RM Newsletter August 2024
Retail Merchandiser Magazine
Retail Merchandiser magazine has been reporting on the retail sector and all its complexities for nearly six decades.
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H&M has made a commendable decision to support its Bangladeshi suppliers by not seeking discounts on their orders, despite economic pressures. Meanwhile, UK high streets are facing a significant challenge as recent riots have led to a 4.8% drop in footfall, exacerbating the already struggling retail environment
Here’s what you need to know:
?? Frasers Group tightens grip on Boohoo. Mike Ashley, a prominent figure in the retail industry, continues to make strategic investment moves. Recently, Frasers Group significantly increased its stake in Boohoo. This move underscores the group’s confidence in Boohoo’s potential and highlights the strengthened alliance between the two entities amid the current market challenges faced by the fast-fashion sector. The decision to increase Frasers Group’s stake in Boohoo from 24.04% to 25.02% is part of a broader strategy to enhance its investment portfolio and capitalize on potential synergies between the two companies.
Also...
??? CEO Andrew Keith steps down from Selfridges. The CEO of Selfridges, has stepped down after nearly four years at the helm of the luxury department store. His departure marks a significant shift for the retailer, which has seen considerable transformation and growth under his leadership.
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?? UK retail sector sees low inflation. UK retail inflation has reached a significant low, holding steady at 0.2% as of July 2024, a level not seen since October 2021. This trend is particularly driven by the persistent deflation in clothing and footwear prices, which continue to fall despite broader economic challenges. The British Retail Consortium (BRC) and NielsenIQ reported that non-food items experienced a deflation rate of -0.9%, showing a slight improvement from -1% in the previous month.
?? Advanced POS role in reducing theft. Retail theft remains a persistent and growing challenge for the industry. As the cost of living crisis intensifies, incidents of retail theft have surged by 25% since 2022. This increase in theft has compelled retailers to seek more sophisticated solutions to protect their inventory and ensure a secure shopping environment. In 2024, adopting advanced point-of-sale (POS) and display solutions is crucial for mitigating theft and maintaining retail profitability.