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2020 has been an exceptional year for the retail sector, with all businesses having to rapidly adapt in some way or another. Such a time of upheaval has led to a permanent, irreversible change in consumer behavior as shoppers embrace the convenience and security of ecommerce more readily. There is much for retail organizations to do to make themselves resilient to the incoming challenges, but enhancing omnichannel capabilities and building powerful ecommerce experiences will be crucial.
Growing brands have to make tough decisions about what business functions they will keep in-house and which ones they can outsource. The question of outsourcing logistics often comes up fairly early in a brand’s lifecycle, and how it’s answered can have a large impact on the brand’s ability to scale. We’ve already talked about why a growing brand might choose a third-party logistics provider.
My final post of 2020 avoids the predictable review of the retail sector over the past year or the trap of forecasting what might happen in retail during 2021. Instead, I am returning to a subject increasingly mentioned in debates and discussions about the future commercial relationship between retail landlords and their tenants, which is turnover-based rents.
I recently wrote a post published in Fibre2Fashion with the following title “2021: Fashion Retail Diagnosis and Action Plan“ This is a brief overview of it: 2020 is probably the worst year ever for many people: Covid-19, social movements, terrorism, populism, hurricanes, wildfires… You may have lost a close friend or a family member, have … More 2021: Fashion Industry Diagnosis and Action Plan.
Category Management is a cornerstone of a successful retail strategy. While it promotes collaboration between manufacturers and retailers to optimize category performance, challenges persist in its effective implementation due to hurdles in communication and collaboration across teams and partners, and more. In this guide, we outline five essential strategies for success in 2025 that will touch on all the essential pieces of a successful strategy and implementation.
The corporate world has been forever changed by the coronavirus pandemic, leaving many to wonder what comes next. Retailers were physically shuttered during the stay-at-home period, but restrictions and requirements — on the number of people who can enter an outlet simultaneously and the face coverings they must wear — remain in place. It’s a difficult scenario that has led to one-way signs that redirect foot traffic in larger stores, as the retail world strives to help minimize contact between
It’s difficult to believe that just shy of a year ago we and 37,000 of our colleagues in the global retail industry crowded into the Jacob Javits Center in New York City for the annual Coachella of retail, known as the National Retail Federation’s “Big Show”. Amid the relative optimism of a new year ahead, little did any of us know that thousands of miles away, in a city most couldn’t point to on a map, a microscopic entity was about to turn our entire world inside out – and the retail industry
Shoppers heavily rely on promotions. We see a heavy reliance on promotions and shoppers certainly notice it! 30% of shoppers claim to buy on promotions in the Oral Care, Personal Care and Toiletries department. The store average (across 165 FMCG categories) is only 23%. Despite this promotional awareness, it doesn’t necessarily follow that the promotion will help bring shoppers to store, effectively driving traffic. 16% of shoppers in this department agree that ‘promotion will encourage me to go
Shoppers heavily rely on promotions. We see a heavy reliance on promotions and shoppers certainly notice it! 30% of shoppers claim to buy on promotions in the Oral Care, Personal Care and Toiletries department. The store average (across 165 FMCG categories) is only 23%. Despite this promotional awareness, it doesn’t necessarily follow that the promotion will help bring shoppers to store, effectively driving traffic. 16% of shoppers in this department agree that ‘promotion will encourage me to go
By Rob van den Heuvel, CEO at Sendcloud. If there’s one thing 2020 has taught us, it is the art of adaptability. As we knock on the door of 2021, the next stage of transition is upon us.
While foot traffic in many stores has slowed down due to the COVID-19 pandemic, things will be picking up. This is good news for retailers — but it may not be as good for their floors. Floors are among the dirtiest parts of any building, and it’s not always easy to keep them clean. Customers walk in and out of stores all day long, bringing dirt and germs along with them on the bottom of their shoes.
It is not secret that today’s retail environment has radically changed into a highly competitive and dynamic market. And if this was a challenge for retailers in pre-pandemic times, it has only been intensified in the current climate of COVID-19, as personal and financial strains coupled with economic uncertainties have given a greater emphasis to prices in regards to retail shoppers.
There are moments when you glance up and notice a red-faced customer marching towards you with a look in their eye and know that everything in the moment in which you’re about to be engaged is going to be challenging. You take a deep breath, you bring your company’s core values into your line of vision, and before the words from the seemingly hostile customer are elicited, there you stand with a big bright smile, and say, “Hello, and how can I help you today.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
November’s retail sales estimates, released by the Office for National Statistics (ONS), reveal the High Street’s loss was online’s gain. Online sales spiked by 74.7% in value as early-bird Christmas shoppers hit the internet in record numbers.
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