| Global retail industry news |  |
| Global Industry Watch |  |  | | - Multichannel surge prompts review of store role, Deloitte says
A study by Deloitte shows that more than a fifth of all online transactions are made following in-store research. "In these challenging markets, multichannel is going to be the big driver of growth for UK retailers over the next few years," said Ian Geddes, Deloitte's UK head of retail. "We see a trend for retailers to use some of their retail footage as showrooms or display areas for a much wider range of products available online. This allows customers the chance to research and test products before completing the transaction at home or through a mobile device." Retail Customer Experience (23 Feb.)      - David Jones blames weather for drop in quarterly sales
David Jones reported a 2.7% decline in fiscal second-quarter sales, citing the unseasonably cold summer. Paul Zahra, CEO at the Australian retail giant, said that while sales volume remained steady, the dollar value of transactions declined. "The transactions are broadly in line with last year; basket size, however, is slightly down. ... that's been driven by deflation in categories like electrical," he said. The Sydney Morning Herald (Australia) (24 Feb.), The Australian (24 Feb.), The Herald Sun (Melbourne, Australia) (24 Feb.)  | Effective innovation is illusive, but is the key to sustained competitive advantage in the CPG industry. This report slide package examines best-in-class examples of innovation and marketing to drive success in this increasingly challenging environment. Learn more here. |
 - Mexico's Soriana posts 17% increase in quarterly net profit
Organizacion Soriana said new store openings helped speed up sales growth in the fourth quarter of 2010. The Mexican retailer said profit reached $97.1 million in the period. "Our newest store format, known as Soriana Express, has shown throughout its first year in operation considerably better sales per square meter than the rest of the store formats we operate," Soriana noted. "This is a factor that we expect will contribute to our results in the future." The Wall Street Journal/Dow Jones Newswires (23 Feb.), Reuters (23 Feb.)  | Each year U.S businesses spend trillions of dollars on goods and services. Focus Research empowers buyers to spend their budget wisely by offering easily accessible and trustworthy information on vendors that support small and mid-size business operations. Download this free whitepaper that compares leading CRM vendors to ensure you choose what's best for your organization. |
 | E-commerce Spotlight | | | | - Canadian Tire to resume online sales
Canadian Tire, which withdrew from online sales a couple of years ago, has decided to relaunch its e-commerce business. The retailer said changes in the competitive landscape and consumers' expectations prompted the decision. "We know the tire business is quite competitive. We know customers have choices. We know they spend a lot of time researching and in some cases ordering online," said Glenn Butt, executive vice president of customer experience and automotive at Canadian Tire. The Toronto Star (23 Feb.) | Technology Solutions | | | | - IKEA moves toward renewable power goal
IKEA, the Swedish home-furnishings retailer, is building a nine-turbine wind farm in Sweden. IKEA is working towards its goal of using renewable power to heat and cool its facilities. The company already owns more than 50 wind turbines. SustainableBusiness.com (23 Feb.) | Spotlight on Consumer Electronics | | | | | NRF News | | | | - Report finds consumers investing in small luxuries again
Unpredictable economic conditions in 2009 forced many consumers to reevaluate whether their manicures, new handbags and even their cable TV service were worth the expense. Recently released research from STORES Media examines what is "untouchable" and what is "expendable" for consumers as they adjust to the current economic climate. The survey, conducted by BIGresearch, shows small luxuries, like gourmet coffee and casual dining, may be back on buyers' lists. Read more.
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