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France Retail: prospects for the clothing and footwear sectors are still far from positive
The stabilization of the pattern of weakening French consumer confidence in the first quarter of the year cannot mask the pessimism that is still being felt in the country, especially in the context of social unrest. Moreover, in this reality of high inflation, neither do price increases hide the contraction in volumes sold nor is it possible to ignore the difficulties faced by companies more exposed to the domestic market due to increased operating costs (rents and energy) or even the stagnation of the online channel. Retail prospects for the clothing and footwear sectors are, therefore, still far from positive
Zalando launches virtual fitting room pilot
The German-based e-tailer is piloting a virtual fitting room experience with millions of customers across its 25 markets to better understand how they engage with this new technology
Amazon posts profit in the first quarter
The Seattle-based online retail giant reported a first quarter 2023 net income of 3.2 billion US dollars, as compared to a net loss of 3.8 billion US dollars in the same period last year
Asos adds two non-executive directors to the Board
The UK-based fashion retailer has named Natasja Laheij and Jose Manuel Martinéz Gutiérrez as independent non-executive directors to its board of directors, effective as of the 11th of April
Japan retail: unlocking consumer confidence is key for retail
The volume of footwear imports closed 2022 about 10 percentage points below the 2015 baseline, suggesting that the impact of the imported inflation on prices has been clouding the real performance of retail sales in the category. Both the government and some companies have offered inflation allowances or anti-inflation subsidies, but given the saving Japanese mindset, it can be expected that any additional disposable income will not necessarily be used for discretionary shopping, such as clothing and footwear. To boost consumption, it is therefore needed to unlock consumer confidence, which improved only marginally In February, and appears now to be flattening
Amazon to cut another 9 000 jobs
The online retail giant announced that will lay off more 9 000 employees in the coming weeks, on top of the previously announced cuts that began in November and extended into January
Zalando reports slower growth
Amidst a challenging macroeconomic environment, the German-based online retailer posted a GMV growth of 3.2% in 2022, year-over-year, with revenue remaining stable at 10.3 billion euros
German online footwear sales declined by 16.6% in 2022
With consumer spending taking a hit due to the war in Ukraine, online sales fell by 8.8% in 2022, year-over-year. But the footwear sector was the most affected, says BEVH
Germany Retail: one swallow doesn’t make a summer
Despite the upturn in consumer confidence observed in the last quarter of 2022, there is still much concern among retailers. Footwear imports are following an upward trend since October, which could be read as a good sign concerning the health of retail, but German businesses are quite familiar with the sensitivity of their consumers to slight changes in overall economic conditions, and inflation is still expected to impact directly sales. Caution seems definitely to be the watchword at the start of 2023
Farfetch's CFO to step down by the end of 2023
The luxury e-tailer has announced that Elliot Jordan will step down from his role as Chief Financial Officer by the end of 2023. Meanwhile, Farfetch will initiate the search for a successor
Farfetch: growth slowed down in the fourth quarter of 2022
Despite achieving a record full year revenue, the luxury online retailer reported a fourth quarter 5% revenue decline and a 12% GMV decrease, as compared to the same quarter of fiscal 2021
Zalando to cut hundreds of jobs
The German-based online retailer announced that it will cut hundreds of jobs due to the increasingly challenging macroeconomic environment experienced after the COVID-19 pandemic
France Retail: inflation will yet impact retail, but there is a light at the end of the tunnel
Figures by the Banque de France suggest that retailers may have felt some relief in December 2022, but the weight of inflation in these results must not be overlooked, with turnover growing quite faster than the production itself. Moreover, the impact of inflation on footwear might yet be to be felt. French consumers tend to purchase the category during sales, but retailers may not be able to make the big discounts that would make consumers shop in a context of still significant inflation due to the need of preserving margins. However, there are signs of light at the end of the tunnel, as retailers’ and consumers’ confidence indicators show that there is room, at least, for the ceasing of confidence deterioration in 2023.
Amazon to lay off just over 18 000 people
The Seattle-based online retailer giant has announced that it will cut more than 18 000 jobs across stores and in People, Experience, and Technology (PXT) groups
Cyber Monday sales hit record 11.3 billion USD
According to Adobe Analytics, this record was driven by demand despite ongoing inflation felt in the US. Discounts and excess of stock were key to this outcome-
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