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Debenhams is opening gyms in three of its stores with more planned for the future as part of a plan to turn surplus floorspace in its high street outlets into “wellness destinations”.
The struggling chain said that pre-tax profits in the year to September 2 fell 44.2 per cent to £59 million, while underlying profits dropped 16.6 per cent to £95.2 million. Group sales rose 2 per cent to nearly £3 billion while like-for-like sales increased by 2.1 per cent.
Depending on who you talk to, the retail industry is either in a free fall or in the midst of a renaissance. The tale of two retails couldn’t be starker. On one hand, store closures are up four times already this year over last, more people are going online, and bankruptcies are piling up such as Payless, Rue21 and most recently, Toys ‘R Us. Department store sales are down 40% from 2000-2016. Sounds pessimistic.
On the other hand, 76 percent of retailers beat Q2 earnings, Tier A/B mall vacancies are at their lowest levels in 10 years, e-commerce only commands a 12% share and consumer confidence is rising. As further validation, digital natives like Amazon, Warby Parker and Bonobos are all investing in physical retail presences.
“We actually don’t call them ‘stores’ anymore—we call them ‘town squares.’” That was an executive at Apple, speaking about the company’s largest stores during its afternoon-long product-release event on Tuesday. In these “town squares,” aisles will be “avenues” and trees will provide customers shade from overhead fluorescents. The company dreams its flagship stores will become “gathering places,” complete with classes on coding, music, and photography.
Ahead of the Future Stores Summit 2018 we chat to Beatrice Bowen, Head of Concept Development at Caltex Australia. In this article we explore Caltex’s innovative The Foodary convenience hub concept in detail and delve into the customer-centric analysis employed in developing the innovative new strategy.
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Ahead of the Future Stores Summit 2018 we explore the strategies some of Australia’s leading financial institutions – including Suncorp, ANZ, Westpac and NAB – are using to transform their traditional branch models and appeal to the modern, digitally savvy customer.
Ahead of the Future Stores Summit 2018 we chat to Brian Gorman, General Manager of Retail Design at Scentre Group. In this article Brian chats to us about competing with the online sector by reinventing shopping through centre redesign that focuses on human interaction and enhanced social experiences, and leveraging technology and multichannel strategies to transform shopping.
Ahead of the Future Stores Summit 2018 we explore the innovative strategies five local and global retail brands are utilising to redesign their retail stores, transform the customer experience and increase their bottom line.