What: Chinese growth engine shows no sign of going back to full speed.

Why it is important: Global retail depends on how China goes in the coming months.

China's property market continues to experience a downturn, with newly built home prices declining for the 13th consecutive month in June. According to the National Bureau of Statistics, the aggregate price of new homes in 70 mainland cities fell by 0.7% in June, a slight deceleration from May's 0.71% drop. Prices of lived-in homes also decreased by 0.9% from the previous month, compared to a 1% drop in May. This persistent slump has significantly impacted China's economic growth, which expanded by only 4.7% in the second quarter, slower than anticipated. The real estate sector, along with related industries such as home appliances and construction materials, contributes about a quarter of China’s GDP.

Economic analysts highlight the critical role of the property market in China's broader economic health, noting a sharp decline in investment and falling prices. Despite various government measures introduced since late 2023, such as reduced mortgage rates and relaxed home purchase restrictions, the real estate market has not shown significant signs of recovery. These policies have yet to effectively address the overarching issues, as the real estate sector's difficulties continue to deeply affect the broader economy, particularly household wealth which is heavily tied to property.

In more developed cities like Beijing, Shanghai, Guangzhou, and Shenzhen, the second-hand home market has shown some improvement, with a less severe price drop compared to the overall trend. Notably, Shanghai experienced a modest increase in home prices in June, with newly built homes rising by 0.4% and pre-owned flats by 0.5%. This local improvement suggests a potential for market recovery, bolstered by recent government incentives aimed at boosting buyer confidence and stabilizing the market. However, the overall outlook remains cautious, with expectations of further policy easing and incentives over the next year to encourage a more significant market rebound.

China’s June home prices dip for the 13th month, adding weight to stalling economic growth

What: European brands should adopt strategic measures to attract returning Chinese tourists whose spending power is significant, especially in light of large events like the Euros and the Paris Olympics.

Why it is important: Chinese tourists represent a substantial portion of global luxury spending. Post-pandemic travel restrictions easing means brands need to re-engage this demographic to capture their valuable spending both domestically and abroad.

With the easing of travel restrictions, Chinese tourists are once again traveling abroad, and Europe is seeing a resurgence in their numbers, particularly due to major events like the Euros and the Paris Olympics. However, competition from other regions and domestic Chinese destinations remains stiff. European brands are advised to invest in stores in popular tourist hotspots, enhance in-store experiences, and create targeted marketing campaigns to capture this market. Additionally, brands should consider the significant appeal of high-end shopping experiences, personalized services, and collaborative promotions with other sectors like hospitality. These steps are crucial for capturing the renewed Chinese tourist spending and ensuring long-term growth in the luxury market.

Capturing the spending of returning Chinese tourists

What: Nike is partnering with the Centre Pompidou to create an immersive experience celebrating its Nike Air franchise during the Paris Olympics.

Why it is important: This collaboration highlights the fusion of sport and culture, leveraging a historic Parisian landmark to enhance the Olympic experience and showcase Nike's innovative legacy.

During the Paris Olympics, Nike will host an "Art of Victory" exhibition at the Centre Pompidou, celebrating its Nike Air franchise and the site that inspired the Air Max 1 design nearly 40 years ago. The exhibition, running from Wednesday to August 11, will feature a transformed facade showcasing sports stories and a skateable sculpture by French artist Raphaël Zarka. This collaboration aims to inspire boldness and disruptiveness in line with both the Pompidou's and Air Max's legacies. Additionally, the Centre Pompidou will offer free access to its exhibitions and permanent collections for visitors under 26 during the exhibition period.

Nike to create immersive experience at Centre Pompidou during the Olympics

What: The merger of Neiman Marcus Group and Saks has led to the formation of Saks Global, prompting executive appointments, consolidation of key functions, and approximately 100 layoffs.

Why it is important: This merger aims to create efficiencies and strengthen the luxury retail market presence of Saks Global, positioning it to better compete and thrive amid changing market dynamics and consumer behaviours.

Saks Global is consolidating key functions and making significant leadership changes following the agreement to merge with Neiman Marcus Group. This strategic move is designed to create operational efficiencies, resulting in about 100 layoffs. Marc Metrick, previously CEO of Saks.com, will lead the new entity as CEO of Saks Global, overseeing Saks.com, Saks Fifth Avenue stores, and Saks Off 5th. The merger aims to combine back-of-house functions like legal, finance, and operations while maintaining distinct customer-facing experiences. The deal, involving Amazon, Rhône Capital, and Salesforce, is pending regulatory approval and is part of a broader strategy to enhance competitiveness in the luxury retail sector.

Saks Global takes shape, triggers appointments, consolidation, and layoffs

What: Saks Fifth Avenue wants t position itself as a major luxury player catering to the top 1%

Why it is important: Amazon’s tech capabilities might be extremely helpful in the context of the merger with Neiman Marcus

Amid growing cost of living concerns in the U.S., the luxury retail market remains robust with an expected revenue of USD 368.9 billion in 2024, driven by a 3.22% annual growth rate through 2028. Luxury fashion will dominate the market, projected at USD 115.9 billion in 2024, according to Statista.

Saks Fifth Avenue is capitalizing on this growth by expanding its personalized shopping service, the Fifth Avenue Club, now located in high-end hotels and resorts in states like Georgia, Colorado, Minnesota, and Texas. This expansion caters to the 1% of shoppers with unique, high-touch experiences, combining personal styling and local community integration. President Larry Bruce highlighted the success in engaging new clients and plans further expansion.

In response to the consumer shift back to physical stores post-pandemic, Saks aims to enhance the shopping experience with sensory engagement and personalized services, boosting customer loyalty and reducing returns. Competitors like Mytheresa are also targeting this affluent demographic, focusing on time efficiency and curated selections to simplify the shopping process.

Emerging in this competitive space is In-Seam, an e-commerce platform founded in 2020, which offers personal shoppers a broad selection from over 100 luxury brands, aiming for US$300 million in annual sales by 2027. This indicates a strong market for personalized and experiential luxury retail that meets the high expectations of the wealthy consumer base.

A look at Saks Fifth Avenue Club VIP program

What: Macy’s rejected a $5.8 billion takeover bid, leading to questions about its future strategy amid declining sales and growing competition.

Why it is important: The fate of Macy’s highlights broader challenges facing the department store sector, including the shift to online shopping, rising operational costs, and intense competition, which have driven other major retailers into bankruptcy.

Macy’s, America's largest department store chain, rejected a USD 5.8 billion takeover bid from Arkhouse Management and Brigade Capital Management, causing its stock to drop by 12%. Despite declining sales and increasing competition, Macy’s has chosen to stick with its current turnaround plan under CEO Tony Spring, which includes closing 150 stores and enhancing its online shopping experience. The company owns significant real estate assets valued between USD 7.9 billion and USD 10.5 billion, but selling these properties could undermine long-term profitability. As Macy’s prepares to celebrate the centenary of its Thanksgiving Day Parade, it faces a tough road ahead in revamping its business amidst a challenging retail landscape.

Can anyone save Macy’s?

What: JCPenney has some serious plans to transform itself by using AI and machine learning

Why it is important: could tech help a former glory to grow again?

JCPenney is actively pursuing a revitalization through a 1 billion USD turnaround plan initiated in September 2023, under the ownership of Simon Property Group and Brookfield Asset Management. Key to this strategy, JCPenney has revamped its loyalty program and invested 40 million USD in upgrading its Reno, Nev. distribution center. The department store is also deploying new POS systems and enhancing store connectivity across its over 650 locations, with a goal of completing these upgrades within two years.

Chief Information Officer Sharmeelee Bala, who joined JCPenney in 2022, emphasized that revitalizing the company's technology infrastructure, which had been stagnant for years, is crucial. Bala's strategy focuses on customer interaction points, streamlining in-store and digital experiences. This includes integrating flexible POS systems that facilitate online orders in-store and adopting a mobile-first approach to improve customer service during peak times.

Additionally, JCPenney is implementing AI and machine learning in various operational areas such as merchandising and supply chain to enhance efficiency and customer delivery times, which saw a half-day improvement in Q4 2023. Bala notes that while there is some resistance to new technologies, the focus is on augmenting current roles, not replacing them, and leveraging JCPenney's extensive data to drive decisions and improve performance across the board.

JCPenny's plans to use AI and invest 1 billion USD in transformation

What: U.S. shoppers spent an average of USD 52 each during TikTok Shop’s July sale, marking a historic high and a break from recent declines, according to Earnest Analytics.

Why it is important: This significant increase in spending highlights TikTok Shop's growing influence in the U.S. e-commerce market, showcasing its potential to compete with established players like Shein and Temu during major sales events.

During TikTok Shop’s Deals for You Days event, U.S. shoppers spent an average of USD 52 each, a historic high and a notable increase from previous spending trends, according to Earnest Analytics. This event accounted for 37% of Chinese e-commerce sales in the U.S. during the week ending July 11, closely competing with Temu at 37.2% and Shein at 25.8%. Despite TikTok Shop’s growth, its customers' average spending remains at about 70% of that of Shein and Temu shoppers. The event's success is attributed to the platform's ability to drive impulse purchases through engaging social media content. Major brands like L’Oréal Paris, Maybelline New York, and NYX Professional Makeup participated in the sale, contributing to the spike in sales. The overlap of customers among TikTok Shop, Shein, and Temu suggests a competitive landscape where intent-driven shopping on Shein and Temu contrasts with impulse buying on TikTok Shop.

TikTok Shop spending jumps during Deals for You Days

What: Hongkong Land plans to revamp its flagship Landmark shopping mall in Hong Kong with a USD 1 billion investment.

Why it is important: The renovation aims to transform Landmark into an ultra-luxury destination, reinforcing Hongkong Land’s vision of creating world-class luxury lifestyle and retail hubs, and ensuring its competitive edge in the luxury market.

Hongkong Land, a leading luxury real estate developer, announced a USD 1 billion investment to transform its Landmark shopping mall in Hong Kong's Central district into an ultra-luxury destination. The project includes contributions totaling USD 600 million from ten top tenants, such as Cartier, Chanel, Dior, Hermès, Louis Vuitton, and Tiffany & Co., who will expand their retail spaces to over 226,000 square feet. This ambitious plan, set to unfold over the next three years, will feature haute couture ateliers, private dining concepts, bespoke concierge services, and two-story salons for VIP clients. The first phase will see Sotheby’s opening a 24,000-square-foot exhibition and retail space in July, followed by the reopening of The Landmark Mandarin Oriental hotel in 2025. This revamp aims to retain Landmark’s loyal customer base, which accounted for 80% of total sales in 2023, and to boost Hong Kong's luxury market, projected to grow at a 4.5% CAGR to USD 16 billion by 2030.

Hongkong Land unveils USD 1 billion landmark revamp plan

What: LVMH's revenues fell for the second consecutive quarter, highlighting a slowdown in demand for high-end brands.

Why it is important: The decline in revenues for a sector leader like LVMH indicates broader challenges in the luxury market, particularly from key Chinese and US consumers, and sets a cautious tone for the industry's outlook.

LVMH, the owner of Louis Vuitton and Dior, reported a 1 percent decline in second-quarter revenues, with organic growth at a modest 2 percent, missing analysts' expectations. The company faced significant sales drops in Asia and sluggish growth in the US, despite a strong performance in Japan. LVMH's fashion and leather goods division saw only a 1 percent organic increase, while its watches, jewelry, wine, and spirits categories were the hardest hit. The selective retailing segment, led by Sephora, showed the most growth. CEO Jean-Jacques Guiony expressed uncertainty about the future, citing unclear impacts of China's economic policies and continued pressure on less wealthy customers in the US.

LVMH revenue slip signals continued gloom for luxury

What: Grocery chain Sainsbury is selling its core banking business to Natwest, a bank.

Why it is important: Customer credit information is crucial for retailers these days, such a transaction is surprising.

Sainsbury’s has agreed to sell its core banking business to NatWest, focusing more on expanding its retail operations. This strategic move follows Sainsbury’s announcement in January about a phased exit from its banking division. The sale to NatWest includes Sainsbury’s Bank’s portfolios of personal loans, credit cards, and retail deposits.

However, the transaction excludes the commission income businesses such as insurance, ATMs, and travel money, which Sainsbury’s considers integral to its core retail activities. Argos Financial Services will also remain with Sainsbury’s. The completion of the transaction is anticipated in the first half of 2025, at which point customers of the banking business will transition to NatWest.

Post-transaction, Sainsbury’s expects to return at least GBP 250 million of excess capital to its shareholders. This capital return will follow the complete withdrawal from the core banking operations and the establishment of a future model for Argos Financial Services.

Simon Roberts, CEO of Sainsbury’s, emphasized the alignment of NatWest’s values with Sainsbury’s, particularly their customer focus. He assured that there would be no immediate changes for bank customers following this announcement. Roberts highlighted that this development allows Sainsbury’s to devote all efforts and resources to enhancing its core retail business, ensuring continued delivery of quality and value.

Sainsbury’s sells its core banking activities to Natwest

What: Best Buy Canada plans to open 167 small-format stores by the end of the year in partnership with Bell Canada.

Why it is important: This expansion strategy aims to increase Best Buy's presence in smaller and mid-size communities across Canada, providing easier access to consumer tech products and services. The partnership with Bell Canada allows Best Buy to leverage Bell's resources for store operations and labour, potentially boosting both companies' market reach and customer base.

Best Buy Canada, a subsidiary of Minnesota-based Best Buy, is set to open 167 Best Buy Express-branded small-format stores by the end of 2024 through a partnership with Bell Canada. The first store opened in British Columbia, with many more expected in communities previously lacking a Best Buy presence. These stores will offer a curated tech assortment, Geek Squad services, and telecom services from Bell, Virgin Plus, and Lucky Mobile. They will also support buy online, pick up in-store services for products available through Best Buy’s fulfillment network. Bell Canada will handle store operating and labour costs, while Best Buy will manage the tech assortment, supply chain, marketing, and e-commerce. This expansion is part of Best Buy's strategy to increase its market presence despite recent revenue challenges due to high inflation and lower consumer demand for tech products.

Best Buy Canada to open 167 small-format stores

What: Ikea is set to open 100 additional click-and-collect points at Tesco stores across the UK, enhancing accessibility for customers.

Why it is important: This expansion will bring over 90% of UK consumers within 5 miles of a collection point, reflecting Ikea's commitment to convenience and accessibility, while also leveraging Tesco's extensive store network.

Ikea plans to open 100 more click-and-collect points at Tesco stores throughout the UK, following the successful roll-out of its 100th mobile pick-up point. This initiative aims to enhance accessibility for customers, providing a next-day collection service free for orders over GBP 100, and costing GBP 5 for smaller orders. By the end of the expansion, more than 90% of consumers will be within 5 miles of a collection point. Ikea UK’s customer fulfilment manager, Jakob Bertilsson, emphasized the importance of evolving with customer demands for convenience. Tesco’s assets and estates director, Simon Williams, highlighted the collaboration's benefit in improving the shopping experience for both Tesco and Ikea customers.

Ikea to expand click-and-collect points at Tesco stores

What: Retail brands can enhance customer loyalty and connection by creating 'third places,' spaces outside of home and work where people can relax, interact, and build community.

Why it is important: 'Third places' foster genuine connections and enhance brand loyalty by offering environments where customers can engage with the brand and each other, leading to increased trust, incidental sales, and brand affinity.

The concept of the 'third place,' as identified by sociologist Ray Oldenburg, is a space where people can belong outside of home or work, fostering community and relationships. Retail brands like Bandit, Urban Outfitters, Choice Market, Arc’teryx, and Sixty-Six have successfully created such spaces, blending retail with community-centric environments like cafés, community hubs, and experiential stores. These environments encourage spontaneous interactions and provide a sense of belonging, leading to increased brand loyalty and incidental sales. By focusing on creating 'third places,' retailers can significantly enhance customer satisfaction, trust, and long-term loyalty, transforming their brand experience beyond mere transactions.

Creating community: How retail brands can capitalize on the ‘Third Place’

What: Saks has acquired Neiman Marcus Group in a USD 2.65 billion deal, forming a new entity called Saks Global.

Why it is important: This merger combines two major luxury department stores, aiming to create a more competitive and financially robust entity in the luxury retail market, while involving significant players like Amazon and Salesforce to innovate and streamline operations.

After years of speculation and talks, Saks owner HBC has finalized a USD 2.65 billion deal to acquire Neiman Marcus Group, forming a new entity named Saks Global. The deal, which includes investment from Amazon, Salesforce, and other financial backers, aims to strengthen the combined company's position in the luxury retail market. The acquisition is expected to bring about significant cost savings, operational efficiencies, and enhanced customer service through digital innovations. However, the deal faces challenges, including regulatory approval from the Federal Trade Commission and potential job consolidations. The merger's success will depend on effectively integrating the two companies while maintaining their distinct brand identities.

A Deal at Last: Assessing the Future for ‘Saks Global’

What: Amazon Prime Day drove US online sales up by 11% to USD 14.2 billion.

Why it is important: This significant increase highlights the event's role in boosting consumer spending across various categories and solidifying Amazon's dominance in the e-commerce market.

During the 48-hour Prime Day event, US shoppers spent USD 14.2 billion online, marking an 11% increase from the previous year. Adobe Inc. reported that consumers primarily purchased electronics, apparel, and small home appliances, taking advantage of steep discounts. Amazon, capturing about 60% of all online spending during the event, set a record for the number of items sold, although specific sales data was not disclosed. The average household expenditure was slightly down from last year at USD 152. The event, which started in 2015, aims to attract new Prime subscribers and strengthen Amazon's relationship with existing members. As of March, Amazon had 180 million Prime members in the US, an 8% increase from the previous year.

Amazon Prime Day boosts US online sales by 11%

What: Macy’s has appointed Keith Credendino as the new Chief Information Officer, effective August 4, 2024.

Why it is important: Credendino’s appointment comes at a pivotal time as Macy’s aims to further modernise its technology and enhance customer experience both online and in-store, aligning with the company's growth strategy, "A Bold New Chapter.”

Macy's has announced Keith Credendino as the new Chief Information Officer, succeeding Laura Miller, who is retiring. Credendino, currently the Senior Vice President of Technology Product Development and Customer Experience, will officially assume his new role on August 4, 2024. Having joined Macy’s in 2022, Credendino has been instrumental in enhancing the customer experience at Macy’s and Bloomingdale’s, particularly in launching and supporting the company’s digital marketplace. His contributions also include the redesign of macys.com and bloomingdales.com, and the evolution of their wedding and baby registries. Credendino’s background includes significant roles at Inspire Brands, The Home Depot, InterContinental Hotels Group, and Cox Enterprises. As CIO, he will focus on simplifying and modernizing Macy’s technology stack to better serve today’s consumers and support the company's growth ambitions.

Macy's names new chief information officer

What: Sotheby’s, an auction house, opens its first-ever retail store concept

Why it is important: retail goes experiential, department stores need to be creative and find the best partners to revamp and spice up their offer.

Sotheby's is launching its first retail outlet in Hong Kong, offering a diverse array of items including collectible sneakers and dinosaur fossils, with prices ranging from HK$5,000 to HK$50 million ($640.6 to $6.41 million). The outlet, situated in Hong Kong's Central financial district, is part of Sotheby's new 24,000 square feet premises, which also includes a space for exhibitions. The move comes despite a downturn in luxury spending in China, attributed to the country's economic struggles impacting property and capital markets. However, Sotheby's remains optimistic about long-term Chinese spending. This retail initiative is expected to expand, with similar outlets planned for New York and Paris in the near future. Asian clients, particularly from Greater China, constituted 30% of Sotheby’s global transaction volume in 2023, underscoring the region's significant contribution to the auction house's business. More than a third of buyers at a recent major auction series in New York were Asian, indicating robust ongoing engagement from the region.

Sothebys opens its first-ever retail store in Hong Kong

What: Walmart of México and Central America reported a 6.4% increase in total revenues for Q2 2024, reaching MXN 227,415 million.

Why It Is Important: This significant revenue growth, along with a 9.3% rise in net profit and strong performance in digital sales, highlights Walmart's robust market position and effective omnichannel strategy in Mexico and Central America.

Walmart of México and Central America announced a 6.4% increase in total revenues for Q2 2024, totalling MXN 227,415 million. The company's operating cash flow (Ebitda) grew by 7.7% to MXN 23,539 million, while net profit rose by 9.3% to MXN 12,510 million. CEO Ignacio Caride attributed the positive results to solid growth across formats and strong new store performances, as well as the company's focus on omnichannel capabilities. Walmart's e-commerce GMV increased by 19%, driven by on-demand services (up 30%) and marketplace sales (up 26%). By the end of June 2024, Walmart operated 3,938 units, with 3,003 in Mexico and 905 in Central America, including 25 new openings in the second quarter.

Walmart of México and Central America sees positive Q2 financial performance

What: Marks & Spencer announces the opening of two flagship stores, one in Bath and one in Bristol, continuing its expansion strategy in South West England.

Why it is important: These openings represent significant investments in key locations, aiming to enhance M&S's physical retail presence and attract more customers.

Marks & Spencer is set to open two flagship stores in South West England, with a new 83,000 sq ft store in Bath's SouthGate shopping centre and an 80,000 sq ft store in Bristol's Cabot Circus. The Bath store, representing a EUR 17 million investment, will replace the current Stall Street location and combine extensive clothing, beauty, and food ranges. The Bristol store, costing EUR 21 million, will create approximately 150 new jobs and enhance M&S's presence in the city centre. These openings are part of M&S's broader "store rotation strategy" aimed at optimizing store locations and spaces to improve customer experience. The new stores in Bath and Bristol reflect M&S's continued investment in its physical retail infrastructure, with over 45 stores currently operating across the South West and further plans to open more stores across the UK.

M&S to open new flagships in Bath and Bristol

What: Curbed magazine looks at what’s coming at Printemps in their new store at 1, Wall Street

Why it is important: Since it will be their only outlet, in the US, Printemps has to make this store outstanding to make sense financially.

1 Wall Street, a prominent architectural symbol in the Financial District, known for its classic Deco design by Ralph Thomas Walker, is embarking on a new phase with its first retail outlet. This outlet will be housed in the iconic "Red Room," originally the lobby for Irving Trust, featuring a lavish interior with a 33-foot-high ceiling and luxurious decor, including gold-streaked crimson walls. The room, recently restored and designated a landmark by the Landmarks Preservation Commission, will soon host Printemps, marking the French department store's first American location.

Printemps is set to occupy this space and an additional 55,000 square feet across two levels, transforming 1 Wall from its original office setup into a luxury residential and retail complex, the city's largest office-to-residential conversion. This transition is part of a broader revitalization of the Financial District, akin to the dynamic shifts Printemps experienced during its founding in 1865 Paris.

The design for the new retail space is being led by Laura Gonzalez, who aims to blend New York's boldness with Parisian elegance, ensuring that any alterations respect the room's historic significance. The plan includes using upcycled materials and custom designs to fit the unique environment of the Red Room, complementing the luxury condos in the building, which are on the market starting at around USD 900,000.

A look into Printemp’s new store at 1, Wall Street

What: The executive Vice Chairman of New World Development will list its investment unit on the Swiss stock exchange.

Why it is important: Companies still trying to bridge the East and the West, especially in retail and tech, are increasingly scarce.

Adrian Cheng Chi-kong, executive vice-chairman of New World Development and part of a prominent Hong Kong family, plans to list his investment unit, C Capital, on the SIX Swiss exchange through a merger with Youngtimers, a special situation investment firm. This merger will transform Luxembourg-based Youngtimers into C Capital, subsequently handling USD 700 million in assets under management. Founded in 2017, C Capital has invested in over 60 startups, including significant stakes in companies like Xpeng, Animoca Brands, and Lalamove.

Post-merger, Cheng will serve as the non-executive chairman of the newly named C Capital, guiding its strategic direction. He will remain a substantial shareholder, although specific details of his stake are undisclosed. The transaction details are set to be revealed by July 31, aligned with Youngtimers' shareholder meeting.

The focus of C Capital post-merger will be on private-equity investments in small-to-mid cap equities primarily in developed East Asian economies and selectively in Europe. This strategic move aims to bring Asian investment opportunities closer to European investors, leveraging the firm’s expertise and enhancing its international presence.

In addition to his ventures with C Capital, Cheng has experience with SPACs, having previously facilitated a merger between Artisan Acquisition and Prenetics, listed on Nasdaq. New World Development, under Cheng’s leadership, continues to manage a robust portfolio and has recently optimized its financial strategies amidst challenging market conditions in Hong Kong and mainland China.

K11 owner will list a tech investment unit in Swiss stock exchange

What: Emerging multi-brand retailers like Fantastic Toiles, APOC, and Bleaq are redefining the wholesale business model to support independent designers better and emphasise unique, ethical fashion.

Why it is important: These innovative retail platforms offer more favourable terms for designers, helping them avoid the pitfalls of traditional retail models and promoting sustainability and individuality in fashion.

With traditional retail giants facing financial difficulties and scepticism, a new wave of multi-brand retailers such as Fantastic Toiles, APOC, and Bleaq is emerging to challenge the status quo. These platforms provide independent designers with opportunities to sell their products under more favourable conditions, often eliminating middlemen and reducing financial risks. For example, Fantastic Toiles operates on a cooperative model with no commissions, while APOC and Bleaq use a more flexible commission-based approach. These retailers focus on sustainability, unique designs, and community engagement, which resonate with today’s consumers who prioritise ethical and exclusive fashion choices. Additionally, innovative platforms like Upstream are exploring fashion streaming services, further broadening the landscape for indie designers. This shift represents a significant change in the retail industry, offering more diverse and supportive options for emerging talent.

The new age of retail: Challenging the traditional wholesale model

What: Walmart is trying to recapture lost customers by reducing its subscription fees;

Why it is important: It’s all about the timing.

Walmart has launched its July Deals sale, offering a 50% discount on Walmart Plus memberships, now priced at USD 49 for a year. This promotion, timed just before Amazon's Prime Day, provides several advantages such as free grocery deliveries, free shipping, discounts on fuel, free tire repairs, and a Paramount Plus subscription. The membership also offers early access to sales, allowing members to shop five hours before non-members. The promotion is aimed at drawing customers ahead of competitive sales and is available for new or returning members until midday on July 18.

Walmart reduces its membership fees to lure Amazon shoppers ahead of Prime Day