Scott Benedict’s Post

#Retailers haven’t had it easy in 2023. It’s vital retailers assess the economic trends impacting their specific customers and geographies to maximize revenue as the holiday season and new year approach. https://lnkd.in/eBeqc8cd

This is an excellent article about the current landscape of the #retail environment. Store openings this year are down for the first half and store closings are 4 times higher for the same period, when compared to last year. One additional piece of context that is missing, is the fact that the overall footprint of the retail environment is shrinking and has continued to shrink since 2009, according to CBRE Research. If you take the basic store counts on their surface, it presents a picture of net-positive store growth. The truth is the number of smaller footprint stores, from a square footage perspective, are increasing while the number of larger footprint stores are disappearing. We are losing more department stores and bigger box chains, like Bed Bath and Beyond and are seeing these replaced by smaller retail stores like Dollar General and some European Grocers. The question remains of... What to do with this space?

Beyond the vibrant shopfronts and gleaming merchandise, a chorus of retailers are anxiously watching as Australia’s economic domino effect ripples through their businesses.  #retailindustry #retailinsights #retailing #smallbusiness #bigbusiness

💚 🌱 April's Retail Insights: retail sales grew by 0.26% month-over-month in the latest CNBC/National Retail Federation Retail Monitor, powered by Affinity Solutions. Notably, building and garden supply stores emerged as leaders in growth, with a 4.39% increase month-over-month. Curious how these sectors are thriving while inflation for goods has dropped to nearly zero? Read more to uncover the consumer trends driving the retail market forward. https://lnkd.in/eFiiZxt3 #retailintelligence #consumerspending #inflation #consumerpurchaseinsights

An annual survey finds retailers optimistic about the future despite inflation and pricing concerns https://lnkd.in/ehcMjmhX More than 30% of survey respondents anticipate opening additional store locations in 2024 – the highest figure since 2017. #retail Chain Store Age

Exciting News in the Retail Industry! 🛍️ The UK convenience market is set to reach a staggering £47.1 billion by the end of 2023! 📈 Key Learnings from Lumina Intelligence's Convenience & Wholesale Report shed light on the evolving landscape and changing consumer behaviours: - Cost-Conscious Shoppers have left the market: The increase in costs have swept away cost-conscious shoppers from the convenience market. A significant -8 percentage point drop in penetration, now standing at 56% as of May 2023, reflects this shift. This change is largely attributed to older and less affluent C2DE shoppers who've opted out due to higher prices. - Convenience Multiples: The Pioneers of Growth: Driving this dynamic market growth are convenience multiples, leading the charge with a remarkable 6.8% increase. This surge can be attributed to a dual boost - the return of shoppers to city centres and work locations and a focus on value credentials. - Rise of the New Consumer Demographic: A fascinating trend is the ascendancy of younger and more affluent families. Not only are they securing a larger share of the convenience market, but they're also driving up both basket size and overall spend. This shift promises new opportunities and strategies for retailers to tailor their offerings to this growing demographic. 📚 The Lumina Intelligence's Convenience & Wholesale Report offers a wealth of insights into the changing tides of the retail landscape. As the convenience market continues to transform, adapting to these shifts is key for industry players aiming to thrive in this fast-paced environment. Feel free to drop me a message or check out our report sample slides here: https://lnkd.in/eD7shx7b #RetailIndustry #ConsumerTrends #MarketGrowth #RetailTransformation #LuminaIntelligence #ConvenienceMarket #UKRetail

In 2023 retail sales volumes fell for the second consecutive year after interest rate rises squeezed household budgets. Private equity and trade buyers remained cautious, but some opportunistic deals crossed the line. It’s likely that spending patterns will be more regular this year, even if disposable income doesn’t increase, giving retailers more clarity on the outlook. Read our winter 2023 retail M&A review: https://lnkd.in/eKpDYQNt  

Low consumer confidence is creating a gap in the U.K. retail sector, with luxury and discretionary retailers struggling while grocers like Tesco continue to thrive. Check my latest report for the The Wall Street Journal

Retail and QSR chains saw the slowest store expansions in five years, with a 9% growth rate last fiscal, indicating reduced demand for discretionary and lifestyle products. Read more at: https://ow.ly/9pC550S1xLw #Retail | #QSR | #Expansion | #Demand | #Growth | #Fiscal | #TPCI

In 2023 retail sales volumes fell for the second consecutive year after interest rate rises squeezed household budgets. Private equity and trade buyers remained cautious, but some opportunistic deals crossed the line. It’s likely that spending patterns will be more regular this year, even if disposable income doesn’t increase, giving retailers more clarity on the outlook. Read our winter 2023 retail M&A review: #retail