What: Falabella’s department store chief has reported that the Chilean retailer may close between 5% and 10% of its department stores in Peru, Colombia and Chile.

Why it is important: While the closures have not been finalized, the announcement is part of a constant evaluation of the profitability and changing consumer demands of Falabella.

Falabella may close 10% of stores this year

What: Apple continues its foray into personal finance services with a new savings account opened in partnership with Goldman Sachs.

Why it is important: Credit card programs are not new for retailers, however Apple is becoming a significant challenge as their offering arrives in complement to a whole ecosystem allowing them to track and trace every customer move before, during and after the purchase, which is something most department stores can not do. In addition, they will be increasingly forced to team up with Apple, therefore abandoning access to the data.

Apple has teamed up with Goldman Sachs to propose a no-fee, high-yield saving account for its credit card customers, as a natural follow-up of its 8-years old initiative which started with Apple Pay.

This new saving account will complement the already existing perks of the Apple credit card (1% daily cash rewards), which was launched in 2019 and for now is only available in the US.

Apple financial services are part of the general services unit, which posted a 12% growth last quarter to $19.6bn.

Apple launches a high-yield saving account

What: A similar evolution to that of the customer journey is happening in the workplace as employees now require a personalized experience and benefits packages which address the specific needs of each associate.

Why it is important: NMG’s People team has used advanced analytics to drive a renewed focus on four key pillars of the associate experience: total rewards, flexibility, career development, and ESG.

These focuses have had a notable impact on recruitment and retention, with Bloomberg recently reporting that workers are now willing to trade 5% of their compensation for more flexibility. The business’s remote working culture, known internally as the NMG Way of Working, also encourages associates to integrate life and work to accommodate their professional and personal commitments in a way that prioritizes health and well-being.

Neiman Marcus Group transforms the associate experience

What: Despite inflation, earthquakes, and global tensions, Mexican customers continue to shop amid new store and mall openings.

Why it is important: Following relaxed health restrictions and the end of lockdowns, Mexican consumers have increased their shopping in-store. Malls continue to open at an increased pace with forecasts for 30 new locations by 2025.

El Palacio de Hierro recently opened an opulent location even after having suffered damages from the recent earthquakes one week before opening. They continue to see strong demand like Liverpool and Suburbia.

Boutiques selling men’s tailored fashion on the other hand are struggling as consumers’ buying habits move towards casual looks and international brands. Still, Mexican designer brands such as Benito Santos are performing strongly. Concept stores are also popping up in trendy quarters such as La Roma or in La Juarez, giving a chance to young talent to showcase their work.

Unfortunately, such buoyant sales are unlikely to last as a large portion of the country’s population remains poor or is living in extreme poverty. Inflation in Mexico is running at 8.7%.

Mexican retail booms

What: Travel retail is experiencing strong momentum.

Why it is important: Lagardère Travel Retail (Aelia, Relay, Buy Paris, Duty-Free) saw revenues jump by 77% as tourists began travelling again.

This excludes tourism from China. Revenue soared in non-Asian zones, but the growth remained limited to +6.1% in Asia.

The company generated sales of 2.8 billion euros in the nine-month period against 2 billion euros at Lagardère Publishing, extending the airport retailer’s share of total company revenue and providing more certainty that the airport business has found its feet again.

In France, where Lagardère Travel Retail also has railway station stores, revenue grew by 63% as air and rail traffic rebounded, with both domestic and intra-European journeys increasing. The Americas had slower sales momentum of 33% driven by domestic travel in the United States and a long-awaited recovery in Canada.

This lift means that travel retail is again the star of the show after huge declines during the worst of the Covid-19 pandemic.

Travel retail is back after the pandemic hit hard

What: Frasers Newbridge is the latest investment for the group in its quest to expand across Europe.

Why it is important: Following the opening of Frasers Wolverhampton in 2021, along with renovations of standing locations, the recent opening of the Frasers Newbridge store is the first of three stores planned to open late this year.

The group remains committed to expanding across Europe by creating shopping destinations focused on experience, brands and services.

Frasers debuts signature flagship in the Republic of Ireland

What: The LVMH group’s sales portal, 24S, is set to hold its very first liveshopping session on 2 November called ‘Live Shopping in Paris’.

Why it is important: 24 winter pieces will be presented during the liveshopping session hosted by influencers responsible for presenting the latest trends and explaining different styling possibilities.

After the initial broadcast on 24S.com, the sequence will then be available there for replay. While this initial broadcast is focused on Western consumers and trends, 24S will shoot the following liveshopping episodes with a greater focus on Asian consumers.

24S to begin liveshopping

What: LVMH has signed a three-year contract with Chinese developer Hang Lung Properties that will see the groups working together to reduce energy use and environmental impact.

Why it is important: As part of LVMH’s overall reduction plan, the group aims to measure and track energy consumption at its stores and source 70% of its materials within 300 miles of those stores in partnership with Hong Kong-based real estate developer Hang Lung Properties.

The Chinese developer will cut its energy consumption by 18% by 2025 across its 100 shopping malls.  This follows LVMH’s overall energy reduction plan, which aims to cut consumption by 10% worldwide by October 2023 while China aims for total carbon neutrality in 2060.

LVMH is currently seeking out similar agreements with property groups in the U.S. and Europe.

Duty-free sales soar in Japan following the borders reopening 

What: Marks & Spencer is heavily reviewing its real estate footprint.

Why it is important: Marks & Spencer’s move away away from city centre locations into easier-to-access stores that include bigger plots with free parking will likely reverse the vision of retailers in the UK and US.

Marks & Spencer is halfway through a costly plan to modernise its stores by 2028. The eventual bill will be more than GBP1bn, but the 138-year-old chain insists the strategy is starting to pay off. At a recent investor presentation, M&S cited a 30 % rise in clothing sales and a 75% increase in food since it shut a store in the centre of the Welsh town Llandudno and opened a new one in a retail park.

M&S wants to become a destination for large weekly shops rather than “top-ups” of treats and ready meals. To do that it needs large, open-plan stores with easy access and free parking, and fewer odd-shaped sites in town centres with limited access.

Marks & Spencer seeks out-of-town real estate 

What: Shein launched a resale platform this month to offer American customers the ability to buy and sell their second-hand clothing through the app.

Why it is important: Shein’s move into resale demonstrates its continued pursuit of customer loyalty by reaching them through multiple new touch points and building engagement across channels.

Other fast-fashion resale apps have seen relative promise, with PrettyLittleThing’s second-hand marketplace app recieving more than 100,000 signups within the first weeks of its launch.

Shein joins the resale market

What: Bottega Veneta highlights the durability and craftsmanship of its bags through the launch of an unlimited maintenance service offer.

Why it is important: Customers who purchase iconic bags from Bottega Veneta boutiques will receive a certificate of craftsmanship in the form of a physical card associated with the serial number of the product, thus, providing free access to an unlimited number of refreshments and repairs.

Starting from mid-November, the service will begin with its iconic bags and extend later to all bags and other product categories.

Bottega Veneta launches lifelong warranty service

What: CommerceNext and The Commerce Experience Collective released a poll showing that inventory issues and consumer concerns over inflation will increase the cadence of markdowns.

Why it is important: Retailers are planning to step up the pace of promotions this year due to bloated inventories and consumer concerns over inflation.

After a year of repairing supply chains and staffing up warehouses, retailers are heading into the 2022 holiday season generally optimistic but facing new challenges that include inflation-spurred consumer attitudes and marketing ROI difficulties.

According to the report, 32 of the retail executives polled said they would increase the number of promotions. But markdowns are not the only worry this year. As Web3 rolls out with its cookie-less functions, changes in consumer privacy, which includes the implementation of California’s Privacy Rights Act and other laws, are also causing retailers anxiety.,

An omnichannel strategy will be essential for building customer loyalty that lasts especially in the upcoming competitive holiday season. For example, marketers can use SMS which ensures shoppers have a singular brand experience even as they shop across multiple channels, seamlessly connecting the buying journey.

Holiday promotions are expected as inflation affects consumer spending 

What: There is a traditional season for leadership changes in Korea, however this year a ‘perfect storm’ adds up to the context.

Why it is important: All 3 leading companies are going through some difficulties or challenges, at a moment when the Korean market is buoyant and customers are extremely demanding.

The end of the year is a traditional time for executive reshuffles in Korean department stores management; however, this year there is additional fever at Shinsegae, Lotte and Hyundai.

At Shinsegae, a crisis provoked by its Starbucks Korea subsidiary endangers the current CEO and the whole leadership structure. At Lotte, many CEOs of business units are due to leave in March 2023.

Finally, at Hyundai, a fire at the Daejeon unit last September has already started to provoke an executive reshuffle.

Executive reshuffle season in Korean department stores 

What: Made.com falls victim to post-pandemic optimism.

Why it is important: Made.com’s DTC and digital native advantages were short-lived as consumer habits changed post-covid leading to the brand about to go bankrupt after only going public in June of 2021.

The recent macroeconomic environment has caused freight costs to rise roughly fivefold between 2019 and 2022. Being digitally native at a time when consumers are returning to brick-and-mortar stores has counteracted their initial asset-light, vertically integrated business model.

Its decline is a reminder of the dangers of assuming both that Made.com’s millennial market was exceptional and that high demand during the pandemic was not.

Made.com bursts apart at the seams

What: Walmart announced the beta release of its Walmart Creator platform as it moves into social commerce.

Why it is important: Content creators on Walmart’s Creator platform will be able to make a commission, without limit, on any Walmart product links shared across all social media platforms.

The beta platform provides users with performance data and product recommendations based on their interests. Creators have the possibility to apply for beta access ahead of the holiday season with plans for a full launch of Walmart Creator set in 2023. Creators on the platform can also apply to be a part of upcoming brand campaigns.

The content creation platform follows Walmart’s expanded live-streaming partnership and Roblox virtual world earlier this yet.

Walmart moves towards social commerce with creator platform

What: Nike customers will be able to link their Nike membership to their JD Sports or Zalando accounts to access member-only perks.

Why it is important: The partnership is mutually beneficial as JD Sports and Zalando will be able to offer European shoppers a wider range of products and services while Nike receives greater data on its customer base.

Nike previously tested this concept by partnering with Dick’s Sporting Goods in the US last year which had proven to be an effective way to serve customers and build closer relationships.

As an incentive to participate, shoppers who link their accounts will be notified of new product drops in advance as well as have access to exclusive items and new digital experiences.

Nike integrates digital services with Zalando and JD Sports

What: M&S will close 67 stores over the next five years as the retailer aims to cut operational costs with the potential of fast-tracking closures within three years.

Why it is important: During an investment meeting, the CEO of Marks & Spencer said that the retailer will downsize from 247 stores to 180 ‘full-line’ shops by 2028 to save close to 400-million pounds in overhead.

In addition to addressing operational costs from physical stores, M&S will tackle inefficiencies in its supply chain to maximize flows for its clothing and homeware categories. As well, there are plans to slim down and automate the UK distribution network.

The list of locations that will be closed has yet to be disclosed.

Marks & Spencer to cut cost through 67 store closures

What: John Lewis’ director spoke at the Bloomberg Equality Summit, expressing the highly uncertain outlook for the retailer’s performance for the end of 2022.

Why it is important: The high staff levels and employee-owned structure of the retail group are likely to make soaring inflation more impactful than the Covid-19 pandemic according to the John Lewis Partnership boss.

The cost-of-living crisis has intensely impacted consumer discretionary spending, with the retailer reporting a 99-million-pound loss for the first half of 2022.

John Lewis boss shares concerns on the effects of inflation

What: “Make the Moment” is the theme for Neiman Marcus’ holiday campaign.

Why it is important: Neiman Marcus will also launch a ski category in select stores along with its 360-degree campaign encompassing advertising, in-store visuals, special events, social media, digital content, video, email and the group’s popular Christmas Book catalogue.

The front of the Christmas Book includes augmented reality to place your face on the cover of the catalogue or virtually present the Neiman Marcus Christmas tree in your home or office. It features 260 luxury fashion and accessories brands. The products range from holiday decorations to fantasy gifts in the seven-figure price range. It continues to follow the new positioning of “Live Your Luxury” by taking the traditional Christmas tropes and twisting them in unconventional ways to show greater inclusivity.

Neiman Marcus’ Christmas campaign

What: Changes in corporate management and hiring as well as cost-cutting have supported the evolving digital strategies aimed at regaining relevance and capturing new customers.

Why it is important: The Macy’s Group has been reworking the private brand portfolio, adding additional Bloomies and Market by Macy’s off-mall speciality stores to become less dependent on traditional big box stores.

In the Q2 of 2022 for Macy’s Group brick-and-mortar represented 70% of sales and 30% for digital sales. Expectations for the holiday season are positive according to Macy’s CEO due to a better inventory profile and having 55% of the assortment being new content.

Macy’s CEO shares details on retail transformation

What: Following Asos' share price decline, Frasers Group has increased its stake.

Why it is important: Frasers’ recent investment in Asos makes it the fourth-biggest shareholder in Asos, yet the Group seems more focused on Hugo Boss as it increased its stake to 32.8% of the fashion company’s share.

The 32.8% of Hugo Boss shares owned by Frasers Group are divided into 4.3% direct holding in common stock and 28.5% through the sale of ‘put options’.

Frasers increases investments in Hugo Boss and Asos

Frasers increases investments in Hugo Boss and Asos

What: ‘What Goes Around Comes Around’ (WGACA), a New-York based reseller, is operating an Amazon storefront selling one-of-a-kind vintage luxury bags.

Why it is important: Amazon continues to grasp at the luxury market and further validate its fashion offer through pre-owned luxury.

WGACA has listed Hermès and Chanel bags priced between 20,000 and 12,000 dollars. While LVMH has openly stated its feelings towards Amazon’s business being a bad fit for its brands, reseller companies can open luxury pre-owned stores bringing the products to the platform.

Chanel and Hermès now available on Amazon

What: TikTok is reportedly looking for employees to help in establishing an international fulfilment network with warehousing, customs clearing and supply chain systems that support the US and cross-border e-commerce efforts.

Why it is important: The social media platform is searching for supply chain, logistics and e-commerce managers to develop its service centres, order prediction capabilities and inventory management, with the apparent soon-to-be hub based in Seattle, Washington.

TikTok is also posting other less-senior roles to fill out their logistics, customer service and warehousing teams.

The news comes as TikTok continues to push live-shopping features to US consumers ahead of the holiday season.

TikTok plans US e-commerce fulfilment network

What: Real estate operator Simon Property Group is teaming up with Alibaba for a livestream 11/11 holiday shopping event.

Why it is important: Simon Property Group is expanding from a strict mall operator role into various directions, including the opening of pop-ups during the popular 11/11 Chinese livestreaming event by teaming up with Alibaba.

As part of 11/11, Simon will set up a pop-up studio at Woodbury Common Premium Outlets to livestream the events.

Simon and Shop Premium Outlets (SPO) have partnered with Tmall Global, opening the door for consumers in China to virtually shop SPO’s online inventory as well as buy direct from participating retailers.

The partnership involves SPO providing the back-end technology for Tmall Global to access inventory in real-time.

Simon Property teams up with Alibaba on liveshopping event