Retail Jobs To Go.
NBC News is reporting that the death of retail could result in mass graves as retail workers in their thousands are replaced by robots with cashiers being the first to go. With the closure of many stores in the US (Sears are up to 200 store closures) and the rationalising of other operations, robots could replace up to 7.5m jobs over the next 10 years.
Topshop Joins List Of Struggling Retailers.
A comparative newcomer to the Australian retail scene has called in the administrators as the Australian arm of Topshop struggles in a competitive fashion market. Topshop/Topman has 760 employees and annual sales of around $90m. They operate 9 stores and 17 Myer concessions. The UK Topshop entity has indicated it will assist to keep the brand operating in Australia.
Amazon Opens First Brick’N’Mortar store in New York.
The store — which sells mostly books and some electronics, like the Amazon Echo — doesn’t have traditional price tags, and it only stocks books that have earned an average rating of 4.5 stars or above online.
Pop-ups Become More Mainstream In US
A report from the US says that growing retail vacancies mean that more landlords are prepared to negotiate short term “pop-up” leasing arrangements with many real estate companies now actively listing “pop-up” opportunities.
CBD Vacancies Rise
Knights Frank have reported that Melbourne CBD shop vacancies are on the rise while shopping centre vacancies have actually fallen as landlords offer incentives to tenants. Apparently the overall CBD retail vacancy rose from 2.45% in June 2016 to 2.7% in 2017. Vacancies in arcades have risen to 4.75% the highest in 10 years.
April Retail Sales Good For Food But Not Much Else.
April retail sales were up 3.08% on last year in seasonally adjusted terms with food retailing up 4.29%, liquor 7.31%, takeaway food 6.16%, and cafes & restaurants up 4.19%. However discretionary spending categories like household goods, hardware, and electrical goods continue to struggle.