Retail Roundup | January 2024
As a retail technology company obsessed with data, we at Tillerman are constantly looking at the trends and forecasts shaping the retail industry broadly. The start of 2022 continued to bring challenges with supply chain issues, inflation and of course Omicron having an impact, but there were bright spots as well. Heres a roundup of some of the retail stories that caught our eye this month.

Happy New Year, everyone! As we dive into the first month of 2024, it's a perfect time to explore some intriguing predictions for the year ahead. Brace yourselves for continued cost-cutting measures, the continued expansion of off-mall formats, and heightened concerns for consumers' financial well-being. And of course, let's not forget the ever-evolving world of AI – undoubtedly a game-changer.

On the Direct-to-Consumer (DTC) front, Retail Dive has served up a compelling piece outlining what to expect in the coming months. Another trend that's catching our eye is the ongoing expansion of Marketplaces – a space where both large and small businesses are increasingly finding their footing.

Turning our attention to the aftermath of Holiday 2023, it seems retailers had a solid selling season, at least on the sales side. However, a noteworthy contributor to the uptick was the prevalence of buy now, pay later apps. While this payment method fueled consumer spending, prices experienced a dip, with overall decreases of 4% in November. A classic case of swings and roundabouts in the retail world.

Macy’s has been making headlines. Despite declining a hefty $5.2 billion offer, they are navigating their way through repositioning efforts, marked by staff cuts and full-line store closures. The retail giant's journey will undoubtedly be one to watch as the year unfolds.

In the world of footwear, Birkenstock recently unveiled their first quarterly financials since going public. The report delivered a mixed bag of good and bad news, with the stock price reflecting a tinge more of the latter.

January also witnessed Wal-Mart making waves. First, they unveiled groundbreaking ideas at the Consumer Electronics Show, showcasing innovation in the retail space. Following this, they delved into the details of their Luminate strategy, promising a transformative approach. Meanwhile, not to be outdone, Amazon leveraged AI to enhance the apparel shopping experience for its customers, showcasing the continuous race for technological supremacy in the e-commerce realm.

Wrapping up the month on a positive note, we came across a gem in The New York Times – an article spotlighting Paynter. With a commendable focus on intention and conviction, Paynter stands out as a role model for brands of all sizes. There are undoubtedly valuable lessons to be gleaned from their approach, setting the tone for a year where authenticity and purpose take center stage.

Here's to an exciting year ahead, full of twists, turns, and unexpected triumphs in the ever-evolving world of retail!

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