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Once known for its “treasure hunt” atmosphere, colorful home furnishings, and distinctive holiday decorations, Pier 1 filed for bankruptcy in February 2020. -from CNBC
Apple Marina Bay Sands is the first Apple floating store in the world and will be opened soon. -from SG Yap
Brooks Brothers -- the self-proclaimed oldest clothier in the U.S. -- filed for bankruptcy in July. -from WSJ
Amid lockdowns and social distancing, the pandemic is changing what consumers want and how they buy it. -from CNBC International
From partnering with Instacart to launching Walmart+ as a competitor to Prime, here are all the ways Walmart is looking to catch up with Amazon's dominance in e-commerce. - From CNBC
J.Crew was the first big retail chain to file bankruptcy in the wake of coronavirus lockdowns. -from WSJ
Starting with the opening of the Southland Mall in 1956 malls have been a vaulted piece of Americana for decades. But in recent years they’ve rapidly lost their value. -from Business Insider
Amazon Alexa Example of the Future of Retail. 43% of voice-enabled device owners use the technology to shop. Nearly 5.5 million USA adults make purchases with their smart speakers. -TDInsights Live
WSJ tracked hundreds of store closures, coronavirus statistics and lockdown measures to piece together Apple’s shutdown strategy.
A typical day in the life after COVID-19 for shopping center employees in China as they go about their daily work routine.
Will the coronavirus pandemic lead to long-term changes in how we shop for food? -from WSJ
Latest video from Inditex summarizing their over 1 billion Euros ($1.13 billion) investment in innovation including RFID, self-checkout, and mobile pay.
Analysts and economists are paying close attention to monthly retail sales numbers as a way to gauge how the economy may be recovering from the impact of the coronavirus pandemic. -from WSJ
When the coronavirus pandemic hit, Kohl's closed all of its stores nationwide on March 19, and wasn't able to reopen until early May. -from CNBC
Since most of the U.S. entered lockdown mode, almost all of Wayfair’s brick and mortar competitors shut their doors leaving Wayfair as essentially the only game in town for home furnishings -from CNBC
At the height of its success, J.Crew and its sister company Madewell were operating in over 100 countries and had over 500 stores. -from Business Insider
On March 12th, during the Great Toilet Paper Panic of 2020, sales of toilet paper ballooned 732% compared to the same day the previous year. -from Fortune Magazine
Airbnb was supposed to be the hottest public offering of 2020. Instead, the home-sharing giant just cut 25% of its workforce and expects revenue to be less than half of what it was in 2019. -from WSJ
J.C. Penney rose to prominence as a national retailer by dressing the middle class for over a century. -from WSJ
The plastic cash substitute has been the most popular holiday item on shoppers’ lists for 13 years in a row, as of 2007. -from CNBC
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“Even monkeys can fall from their trees.” – Japanese Proverb
Continuing our global learning journey, our next stop is Tokyo Japan. Founded, in 1603, this city was once a small fishing village called Edo. In 1890, it became Tokyo which means Eastern Capital in English.
In Tokyo, you will find the world’s busiest intersection, the Shibuya crossing where 2,500 people cross the intersection, every time the lights turn green. This city also holds the record for the most Michelin starred restaurants at 212 places to enjoy amazing food.
Tokyo is the most populous city in the world with 37 million people. Uniqueness is everywhere, even in vending machines, where you can buy hot meals, fresh produce, and even umbrellas. There is one vending machine in the city for every two people.
Have lost count on the many times I visited Tokyo to experience their modern retail industry. This picture is from the New Otani Hotel gardens, a favorite during multiple visits.
As the Japanese proverb that opened this summary reminds us, no matter how accomplished we become, you can always make a mistake. Overconfidence can lead to missteps. Life is one sweet ride and Japan provides many reminders on how to enjoy it.
What matters to Today’s Consumer: 2024 consumer behavior tracker for the consumer and retail industries
This report is the third in our annual research series that examines evolving consumer behaviors. This year, we find that many of the behaviors we noted in our 2023 report have persisted, with consumers continuing to express concern about their personal financial situations amid rising inflation. However, this concern has dropped significantly in the past twelve months as just 43% of consumers worry their personal finances will worsen over the next 6–9 months, compared with 80% who were concerned that they would worsen in the equivalent period last year. - From Cap Gemini Read more
52% of consumers are extremely concerned about their personal finances compared to 61% last year. 43% of consumers fear their personal finances will worsen in the next 6-9 months, far below the 80% last year. One in five consumers has already used generative AI in shopping. - From Cap Gemini
The World Ahead 2024: five stories to watch out for
From the biggest election year in history, to how to control AI and even taxis that fly, The Economist offers its annual look at the world ahead. Read more
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