In the media
Key retailers, led by Marks & Spencer, Tesco, Primark, and Debenhams, revealed better-than-expected trading results for the period ended 31 December to 7 of January 2017. This caps of a week of fantastic results announcements for British retailers and demonstrates the resilience of British shoppers, according to Ray Gaul, VP research & analytics, Kantar Retail.
Even among those who don’t believe bankruptcy is imminent, like Dave Marcotte, senior vice president of the Americas for Kantar Retail, the question is whether Sears still has the juice for a turnaround. Reducing inventory and cutting employees is the company just “eating itself,” he said. “All you’re doing is reducing capabilities.”
“The fight among retailers will be how to attract more grocery dollars from families with a key focus on the millennial shopper as they grow up and grow into the household shopper role,” Diana Sheehan, Director of Retail Insights for Kantar Retail, told Retail Dive.
And there is also FOMO, the fear of missing out, said Amy Koo, senior retail analyst for Kantar Retail, an advisory firm in Boston. If customers think they only have a short window to get something good, they’re more likely to buy.
“Let’s be honest, Internet shopping is a fact of life and has very drastically reorganized how shoppers think about shopping and what they want to do in person,” Koo said. “The pop-ups that are the most successful are the ones that really force a shopper to engage with a brand, not in the sense that it’s a chore, but in a way you want.”
In this week’s episode of the Retail Ramble podcast, editor, Ben Sillitoe, and digital features editor, Caroline Baldwin, sit down with Anusha Couttigane and Tiffany Hogan, both senior analysts at Kantar Retail, to discuss technology developments in the world of fashion and jewellery.
higi’s expansive retail footprint and omni-channel consumer engagement platform has also made Brian Owens, director of health & wellness insights for Kantar Retail, take notice. “As we move from traditional sick-care management to self-care management, I’ve been impressed with higi’s platform and expertise,” he said. “Platforms like higi’s are going to be the future of healthcare.”
“I think it is a very intriguing concept,” said Diana Sheehan, director of retail insights at Kantar Retail. For the millennial shopper, she said Amazon’s use of technology to increase convenience will be attractive.
“I think the relevance [of Singles’ Day] in Asia is going to continue to skyrocket,” says Tiffany Hogan, senior analyst at Kantar Retail. “I wouldn’t be surprised if we see it creeping into Europe… I do anticipate that it will have a moment, and I think that moment will come here. I just don’t know what the size of it will look like yet.”
But affordability is not the only ingredient in Daiso’s success. “Daiso’s store experience is unique at a time when shoppers are becoming bored with constant price wars,” says Sara Altukhaim, an analyst with Kantar Retail.