purchases, amp up their marketing of “cooling” garments as heat waves batter at least three continents.
The brand plans to open additional stores across the US, including locations in Florida, Texas, and Georgia. The potential Regent Street store would add to the brand’s increasing presence in the global retailmarket.
We have assembled all the numbers you need, including store operations, shopper behaviors, how retailersmarket their businesses, and much more. If you own a retailstore or are considering shop ideas for a new one, take a look at the stats below. Retail Statistics: The Big Picture. Physical Stores.
Debenhams With a light-hearted take on the typical festive frenzy, Debenhams’ Christmas ad depicts the departmentstore as the ultimate destination to ease seasonal shopping stress. Lidl Lidl’s Christmas campaign is centered around the joy of sharing, as it marks the return of its toy bank scheme.
A balanced perspective According to Ananda “Andy” Chakravarty, vice president of research for retail at IDC, the collaboration with Google Cloud will enable John Lewis to access the AI and ML capabilities built into the solution, including generative AI capabilities. growth in this space will be inevitable,” Chakravarty noted.
Just to recap, Walmart first entered the Indian market in 2007 with the wholesale ‘cash and carry’ business, Bharti Retail. Recent reports suggest that Walmart is beating Amazon in India’s fast-growing online retailmarket, which is expected to be worth $200 billion by 2026.
John Lewis The 10 second teaser for the highly-anticipated John Lewis Christmas ad shows a young boy finding a box labelled “grow your own perfect Christmas tree” at a vintage market. The departmentstore is set to unveil its full advert this Thursday (9 November).
Costco (like other ‘treasure hunt’ retailers such as TJX, Aldi and Trader Joe’s) are a marketer’s graveyard because their business models don’t allow them the luxury of a big marketing budget to promote products or cover up deficiencies. Indeed, their business models repose partly on not marketing at all.
Plans to restore “Bobby’s” departmentstore to former glory after Debenhams departure. On the first floor the large windows overlooking the Square will be opened up, new balconies installed, and the floor will house a food and market hall. Original 1933 front entrance designs reinstated. .
The letter stated: “For too long, the current board has failed to disclose to the market and to shareholders what is really happening at Boohoo.” In the case of House of Fraser , Ashley famously acquired the beloved departmentstore chain with the aim of consolidating the retailmarket and later selling off its assets in 2018.
In the retail business, whether it’s a physical store or an online retail outlet, the product is what draws customers in and keeps them coming back. Understanding Your Target Market and Their Needs You need to know who you’re selling your product to.
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