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Across the UK, October retail footfall dipped slightly compared with September, according to the latest data from MRI Software https://lnkd.in/eyuC_dBV #retail #retailnews #retailfootfall #footfall #consumerinsights #consumerspending #shopping #highstreets #retailparks #shoppingcentres

Across the UK, October retail footfall dipped slightly compared with September, according to the latest data from MRI Software https://lnkd.in/eyuC_dBV #retail #retailnews #retailfootfall #footfall #consumerinsights #consumerspending #shopping #highstreets #retailparks #shoppingcentres

Good year for furniture retailers. Or is it? Retail has seen its fair share of ups and downs, but homeware has consistently defied the odds. According to BDO's latest High Street Sales Tracker, total LFL retail sales dropped significantly by -5.33% last week, marking a low point since April 2024. Even non-store sales hit their weakest numbers since October 2023. Yet, amidst this bleak scenario, homewares emerged as the gleaming exception. Total homewares LFL sales grew by +1.54%, making it the 20th positive week for the category in 2024. The in-store sales rose by +2.00%, which marks the 22nd positive week too. Cocooning due to chilly weather is speculated to be behind this surge. While overall in-store retail dipped, homeware's resilience stands out starkly. Footfall was also on the rise this year. Overall footfall grew by +1.8% year-on-year, primarily due to an uptick in retail parks (+4.5%). High street footfall also saw a slight increase of +1.6%, while shopping centres experienced a minor decline of -0.3%. With homeware recording positive sales outcomes imagine how much more could be achieved with a little AI magic. With Furnish’d, retailers can tap into this growing trend effortlessly. Our AI sales assisting app offers bespoke furniture packages based on customer preferences, reducing decision-making time and increasing customer satisfaction both in-store and online. Give us a shout to receive the latest updates and be among the first to reach new heights. #retail #ecommerce #furniture #furnitureretail #homeware #ai #retailsales Source: Furniture News.

Dunelm Q3 sales up 👏 The British home furnishings retailer has reported a 3% increase in year-on-year sales taking their Q3 total to £435m. The company revealed that although trading conditions continue to be volatile, volume-driven sales performance has been underpinned by strong growth across store and digital channels. Digital sales were also up for the quarter, reflecting the ongoing improvements to the online customer proposition. Nick Wilkinson, CEO of Dunelm, commented: "We have delivered a resilient performance in Q3, with continued volume-based sales growth through a period of more challenging and volatile market conditions. Whilst discretionary spend remains under pressure, our relevant and attractive product offer continues to resonate with customers as they shop across our broad ranges to find quality and value for all areas of the home. This performance reflects our deep-rooted understanding of our customers and the effectiveness of a total retail system which continues to drive growth across store and digital channels, bringing further three market share gains. At the same time, our operational grip continues to mitigate ongoing cost headwinds and has supported a strong gross margin performance." #News #DIY #Housewares #Finance #Performance #Dunelm #

🔍 Did you know? Even with fewer shoppers, some stores are converting more visits into sales! Learn how a strong online presence can save your business! https://lnkd.in/gu6pAXh3 #YourSourceNews #YSN #ItsAboutTheMembers #IndependentRetailers #FurnitureToday #Top100HomeFurnishingsRetailers #Retailers Furniture Today

Retailers always seek to expand to locations that offer the highest sales potential, have reasonable occupancy costs to maximize profits, and offer the least canibalization to their other stores. It all starts with gathering and analyzing data, which retailers have been doing for many decades to project sales for a proposed location. What has allowed retailers to better understand the potential impact of new locations in the past 10 years is the widely available location-based data from many sources that have become very common for retailers and landlords to use in the leasing process.

According to the National Retail Federation, May showed significant growth in retail sales! 📈 Sales rose by 1.35% compared to the previous month and were up by 3.03% compared to last year. However, "home" related categories saw a decline due to high interest rates and a challenging housing market. Home improvement, furniture, home furnishings, and big-ticket appliances were among the impacted sectors. It seems that retailers will be implementing various pricing strategies and promotions to boost sales. For further insights, check out Marianne Wilson's article in Chain Store Age. #Retail #SalesGrowth #MarketTrends #RetailIndustry 🛍️🏡

Why Do Malls Offer Discounts? The Simple Math Behind Sales We all love a good sale, but have you ever wondered why malls offer them? Behind every sale sign is a smart plan powered by math. Here’s a simple breakdown of why malls use discounts: 1. Clearing Out Old Stock Malls need space for new products. To make room, they offer discounts on old or seasonal items. This helps them sell things faster. The math term for this is inventory turnover, which shows how often stores sell and replace their stock. More sales mean more space for new items. 2. Boosting Demand Lowering prices can make people want to buy more. This is because of something called price elasticity of demand. If the price drops by 20% and shoppers buy 50% more, then it’s a win for the store! The increase in items sold can more than make up for the lower price. 3. Creating a Bargain Feel Stores use big price tags to make discounts look huge. For example, if a $100 jacket is on sale for $70, you save 30%. This makes you feel like you’re getting a great deal, even if the store still profits. This trick is called the anchoring effect. 4. Making More Money Overall Even if each item is sold at a lower price, the total money earned can go up if more items are sold. If a store usually sells 100 books at $30 each but sells 300 books at $20 during a sale, the total earnings are higher because more books are sold. 5. Getting Loyal Shoppers Sales bring in new shoppers and keep old ones coming back. The math behind this idea is simple: if a customer spends more money over their lifetime than it costs to attract them (through advertising and discounts), the store wins. This is called lifetime value. #ShoppingSales #MallDiscounts #SmartShopping #SalesStrategy #RetailMath #ClearanceSale #CustomerDeals #PriceDrop #RetailTips #ShopSmart

Dunelm finding sites for new stores amid rising sales and easing freight costs 🚛 Dunelm is browsing sites for new stores after rising sales showed shoppers were responding well to its smaller format stores. In the latest quarter, Dunelm opened a new store in Brighton and relocated its Edinburgh store 'to a better site', taking its total store openings to six for the full year. The group's shares rose sharply on Thursday after unveiling higher sales in recent months. The London-listed homeware retailer expects its annual profit to slightly exceed market forecasts, it said in a statement posting its latest quarterly and annual results today. The group, which sells items ranging from bedding, sofas, and chairs to garden furniture, said sales in the fourth quarter that ending on 29 June rose 4 per cent, bolstered by strong summer sales in June, while full-year sales also grew 4 per cent to £1.71billion. Dunelm said its annual pre-tax profit is likely to be come in ahead of previous forecasts of around £200million. The sales figures marked a recovery from a slowdown it witnessed in the prior quarter after a particularly weak March. Nick Wilkinson, Dunelm's chief executive, said: 'Throughout the year, we grew sales and continued to exercise tight cost control in an environment of high inflation. 'Our strong gross margin performance means we now expect our FY24 profit before tax to be slightly ahead of expectations. #dunelm #freightcost #expectations #freightforwarding

Exciting developments are ahead in the retail marketplace. Strategic vacancy management is driving higher rents and diverse tenant mixes, while major retailers like Whole Foods, Nordstrom Rack, Target, and others reveal their ambitious plans for 2024. How do you envision these trends shaping the retail landscape in the coming year?   Whether you're managing a few properties or a few hundred, our user-friendly platform provides the insights you need to optimize operations, mitigate risks, and seize opportunities. #commercialrealestate #proptech #propertymanagement #retail