20 Mar Market highlights – March 2017
Every month B.D.C. gives you the key retail information you should not have missed. Key trends, innovation, major players, startups, market figures – discover in 60 seconds the latest key retail news.
UK MARKET HIGHLIGHTS
High street footfall significantly slumped in February. It fell by 12.5% compared to January and by 6.5% compared to February 2016 (Ipsos Retail Performance’s Retail Traffic Index). The explanations are both the rising inflation and continuous growth of Ecommerce (+16% in 2016).
At the moment, 71.5% of the British population is an online shopper (according to a new research from the Centre for Retail Research). It has been predicted that this part of the population should spend £67bn online in 2017, including £27bn via mobile devices. The Mobile-First is no more a trend but a must-have and retailers must meet customers expectations by working on apps, check-out and m-payment.
TJX Companies (parent company of TK Maxx) recorded annual net sales of £26.45 Mds (+7% compared to 2015). As a result, TJX Europe is planning to add 45 stores in Europe in addition to the 582 they already have.
John Lewis invests £4 millions to equip 8,000 shop-floor staff with iPhones. Thanks to a pre-loaded app, they will be able to quickly help customers in store and share information about products or stock level. It received very positive feedback after just a 5-months trial in its Cambridge store.
INNOVATION & TRENDS
Wirewax is a British start-up that enables brands to offer interactive and shoppable video content. Customers can access products information and buy products just while watching a video. The company works with major UK brands such as Ted Baker or Charlotte Tillbury. They also have offices in London, San Francisco and New York.