In 2022, many retailing channels posted positive growth in terms of retail value sales. This included department stores and non-grocery retailers, which had been particularly negatively impacted over 2020-2021 due to Coronavirus (COVID-19) lockdowns and g…
Following the loosening of COVID-19 restrictions and regulations, there was a shift to out-of-home consumption in 2022, which saw various retailers recording a recovery from the impact of the virus. Consumers started to travel more often, with office work…
The general merchandise stores channel, in which department stores dominate, was badly impacted by the pandemic. In 2020, when the pandemic first arrived and strict lockdown was introduced, both department stores and variety stores were not classed as ess…
2022 was a good year for the retail industry in the Philippines thanks to greater mobility of shoppers against a backdrop of growing COVID-19 vaccination rates and rising disposable incomes. The government issued a back-to-office order in 2022, which saw …
The performance of department stores in New Zealand was lacklustre in 2022, a result of low footfall in city centres. Pandemic-induced changes such as flexible working arrangements, consumer aversion to crowded places and the growing preference for home e…
As a result of the Yen depreciation, and the rising costs of imports and raw materials, the prices of many items available at general merchandise stores rose by approximately 10% in 2022. Isetan Mitsukoshi Holding is the leading player in department store…
The operating environment was extremely challenging for retailers in 2022. In addition to declining footfall in city centres, consumers burdened by inflationary pressures became more price-conscious. Consumers spending more cautiously were less likely to …
The retail industry in Japan performed well in 2022, with current value sales already fully recovering to pre-pandemic levels the previous year. However, this differed across the channels, with overall value sales through retail offline remaining just bel…
In India, the general merchandise stores channel is made up solely of department stores, as there are no variety stores in this country. After seeing double-digit current value growth in the earlier years of the review period, in 2020 department stores sa…
With the Indian economy recovering in 2022, the retail industry was showing strong double-digit growth that was even stronger than the performance seen in 2021. The dynamic performance in 2022 was being driven by more positive consumer sentiment as well a…
Prior to the outbreak of COVID-19, mainland Chinese tourists represented a significant proportion of consumption in department stores in Hong Kong, with Sogo and Lane Crawford among the banners that particularly benefited from sales to tourists. From 2020…
General merchandise stores registered strong retail current value growth in both department stores and variety stores in 2022. Variety stores posted the faster growth rate, as these outlets were basically unaffected by consumer caution amid a highly infla…
During 2022, with the Omicron variant of COVID-19 at large in the community, this was making customs clearance between Hong Kong and mainland China more uncertain, meaning that the Hong Kong retail industry was still having to rely mainly on local consump…
As a result of the Russian invasion of Ukraine and the resulting energy crisis, Austria experienced its highest inflation since the post-war period. The highest price increases were for essentials like electricity, heating and food, leading to a sharp ris…
The review period witnessed the closure of many department stores due to poor sales performance and increased competition from e-commerce retailers. Department store brands such as OG, BHG and Marks & Spencer witnessed a reduction in their number of outle…
Following a negative performance in 2020 due to mandated stores closures, and mobility and social life restrictions, the channel recovered partially in 2021 thanks to the gradual recovering of footfall during the year. In 2022, retail value sales in the c…
Retail in Singapore continued to gain growth momentum in 2022 following its recovery from the pandemic in value sales terms the previous year. The removal of social restrictions on crowd sizes and nightlife resulted in consumers venturing outside of their…
In 2022, current value sales in retail, both offline and online, recorded solid growth. However, inflationary pressures were a key contributor to this strong value increase. Overall, increases in the cost of raw materials, shipping costs, labour wages and…
Department stores continued to bounce back from the drop in revenue during 2020 as footfall levels further improved. Despite a positive performance for the second consecutive year in 2022, value sales of department stores remained significantly below the …
The UK retail environment experienced further current value sales growth in 2022, partly driven by inflationary pressures, which raised the prices of many consumer goods. The soaring inflation was aggravated by Russia’s invasion of Ukraine. Furthermore, i…