👏 What is Next doing?? Gotta bloody hand it to Next—a UK brand that really seems to have its head screwed on from those days of heavy catalogues to this day... While Asos and Boohoo are wrestling with slipping sales we hear, Next is out here smashing it online, especially overseas. Their focus on full-price sales abroad shows just how crucial a solid digital game is right now. Next says the increase of full-price sales, with a 4.4 percent increase over the past half year, without specifying exact amounts. Basically shows that full-price sales in Next stores have declined, but they have grown online. I’ve always followed them since their days of massive huge heavy 🏋️♂️catalogues, but this is smart, they’ve been expanding their digital reach well beyond the UK, with huge success in international markets with full price sales via online platforms. It’s a real reminder that if you’re not adapting and pushing those boundaries in ecommerce, you’re gonna get left behind. They are seemingly innovating the way they grow. Article: https://lnkd.in/eNSkiPyY #UKRetail #EcommerceWins #DigitalGrowth #RetailTrends #OnlineStrategy
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Target Forever Changing As It Moves "Cat & Jack" to Hudson's Bay It's a solid idea to move their best own brand Cat & Jack, and perhaps inevitable given Target's position: Target looks to resolve two problems in its portfolio at the same time: * How to expand in Canada if it can't implement an ERP system properly (RIP Target Canada) 😂 , and * How do we grow our revenues if traffic has flatlined at Target stores? I knew there was a hint of this at the Earnings Call last week. The company spent a half an hour with the merchandising team talking about the size of its own brands, its design expertise. You would think you were hearing from a brand owner, but instead you were hearing from the owners of the various category lines about the skill and capabilities of their own brand portfolio. If only AllBirds had that same expertise with their recent issues. Target own brands are famously great, and are a key reason people shop at Target in-store and online. So when Target has announced that Cat & Jack, its flagship own brand at $3B a year in sales is going mainstream, you sit up and take notice. With its introduction into Canada, Target is doing two things. Testing in an important retailer, but not one of the top ones. Second, it is reintroducing a brand into a market that does not have access to the product today. Cat & Jack will have a dedicated display in the store, and also present online. It seems that this charts a new path for both companies. Target is looking to access new customers and markets to grow its own brand sales off-Target. It's a smart avenue. As far as the Bay is concerned, they have been troubled of late, and a new CEO returned to the helm at the end of last year, Liz Rodbell, a former President and former Chief Merchant. It's not hard to imagine that the former merchant wants to start with the most important aspect of retail to get right: the product. I would expect more expansion from both companies along these lines. Just don't expect Target to ever put up Cat & Jack on Amazon or Walmart ;-)
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Next reflects on a successful half year. The British retailer has revised its profit expectations upwards. While pure players Asos and Boohoo, also from the United Kingdom, struggle to maintain their online sales, Next continues to grow digitally, especially abroad. This is evident from Next’s recent quarterly and half-year reports. The revenue growth of 8.4 percent at the group level is partly due to the acquisition of the lifestyle brand FatFace and the increased stake in Reiss. However, the company is also achieving incremental growth.
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What’s been happening in retail this week? · Tesco appointed Steve Edwards, previously of Amazon, and Russell Franklin from Pinterest, to enhance its retail media division. Edwards will engage with agency partnerships, while Franklin will focus on expanding media reach across advertisers. · L’OCCITANE Group chair Reinold Geiger privatised the skincare firm for £1.4bn on Monday. Geiger's investment company paid a 30.8% premium per share, holding 72.39% of the company by March. · Manzanita Capital appointed Raymond James bankers to oversee the potential sale of Space NK. The beauty chain, valued between £300m and £400m, may see a partial or full sale. · Screwfix is investing £1m to double its refurbishment operations, now including non-electrical items. Launched online in 2022 and hitting £2m in sales last year, the investment will enhance capabilities at its Stafford centre. Screwfix aims to double its eco-friendly Green Star products to 3,000 this year. · wilko introduced its range of budget-friendly, self-assembly kitchens, comprising six styles. Shoppers can now redesign their kitchens entirely online. · JD Sports Fashion is rolling out tagging sprays nationwide to combat shoplifting with SelectaDNA. · Lidl GB announced plans for extensive UK expansion, eyeing cities like Bristol, Birmingham, and London, alongside towns such as Edinburgh, Leeds, and Woking. This followed significant infrastructure investments, including a large warehouse in Luton, to mark its 30-year UK anniversary. · The opening night at Co-op Live in Manchester was postponed for a third time on Wednesday following a technical issue, resulting in cancelled gigs. The £365m venue was to debut with US rapper A Boogie wit da Hoodie, but fans were turned away just before the show. · Next saw a 5.7% increase in total sales for the 13 weeks to 27 April, surpassing the forecasted 5%. Online sales rose by 8.8%, but retail sales stayed constant. Despite anticipating a weaker second quarter with a 0.3% sales drop, Next's full-year sales and profit guidance remains unchanged, with an expected pre-tax profit of £960m, a 4.6% increase. · Amazon reported a 13% increase in net sales, reaching $143.4bn (£114.8bn) for the quarter ending 31 March. Net income rose to $10.4bn (£8.3bn), up from $3.2bn (£2.56bn), with operating income climbing to $15.3bn (£12.3bn). Amazon Web Services (AWS) sales grew by 17% to $25bn (£20.04bn). Advertising revenue was up 24% year on year driven by the growth of Prime Video & Amazon Studios. · Vinted achieved profitability for the first time, marking a strong year of growth. The Lithuanian marketplace reported adjusted EBITDA of €76.6m (£65.5m) and net profit of €17.8m (£15.2m) in 2023, surpassing a net loss of €20.4m (£17.5m) in the previous year. Revenue surged by 61% to €596.3m (£510m). This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM
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Mercari US’s advertising in the New York subway is a noteworthy move. This strategy aims to increase brand visibility in a market that values resale and sustainability. However, it is crucial for the company to ensure its messaging resonates with local consumers. Given the competitive landscape with players like eBay and Poshmark, Mercari must effectively differentiate itself to capture attention and share. This campaign could provide valuable insights into U.S. consumer behavior and preferences. #JAPANDROPS #Mercari
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Mid-market retail in Canada continues to struggle as consumers purchase second-hand off Facebook Marketplace instead of buying new. For mid-market retailers pondering their future, the time is ripe for strategic renewal. The cornerstone of this is answering a few questions: What does the company excel at? What are the unique strengths that will make the company competitive? What has changed in the lives of target customers? How has what they value shifted? How can the company’s expertise be applied to provide unique value to customers? Great article by Jared Gordon in Retail Insider: https://lnkd.in/g9tS5ZgQ
Mid-Market Retailers in Canada Navigating Challenges and Opportunities as Consumers Shift Op-Ed
https://retail-insider.com
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What’s been happening in retail this week? · Tesco appointed Steve Edwards, previously of Amazon, and Russell Franklin from Pinterest, to enhance its retail media division. Edwards will engage with agency partnerships, while Franklin will focus on expanding media reach across advertisers. · L’OCCITANE Group chair Reinold Geiger privatised the skincare firm for £1.4bn on Monday. Geiger's investment company paid a 30.8% premium per share, holding 72.39% of the company by March. · Manzanita Capital appointed Raymond James bankers to oversee the potential sale of Space NK. The beauty chain, valued between £300m and £400m, may see a partial or full sale. · Screwfix is investing £1m to double its refurbishment operations, now including non-electrical items. Launched online in 2022 and hitting £2m in sales last year, the investment will enhance capabilities at its Stafford centre. Screwfix aims to double its eco-friendly Green Star products to 3,000 this year. · wilko introduced its range of budget-friendly, self-assembly kitchens, comprising six styles. Shoppers can now redesign their kitchens entirely online. · JD Sports Fashion is rolling out tagging sprays nationwide to combat shoplifting with SelectaDNA. · Lidl GB announced plans for extensive UK expansion, eyeing cities like Leeds, Edinburgh, Bristol, Birmingham, and London. This followed significant infrastructure investments, including a large warehouse in Luton, to mark its 30-year UK anniversary. · The opening night at Co-op Live in Manchester was postponed for a third time on Wednesday following a technical issue, resulting in cancelled gigs. · Next saw a 5.7% increase in total sales for the 13 weeks to 27 April, surpassing the forecasted 5%. Online sales rose by 8.8%, but retail sales stayed constant. Despite anticipating a weaker second quarter with a 0.3% sales drop, Next's full-year sales and profit guidance remains unchanged, with an expected pre-tax profit of £960m, a 4.6% increase. · Amazon reported a 13% increase in net sales, reaching $143.4bn (£114.8bn) for the quarter ending 31 March. Net income rose to $10.4bn (£8.3bn), up from $3.2bn (£2.56bn), with operating income climbing to $15.3bn (£12.3bn). Amazon Web Services (AWS) sales grew by 17% to $25bn (£20.04bn). Advertising revenue was up 24% year on year driven by the growth of Prime Video & Amazon Studios. · Vinted achieved profitability for the first time, marking a strong year of growth. The Lithuanian marketplace reported adjusted EBITDA of €76.6m (£65.5m) and net profit of €17.8m (£15.2m) in 2023, surpassing a net loss of €20.4m (£17.5m) in the previous year. Revenue surged by 61% to €596.3m (£510m). · Please don't forget to sign up for our webinar "Outlook for 2024 & Beyond: Retail Prospects & Shifts in Consumer Affluence" in partnership with beBettor 4 June at 12pm ➡ https://lnkd.in/eBfhA9Xb
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The UK fashion and retail sector is booming, especially online! 📈 With online retail projected to grow by 5.3% in 2024, outpacing overall retail sales, the shift towards e-commerce shows no signs of slowing down. The rise of non-store retail, including online marketplaces and various digital channels, highlights the changing landscape of shopping. This surge is creating abundant opportunities for experts in digital marketing, social media marketing, and e-commerce logistics, as well as those looking to start a career in fashion and retail. If you're passionate about fashion and retail, the UK's flourishing e-commerce sector is brimming with exciting career paths. Stay tuned as we bring you exciting opportunities within this dynamic industry! 🚀 #retail #logistics #retailoperation #fashion #ecommerce #wholesale #irlamassociates
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What's interesting about this story is that apart from a small mention about department store David Jones & JB HiFi, it's really about retailers who are mostly vertical or direct to consumer. The higher advantage of buying direct from their factories allows them the luxury of using the higher margins this model provides to discount more often, longer and deeper than retailers who rely on the traditional wholesale support model. Many of these brands who may have also been wholesalers are watching that segment of their turnover dwindle simply because smaller retailers cannot compete on like for like product, their starting point in terms of pricing is higher so they don't have the margins to discount & compete. Many are therefore forced to look outside the "bigger" brands to make money. Put simply, it's not a case of ignoring rather than being unable. Independents offer a service, product and brand point of difference but with many of their historical supply base being their biggest competitors they are struggling to survive. Many vertical or DTC retailers/brands now have an offer almost 365 days a year because the discount drug has led them to a place where they can't sell if it's not discounted. Instead of being about their technology, brand, history and culture, it is now only about how cheap can I be. So what is the real price? It's a race to the bottom where we'll only have department stores & international and chain stores to buy from and they'll all have same products making it boring to shop.
Ignoring Black Friday sales is no longer an option for retailers. So now they’re getting tactical
theage.com.au
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𝐇𝐨𝐰 𝐍𝐞𝐱𝐭 𝐢𝐬 𝐃𝐞𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐞 𝐎𝐝𝐝𝐬: 𝐒𝐮𝐫𝐩𝐫𝐢𝐬𝐢𝐧𝐠 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐓𝐡𝐞𝐢𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 #Next, the renowned British #retailer has achieved a remarkable half-year #performance that’s catching everyone’s attention. While UK-based #online giants like #Asos and #Boohoo grapple with declining #sales, Next is experiencing a surge in digital growth, especially on the #international stage. In their recent reports, Next revealed an impressive 8.4% increase in revenue over the past six months. This boost is partly due to their strategic acquisition of FatFace and a greater stake in Reiss, but their own steady growth cannot be overlooked. 𝐅𝐮𝐥𝐥-𝐏𝐫𝐢𝐜𝐞 𝐒𝐚𝐥𝐞𝐬: 𝐀 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝 What’s particularly striking is Next’s 4.4% rise in full-price sales. Although physical store sales have seen a dip, online sales have flourished, with international #markets driving a 22.8% increase. This #growth has far exceeded Next’s expectations and demonstrates their strong #digital presence abroad. This success contrasts sharply with the struggles of UK online #retailers like Asos, which is trying to turn things around with faster production methods, and Boohoo, which is pivoting to a new marketplace strategy. 𝐑𝐞𝐯𝐢𝐬𝐞𝐝 𝐏𝐫𝐨𝐟𝐢𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭: 𝐀 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 Buoyed by these results, Next has adjusted its #profit forecast upwards by 23 million euros (20 million pounds), anticipating a profit of 1.14 billion euros (980 million pounds) for the year, on #revenue of 7.2 billion euros (6.2 billion pounds). This marks a 6.7% increase from the previous year. The company credits this boost to higher sales and cost-saving measures, especially in #logistics. Next’s impressive performance offers valuable insights into successful strategies for digital growth and international expansion. 𝐈𝐟 𝐲𝐨𝐮’𝐫𝐞 𝐜𝐮𝐫𝐢𝐨𝐮𝐬 𝐚𝐛𝐨𝐮𝐭 𝐡𝐨𝐰 𝐭𝐡𝐞𝐲’𝐫𝐞 𝐚𝐜𝐡𝐢𝐞𝐯𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐢𝐭 𝐜𝐨𝐮𝐥𝐝 𝐦𝐞𝐚𝐧 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬, 𝐬𝐭𝐚𝐲 𝐭𝐮𝐧𝐞𝐝 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐩𝐨𝐬𝐭𝐬 𝐰𝐢𝐭𝐡 𝐯𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐚𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐭𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬! #RetailSuccess #EcommerceGrowth #BusinessInsights #DigitalExpansion #GlobalRetail #ProfitGrowth #RetailStrategy #BusinessStrategy #MarketTrends #NextRetail #InternationalEcommerce #EcommerceTrends
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Get ready to have your head messed with on a Bank Holiday weekend! ‘Retailer on Retailer’ (RoR) is a term that we will all start to hear more about in the coming year. We’re all familiar with fashion retailers with their own outlets selling both inside physical Department stores and online with companies like John Lewis & Partners. In recent years, we’ve also become accustomed to seeing established retailers and merchants beginning to sell their ranges on marketplaces like eBay and Amazon. But as retailers like B&Q, Boots UK and Decathlon launch and scale their own marketplaces, it begins to ask some very interesting and mind-bending questions. If B&Q for example continues to take share and dominate Home & Garden traffic (they currently have 26m visits every month), how long will it be before we see Homebase Wickes and even maybe IKEA becoming sellers on B&Q Marketplace? It’s not such a strange question at all; ask yourself for example, who loses in this scenario? And as one major Home retailer prepares to launch on another major retailers website, we’ll soon be able to answer this question for ourselves. #ecommerce #retail #trends #marketplace #future
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4moLove this 🦁Tony Conte I remember the days of Next To Nothing. Which was slight damaged stock too.