What: With improved Augmented Reality and in-person shopping returning, retailers are rethinking their approach to smart mirrors.

Why it is important: AR mirrors have the potential to improve a multitude of challenges in physical retail as well as build engagement, inform purchase decisions, and be a welcome tool in building experiential retail.

A decade ago, smart mirrors were considered a key to the “Retail 3.0” revolution, however, the technology failed to take off.

With better technology and more openness from consumers, brands and retailers are now looking at smart mirrors again.

In new versions, digital content overlays reflections and can include anything from digital apparel and accessories to product details. The technology can track the body as well as detect and respond to specific movements, such as swiping the hand to change an outfit.

Many brands have already begun testing smart mirrors such as Nike, Men’s Warehouse, Tommy Hilfiger, Coach, and Mugler. Each brand has used the technology in unique and engaging ways from digital try-ons to games.

As an estimated 65% of apparel, footwear, and accessories purchases are made in-store and many potential challenges in physical shopping could be solved with an AR mirror.

Some of these solutions include the hesitation among consumers to physically try everything on, the opportunity to narrow product selections, increase product discovery, and visualize additional items that are out of stock. AR mirrors can also attract attention and increase time in store, which has been shown to increase basket size.

While only 12.4% of US adults are currently using AR for shopping, it is expected that AR will have 21.1 million more US users than VR and the gap will continue to widen.

However, challenges remain as the technology still isn’t able to accurately reflect size and fit in a way that can completely replace the fitting room. Therefore, the purpose for AR mirrors in fashion might be fun and to provide an experience.

This is why many brands are choosing to focus on affinity and engagement. For example, Nike’s gamified AR mirror experience to score store discounts was moved to the front of the store, which increased foot traffic. Another example is creating experiences that are otherwise impossible such as Mugler animating its fragrance with a special digital effect or Coach enabling passersby to its store window to try on its popular Tabby bag.

Retailers have the option to buy the technology outright at more than USD 100,000 or rent by the month which can be tens of thousands of dollars.

More features are also being introduced such as CRM integration, item suggestions, an option for customers to print out instant photos, and uploading a fuller catalogue of inventory.

Smart mirrors are getting a second look from fashion

What: A Kiwi store chain considers closing down in spite of faring better than expected after the Covid-19 Pandemic.

Why it is important: Investments needed in the flagship store to comply with security norms are too high for the company, which prefers shutting its doors instead.

New Zealand department store chain H&J Smith has announced plans to close its flagship store in Invercargill, along with stores in Gore and Queenstown, due to systemic changes in the retail sector that make it difficult for independent retailers to operate.

The company, which operates in a much smaller region than other independent department store brands (Ballantynes and Smith & Caughey), has already reduced its retail footprint since 2020.

Despite a better than expected recovery from the Covid-19 pandemic, the company faces challenges in procuring stock and establishing a sustainable growth model. The 12,000-sqm-wide flagship Invercargill store also requires significant investment for earthquake strengthening.

The company's proposal is open for consultation for four weeks, with a final decision due by June 23. Online trading is set to stop on July 1, and the last general trading day is scheduled for November 18.

New Zealand chain H&J Smith considers closing down activities 

What: The Chilean company revealed that its Q1 profit reached USD 192 million, a 23.5% drop compared to the same period in 2022.

Why it is important: Despite the challenging macroeconomic environment in South America and slowdown in consumption, Cencosud maintained double-digit revenue.

The decrease in profit was a result of an increase in financial expenses, mainly attributed to the company’s acquisitions of The Fresh Market and GIGA Atacado as well as the negative impacts of exchange fluctuations in the region.

Cencosud recorded a 17.9% increase in revenue and closed the period with 161 million tickets which represented a 18.1% increase. The retailer also saw online revenues increase 7.4% with online sales totaling USD 380 million and online tickets amounting to 5.5 million.

The CEO of Cencosud stated that the company will continue to promote its efficiency measures and  omnichannel as a complement to its physical stores as it navigates the challenging macroeconomic environment in the region.

Cencosud sees its profits fall by more than 20%

What: Kohl’s will be focusing more on beauty, dressed up casual apparel, and gifts and pets as part of its turnaround efforts under its new CEO.

Why it is important: The retailer’s turnaround strategy is showing some progress in stabilizing the business as its bottom line stayed flat for Q1.

Net income for the quarter was USD 14 million compared to USD 14 million last year while sales decreased 3.3% to USD 3.36 billion from 3.47 billion.

Kohl’s new CEO stated that first quarter results were in line with the company’s expectations as they work towards driving sales and earnings performance over the long term.

The retailer saw a 6% reduction in inventory and its stores achieved productivity gains while Sephora at Kohl’s also continued its sales momentum

Kohl’s is making progress towards its 2023 key priorities which include enhancing customer experience, simplifying value strategies, managing inventory and expenses with discipline, and strengthening its balance sheet.

Investors were pleased with the results, as the stock price increased 7.45% to close at USD 20.72.

Beauty sales increased 150% year over year and the retailer plans on expanding Sephora to more than 900 stores by the end of the year.

Kohl’s is focusing on rebuilding its core business and growing underrepresented categories such as gifting, pet, décor, impulse, and outdoor.

In the apparel category, the retailer is adding dressier casual clothing for women and more suits and dress shirts for men.

The children’s category outperformed the company average with positive growth in active and dress clothing; similarly to men’s and women’s the retailer plans to also add more dressier options.

As for improving the shopping experience, Kohl’s is consolidating checkouts to one central location, adding self-checkout in 250 stores, and simplifying its graphics and signage for better navigation.

Kohl’s has opened two stores this year, with five more planned including one relocation.

The turnaround efforts by Kingsbury and the retailer’s new chief merchandising and digital officer are expected to be felt more in the later half of this year.

Kohl’s Corp. sees beauty, ‘dressy’ casual clothes among keys to driving turnaround

What: In November 2022, the Inditex group launched Zara Pre-Owned, a second-hand platform, in the UK, offering customers the opportunity to give new life to their garments through repair, donation, or peer-to-peer sales. The company is now focused on expanding the platform to France and Germany, and later in Spain.

Why it is important: This peer-to-peer fashion resale platform focuses exclusively on items from the Zara brand, enabling direct connections between consumers. In addition to Vinted platform, many textile companies have made their own foray into the second-hand fashion market. Kiabi and Carrefour have dedicated corners in some of their stores for second-hand items, while Veepee also launched a program in Spain for the collection and resale of articles, just to name a few.

Zara's second-hand platform to open in France, Germany and Spain in 2023

What: Key learnings from Q1 earnings reports.

Why it is important: Among other elements, the level of theft described by Target is surprising, at $500mn+, while Walmart did not comment on the subject, suggesting that the rising cost of life is forcing customers into stealing products, taking a toll on retailers’ profitability and forcing them to use new methods to prevent this.

Walmart and Target, both major US retailers, reported their Q1 earnings, revealing a mixed bag and anticipating a challenging Q2 due to a slowdown in consumer spending. Walmart beat expectations in Q1 while Target fell short, but both noted a weaker consumer outlook. Still, Walmart expects improvements in H2 and raised its full-year guidance, while Target reaffirmed its guidance.

Walmart had a strong Q1, beating expectations across most metrics, with revenue growing 7.6% YoY. Despite a softer performance, Target also surpassed earnings per share (EPS) expectations. However, both retailers expect a weak Q2, with Walmart's EPS guidance coming in below expectations and Target facing "clear headwinds" in the short term.

eCommerce sales were a highlight for Walmart, growing by 27% YoY, driven by Pickup & Delivery. Target saw a decline in digital sales, but in-store sales growth outpaced digital, driven by same-day services.

Target identified retail theft as a substantial challenge, which is expected to impact FY profitability by over $500 million. On the other hand, Walmart was more muted about the issue, though they acknowledged the challenge across the retail industry.

Consumer behavior also showed signs of change due to macro uncertainty. Both companies reported that consumers are spending less on discretionary items and shifting towards necessities, such as grocery and health & wellness. Despite the shift, both retailers noted market share gains in grocery.

Walmart and Target both highlighted their membership programs, with Walmart+ and Target Circle members spending significantly more than non-members. Walmart also provided updates on its advertising and international business, reporting global ad business growth accelerating quarter over quarter.

Walmart & Target anticipate a tough Q2 

What: The British beauty retailer is hoping to capture a bigger share of the market through experiential stores and viral brands.

Why it is important: Space NK has seen success with its larger format stores despite intense competition in the UK beauty market.

The British beauty market is known for being difficult to crack with intense competition between department stores, digital mainstays, and drug stores.

UK beauty sales reached GBP 12.9 billion in 2022 according to Euromonitor International. As a result, Space NK is levelling up its brick-and-mortar presence and adding new trending brands to its offering.

Their approach may be paying off, as they saw sales increase 24% and revenue increase from GBP 119.1 million to GBP 142 million. Its in-store sales also rose 31% year-over-year and online sales grew 16% year-over-year while active customers also increased 33% to over 1 million.

Space NK currently operates 73 storefronts across the UK and Ireland, with five locations opening in the past year and two more planned to open this year.

In the past, the brand operated small neighborhood shops that were less than 800 square feet on average. However, the company shifted gears last year and added two large-format stores, both spanning over 2,000 square feet and featuring lounges, treatment rooms, trial spots, and areas for consultations.

At its upsized Westfield location, which is in the same shopping centre as Sephora’s new location, the company saw sales triple. Following its success, Space NK will be opening two more larger format stores and sees the bigger scale stores as the future of the business.

Opening new stores also helps the retailer’s online business, as they have seen an uptick in digital sales in the area.

The company is focused on growth and having a healthy delivery to the bottom line, which they are doing through brand building. Brand founders are attracted to the retailer because of its significant distribution network, local marketing expertise, and price positioning.

Space NK bets on experiential stores, viral brands for growth 

What: The department store has launched a stock-exchange style space that allows customers to value and exchange pre-owned items and get them repaired or upcycled.

Why it is important: The initiative demonstrates Selfridges’ commitment to retailtainment and its net-zero carbon emissions goal as it continues to provide unique experiences for its customers.

The Stock Market will run until June 10 at the department store’s key Corner Shop in its Oxford Street, London flagship.

The initiative is part of its Worn Again event which includes circular shopping experiences at three locations.

The space imitates financial stock exchanges, with data-filled trading screens, stock-exchange-style rotundas, and stockbrokers who are there to assist customers.

Customers are encouraged to discover the value of their clothes and accessories by adding value to their existing investments through repairs or upcycling or selling them for Selfridges credit instead of buying new.

Brands will also be taking part in the Stock Market providing a variety of services and a wide assortment of secondhand products. SOJO is a repair specialist where customers can drop off their items for tailoring and repair needs. At Sneakers ER’s booth, customers can have their shoes valued and sell them for store credit and have their shoes cleaned or repaired. Vintage Threads offers authentication services as well as upcycling and dyeing. Visitors can also shop for luxury bag resale, and have their bags authenticated or restored at The Handbag Clinic.

Selfridges unveils Stock Market in Corner Shop to boost experiential circularity

What: John Lewis Partnership has appointed Nicky Dulieu as Non-Executive Director to its board, where she will chair the Audit and Risk Committee.

Why it is important: Dulieu is expected to bring her extensive experience in financial roles at M&S, as well as her successful track record at Hobbs to the partnership's growth plan.

Ex-Hobbs chief becomes non-exec at John Lewis

What: Luxury goods stocks have taken a hit over fears of a softening US economy hitting demand.

Why it is important: Slowing growth in the US is a growing concern for the sector despite luxury stocks outperforming by a large margin this year.

Shares in Hermès International slumped 5.5%, while LVMH saw a decrease around 4% and Kering dropped around 2%.

While the luxury sector has become a collection of dominant businesses whose growth has held up even as the economy fluctuates, confidence in that view is now decreasing as aspirational US consumers decrease their spending.

The rebound in China has been among the key drivers of strong sales in the sector, however investors are expected to be picky moving forward as the US is expected to suffer an economic slump later this year.

Luxury stocks are still outperforming by a large margin this year, with LVMH seeing a 25% increase and Hermès increasing 34%.LVMH became the first European company to reach a market value of USD 500 billion and also saw its shares hit a record after reporting a surge in sales.

However, early warning signs are starting to emerge as LVMH has seen a slowdown in US growth and Burberry has reported that demand for sneakers and entry-level products is softening among younger Americans.

Luxury Stocks lose USD 30 billion in one day on demand fears

What: The Chinese hard discounter is doing extremely well and expanding fast.

Why it is important:  Expansion is taking place in every country of the world.

Chinese discount variety store Miniso reported a 26.2% year-on-year increase in revenue to $430.2 million, driven by a retail rebound in China and overseas expansion. The company's adjusted EBITDA rose by 164.3% year on year to USD 102.9 million. During the same period, Miniso opened 74 new stores, expanding its network to 5,514 stores as of March 31.

The group plans to further expand into Panama, Angola, Trinidad and Tobago, and Latvia. Miniso's CEO, Guofy Ye, attributed the strong performance to increased foot traffic and transaction value in domestic stores and successful efforts to optimize product design and selection in overseas markets.

Miniso posts double-digit growth thanks to overseas performance 

What: Several members of the Partnership’s council have requested that this week’s vote of confidence in White’s leadership take place in secret.

Why it is important: White has been under pressure as the retail group’s latest results showed a GBP 234 million loss and her plan to sell a minority stake in the business would dilute its partnership model.

In the past, secret votes have resulted in significant rebellions which would pile further pressure on White.

The vote takes place twice a year and will follow a meeting in which White and her senior executives will answer questions from the council about its performance.

According to a spokeswoman, councilors have requested a secret ballot as they didn’t want their names to appear in the media. However, recent letters from staff have shown their discontent in White’s leadership.

John Lewis chair White could face secret vote of confidence

What: Flannels has launched the Heat Ignite Prize to support young digital-first entrepreneurs aged 18-25 in the UK to apply with either a business idea or an existing business in its early stages in the categories of fashion, innovation, and circularity.

Why it is important: The Heat Ignite Prize provides platform for young entrepreneurs to showcase their digital-first business ideas and receive financial support, mentoring, and visibility.

Three winning businesses representing each category will be awarded a GBP 10,000 grant and a year of mentoring.

The prize is part of the Youth-Phoria programme, which champions the “excellence and ambition of a new generation through a series of initiatives and cultural events”. It is also an opportunity for Flannels to invest in and support promising young entrepreneurs who can bring fresh ideas and innovation to the fashion industry.

Flannels backs Heat young entrepreneurs prize

What: On Coronation Day, footfall across UK retail destinations was 20.6% lower than the previous Saturday.

Why it is important: The impact of the Coronation on retail footfall was worse than expected, proving that city center events can cause disruptions in operations

In Central London, the increase in visitors coming to the city resulted in a lower drop in footfall, with a 9.3% decrease between the time of the parade and ceremony. Visitor traffic was on par with the week before and non-retail traffic saw an increase of 8.5%.

In London’s Knightsbridge, footfall rose by 57.7% compared to the prior week. Other high streets and towns in the UK also saw an increase such as King Edward Street in Hull and New George Street in Plymouth.

Across all UK retail destinations, total figures showed a 13.2% decrease compared to the same day last year, with Central London seeing an 11.3% increase. Additionally, when the parade and event were taking place, Central London saw an increase of 21.5% in retail areas and a 46.4% increase in non-retail areas.

The figures demonstrate that while large city center events may bring in more visitors, they can result in disruptions in operations and Paris during the 2024 Olympics will be no exception.

Coronation dents retail footfall but Knightsbridge gets massive bonus

What: The department store is laying out its game plan as it looks to make a comeback under new ownership and management.

Why it is important: The retailer is looking to attract younger customers through new strategies, while also maintaining its older, traditional and working-class family appeal as it is in the strongest position it has been in for many years.

In 2020, Penney’s was purchased for USD 800 million by Simon and Brookfield Property Partners who have since lifted the business out of bankruptcy and has cleaned up the balance sheet.

The retailer is looking target customers ranging from 20 to 40 years through a variety of new strategies. One being the rollout of JCP Beauty departments to all of its stores following the exit of Sephora.

Penney’s is also looking to create a more modern and fashionable image through advancing its private label programs, adding new labels, and pursuing more collaborations with designers and celebrities.

Additionally, the department store is looking to continue growing its digital sales, securing a bigger niche in dress-up categories, directing a significant amount of its budget towards centralized POS checkouts, and utilizing a portion of its budget improve stores.

While the number of stores is expected to remain stable between 650 and 700, Penney’s CEO stated that they may be closing some stores, relocating to better sites, and opening new stores in certain markets.

For the first time in five years, the retailer saw an increase in foot traffic and customer frequency which the retailer attributed mainly to its assortment. In 2022, the company’s EBITDA exceeded USD 500 million and liquidity stood at USD 1.6 billion.

Where JCPenney’s is placing its bets

What: The department store announced the opening of its experiential store in collaboration with the local sporting goods company, Tennis Metro.

Why it is important: The store will feature experiential elements, including an actual tennis court which is the first of its kind in the industry.

Occupying 500 square meters, the store will carry major tennis-related brands including Nike, Wilson, and Babolat and also include a variety of tennis gear and clothing.

Customers will be able to try out the products and even take lessons from professionals at the tennis court.

Lotte Department Store to open tennis experience store

What: Cencosud’s chains, Paris and Jumbo, won first place in the “Praxis Xperience Index 2023” for delivering the best shopping experience to its customers in the Chilean market.

Why it is important: Paris was the first brand to be recognized in the department stores category of the Index.

Jumbo, the conglomerate’s supermarket chain, was ranked third place in the overall ranking and received the highest ranking for excellent experiences for the fourth time.

The conglomerate’s department store chain, Paris, marked a milestone by being the first brand to be recognized in the department stores category.

The Praxis Xperience Index is the only ranking in Chile that measures customer experience, gathering the opinions of more than 50,000 people.

Jumbo and Paris from Cencosud stand out for their shopping experience in Chile

What: The value of retail purchases rose 0.4% and sales increased 0.6% in April.

Why it is important: The results suggest that consumer spending is holding up despite inflation and high borrowing costs

While the overall figure was below economists’ estimates, the advance in sales was higher than expected.

Seven out of 13 retail categories saw an increase, including general merchandise outlets and online merchants.

Economists at Wells Fargo stated that the sturdy job market and steady income gains are supporting consumption. However, American consumers are starting to spend more on services and there are signs that consumers are overextending themselves.

Sporting goods and hobby stores, furniture retailers, as well as appliance and electronic outlets saw a decrease in sales.

Retailers are expected to see a tough year ahead as the report suggests that consumers are starting to become more discerning with their spending as the economy slows towards a recession.

US retail sales increase in sign of steady consumer spending

What: Amazon is increasingly trying to cancel the notion of free delivery due to logistical costs.

Why it is important: This is a blessing in disguise for other retailers as Amazon has been the one disrupter forcing the rest of the market to propose free delivery as a norm. The fact that it changes its strategy might allow other retailers to finally find the adequate solutions to make e-commerce profitable.

In the US, Amazon.com is offering customers USD 10 (about EUR 9) to pick up their orders instead of opting for home delivery. This move aligns with other retailers aiming to reduce delivery and return costs amid a challenging consumer demand slowdown.

Amazon has emailed numerous Prime subscribers, offering them USD 10 to collect their orders of USD 25 (EUR 23) or more from designated pickup points, such as Whole Foods, Amazon Fresh, or Kohl's stores. Increasing the use of Amazon pickup points could help the company avoid costly parcel deliveries and reduce delivery costs. It also trains consumers to make returns directly to the company. Amazon has started charging some customers USD 1 (EUR 0.91) fees if they return parcels through UPS pickup points when an Amazon collection or return centre is closer to their delivery address.

Amazon has taken various measures to reduce delivery costs across the company after years of promoting quick and free deliveries and returns.

Amazon subsidizes customers who accept to pick up orders instead of receiving them at home (French)

What: Macy’s will open five more off-mall formats as its closes more of its giant mall anchors this year.

Why it is important: In a pivotal time for the retailer’s expansion strategy, its 10 off-mall stores have outperformed the rest of the company.

The department store group is focusing on off-mall expansion with mini-versions of its stores, Market by Macy’s and Bloomie’s, which are about one-fifth of the size of the retailer’s typical stores.

The company is targeting customers in fast-growing suburbs and busy shopping centers as it exits dying malls. The new and smaller stores feature a smaller assortment of popular brands with displays that change frequently to stay on-trend.

At the end of this year, the retailer will finish the test and learn phase of the stores and decide on expansion plans. For now, the CEO states that the size and locations are working and the retailer is hopeful to be able to scale the concept more aggressively in 2024.

The off-mall stores have performed better than the rest of the company, with comparable sales at the stores that have been open over a year grew 8% and 12% in the holiday quarter compared to a decline of 3.3% at Macy’s and 0.6% growth at Bloomingdale’s.

The new store formats have also drawn in younger and more diverse consumers, some of which are first time shoppers.

So far this year, Macy’s shares have dropped almost 26%, underperforming the nearly 7% rise of the S&P 500 and the roughly flat year-to-date performance of the retail-focused XRT.

In 2020, the retailer announced plans to close 125 stores over three years and lay off about 2,000 corporate employees. Currently, 80 Macy’s locations have been closed and the retailer has plans to close five more this year.

The off-mall shops have worked best so far in shopping centers with grocery anchors or stores such as off-mall retailers that draw traffic.

The retailer has found that shoppers at Market by Macy’s tend to be shopping for gifts or occasions and skew a little more towards men than other locations.

Bloomie’s stores have performed well in shopping centers with popular and higher-end retailers. The smaller format has been a way for the retailer to reach new markets and even features a restaurant concept and concierge-like service desk.

While these smaller off-mall formats look to be an opportunity for the retailer, challenges will still linger for the company as discretionary spending is expected to remain under pressure in the US and net sales are expected to decline by 1% to 3% in 2023.

Macy’s opens more strip mall stores as expansion strategy faces pivotal test 

What: The retailer is introducing more than 800 self-checkout tills and furthering developments to scan and pay as it looks to cut costs and make stores more efficient.

Why it is important: M&S has saved GBP 150 million in costs this year by investing in technology to increase retail efficiency.

The retailer is looking to cut costs by more than GBP 400 million over the next five years with many store initiatives including rolling out hundreds more self-service tills.

While around 70% of food sales at some stores are made through self-service checkouts or the retailer’s mobile app, M&S may face some challenges as evidence has shown that shoppers still prefer using traditional checkouts.

M&S stated that it’s monitoring customer reaction and feedback to self-checkout and stressed that traditional checkouts will still be available.

M&S to press ahead with self-service till rollout

What:  SM store muscles up its omnichannel and fulfilment capabilities with a new Distributed Order management system

Why it is important: the Philippines is a specific market but due its specificities in terms of customer behaviour, it could be very well an interesting example for other retailers in terms of approach to omnichannel business.

SM Retail, the largest retail chain in the Philippines, has launched its new Distributed Order Management System (DOM) with the help of Fluent Commerce, a cloud-distributed Order Management System (OMS), and Merkle, Dentsu’s customer experience company. This new system is designed to improve the customer shopping experience and streamline operations across SM Retail's network of stores.

The Fluent Order Management system has been deployed with the potential to be used by more than 50 brands nationwide, starting with ShopSM. The new system introduces features like click-and-collect and home delivery, providing customers with more convenient shopping, pickup, and delivery options. It also gives SM Retail a unified view of inventory, improving efficiency in managing stock in both stores and warehouses.

A significant benefit of the new system is its flexibility, allowing customers to pay online and pick up in-store, or vice versa. This adaptability caters to the changing needs and preferences of shoppers. The system also includes a dynamic logic to handle unique logistical challenges, such as sourcing and routing items from different locations during emergencies. This feature will be particularly useful in the Philippines, which frequently experiences adverse weather conditions, like earthquakes and typhoons.

SM Retail’s new system will enable it to seamlessly connect its online and in-store channels, offering its customers unprecedented flexibility in payments and fulfillment.

SM Stores revamps its Distributed Order Management System

What: A recent report has identified new payment consumer behavior trends for the next five to seven years.

Why it is important: Businesses need to adapt to the changing needs of consumers as they become more conscious of their consumerism, value new currencies and expect heightened experiences.

The report by Mastercard Signals focuses on three major trends: reimagining money, creating intelligent experiences, and sustainable futures.

Consumers are valuing new currencies and shifting towards the usage of non-traditional assets such as cryptocurrency, digital goods, and loyalty points. Because there are issues when these exchanges are made between the physical and digital world, programmable payments and new types of tokens such as stocks and digital assets could be solutions for the future.

The report also cites connected finance as a way to create more personalized and tailored consumer experiences. Customers are using third-party financial institutions for new banking and payment solutions such as Klarna (buy now, pay later). In the future, borderless payment rails will also create intelligent experiences as they look to solve the cash flow and commerce issue of exchanging goods, services and data across geographic borders.

Societal and environmental issues will impact companies as conscious consumerism becomes increasingly popular. The implementation of environmental, social, and governance strategies will be key as consumers expect brands to change alongside them and vote with their wallets.

The future of payment: upcoming trends

What: El Puerto de Liverpool’s 2 day or less delivery service accelerated to 35% in the first quarter in comparison to the previous year.

Why it is important: The Mexican department store group continues to see advances in its digital channel with figures that reflect the progress in its omnichannel approach.

Its Click & Collect option also saw an increase of 4% in comparison to 2022’s first quarter, reaching 36% of digital sales in Q1.

Liverpool Pocket, the retailer’s app, registered 16% more downloads than in Q1 of 2022, reaching an increase of almost 27% in active users.

In the first quarter of this year, the company raised its total revenue to 16.5% and its gross profit grew 17%, while net profit recorded a 4% decline.

El Puerto de Liverpool accelerates its express deliveries by more than 30%