Retail Economics

What’s been happening in retail this week? ·      John Lewis & Partners will reintroduce its iconic ‘Never Knowingly Undersold’ price pledge, applying it to online rivals as well. Relaunching on 19 September, the AI-powered pledge will compare prices at 25 major retailers, offering money back if customers find cheaper prices within seven days. ·      Marks and Spencer is launching a new homewares collection with British designer Kelly Hoppen CBE on 12 September. The 75-piece range includes elegant bedding, lighting, and ceramics, showcasing Hoppen’s signature clean lines and neutral tones. ·      Tesco’s F&F clothing brand debuted its first homeware range, F&F Home. The collection features over 1,000 items, including soft furnishings, bedding, and glassware, with prices starting from 50p. ·      ASOS.com sold a 75% stake in Topshop and Topman to Heartland, part of Danish retailer Bestseller, in a £135m deal. Asos retains 25% and will relaunch Topshop.com within six months, while the partnership supports Asos’ strategy for profitable growth and global expansion opportunities. ·      Gymshark is opening its first permanent store outside the UK in Dubai Mall, one of the world’s most visited shopping destinations. The store, set to open by year-end, follows successful localised ecommerce services in the Middle East, supporting Gymshark's global expansion plans. ·      Primark is launching its first pre-loved Swap Shop pop-up in collaboration with Verte, allowing customers to swap vintage and pre-loved clothes in select stores. Customers can exchange items for digital tokens, supporting circular fashion through events in London, Manchester, and Birmingham. ·      Morrisons is trialling scan-and-go technology in six stores, similar to Tesco’s Scan as you Shop and Sainsbury’s Smartshop. This move follows efforts by CEO Rami Baitiéh to modernise the retailer, alongside initiatives like trolley advertising and expanding the More Card loyalty scheme. ·      Clarks drafted in former CEO Victor Herrero to a "steering committee" to assist with day-to-day operations following another wave of senior management departures. The retailer continues searching for a new CEO. ·      Harrods reported record turnover, with revenues rising 8% to £898.4m in the year to 3 February, driven by post-pandemic tourist spending. Operating profit grew to £162.9m, but pre-tax profit fell due to pension fund liabilities. The retailer warned of challenging conditions in the luxury sector amid global economic uncertainty. ·      Currys plc reported a 2% like-for-like sales increase for the 17 weeks to 24 August, with UK and Ireland sales up 5%. Strong demand for AI computing products and England’s Euros success contributed to growth. Currys remains confident in profit and free cash flow expectations for the year. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

⁉ 5 Interesting Facts About Tesco ⁉ 🔍 Did you know?   🏥  Tesco have 365 pharmacies serving half a million people a week in stores across the UK. ✈️ Jack Cohen, Tesco founder, brought self-service shopping to Britain, in 1946, inspired by his travels in America. 🏢 Beyond retail, Tesco is one of the UK's largest landowners, with over 40 million square feet of retail space. 🛒 The term ‘Superstore’ was first used when Tesco opened their store in Crawley, West Sussex in 1968. It was 40,000 sq. ft. 👥 With around 330,000 employees, Tesco remains one of the largest private sector employers in the UK, demonstrating its significant impact on the industry. #TescoFacts #RetailHistory #RetailInnovation #Superstore #UKRetail

🚨 The Hidden Threat: Cyber Attacks in Retail 🚨 Carpetright's recent struggles have underscored a growing concern that retailers across the UK can no longer afford to ignore: cybersecurity and data risks. The decline of such a well-known brand due to a cyber-attack is a wake-up call for the entire industry. Our latest research in partnership with Barclays Corporate Banking reveals that: 💠 70% of UK retailers now rank cyber risks within their top three concerns. 💠 With 34% citing it as their highest risk, it’s clear that the threat landscape is more significant than ever before. At Carpetright, the repercussions of a cyber breach were devastating, affecting not just their operations but eroding customer trust and brand value. This is a stark reminder that no retailer is immune, and proactive steps must be taken to mitigate these risks. Our Retail Resilience Report dives deep into the challenges retailers face today, highlighting that cybersecurity is not just an IT issue—it's a critical business risk that can make or break a company. Are you prepared to tackle these risks head-on? Discover more insights from our latest report and see how your business measures up against the competition when it comes to cybersecurity. #CyberSecurity #RetailRisk #DataProtection #Carpetright #RetailEconomics #Barclays

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 6 am, 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

🗞 What’s been happening in retail this week? 🗞 🏬 Sainsbury's is acquiring 10 Homebase stores in a £130m deal, adding 235,000 sq ft to its supermarket space and bringing nearly 400,000 more people within a 10-minute drive of its stores. The conversion will create 1,000 jobs and feature Sainsbury’s latest food and sustainability innovations by late 2025. 📉 QUIZ Clothing reported a 10.6% drop in revenue to £82m and a pre-tax loss of £6.7m for the year ending March 2024. The retailer attributed the losses to inflationary pressures and is now focusing on a turnaround strategy under new CEO Sheraz Ramzan. 👟 schuh is enhancing disability inclusion by allowing shoppers with disabilities or limb differences to buy single shoes at a 50% discount across all stores, online, or by phone. ♻️ IKEA is trialling a resale website, Ikea Preowned, in Madrid and Oslo, allowing customers to buy and sell second-hand furniture. The platform will go global by December, supporting Ikea’s sustainability goals. 👗 Marks and Spencer & Spencer is set to trial a clothing-only store at Battersea Power Station, targeting Gen Z shoppers after a rise in sales from this demographic. Opening this autumn, the boutique-style store will feature curated fashion, beauty products, and personalised styling advice. 🎄 John Lewis & Partners launched its online Christmas shop, anticipating high demand for festive decorations. Searches for tree decorations and baubles are up 30% year-on-year, with trends like supersized wreaths and oversized bows set to be popular. Jellycat is joining the Christmas shop for the first time. 🕒 Morrisons is also reducing night shifts in favour of twilight and early shifts as part of CEO Rami Baitiéh’s transformation plan. The move, already implemented in 100 stores, aims to boost productivity and customer satisfaction. 📺 The Very Group launched its first fashion advert in seven years with an autumn campaign on 29 August. The campaign, through its Haus of Flamingo platform, showcases key trends and aims to capture demand for autumn wear, as customer interest in coats, knitwear, and boots rises. 🌏 Frasers Group acquired a 14.7% stake in the Australia and New Zealand-based Accent Group Limited. This investment supports Frasers’ ambitions to become a global sports retail leader, expanding its presence in key markets with brands like Skechers, UGG, and Vans. 💷 Ocado Retail launched its sixth Big Price Drop, cutting prices on 450 products, including Heinz Baked Beans and Nescafe Gold, by an average of 17%. This initiative, alongside the Tesco Price Promise, aims to offer more value to customers. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

🔍 Consumer Trust is Fragile: Key Factors to Watch 🛒 Building and maintaining consumer trust is critical in today's digital marketplace. Our research with Infobip highlight the key factors that could potentially damage this trust, leading to lost loyalty and revenue. 📉 Top Concerns: - Online Security: Data breaches and the selling of customer data are top concerns, particularly among socially conscious shoppers. - Difficulty in Contacting Retailers: Busy shoppers are quick to lose trust if they can't easily reach out when issues arise. - Slow Response Times: Swift resolution of complaints is essential, with delayed responses leading to frustration, especially among time-pressed customers. - Poor Communication: Clear and effective communication is vital, particularly when something goes wrong, with 75.3% of shoppers rating this as crucial. 🔄 Communication is Key: Understanding your customers’ preferred communication channels and ensuring timely, secure interactions can be the difference between retaining a loyal customer or losing one forever. Read more on how to best address these challenges and build stronger, more trusted relationships with our customers ➡️ https://lnkd.in/e3wN_FBY #DataSecurity #OnlineSecurity #RetailChallenges #CustomerService #Omnichannel #CustomerSupport #RetailTrends #Infobip

📉 Discover the Leading UK Retail Export to the EU 🌍 The landscape of UK retail exports to the EU has seen significant shifts over the past decade, particularly in the wake of Brexit and the pandemic. Our report with Tradebyte highlights these trends across key non-food categories: 💠 Health & Beauty remains a stronghold, leading UK exports to the EU in 2023. 💠 Clothing & Footwear, once a top performer, has faced substantial declines, reflecting the challenges posed by increased trade friction and regulatory complexities. 💠 DIY & Gardening and Homewares have shown resilience, adapting to the new trade dynamics and maintaining their presence in the EU market. Despite these challenges, opportunities remain for UK brands to innovate and adapt through strategic engagement with digital marketplaces. 🚀 Explore our full report on how UK brands are overcoming these challenges and what lies ahead for retail exports in a post-Brexit world. Click here: https://lnkd.in/exNcZkyW #UKExports #EUMarket #RetailTrends #PostBrexit #TradeInsights #HealthAndBeauty #DIYandGardening #GlobalTrade #Tradebyte

We've been working with the innovative HyperJar, analysing 8 million transactions to review the spending behaviour of today’s 6 to 17 year olds – the consumers of tomorrow. Feedback from over 1,800 parents about what their kids do with their money compared to their childhood experiences reveals clear generation divides. Four in 10 parents agree that their child spends more on appearances than they did. This belief is particularly pronounced among parents of older children and the most affluent, reflecting the strong influence of social media and peer pressure. Prioritising appearances has seen a beauty boom among children’s spending, with Boots UK and Superdrug rising up the rankings among the top 20 brands kids are transacting with. SHEIN and Vinted have also jumped up the ranking. On top of this, over a third say their child spends more impulsively than they did. But less than one in 10 parents believe their child chooses more sustainable, eco-friendly products. Swipe through the carousel below to see differences by age. Click the link in the comments to download the full report. Tricia Beaumont Nicholas Found Sandra Hadaie Dan Jones Richard Lim Nicola Longfield Joe Moore Ilias Tsatalmpasidis MBA MCIM

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 6 am, 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

What’s been happening in retail this week?   ·      Waitrose & Partners is investing over £1bn in its store portfolio over the next three years, with plans to open 100 new convenience stores and refurbish 150 existing locations. The investment will focus on enhancing service counters, expanding wine and alcohol selections, and increasing on-demand grocery options.   ·      Pets at Home unveiled its latest "store of the future" concept in Brentford, marking a £1m investment to expand and modernise the location. The new store features enhanced services, including a Nutrition Hub and interactive screens.   ·      Morrisons is scaling back self-service checkouts. Around 20 stores will see self-checkout terminals reduced in favour of manned tills.   ·      Holland & Barrett partnered with DNANUDGE to launch the world’s first express DNA test service in five UK stores, offering customers quick genetic insights for skincare and sleep improvement to receive personalised product recommendations tailored to their DNA.   ·      SportsShoes.com launched its first mobile shopping app as part of its digital growth strategy. The app offers personalised product suggestions and enhances the customer experience.   ·      Topps Tiles acquired the brand and selected assets of CTD Tiles out of administration for £9m, including 30 stores, selected stock, and intellectual property, saving 92 jobs. The acquisition strengthens Topps Tiles' position in the housebuilder market, with the acquired stores generating £20m in sales in the year to June.   ·      Hobbycraft is in advanced talks with investor Modella Capital over a potential sale. Modella, known for backing brands such as Paperchase and Ted Baker’s UK licensing partner, is negotiating with current owner Bridgepoint.   ·      Tesco appointed Becky Brock, former Costa Coffee global commercial, marketing, and innovation director, as its new customer and digital director. Brock will focus on loyalty, digital, and insight as the supermarket transitions to a more digitally enabled operating model.   ·      ASOS.com shareholders approved a new executive pay plan, replacing the long-term incentive scheme with a Value Creation Plan. It aims to reward senior leaders only if the share price exceeds £6.70.   ·      JD Sports Fashion reported a 2.4% increase in group like-for-like sales and an 8.3% rise in organic sales for the quarter ending 3 August. Growth was driven by strong US and European performances, while UK sales softened, declining by 0.8%. The retailer completed the acquisition of US brand Hibbett, adding significant scale to its operations.   This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM