Preston Market Shoppers Fuming – Preston Market’s much hyped Sunday opening last weekend turned into a PR disaster when customers complained about lack of choice as many Fruit & Vegetable stallholders failed to turn up. Some traders have vehemently opposed Sunday trading, which they claim will place an unfair burden on stallholders, but it would appear the public were not impressed.
Even Some Of The Retail Darlings Are Struggling – a ripple went through leasing circles this week as rock star retailer, Zara, approached owners to break their lease at the Robina Shopping centre on the Gold Coast due to poor business levels. Zara opened up at the nearby Pacific Centre last year.
Black Friday Loses Its Appeal – Fast Company has reported that consumers are becoming dis-enchanted with Black Friday, the mega sales day that follows Thanksgiving. Apparently they claim there is just too much stress associated with the one focussed day and many prefer to wait for the second week of Christmas to get active with their shopping.
Failure Is Good - Retailers Need To Change The Way They Tackle Innovation – following is a link to an article on the Harvard Business Review that challenges the way we tackle change in the retail industry including the need for a culture that allows failure. https://hbr.org/2017/11/3-changes-retailers-need-to-make-to-survive
QVM Launches Christmas – this link came through on our Google newsfeed this week - http://www.qvm.com.au/christmas
News In Brief:
1. Alibaba breaks record for “Singles Day” sales.
2. Hugo Boss wholesale channel declines slightly as it ramps up in-store performance improvement.
3. Amazon says thousands of sellers have joined its Australian operation.
4. Womens wear retailer, Decjuba, launches mobile focussed website.
5. Australians spend around $230 per month on fast food and dining out.
6. Oxford Street, London, to close off street to cars, and create pedestrian mall.
7. Woolworths focuses on local produce in its “Share the spirit of Christmas” campaign.
8. The Iconic and General Pants show interest in Surfstitch.
9. Amazon says Australian launch is “really, really close”.
10. Sydney’s Pitt Street Mall is the seventh most expensive retail street in the world.
11. David Jones retail sales decline by 5.3%
12. Bunnings will continue to make losses in challenging UK market.
13. ACCC warns large clothing retailers about their consumer guarantees amidst rising consumer complaints.
14. Walmart lifts profit outlook.