Once every three 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, Emilie Ramon, Albane Rouaix, Léa Korenian - Consultants in Retail / CPG / Luxury
China's luxury second-hand market explodes thanks to Millennials. Chinese companies have seen an increase in sales in 2020: indeed the closure of physical stores as well as economic difficulties have allowed second-hand platforms such as Plume to gain 25% more sales per month in the first half of the year. In spite of that, chinese consumers are one of the most reticent populations in the luxury second-hand market. According to a joint report by the China University of International Trade and Economics and Isheyipai, the resale of luxury goods represents only 5% of the Chinese luxury market, compared to 28% in Japan and 31% in the United States. However, young women in medium-sized Chinese cities are increasingly attracted to these platforms. The millennials, more concerned about the environment, represents a real source of growth for these platforms since the report estimates that 52% of second-hand luxury goods consumers in China are under 30 years old. The proof, more and more Chinese influencers are promoting second-hand purchases.
Fashion network - 2020/10/19 - More details
More and more brands are actively investing in their multi-channel strategy. This is notably the case for the leader in the furniture sector, IKEA, which has invested €250 million in France over the next two years to create a true phygital experience for its customers. Indeed, IKEA's online sales figures have exploded in recent years : E-commerce now represents more than 15% of its turnover. The brand recorded a 44% increase in online sales (414 million euros excluding services), a figure that has quadrupled in three years.Ikea therefore seeks to develop more and more unified commerce services: delivery (zero emission everywhere in France), click and collect, remote kitchen planning or storage service, interior design coaching by videoconference, "Seconde vie" second-hand furniture trade-in service...
In order to make the customer experience in store more fluid and pleasant, Ikea is currently working on a Shop and Go payment service that will be deployed in 2020 as well as on a product geolocation system using augmented reality to guide the customer to facilitate in-store location.
Ecommerce mag - 2020/10/15 - More details
Latest global announcements
Zalando announced on Friday, October 16, 2020 that it has acquired Fision AG, a Swiss start-up specialized in smartphone body scanners. The technology developed by Fision will allow Zalando to improve the customer experience on its site. Today, the German group relies on purchase and returns history to provide valuable advice on half of all items ordered. Once Fusion technology is integrated into Zalando's site, customers will be able to generate accurate body measurements that they can use to receive sizing advice and purchase items they have virtually tried on beforehand.
Tech.eu - 2020/10/16 - More details
At the time of the new lockdown, Carrefour announced that it is going to implement several actions to facilitate shopping in this period, with general measures (price freeze), but also services such as ordering by WhatsApp or facilities offered to fragile customers. Starting Monday, November 2, Market stores will be testing the order via the WhatsApp email application (06 72 58 58 41). It should allow vulnerable people to order five categories of baskets per message.
LSA Conso - 2020/10/30 - More details
Fashion retailer GAP has announced the possible closure of its 120 shops in Europe, 21 of which are in France. Tough news for the clothing sector and the economic situation in Europe. Although the decline in apparel sales began some fifteen years ago in Europe, the covid has precipitated the fall of these brands which have not had to reinvent themselves and meet consumer expectations: strong style, commitment and sustainability of the offer.
Huffingtonpost - 2020/10/21 - More details
The buzz of the moment
Luxury brand Dior is promoting the launch of its B27 sneaker with an augmented reality (AR) experience powered by Snapchat. Snapchatters are able to ‘try-on’ six pairs of sneakers from the collection in AR and see how Dior’s latest footwear will look on their feet. If the user is happy with the look, and willing to be the premium price, they can do so via the Dior brand profile and on Dior.com.
Fashion United - 2020/10/30 - More details
Please share with us your favorite articles to be featured in the next edition of our Press Review: email@example.com