What’s been happening in retail this week? · TALA entered its first physical retail partnership with Selfridges from 10 May across all four Selfridges locations. · JD Sports Fashion opened its first store in the Middle East at Bahrain’s Marassi Galleria Mall in collaboration with global retail partner GMG, spanning 5,422 sq ft. · Morrisons acquired 38 convenience stores from SandpiperCI on the Channel Islands, including shops already branded as Morrisons Daily. The stores, which reported a turnover of £124.5m last year, were part of a franchise agreement since 2018. The deal's terms were not disclosed, but approximately 520 SandpiperCI employees will transfer to Morrisons. · Asda launched LS Eleven Media Services in collaboration with SMG, utilising first-party customer data from Asda Rewards for enhanced retail media campaigns. · Frasers Group announced a partnership with developer AND Digital, innovation specialist Valtech and agency Lab Digital to overhaul its digital infrastructure across brands, enhance operational efficiencies and online experiences. The platform will feature hyper-personalisation and improved product discoverability. · Currys plc is partnering with Accenture and Microsoft to deliver its core cloud infrastructure and leverage the latest AI technologies. It aims to enhance operations, elevate the shopping experience and improve experiences for colleagues. · Amazon announced plans to build a £500m robotic warehouse in Northampton, projected to be fully operational by 2026. The facility, featuring three floors of robotics technology for stowing and picking customer orders, will initially create 1,400 jobs, ranging from engineers to HR, finance and IT staff. · Zalando confirmed its full-year guidance for 2024, expecting revenue and gross merchandise volume to rise between 0% and 5% YoY, with adjusted EBIT projected between €380m (£326m) and €450m (£386m). The retailer reported a first quarter adjusted EBIT of €28.3m (£24.3m) and a 1.3% increase in gross merchandise volume to €3.3bn (£2.8bn). Revenue reached €2.2bn (£1.9bn), down from €2.3bn (£2.0bn) in the previous year. · boohoo reported group sales declined 17% YoY to £1.4bn in the year to 29 February, driven by “difficult market conditions”. The fashion retailer's pre-tax losses widened to £159.9m in the period from £90.7m last year, with gross profit falling 16% to £756m. UK sales declined by 16% to £921m, impacted by the macroeconomic environment, price investments, and changes in the sales mix due to the expansion of the Debenhams marketplace. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM
Retail Economics’ Post
More Relevant Posts
-
📻 Our CEO Richard Lim was on the Today Programme on Radio 4 discussing Carpetright being on the verge of administration and the launch of our 'Retail Resilience Report' we published in partnership with Barclays. 👂 You can listen here is you missed it: https://lnkd.in/eytd9ZNC Download our Retail Resilience Report here: https://lnkd.in/e87w3mHM
-
-
💪 How resilient is your business model? 💪 The top 3 perceived risks by UK retailers in the next 12 months are: 1. Cyber and data threats - currently viewed as the biggest risk by over a third (34%) of UK retailers surveyed, with 70% saying they form part of their top three risks over the next 12 months. 2. Regulatory related risks - viewed as the second largest perceived challenge (52%) which includes additional friction around international trade and more uncertainty around future environmental policy. 3. Financial (51%) concerns - cited by 51% of UK retailers, reflecting higher interest rates that have impacted financing costs, not just for retailers, but throughout supply chains, as well as impacting businesses in financing production. Our latest report published in partnership with Barclays explores retail resilience and how UK retailers perceive risk, rank their importance, preparedness relative to their competition, and much more. Download your free 'Retail Resilience Report' here: https://lnkd.in/e87w3mHM #resilience #business_models #risks #barclays #retaileconomics
-
Head over to your favourite podcast platform or click the link below to listen to this week's episode of the Retail Roundup Podcast! With fresh episodes every Monday at 6am, the Retail Roundup Podcast is your go-to source for staying informed on the latest happenings in the retail world. Whether you're a seasoned professional or new to the industry, our podcast delivers essential insights and the most current retail news to keep you ahead of the curve. 🔗 Tune in now: https://lnkd.in/e8Urgs3g #RetailRoundup #RetailPodcast #IndustryInsights #StayInformed #MondayMotivation #RetailInsight #Podcast #BusinessPodcast #InsightOnTheGo #RetailEconomics #RetailUpdates
-
-
Social commerce is exploding within retail 💥 📈 The UK Social Commerce market is expected to hit almost £16 billion by 2028! 🔎 Our research reveals the five drivers of social growth are: ⬆️ Technological drivers ⬆️ Social Shopping Evolution ⬆️ Information Consumption ⬆️ Unified shopping applications ⬆️ Psychological Dynamics 📱 about 90% of adults (48 million people) are active users of at least one social or entertainment platform, spending over two hours per day on average on these channels. 🧑🏻🤝🧑🏿 Gen Z are the highest users, spending 2 hours 42 minutes per day 🛒 82% of platform users on average engage in shopping-related activities like browsing products, following brands, and watching live shopping events Our latest report on social shopping conducted in partnership with TikTok looks at the power of social commerce and how it is leading the way. ✔️ Download your FREE report now: https://lnkd.in/e6i55XpS hashtag #SocialCommerce hashtag #TikTok hashtag #Shoppertainment hashtag #RetailTrends
-
What’s been happening in retail this week? · Frasers Group raised its stake in HUGO BOSS to about £415m (€490m), with 7.9% of the share capital and 13.8% via put options. This follows an increase in May, bringing Frasers' total investment to £305m. Hugo Boss's share price has fallen over 40% this year. · adidas is on track to achieve its highest profit margin in three years, fuelled by the popularity of its Samba and Gazelle shoes. Analysts are forecasting a 51.4% profit margin and a 4.5% sales increase for Q2. · Asda ended its four-day work week trial after staff reported exhaustion from 11-hour shifts, childcare, and transport issues. The trial affected managers at 20 stores. Asda will keep testing flexible working patterns to find a suitable solution. · Holland & Barrett will launch store-in-store concessions with Next this summer to expand its customer base. The new format will offer health and wellness products from top brands and services. This initiative is part of Holland & Barrett’s £70m transformation strategy, which includes over 200 store openings and refits in the UK. · John Lewis & Partners new boss, Peter Ruis, plans to increase shop floor staff in a "Selfridges-style" approach by renegotiating lower commission rates with fashion brands. Ruis believes boosting staff levels will enhance customer service and drive double-digit sales growth. · Superdrug reported a 43% increase in pre-tax profits to £111.6m and an 11.8% rise in revenues to over £1.5bn for 2023. Its UK beauty market share grew, driven by strong sales, new store openings, and modernising existing stores. CEO Peter Macnab emphasised the focus on affordability and investment in store experiences. · TikTok launched the ‘£1Million Club’ to help new merchants reach £1m in revenue, offering up to 90 days of commission-free sales, free fulfilment, and storage. TikTok will provide onboarding, training, and marketing support. This follows the success of Made By Mitchell, which hit $1m in one day on TikTok Shop. · Dyson plans to cut nearly one-third of its UK workforce to prepare for future competition. Despite moving its HQ to Singapore, Dyson stated the UK remains crucial for R&D. Dyson employs 3,500 in the UK. · AO invested over £2m in its delivery fleet to reduce carbon emissions, transitioning from diesel to compressed natural gas (CNG). The retailer aims for 90% of its fleet to run on CNG by 2030, initially purchasing 10 CNG tractor units in 2022 and adding 10 more. This switch could cut CO2 emissions by up to 85%. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM
-
-
📦 Unlock the Future of Delivery! 🚀 Did you know that over half of UK consumers have used delivery lockers? Dive into our latest thought leadership report, created in partnership with InPost, and discover why delivery lockers are revolutionising the final mile of retail! 🔑 Key Insights: ~ 53% of UK consumers have used a delivery locker at least once. ~ 71% of Gen Z and 68% of Millennials prefer delivery lockers. ~ Delivery lockers offer a convenient, cost-effective, and eco-friendly solution for modern retail. 🔍 Learn more about how delivery lockers can enhance your retail strategy and meet the evolving demands of consumers. 📅 Download your copy of "Delivery Lockers: Unlocking the Final Mile" now! 🔗 Click here to download: https://lnkd.in/eKurxtMX #DeliveryLockers #Ecommerce #RetailTrends #CustomerExperience #InPost
-
🛒 Cost vs. Choice: What's More Important for Online Delivery? As the digital landscape evolves, so do consumer preferences for delivery options. Our latest research, in partnership with GFS (Global Freight Solutions Ltd), reveals intriguing insights into what drives consumer choices 💡 👥 Key Findings: - Younger consumers value Choice (63.5%) more than Cost (36.5%) - Middle-aged shoppers show a balanced split between Cost and Choice - Older consumers prioritise Cost over Choice (57.1%) 📊 What does this mean for your business? Understanding these trends can help retailers optimise their delivery strategies to reduce cart abandonment and enhance customer satisfaction. 🚀 Discover More: - Consumer delivery expectations - Delivery priorities by shopper mission and affluence - Strategies to reduce cart abandonment Stay ahead of the curve and align your delivery options with consumer expectations today! 🌟 🔗 Download your report for deeper insights: https://lnkd.in/eHZE93Nn #ConsumerInsights #DeliveryTrends #Ecommerce
-
Join our CEO, Richard Lim, and Infobip's Kim Johal for an exclusive, live fireside chat here on LinkedIn in two days! During this fireside chat, Richard and Kim will discuss key findings from our recent collaboration: The Retail Economics Report 2024. 📅 Date: 11th July 2024 🕑 Time: 2 - 2:30pm BST For more details, head over to the post below... Don't miss this opportunity to learn from industry leaders and enhance your retail strategy! #Retail #Fireside #RetailTrends #RetailForecasts #Event #Insight #RetailInsight #Partnership #LinkedIn https://lnkd.in/erA6UzDP
Save the date and join us live for an exclusive fireside chat on LinkedIn with industry expert Richard Lim and our very own, Kim Johal! 📅 11 July 2024 🕒 2:00-2:30 PM BST Richard Lim will unveil the key findings from the Retail Economics Report 2024, providing critical insights into the latest trends and forecasts in the retail sector. 🔍 What you'll learn: -Key findings from the Retail Economics Report 2024 -Practical steps for brands to implement these insights -How Infobip's technology can empower your brand to thrive Don't miss out on this opportunity to gain valuable knowledge and practical solutions for your brand. Set your reminder now and get ready to transform your retail strategy! #OneCommunicationsPlatform #RetailEconomics2024 #RetailTrends
Fireside chat: Navigating customer pain points and rising expectations
www.linkedin.com
-
Head over to your favourite podcast platform or click the link below to listen to this week's episode of the Retail Roundup Podcast! With fresh episodes every Monday at 6am, the Retail Roundup Podcast is your go-to source for staying informed on the latest happenings in the retail world. Whether you're a seasoned professional or new to the industry, our podcast delivers essential insights and the most current retail news to keep you ahead of the curve. 🔗 Tune in now: https://lnkd.in/e8Urgs3g #RetailRoundup #RetailPodcast #IndustryInsights #StayInformed #MondayMotivation #RetailInsight #Podcast #BusinessPodcast #InsightOnTheGo #RetailEconomics #RetailUpdates
-
-
Ready to see the future of Retail? 🌟 Dive into the future of retail with our new report! 📊 See how TikTok (TikTok for Business Europe) is leading the way in social commerce 🎉 📈 The UK Social Commerce market is expected to hit almost £16 billion by 2028! 🌍 This means it will account for around 11% of the total online market, up from 6% today and growing four times faster than overall e-commerce sales 🔥 💡 For perspective, the anticipated market size by 2028 is comparable to the GDP of Jamaica 🌴 or equivalent to the entire Furniture & Flooring market in the UK 🛋️ 🛍️ Brands are encouraged to harness engaging content and authentic interactions to thrive in this evolving landscape. 🔗 Download the report now: https://lnkd.in/e6i55XpS #SocialCommerce #TikTok #Shoppertainment #RetailTrends
-
