Latest Articles in Retail

In Pictures: Zara opens upsized Liverpool One store

Inditex-owned Zara has unveiled an upsized flagship store in Liverpool One. The 42,000 square foot space is a 55 percent increase of its former capacity, and will now house a larger selection of menswear, womenswear and childrenswear across its two floors. In a release, Liverpool One said the flagship places the “customer experience at the...

Retail

California strengthens retail crime laws in boost for fashion retailers

California has enacted sweeping legislation to combat retail theft, introducing measures that could provide significant relief for fashion retailers operating in the state. The comprehensive package, which took effect January 1st, represents the most substantial reform of its kind in the state's modern history. Key provisions include the ability...

Retail

UK retail footfall ends 2024 on subdued note

Retail footfall in the UK continued its downward trajectory in December, marking the second consecutive year of decline for brick-and-mortar retail traffic. Total footfall fell 2.2 percent year-on-year in December, though this represented an improvement from November's 4.5 percent decline, partly due to the shifted timing of Black Friday between...

Retail|Beauty

Barclays says consumers adopted a “treat yourself” attitude in 2024

Looking back at 2024, Barclays said that essential spending in the UK grew just 0.9 percent, down from 3.9 percent last year, as British consumers prioritised spending on affordable treats and experiences. Barclays’ data reveals that non-essential spending increased 1.9 percent, as consumers’ strong appetite for “little luxuries” boosted health...

Retail

UK: Nearly 13,500 retail stores closed in 2024, independents hit hardest

New figures have shown that 13,479 retail stores across the UK closed for good over the course of 2024, an increase of 28 percent on levels from the year prior, according to provisional data from the Centre for Retail Research. This reflected a rate of around 37 store closures a day. Almost half of the yearly figure–7,537 in total–shuttered...

Retail

UK: December footfall rises sharply as challenging new year looms

Footfall across the UK rose in December despite figures painting a picture of shifting consumer behaviour in the wake of a challenging financial year. According to MRI Software, for the five week period ending 28 December 2024, footfall was up 7.1 percent compared to the month prior, and came marginally ahead of 2023 levels at an 0.4 percent...

RetailFeatured

2024 retail woes: 170,000 jobs lost, worse predicted ahead

The UK retail sector has faced yet another challenging year, with nearly 170,000 shop workers losing their jobs in 2024, according to data published this week by the Centre for Retail Research (CRR). The organisation reported that 13,479 stores shuttered operations between January and December, culminating in 169,395 job losses. The outlook for...

Retail

Legacy retail brands stage comeback amid shifting consumer priorities

Traditional American retail brands are experiencing an unexpected renaissance in 2024, even as economic headwinds continue to reshape consumer behaviour. Market data from Placer.ai reveals a nuanced picture where heritage names are finding new relevance, particularly among millennial shoppers who once drove their initial success. Anthropologie...

Retail

UK: Boxing Day footfall takes hit as retailers stay closed

Footfall on the usually bustling Boxing Day took a slight hit this year, reflecting what data specialist MRI Software said could be a “shift in consumer behaviour”. According to the platform’s figures, retail footfall was down 4.9 percent across all UK retail destinations throughout the day. This was compared to Boxing Day in 2023, when footfall...

Retail

US Mastercard report: Sales increase over festive season, apparel leads digital sales

This festive season appeared to be a valuable time of the year for US retailers according to preliminary insights from Mastercard SpendingPulse, which reported a year-over-year uptick in retail sales in the region, with a peak coming in the final five days before Christmas. According to the data, US retail sales (excluding automotive) rose 3.8...

RetailFeatured

Retail braces for a rocky start to 2025

The British Retail Consortium’s latest BRC-Opinium Consumer Confidence Tracker paints a stark picture for the retail sector heading into 2025. While consumer sentiment around personal financial situations held steady at -3 in December, broader economic pessimism deepened significantly, with expectations about the state of the economy plunging to...

Retail

Luxury Western goods line Russian stores, three years into sanctions

Despite a barrage of Western sanctions and swathes of brands quitting Russia after the Kremlin launched its Ukraine offensive, Moscow's most well-off shoppers are still spoilt for choice when it comes to luxury Western goods. In the Russian capital's exclusive shopping quarters, department stores and high-end Russian outlets are doing a roaring...