17 Oct Market highlights – October 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
According to the BRC-KPMG Retail Sales Monitor, UK retail sales in September increased by 1.9% on a like-for-like basis compared to the same month last year. Back-to-school goods and winter clothing are the categories that performed well.
Looking into detail, 22.4% of UK retail sales took place online in September (the highest proportion of the year so far).
On the opposite, high street footfall was in decline for the 3rd consecutive month throughout September, dropping by 1.2% in the five weeks to September 30th. The growing cost of doing business is one of the reasons why retailers struggle to invest in their store propositions, driving then less traffic in-store.
Tesco reported profits up by more than 690%, thanks to its focus on the customer experience. They rolled out a contactless payment Clubcard, a Clubcard app, as well as same-day delivery service across the UK.
Asos unveiled a same-day delivery option for customers in London for £12.95 on any order placed before 10am on weekdays. Indeed Asos had to react to stay competitive in a market where Amazon is speeding up its fashion category and where new fashion players are coming up.
Farfetch has been named as the UK’s fastest-growing retailer after achieving 70% revenue growth (£ 268 million) in 2016. These results are mainly explained by Farfetch’s innovative approach of retail, and other luxury online retailers also tend to push innovation to grow business (i.e.: YNAP group launching a core plateform to run all businesses and develop innovation).
NEWS FROM OUR ECOSYSTEM