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What does the future hold for Australian department stores?

Inside Retail

Australias department stores are at a crossroads. Competition has never been more fierce and while data from the Australian Bureau of Statistics showed an uptick in department-store sales in November, this is likely temporary with earlier months showing stagnation or decline. So how did we get here?

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How can department stores pivot ahead of a spending decline?

Inside Retail

The biggest swing occurred in department store spending, which saw a 14.3 Especially in department stores, where the consumer appetite to spend appears to have fallen so dramatically between November and December? After almost a year of consecutive increases, the retail industry saw a 3.9 per cent in August, 2022.

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Neiman Marcus, Saks Still Unable to Come to Terms on Takeover Deal

Retail TouchPoints

This offer had valued Neiman Marcus at $3 billion , but the luxury retailer objected to the deal’s structure because a significant portion of the payout would not have been in cash, people familiar with the matter told WSJ. Nieman Marcus has rejected Saks Fifth Avenue ’s latest takeover bid, according to the Wall Street Journal.

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Half of Brits shop for experience, not purchase, finds PPL PRS survey

A1 Retail

Nearly half (46 percent) of shoppers get more of a mood boost from the experience itself rather than the items they buy, according to research by PPL PRS Just one percent of Brits purchase purely online in good news for the retail sector, with two-thirds (64 percent) making the trip to the stores regularly Being able to try before they buy is the main (..)

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Ross Stores Plans 100 Openings in 2023 as it Pursues Goal of 3,500+ Stores

Retail TouchPoints

As part of the retailer’s plans to open 100 locations in 2023, Ross Stores opened 11 Ross Dress for Less and eight dd’s Discounts stores in 13 states during February and March. The 2023 additions will include 75 Ross and 25 dd’s Discounts locations. Overall sales were down slightly in 2022, at $18.7

Planning 264
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NRF: Electronics Will Drive Back-to-School Spending to Record $41.5 Billion

Retail TouchPoints

Opportunities still remain for retailers to capture the remaining spend, as 85% of families still have at least half of their shopping left to do. The most common reason for spending more than last year is needing new things, at 43% in 2023 compared to 32% in 2022. per person, up from $1,199.43 set in 2021.

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NRF: Shoppers Are Spending for Valentine’s Day and Super Bowl Despite Pandemic Pressures

Retail TouchPoints

Not all of that spending will go to product purchases at retail — 41% of survey respondents said they would “love to receive the gift of experiences,” up from 36% in 2021. Just 15% of shoppers will throw their own party and 20% will attend someone else’s party, with another 5% planning to catch the big game at a bar or restaurant.

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