Home / Knowledge / News / Retailers to focus on store expansion & technology
Retailers to focus on store expansion & technology
16
Apr '10
Having survived the worst of the economic downturn, many retailers are collectively breathing a slight sigh of relief while cautiously looking ahead to 2010, according to the eighth annual Retail Horizons: Benchmarks for 2009, Forecasts for 2010. The report, released by the NRF Foundation and KPMG LLP, examines benchmarks for the retail industry, reports retailers' key business priorities and plans, and tracks established and emerging retail trends. Based on a survey of more than 300 retailers, the report examines how companies reshaped strategic priorities last year and what core process improvements are necessary for a successful 2010.

In 2009, retailers were forced to rethink their strategic priorities because of changing market conditions and decreased consumer demand. According to the report, retailers last year overwhelmingly cited cost reduction as a top priority in store and field operations; human capital; marketing and advertising; and merchandising and IT.

“Last year, retailers placed a significant amount of energy into improving core business processes in order to better prepare themselves for a successful future,” said Kathy Mance, Executive Director, NRF Foundation. “Looking ahead, retailers will continue to analyze customer shopping habits and industry trends to make the best decision possible for their company, employees, customers and their brand.”

Benchmarks for 2009

Highlights include:

• More retailers focused on direct mail, online and in-store promotions in 2009 instead of more costly areas such as event sponsorships, television and print advertising
• Retailers increased private label merchandise offerings (32% of respondents in 2009 vs. 29% in 2008)
• Retailers focused more on customer retention rather than customer acquisition
• With an intense focus on pricing, retailers polled cited that promotionally priced merchandise made up less of the overall sales mix this year than last
• Lower supply chain costs and warehouse optimization were big priorities for retailers in 2009
Forecasts for 2010

With all signs pointing to an improved economy and a more confident consumer in 2010, many companies are eager to invest in growth opportunities again. Key areas include store expansion, social media, targeted marketing and advertising, employee retention, leadership development, adoption of handheld technology devices and kiosks and website personalization options, to name a few.

A few survey highlights include:

• 43 percent of survey respondents said they expect to maintain the same number of stores throughout 2010; more than one-third (37%) said they plan moderate to aggressive expansion.
• Nearly half (49%) of those polled report that personalization of their website will be a major investment priority for 2010.
• After 61 percent of respondents said customer acquisition was a big part of their initiatives in 2009, only 49 percent will focus on that in 2010


Must ReadView All

Pakistani textile associations want uniform energy pricing

Textiles | On 21st Feb 2018

Pakistani textile associations want uniform energy pricing

Pakistan’s textile industry association representatives have...

Japan’s JICA promoting energy-saving devices in Bangladesh

Apparel/Garments | On 21st Feb 2018

Japan’s JICA promoting energy-saving devices in Bangladesh

The Japan International Cooperation Agency (JICA) is promoting use of ...

Courtesy: Indorama Ventures

Textiles | On 21st Feb 2018

IVL 2017 revenue up 17% y-o-y to $8,438 million

Indorama Ventures Public Company Limited (IVL) has reported revenue...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search