EU: Member States adopt a watered-down due diligence directive at the last minute Europe After the texts on CSRD, the EU will complete its regulatory framework on CSR with a directive on the due diligence. Validated by the Member States, the agreement on the text, still streamlined, only needs formal adoption by the Parliament and the Council, expected at the end of April.
Duty-free purchases by Chinese on the rise again worldwide, but especially in Asia Asia After 4 years of fluctuations, a recovery in duty-free sales is picking up again, reaching a rate comparable to pre-Covid-19 levels.…
[Case study] With Getinside, Total Energies tests a new acquisition lever for e-commerce parcels The Wash carwash network (Total Energies) is one of the first companies to have tested an acquisition campaign with Getinside. This digital marketplace treats e-tailers' parcels as monetisable space to meet recruitment strategies. However, the retailer also encountered a drift that left post-campaign tracking with mixed results.
In Shanghai, Apple opens an 8th store and hopes to boost sales in China Asia On March 18, Apple (sales of US$383.3 billion down by 2.8% in the fiscal year to September 2023, net margin of US$97 billion down by 2.8%) opened Apple Jing’an,…
Travel retail in Thailand: Siam Piwat targets wealthy tourists Asia Following an investment of US$28 million in Q4 2023, which should double this year, Thai operator and developer Siam Piwat (turnover of US$1.54 billion in 2023) is negotiating a partnership with 16 airlines companies to promote luxury tourism in Thailand.…
The Home Depot improves efficiency for B2B clients through a dedicated supply chain Americas In 2024, The Home Depot is continuing B2B investments. After acquiring B2B distributors HD Supply Holdings (2020) and Construction Resources (planned for 2024),…
Dollar Tree reevaluates its portfolio and targets higher income consumers Americas On 13 March, discounter Dollar Tree (US$ 30.6 billion turnover in 2023, up 8%) announced closure of 6% of stores (1,000 units out of 16,774).…
IDKids streamlines the store network and will be laying off 14% of staff After closing 44 Catimini stores in 2023, the IDKids group is to cut two banners and lay off 14% of its workforce. According to our sources, one Board member already left the company.
[confidential] After 3 months of a pilot, what are the results of Castorama’s chatbot powered with GenAI? As part of the 1to1Monaco event, Romain Roulleau, Marketing, Digital and Customer Director at Castorama, spoke to mind Retail about the results of the Hello Casto chatbot. He also detailed obstacles to adoption by Internet users.
Philippe Muhr, Intersport: “GenAI at the start of the chatbot funnel, helps us better assess consumer’s needs and boosts conversion” At the 1-to-1 show in Monaco, Philippe Muhr, E-Commerce Director at Intersport, spoke exclusively to mind Retail about his transformation roadmap, and the results of the integration of GenAI into customer relations in partnership with Iadvize. The next step is to integrate AI into vendor’s tools.
[Amazon results] Strong growth and profitability in 2023, thanks to a rebalanced business model After a sharp post-Covid-19 slowdown, Amazon is recovering. In 2023, sales rose by 11.8% in one year, representing US$60.8 billion in additional revenue. After reorganising logistics business and laying off large numbers of staff, the operating profit more than tripled. Net margin now stands at 5.3% of sales.
[Online data] Second-hand goods reaches unprecedented levels in fashion and electronics According to data from both Fox Intelligence and Fevad, the two most buoyant categories online, in 2023, are where second-hand does not exist. In fashion, second-hand accounted for more than 40% of online sales in 2023. In electronics, more than a third of the market has shifted, in value.
[Analyze] The six major challenges facing retail in 2024 A few of the barriers for retail in 2024 include generative AI, retail media, decarbonisation and CSRD, omnichannel efficiency or social commerce. Retail, commercial property and retail tech sectors are all facing new pressures. What they all have in common is the need for efficiency and hyper-agility, against a backdrop of fluctuating demand and financing pressures. The challenge is to generate Ebitda to finance recovery plans (digital transformation and price cuts) and settle residual debt.
Free “77% of retailers want to increase the drive-to-store portion of their advertising investment” By Sandrine Prefaut, Managing Director of S4M in France. Operating in 10 countries (USA, Canada, France, Italy, UK, Switzerland, Benelux, Asia-Pacific region…), S4M is an international “drive to store” platform, expert in generating traffic in physical and digital points of sale.
The Thai example of Central Food Retail. Understanding the elements of online profitability Asia With a turnover of €2.1 billion in 2020, Central Food Retail under Central Retail is the largest supermarket chain in Thailand (more than 1,000 stores). From delivery in less than 25 minutes (known as Quick Commerce), to picking arbitrages and the imminent launch of a subscription offer, E-commerce and Digital Director Julien Tessonneau details his roadmap. Exclusively for Mind Retail.
Free Home electrical products. Why rental sites flourish For electronic devices, circular Economy models that maximizes convenience and minimizes expense for consumers gain traction in Europe.
[confidential] After 3 months of a pilot, what are the results of Castorama’s chatbot powered with GenAI? As part of the 1to1Monaco event, Romain Roulleau, Marketing, Digital and Customer Director at Castorama, spoke to mind Retail about the results of the Hello Casto chatbot. He also detailed obstacles to adoption by Internet users.
Troubled Maisons du Monde relies on Google’s AI to keep e-commerce afloat Europe Maisons du Monde is unveiling a recovery plan, that focused on a new franchising model. Meanwhile, it is taking stock of how to use AI to improve performance, including digital acquisition campaigns and product specification sheets. Constance Fouquet, Executive Director of Digital, IT & B2B, spoke to mind Retail ahead of the 1-to-1 show in Monaco.
[Case study] At Rue du commerce, vendors’ sales up 120% with Qashflo Exclusively for mind Retail, Benjamin Guigue, Offer Director at Rue du Commerce, takes a step back on the implementation and integration of fintech services from Qashflo. In 2 years, these allowed sellers to stabilise an offering and boost sales thanks to renewed cash flow.
[NRF 2024] The new levers of retail media seen at NRF The theme of retail media came to the fore at NRF 2024, with a day of dedicated workshops on 13 January and feedback from a number of players like Kroger, Ulta, and 7/11. Between onsite, offsite and in-store, mind Retail presents the key findings of the event, based on interviews with Christian Raveaux (Rewe), Marissa Jarrat (7/Eleven), Arnaud Lauga (Publicis Commerce), Jérôme Hamrit (Vusion Group), Sucharita Kodali (Forrester) and Tanguy Pincemin (Dunnhumby).
Supply-chain : container prices jump 250% between Asia and Europe Africa, Middle East As a result of the attacks in the Red Sea, the price of containers on Asia-Europe routes is rocketing.
Black Friday 2023: French average online spending up by 15% Although Black Friday for 2023 failed to attract new online shoppers, average online rose by 15% from 2022 in France. Data from Foxintelligence, which tracks the profiles and purchasing behaviour of e-shoppers, highlights the major trends of this event plus the best-performing categories in Europe and France. Beauty and small electrical appliances were the big winners in 2023.
Philippe Muhr, Intersport: “GenAI at the start of the chatbot funnel, helps us better assess consumer’s needs and boosts conversion” At the 1-to-1 show in Monaco, Philippe Muhr, E-Commerce Director at Intersport, spoke exclusively to mind Retail about his transformation roadmap, and the results of the integration of GenAI into customer relations in partnership with Iadvize. The next step is to integrate AI into vendor’s tools.
Jérémie Levy, Converteo: “Generative AI prices are not easy to read or to budget for: we’re dealing with probabilism” Converteo, whose almost 50% of revenue comes from the retail, beauty and luxury sectors, supports retailers in collecting, modelling, measuring and activating data. Jérémie Levy, Managing Director, and Charles Letaillieur, AI Lead and Senior Manager, explain the cost model and budget issues associated with generative AI, and the current trend.
Christel Delberghe, DG Eurocommerce: “With CSRD and sustainability due digilence, we are moving towards discriminatory regimes that disadvantages those who do things well” Christel Delberghe, Managing Director of Eurocommerce, considers regulatory changes in the retail sector in 2024. These include Egalim 3 law and eco-score in fashion in France, but also at a European level, the CSRD, sustainability due digilence and regulation on payment times.
EU: Member States adopt a watered-down due diligence directive at the last minute Europe After the texts on CSRD, the EU will complete its regulatory framework on CSR with a directive on the due diligence. Validated by the Member States, the agreement on the text, still streamlined, only needs formal adoption by the Parliament and the Council, expected at the end of April.
IDKids streamlines the store network and will be laying off 14% of staff After closing 44 Catimini stores in 2023, the IDKids group is to cut two banners and lay off 14% of its workforce. According to our sources, one Board member already left the company.
Free Amandine de Souza, Leboncoin: “We add B2B and aim to become Europe’s leading second-hand retailer” Amandine de Souza, Managing Director of Leboncoin (Adevinta Group), was a guest at the latest FrenchFounders meeting in Paris, attended by mind Retail. She explained a transformation of the second-hand sales site, which aims to integrate a new professional trade offer and become Europe's leading second-hand retailer.
Kiabi to open soon 70 corners in Auchan hypermarkets Kiabi unveiled their strategic roadmap for 2023. This includes expanding products for children and babies, launching the new marketplace in Spain and Italy and massively rolling out “corners” at Auchan hypermarkets.
Free Apparel Group opens first “phygital” fashion store in Dubai Sit comfortably on a couch in front of a giant screen showing brand images like Calvin Klein or Tommy Hilfiger. Select the items you like on the shelves provided.…
Ingka Centres starts construction of a first Indian mall … Ingka Centres, a subsidiary of the Ingka Group (turnover of €37.4 billion in the fiscal year to August 2021 up by 6% year-on-year) started construction of the Gurugram mixed-use complex on 16 August 2022.…
Retail media: One year after launch, Mirakl Ads faces challenges ahead The recent partnership between Mirakl and Havas has put the spotlight once again on the digital marketplaces provider's retail media offering, which combines technology and advertising network. A year after the roll-out, Mirakl Ads now needs to sign up with leading retailers, in a highly competitive market.
[Amazon results] In Q3 2023, Amazon more than tripled net margin on the back of a savings plan and a return to fundamentals After a post-Covid-19 pandemic slowdown, Amazon's net margin more than tripled in Q3 2023. Over the 9 months of the year, growth was driven by the digital marketplace, AWS and advertising - three divisions accounting for 73% of revenue gains. With US$6 billion in additional sales in 9 months, advertising has overtaken e-commerce and is now hot on the heels of AWS in terms of growth contribution.
‘Yes Ad’ zones: in-store traffic takes a hit in Q1 2023 Given exclusive access to the Adot study, mind Retail revealed that in France, only 13% of households in ‘Yes Ad’ zones affixed an “opt-in” sticker to letterboxes at the end of March 2023. As a result, in-store traffic is clearly affected, with a 19% gap at specialist retailers and a 5% gap among food retailers compared with the national averages. All the figures, channel by channel.
[Case study] With Getinside, Total Energies tests a new acquisition lever for e-commerce parcels The Wash carwash network (Total Energies) is one of the first companies to have tested an acquisition campaign with Getinside. This digital marketplace treats e-tailers' parcels as monetisable space to meet recruitment strategies. However, the retailer also encountered a drift that left post-campaign tracking with mixed results.
E-commerce: Omnicom acquires Flywheel Digital for US$835 million On October 30th, the U.S. communications group Omnicom (owner of BBDO, OMD and TBWA) announced a takeover of Flywheel,…
CSR [info mind Retail] Christofle relies on CircularX to accelerate second-hand revenue According to our source, the high-end tableware retailer controlled by the Chalhoub family launched a program in early October 2023 to buy back second-hand products from individuals. Pierre Leurquin, Director of Transformation, explained this shift to scale-up via a profitable model.
EU: Member States adopt a watered-down due diligence directive at the last minute Europe After the texts on CSRD, the EU will complete its regulatory framework on CSR with a directive on the due diligence. Validated by the Member States, the agreement on the text, still streamlined, only needs formal adoption by the Parliament and the Council, expected at the end of April.
Duty-free purchases by Chinese on the rise again worldwide, but especially in Asia Asia After 4 years of fluctuations, a recovery in duty-free sales is picking up again, reaching a rate comparable to pre-Covid-19 levels.…
In Shanghai, Apple opens an 8th store and hopes to boost sales in China Asia On March 18, Apple (sales of US$383.3 billion down by 2.8% in the fiscal year to September 2023, net margin of US$97 billion down by 2.8%) opened Apple Jing’an,…