- 6:29 PM
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| Image Source: google |
Strange yet true that the Swedish fast fashion retailer recorded its worst sales growth for three years as the fashion retail industry was hit by the strength of the dollar. What;s more interesting is that H&M buys much of its materials in dollars and the currency's strength has been pushing up costs at the high street chain.
Measured in local currencies, H&M's sales in the UK were one per cent higher, and seven per cent higher in the US, but sales were flat in Germany, which is the clothing store's biggest market.
The company further divulging the strategy stated that it is going to expand by opening around 425 new outlets this business year, as well as expanding for the first time into Puerto Rico, New Zealand and Cyprus amidst losses.
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For more retail industry news visit us.
- 12:23 PM
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A.T. Kearney has recently released Global Retail Development Index (GRDI) being published since 15 years, suggests that amid ongoing economic turbulence, developing markets continue to offer retailers some prime opportunities for growth. India’s improved ease of doing business, and better clarity regarding foreign direct investment (FDI) regulations puts India in 2nd place that was placed at 15th Position in the GRDI 2015 index. China still remains the undisputed leader despite slow growth in economy.
Four out of the top five countries are in Asia, despite continued economic challenges and transformation. There are other promising players that emerged like a shining star - Malaysia(3rd) & Indonesia (5th) - showing promising results in terms of retail opportunities
.While on the other hand, there are few countries where political unrest and economic deceleration have hurt retail like Latin America, Russia and Middle East.The report findings reflect the struggles many markets face with shifting economic and political realities.
While the report further envisages the driving factors that would build future of retail - trade openness and the evolution of retail and consumer technology. The report further predicts that by 20130, there will be US $8 trillion swing in global retail sales.
Four out of the top five countries are in Asia, despite continued economic challenges and transformation. There are other promising players that emerged like a shining star - Malaysia(3rd) & Indonesia (5th) - showing promising results in terms of retail opportunities
.While on the other hand, there are few countries where political unrest and economic deceleration have hurt retail like Latin America, Russia and Middle East.The report findings reflect the struggles many markets face with shifting economic and political realities.
While the report further envisages the driving factors that would build future of retail - trade openness and the evolution of retail and consumer technology. The report further predicts that by 20130, there will be US $8 trillion swing in global retail sales.
- 12:38 PM
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Ever scanned internet in pursuit of an outfit spotted on a stranger at a party last night. You wanna own that piece but you aren’t able to locate the exact store from where it was brought. But now with the advancement in retail technologies many applications have been developed. Retailers are using various tactics to acquire as well as retain customers.Visa’s new Blippar app may be your answer, a new instant retail app, that enable iOS and Android smartphone users to take photos of passers-by to identify pieces of clothing that appeals to them.
This new retail application may change the the way consumers shop when it comes to fashion product and accessories.Currently, the app is in the trial phase but it sounds interesting to have such an app where you can actually point your phone at a friend’s new outfit, only for the app to recognise and source that outfit in your size, and give you the option of having it sent straight to your home. A word of caution for the app users is that they should always ask for the permission of the person before taking the photo.
This new retail application may change the the way consumers shop when it comes to fashion product and accessories.Currently, the app is in the trial phase but it sounds interesting to have such an app where you can actually point your phone at a friend’s new outfit, only for the app to recognise and source that outfit in your size, and give you the option of having it sent straight to your home. A word of caution for the app users is that they should always ask for the permission of the person before taking the photo.
- 6:20 PM
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