May (#1)

Once every two weeks, our team gathers a selection of the latest news about Retail, CPG & Luxury. 
Discover below the articles that have held our attention!

The Press Review Team: Gayané Bakaloglou, Anne-Claude Bédry, Constance Henry, Emilie Ramon, Maxime Ramos, Albane Rouaix - Consultants in Retail / CPG / Luxury

Top News

What will the after-covid world will look like in terms of consumption? That is what a study made by l' "Observatoire Cetelem" and the "L'echangeur BNP Paribas Personal Finance" tried to answer.
Four scenarios have been found:
- The stars systems: the brand that were not doing well increased this aspect and the others went stronger
- The Life Central: customers are less resiliant to be watched out by either the governements or the companies.
- The Made Locally: this crisis was marked by the increasing need of consumer to consume locally. Also the local commerce have found many ways to use technology to reach potential consumers nearby.
- Earth in Progress: the collective interrest has come back in the middle of people and company concerns 

Influencia - 2020/04/22 - More details

Notable trends in the sector

During the Vogue Global Conversations 2020 that virtually took place this week, 3 main characters of the retail industry: Pete Nordstrom, Pierre-Yves Roussel and Vittorio Radice talked about the future of the luxury physical stores after the closing of all the stores because of the current pandemic. They agreed on the fact that no choix was to be made between physical stores and online platforms. Online and offline approaches have to work together to to offer what the customers are looking for. An unique service needs to be proposed on each channel to be sure not to cannibalize your own offer. We need to get rid of the traditional ratio: sale volume/square meters to focus on the value of the customer relation and the ability to offer a unique experience. This crisis is seen as a way to evolve to meet customers' expectations.

Vogue - 2020/04/17 - More details

The lockdown of most of fashion retail stores in Western countries, due to Covid crisis, impacts suppliers all over the world and specifically in Bengladesh, which employs four milions workers in its factories. Economic consequences could be huge if retailers were to cancelling their orders, that is why Bengladesh commercing Minister is asking for help.

Fashionunited - 2020/04/28 - More details

How to manage stock surplus? That is one of the main questions fashion retailers are facing. Indeed, their products are mostly seasonal and won't be able to be sold after the dedicated season. Sales or circular economy may be the answers.

Fashionunited - 2020/04/21 - More details

Latest global announcements

Those past weeks, home office became widespread all over the world as quarantine was established. Therefore, Alibaba announced a massive investment of 28 billion dollars in its cloud services in order to better serve companies which uses Alibaba's Cloud to host their remote activities.

Reuters - 2020/04/20 - More details

As quarantine stopped in Wuhan at the beginning of last month, little by little, life is starting over including in airports. Thus, Lagardère announced the reopening of its stores in Wuhan airport as a message of hope and optimism. Nonetheless, so far, activity expectations were not met. 

Inside Retail Asia - 2020/04/16 - More details

Quarantine might be deadly for some retailers. Last week, Gap Inc. - which was already suffering from difficulties before Covid-19 - announced some of its stores would never reopen. It is the first major retailer to have made such an annoucement but unfortunately, it may not be the last...

Retail Dive - 2020/04/23 - More details

Meanwhile in France

Not all retailers are suffering from the covid-19 pandemic. As announced this week by Alexandre Bompard, CEO of Carrefour, the company's turnover has increased during the first quarter of 2020, reaching 19.45 billion euros. The direction of the group is hoping to keep this track after the confinement, since the customers will tend to go to the supermarkets nearby. Also the CEO thinks that the purchasing power of customers will certainly decrease in the near future, that will lead to the come back to big supermarkets. 

Les Echos - 2020/04/28 - More details

As local farmers markets were closed for health reasons, the French grocery chain Super U hosts farmers in their stores so that their activity remains and that they can keep on reaching their customers.

Twitter Super U - 2020/04/22 - More details

 

Please share with us your favorite articles to be featured in the next edition of our Press Review: presse_retail@bearingpoint.com

 

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