Morning Brew - ☕ That’ll leave a mark

Primark will open 60 new stores in the US.
Morning Brew September 29, 2022

Retail Brew

Bain & Company

Happy Thursday. If you’re hitting that midday slump and want even more Amazon devices in your home, the company just dropped a new device that monitors your sleeping habits. As for us, we’ll just stick to the regular three to five cups of coffee per day.

In today’s edition:

—Jeena Sharma, Katishi Maake


FASHION

American dream

Primark building Primark

Fast fashion—it’s the pillar of American consumerism. Everyone wants a piece of it, including Primark, the British retailer known for its affordable clothing, accessories, and homeware.

The retailer has its eyes set on the US, with expansion plans in place and a focus on elevating the in-store experience and wooing the suburban American customer. Although it’s had a limited presence in the US since 2015 (13 stores in Boston, New York, and Philadelphia), the retailer plans to add 60 new stores over the next five years, in markets including North Carolina, Maryland, and Connecticut.

“As a bricks-and-mortar retailer, we’re looking for great footfall areas,” Kevin Tulip, Primark’s US president, told Retail Brew. “So we’re looking for those great malls or those great downtown areas that have great footfall.”

  • The expansion is part of a larger growth trajectory; the company aims to have 530 stores around the globe by 2026.

American consumers have responded enthusiastically to Primark’s licensing partnerships, like collaborations with Disney featuring Mickey Mouse, Bambi, and Lilo & Stitch, Tulip told us. He also cited the success of Primark’s Stranger Things campaign featuring a line of apparel and accessories.

Fringe benefits: Primark’s clothing lines have also benefited from “word of mouth” marketing, since Primark does not invest big $$ in advertising, a strategy the retailer has stuck with since its inception. Tulip said it has also helped Primark maintain its “cost-conscious” model.

  • Another factor that keeps costs in check is a laser focus on in-store sales. In fact, beyond a “click-and-collect” model that Primark is testing in the UK, it does not sell items online.

“I genuinely believe there will always be disruptors in this industry, as in any industry,” Tulip said. “But I honestly think that people want to be able to experience something [IRL].”

Keep reading here.—JS

        

TOGETHER WITH BAIN & COMPANY

Jingle all the way to the bank

Bain & Company

Ssshhh. Listen. Do you hear that sound? No, it’s not the bells of winter wonderland around the corner—it’s the sweet cha-chings of cash registers ringing loud as the 2022 holiday season kicks off. Forecasts are in, and consumers are planning to spend.

Where did this prediction come from? It’s all here in Bain & Company’s 2022 Holiday Shopping Outlook. This comprehensive guide offers retail tips, nominal and real growth charts, and consumer health indexes to help you turn your holiday season into a holiday miracle.

Look, we understand if inflation and supply-chain issues have you grumbling, “Bah, humbug!” but Bain predicts nominal sales will be up by 7.5%, and that total sales in-store and online will reach $915 billion, up from $850 billion last year.

Make this sweater season a sale-a-thon with Bain’s magic snow globe of an infographic.

        

TECH

Search party

Google logo on a couch Francis Scialabba

Google might have recently celebrated its 24th birthday, but now, it’s giving shoppers and merchants a gift.

At its annual Search On livestream event Wednesday, Google introduced a new slate of tools that streamline the shopping experience for consumers and help them more easily access merchants.

One update includes more visual ways to shop. When a consumer searches the word “shop” followed by the item they’re looking for, they’ll see “a visual feed of products, research tools, and nearby inventory related to that product.”

  • Additionally, Google is expanding its “shoppable search experience beyond apparel to all categories, from electronics to home goods to beauty.”
  • There’s now also a trending products feature within search that shows popular models, brands, and styles across categories.

“We’re not a retailer; we’re not a marketplace. We’re really here to connect shoppers and merchants, and to really try to give the most unbiased, most helpful shopping experience for consumers,” Lilian Rincon, senior director of product management at Google, told Retail Brew.

Google will also be piloting a program for 3D visuals of shoes, starting with sneakers.

  • Rincon said shoppers engage with 3D images almost 50% more than static ones. “For merchants, we think that this could be a real game-changer for some of the smaller players.”

Google understands that shoppers want more personalized shopping experiences, Rincon said.

“When we talk to merchants, one of the number one things they want is to be discovered by consumers,” Rincon said. “We want to personalize to the brand that they tell us, but also similar brands, and we think that also can really help some of these up-and-coming merchants.”

Keep reading here.—KM


        

TOGETHER WITH SOONA

Soona

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SWAPPING SKUS

Today’s top retail reads.

Taking control: Shopify has seen a lot of changes to its C-suite over the past year. Here’s a breakdown of who’s now in charge and how they look to reposition the e-commerce giant. (Insider)

A new plan A: Health companies are looking to rebrand the morning-after pill for Gen Z customers in the age of TikTok and influencers. (The Wall Street Journal)

? out of 5 stars: Customer reviews can sometimes be make-or-break for shoppers, but that’s not the case with DTC e-commerce sites. (Baymard Institute)

A trillion-dollar problem: Shopping cart abandonment is an annual, costly issue for retailers. But Bolt’s got the fix for your conversions with seamless tools that make for a frictionless checkout. See how they’re changing the game for the better here.*

*This is sponsored advertising content.

EVENTS

Win tickets to The SKU!

Win tickets to The SKU!

Interested in networking and engaging with top retail brands? We’ve got you covered.

Just give us a quick update on what you’ve been up to in the world of retail and you’ll be entered to win a ticket to The SKU.

We almost forgot the best part: You don’t have to come alone. You’ll also get a second ticket to give to one of your colleagues.

Enter to Win 🎟

WHAT ELSE IS BREWING

  • Amazon is urging customer service employees to work from home in an effort to save money on real estate.
  • Sephora has rolled out a $49 same-day delivery membership program.
  • The FDA has issued new guidelines for food that is categorized as “healthy.”
  • Macy’s has introduced a third-party marketplace for retailers.
  • Foxtrot Market is rolling out an app-focused loyalty program.

NUMBERS GAME

The numbers you need to know.

When it comes to resale, talk usually centers around apparel, but new data suggests the furniture space is gathering steam.

A new report from Chairish home furnishings marketplace found that while the online resale market “is expected to grow 86% across all categories” between 2021 and 2027, “home furnishings is the fastest growing category with an estimated spend of $22.2 billion over the next five years.”

  • That figure is “outpacing traditional retail by 3x.”

Nearly all (97%) of shoppers say there’s “no stigma associated with purchasing resale furniture.” Chairish attributes the increased popularity to a number of factors, such as:

  • Better value proposition amid inflation
  • Quick availability that avoids supply-chain delays
  • Higher awareness regarding environmental impacts of choosing pre-owned furnishings

More than four in five (82%) US shoppers purchased home furnishings within the past year, while 87% of those who spent on resale home furnishings last year plan to spend the same or more this year. Plus, 81.3% of respondents said that at the very least, they’re considering buying pre-owned home furnishings in the next year.

“Resale is the sustainable, stylish, and practical way to shop. In short, buying vintage just makes sense and is now mainstream,” Chairish CEO and cofounder Gregg Brockway said in a statement.

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Written by Jeena Sharma and Katishi Maake

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