Deep DiveChinese Outbound Tourists Survey 2019: Growing Traveler Numbers Fuel Total Spending Growth Coresight Research November 6, 2019 Executive SummaryThis report details the results of our fifth annual survey of Chinese overseas tourists’ travel, spending behavior and preferences. The top six takeaways from our 2019 survey are: Growth in the total number of trips taken by Chinese tourists has been driven by more people traveling, with our survey finding the average number of trips per traveler declined in 2019. Traveling independently – i.e., travelers making their own arrangements and not using a tour guide – became the most popular option this year, primarily driven by travelers from tier-one cities. This shift from group travel has negatively impacted outlet stores: Traditionally driven by group tourists, outlet stores captured 8.1% of total Chinese tourist retail spending, down from 9.3% a year ago. We estimate Chinese tourists spent a total of $203 billion (¥1,390 billion) in overseas markets in the 12 months ended August 2019. Our survey found average total spend per trip increased 1.1% year over year on a comparable basis. Total retail spend increased 11% to an estimated $102 billion (¥701 billion), but average retail spend per trip declined 2.3%. Beauty was again the most-bought retail category in this year’s survey. And, while last year the beauty category was in joint first position with clothing, footwear or accessories, our 2019 survey found beauty pulled ahead. We continue to observe a decline in the proportion of travelers going overseas with a spouse/partner or with young children, and a jump in the proportion traveling with friends. Consumers in China have become accustomed to using mobile apps for in-store purchases – and they expect the same seamless experience overseas. Retailers and service providers should look into securing the capability to accept digital payments using Chinese settlement mechanisms such as Alipay. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Deep DiveInnovator Intelligence: Syte — Providing Retailers With AI-Powered Visual Search Coresight Research November 6, 2019 Reasons to ReadThe Internet is where product search starts: Some 87% of shoppers begin product searches online. And, people spend more time than ever on social media – which is boosting the social media: Influencer marketing industry, now estimated to be growing at a CAGR of 56%. Around 8 in 10 US purchases are discovered on social media post. But finding the right product can be challenging if the consumer does not know the search terms: Visual search technology could solve this problem. Visual search technology has evolved and now includes many features that hold the promise of better customer fit – and lower return rates. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Market Navigators/Market OutlookGlobal Eyewear Market: Technology, Sustainability and Customization Are Shaping the Industry’s Future Coresight Research November 5, 2019 Reasons to ReadThe global eyewear market is being reshaped by emerging startups and innovations from established industry players. We examine market size, the evolving landscape, competion and the startups disrupting the industry. The eyewear industry consists of four main segments, namely: lenses (for glasses), contact lenses, frames and sunglasses. Research firm Statista estimates global eyewear sales grew just 2.5% in 2018 – and that growth will remain flat for the foreseebale future. Despite these low growth rates, Coresight Research believes there are pockets of opportunity in the eyewear market as innovative startups create new product and service offerings – and as established players up their games to expand the market. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportNew Retail Briefing: Alibaba Partners with New Universal Beijing Resort Coresight Research November 5, 2019 Reasons to ReadThis report is part of a biweekly series in which we discuss developments in China under the banner of “New Retail.” We offer insights into recent news, with a focus on digitalization and strategic collaborations. This week, highlights include Alibaba’s new partnership with Universal Beijing Resort, as well as JD.com’s adoption of automation technologies. The appendix details the last 12 months of New Retail developments in China. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Question of the WeekHow Is Robotics Transforming Retail? Coresight Research November 4, 2019 QUESTION OF THE WEEK: How Is Robotics Transforming Retail? Retailers are using robotics to transform their operations by automating and simplifying the processes involved in production, warehousing and logistics, and last-mile delivery. In store, robotics is used for inventory management and shopper services. This document was generated for
Deep DiveUS Furniture and Furnishings E-Commerce: Digital-First Retailers Bid for Greater Share Coresight Research November 4, 2019 Reasons to ReadConsumers have embraced online shopping in a big way across all of retail’s major nonfood categories, but have not embraced online furniture shopping as enthusiastically. Consumers do a lot of research online – but end up in the store to shop. Digital natives are working hard to drive more of this trade online, offering new tech features such as artificial reality apps that let shoppers “see” what an item would look like in the home. Established brands are expanding their online offerings seeking to keep up with online competitors, leveraging their store fleets for competitive advantage. At the same time, digital natives are opening brick and mortar locations to reach consumers in the real world. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Event CoverageGlobal Smart Supply Chain Summit 2019: Technology Is Driving Improvement in the Efficiency of Supply Chains Coresight Research November 4, 2019 Reasons to ReadThe Coresight Research team attended the 2019 Global Smart Supply Chain Summit in Beijing on October 29, which focused on the evolution of supply chain operations in the digital age. In this report, we summarize some key insights from the event, covering the following topics: The benefits of 5G technology How businesses must adapt their supply chains to respond to the changing consumer landscape in China The digitalization of supply chains in traditional industries The increasing focus on sustainability across the supply chain Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Flash ReportGoogle to Acquire Wearable Device Maker Fitbit for $2.1 Billion in Cash Coresight Research November 4, 2019 Reasons to ReadOn November 1, 2019, Fitbit announced an agreement to be acquired by Google for $7.35 per share in cash, representing a deal value of approximately $2.1 billion. The price represents a 19% premium to Fitbit’s closing share price on October 31 and a multiple of 1.4 times FY2018 revenues. The acquisition will allow Google to combine the newly acquired hardware maker with Google’s Android operating system (OS) for smartphones and smartwatches, improving the company’s ability to optimize hardware and software to better compete with market leader Apple. Google acquired Fossil’s smartwatch technology in January 2019. The transaction is expected to close in 2020, subject to customary approvals. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight Report30 Global Retail Cities: Seoul Coresight Research November 2, 2019 Executive SummaryWith this series, 30 Global Retail Cities, we profile the world’s major shopping cities – from fashion capitals such as Milan to shopping hubs such as Honolulu. We curated the top retail stores in each city, along with must-see shopping districts, major retail events and innovative store formats. Click here to view the full 30 Global Retail Cities series. Highlights: Myeongdong is the leading retail destination in Seoul, filled with high end department stores, street shops and local and international brands. Express Bus Terminal consists of 600 shops in an 80-meter-long alley and is the largest underground shopping mall in Seoul. The shops cover all sectors: apparel, accessories, furniture, food and more. Seoul Fashion Week is a biannual fashion event organized by the Seoul Design Foundation that showcases popular Korean designers with both modern and traditional looks. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Analyst CornerWeinswig’s Weekly—November 1, 2019 Coresight Research November 1, 2019 Reasons to ReadIn each report in the Weinswig’s Weekly series, Coresight Research CEO and Founder Deborah Weinswig reflects on a topical theme in retail. Each report also includes the following content: Recent retail and technology headlines from Asia, Europe, Latin America and the US—this week’s highlights include Amazon, Marks & Spencer and Kroger. Macroeconomic updates for Asia, Europe, Latin America and the US An earnings calendar for Coresight 100 companies A calendar of upcoming retail events Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Store TrackerWeekly US and UK Store Openings and Closures Tracker 2019, Week 44: US Store Closures Total Nears 9,000 Coresight Research November 1, 2019 Reasons to ReadOur Weekly US and UK Store Openings and Closures Tracker reports on store closures, openings and bankruptcies. We cover: What is happening in retail in the US and UK this week Year-to-date 2019 major US store openings and closures 2019 major US retail bankruptcies New non-store-closure news This week, there are highlights from Amazon in the UK and Walgreens in the UK and US. In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. So far this year, US retailers have announced 8,996 store closures and 3,792 store openings. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Event CoverageWWD Apparel and Retail CEO Summit: Day 2 Insights Coresight Research October 31, 2019 Reasons to ReadThis year, the Women’s Wear Daily Apparel and Retail CEO Summit has a theme of Movers + Makers, highlighting the people that are powering the fashion business through innovation. We highlight key insights from the second day of the event, covering: The growing importance of sustainability The new era of collaboration The influence of Gen X-ers Experiential retail Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight ReportSupply Chain Briefing: Smart Routing Helps Streamline Warehousing and Delivery Through Algorithms Coresight Research October 31, 2019 Reasons to ReadAs part of our Supply Chain Briefing series, this report discusses smart routing—the use of machine learning algorithms to optimize warehousing and delivery. With the global route optimization market set to grow over the next five years, we offer key insights into the use of this technology, including: The business case for smart routing in the supply chain The benefits it offers to both consumers and retailers Examples of the adoption of route optimization software Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Deep DiveHow Robotics Is Transforming the Retail Value Chain Coresight Research October 31, 2019 Reasons to ReadLarge brands, retailers and technology companies have been working together to introduce robotics to the retail value chain. Robots have been already tested and deployed in production, warehousing and distribution, last-mile delivery and even in client-facing roles. These are a few of the key areas we’re seeing companies benefit: Increased efficiency Warehousing and logistics In-store inventory In-store shopping experience Last-mile delivery Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportSeptember 2019 Monthly Consumer Update: US, UK and China Coresight Research October 30, 2019 Executive SummaryCoresight Research’s monthly reports keep you up to date on US and UK retail sales, US retail traffic and in-store metrics, selected US retailers’ same-store sales and key global consumer indicators. Click here to view our full collection of Monthly Reports. Each month, we analyze key metrics that reflect consumer demand in the US, the UK and China. In these updates, we focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. In September: US wage growth and inflation softened a little. Retail sales growth remained solid at 4.4%. UK retail sales climbed 3.6%, driven by a reported jump in sales at small retailers. China retail sales growth quickened to 7.8% year over year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
