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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

Saks currently operates 39 stores, while Neiman has 36 department stores, two Bergdorf Goodman stores and five Last Call discount stores. A merger of the two companies would give Neiman and Saks more clout with luxury suppliers and allow them to cut duplicated costs.

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Best & Less to go public as Australia’s crowded discount sector heats up

Inside Retail

Australian discount department store business Best & Less plans to raise about $72.3 The retailer aims to list on the Australian Securities Exchange (ASX) in mid-June with a market capitalisation of $271.2 million through an initial public offering at $2.15 So best quality and lowest price.”.

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How retailers can capture the Millennial market in a cost-of-living crisis

Inside Retail

So how can retailers capitalise on the Millennial market and what drives this generation’s interests? Instead, savvy brands attempting to target the equally savvy Millennial market might need to head for ‘green but lean’. Trends such as ‘eco’ have been prioritised in the past few years, with everyone hopping on the enviro-brand wagon.

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

Retail TouchPoints

Ecommerce shops will be the most popular destination, visited by 41% of shoppers, followed by department stores ( 32% ), discount stores ( 28% ), small businesses ( 18% ) and florists ( 17% ). Candy ( 56% ), greeting cards ( 40% ) and flowers ( 37% ) also will be popular items with many shoppers.

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NRF sees record Mother’s Day spending

Mass Relators

“While most consumers shopped online last year for the perfect Mother’s Day gift, we are seeing just as many people turn to department stores as a shopping destination this year,” says Phil Rist, executive vice president of strategy for Prosper.

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Retail spending strong in late 2022, but signs of slowing emerge

Inside Retail

The most significant annual increases in retail were seen in specialty retail stores, alcohol goods, family clothing stores and discount stores. Meanwhile, spending declined in department stores, home supply warehouses, household appliances and furniture categories.