Deep DiveUnderstanding WeChat, China’s Super App: Part 2 — How WeChat Mini Programs Spell Opportunity for Brands and Retailers Coresight Research January 12, 2019 Executive SummaryWeChat dominates the social media scene in China — so much so that even large companies are leveraging its reach over using their own apps, and even buying add space in WeChat games. To tap into this opportunity, WeChat has been developing “mini programs” that operate within WeChat but function as a separate company app would, allowing users to order, pay for, pick up or have goods delivered. What’s the opportunity? Most WeChat mini program users are 18–39 years old. Users are evenly spread across different city tiers. Gaming, retail and tools are the most popular WeChat mini programs. WeChat mini programs can be a valuable tool for companies and brands to reach customers. WeChat’s social aspect makes it dramatically different to stores’ native apps. 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 CoverageCES 2019 Wrap-Up: Five Cool Things You Need to Know Coresight Research January 11, 2019 Executive SummaryThe Coresight Research team attended CES 2019 (formerly known as the Consumer Electronics Show) in Las Vegas this week. Many of the new technologies announced at CES tend to focus on applications, and this year was no exception: We saw many applications based on AI, 5G wireless, robots and new displays. Below are our key takeaways from the show: AI-based voice control is expanding beyond dedicated appliances to encompass the smartphone, home and automobile. 5G wireless will reinvigorate commerce and change our lives — but not until 2020. Several exciting new TV technologies and form factors were announced, but content lags. Future transport will be diverse and require human-machine cooperation. CES is no longer just a technology show: It embraces retail, consumer products and even food preparation. This document was generated for
Company Earnings UpdateTesco (LSE: TSCO) 3Q19 and Christmas Update: Strongest U.K. Christmas Growth for a Decade Coresight Research January 11, 2019 Executive Summary In the core six-week Christmas period, Tesco U.K. saw strong comp growth of 2.2%, ahead of the consensus estimate of 1.4%. Tesco reported U.K. comparable sales growth of 0.7% in 3Q19, slightly below consensus expectations of 1.0%, and below the 2.5% growth in the prior quarter. In 3Q19, central Europe comps were down 3.0%, while comps for Asia declined 8.0%. This document was generated for
Company Earnings UpdateSeven & i (TSE: 3382) 9M19 Results: Struggling at Home, Silver Lining in Overseas Convenience Stores Coresight Research January 11, 2019 Executive Summary Seven & i reported a 15.8% increase in net sales and a 2.9% increase in operating income for the nine months ended November 30, 2018. The overseas convenience store business saw an impressive performance, with operating income increasing by 15.7% year over year. Superstore Ito-Yokado saw a reduced operating loss of ¥200 million. Food supermarket York-Benimaru and department store Sogo & Seibu suffered in operating income with the latter’s operating loss widening to ¥937 million. This document was generated for
Company Earnings UpdateMarks & Spencer (LSE: MKS) 3Q19 Update: A Weak Quarter for Food and Clothing Alike Coresight Research January 11, 2019 Executive Summary Marks & Spencer (M&S) reported another weak quarter, with comparable sales down 2.4% in Clothing and Home and down 2.1% in Food. Management attributed the declines in Clothing and Home partly to lower footfall. Planned reductions in inventory levels resulted in a 25% reduction in the volume of stock going into the December sale. Management attributed the decline in Food to price investment and a transition to from promotions to lower prices. Nevertheless, comp growth in Food was still ahead of analyst expectations. This document was generated for
Company Earnings UpdateB&M (LSE: BME) 3Q19 Trading Update: UK Growth Is Hit by a Tough November Coresight Research January 11, 2019 Executive Summary B&M European Value Retail reported a 1.6% decline in U.K. comparable sales, below the consensus of 0.2% decline by Street Account. Total U.K. revenue growth came in at 4.5%, supported by new store openings. B&M posted group revenue growth of 12.1% at constant currency. This document was generated for
Analyst CornerWEINSWIG’S WEEKLY JANUARY 11, 2019 Coresight Research January 11, 2019 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses four key global events to watch in the first half of 2019. The trade group behind CES (formerly the Consumer Electronics Show), which is taking place in Las Vegas this week, forecast that U.S. consumers’ love of gadgets will increase despite growing issues around trust and privacy. British marketing technology company Ve Global has acquired Divvit, a Swedish e-commerce analytics platform, and has made a financial commitment to integrate Divvit’s solutions into its products. Toys “R” Us Asia plans to open 60 new stores in 2019, in contrast to its former U.S. parent, which filed for bankruptcy and was forced to close stores. The toy retailer plans to open three stores in Hong Kong and several more in mainland China. This document was generated for
Store TrackerWeekly Store Openings and Closures Tracker 2019, Week 2: Lidl and Wegmans to Open Three Stores While JCPenney Plans to Close Three Stores Coresight Research January 11, 2019 Executive SummaryCoresight Research tracks store closures, openings and bankruptcies for a select group of retailers in the US and the UK. Our Weekly Store Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. Highlights from this week’s Store Tracker: Year to date in 2019, U.S. retailers have announced 1,170 store closures and 1,176 store openings. Lidl will open three stores in Atlanta. Wegmans will open stores in three new markets. JCPenney will close three stores. Year to date in 2019, U.K. retailers have announced 225 store closures and 252 store openings. Hardy Amies has collapsed into administration. 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
Store TrackerWeekly Store Openings and Closures Tracker 2019, Week 1: Sears Confirms Closure of Additional 80 Stores Coresight Research January 11, 2019 Executive SummaryCoresight Research tracks store closures, openings and bankruptcies for a select group of retailers in the US and the UK. Our Weekly Store Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. Highlights from this week’s Store Tracker: In the US, we recorded a total of 5,524 closures and 3,083 openings by major retailers over the course of 2018. Year to date in 2019, US retailers have announced 1,167 store closures and 1,170 store openings. Sears will close 80 stores in addition to the previously announced 40 stores. Gap will close its Fifth Avenue Store. In the UK, major retailers announced 1,432 store closures and 755 store openings in 2018. Year to date in 2019, UK retailers have announced 225 store closures and 252 store openings. Greenwoods has closed all 40 stores. The Co-op will open 100 new stores in 2019. 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
Store TrackerReviewing 2018 U.S. and U.K. Store Closures Coresight Research January 10, 2019 Executive SummaryCoresight Research tracks news about store closures, openings and bankruptcies. Our Weekly US and UK Store Openings and Closures Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. In this report, we review 2018 store closures in the U.S. and the U.K., by sector. In the U.S., major retailers closed 5,524 stores and opened 3,083 stores during 2018. By sector, apparel specialist stores led the pack with 766 closures; Payless ShoeSource contributed 408 of these closures. Toys “R” Us was the retailer that closed the most stores in the U.S. in 2018. In the U.K., major retailers closed 1,432 stores and opened 755 in 2018. General merchandise retailers closed the most stores in the U.K., with Poundworld closing more stores than any other. 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 CoverageCES 2019 Day 4: Five Cool Things You Need to Know Coresight Research January 10, 2019 Executive SummaryThe Coresight Research team is attending the annual Consumer Electronics Show (CES) in Las Vegas this week. Into day four we’re seeing even more cool stuff. These are the hottest takeaways from the fourth day: The microprocessor industry is at an inflection point, poised to help solve some of society’s most serious challenges. Panasonic is developing the insides and interiors for the vehicles of the future. Artificial intelligence underlies all aspects of the CORE of the retail ecosystem. Your appliances are rapidly gaining intelligence to improve your life. Nvidia went back to its gaming roots, announcing a slew of new graphics products. This document was generated for
Event CoverageCES 2019 Day 4 Takeaways: Innovative Technology Startups At CES Coresight Research January 10, 2019 Executive SummaryThe Coresight Research team is in Las Vegas this week for CES 2019 (formerly, the Consumer Electronics Show). This year’s event features over 4,400 exhibiting companies, including standout startups alongside established companies. Here are some of the more notable startups that we saw on day four: Udelv, a self-driving delivery startup, announced that it was partnering with Walmart to pilot an autonomous grocery delivery service. ForwardX debuted a self-driving suitcase that follows you on its own. The suitcase, called Ovis, is equipped with sensors to identify you – as opposed to someone else passing by – and to avoid obstacles along the way. Gillette partnered with Formlabs – a Boston startup that specializes in 3D printing technology – to personalize and 3D print razor handles. This document was generated for
Company Earnings UpdateSainsbury’s (LSE: SBRY) 3Q19 Trading Update: Lower Holiday Promotions Weigh on Top Line Coresight Research January 10, 2019 Executive Summary UK grocery retailer Sainsbury’s reported a 1.1% decline in comparable sales for 3Q19, below the consensus of 0.3%. The company grew total grocery sales by 4%, with online groceries up 6.0% and convenience store sales up 3.0%. Total general merchandise sales, which includes Argos, declined 2.3%. Clothing sales fell 2%. This document was generated for
Event CoverageCES 2019 Day 3 Takeaways: Five Innovative Technology Startups at CES Coresight Research January 9, 2019 Executive SummaryThe Coresight Research team is in Las Vegas this week for CES 2019 (formerly, the Consumer Electronics Show). This year’s event features over 4,400 exhibiting companies, including standout startups alongside established companies. Here are some of the more notable startups that we saw on day three: Temi is a personal robot with a 10-inch tablet for a head that can play videos and music, control your smart home devices, charge devices and will soon integrate with Amazon Alexa. While most wearable fitness trackers are designed to help people get into shape, MiGo is a new type of wearable that helps stroke survivors regain lost abilities. Pix has developed a “smart backpack” that allows you to put customized pixelated electronic images on the back of your backpack. Origami Labs has developed a smart ring wearable that answers phone calls, sends and receives text messages and responds to commands such as asking for the weather or setting a reminder — anything that a Siri or Google Assistant could do. Dream Band claims its headband can help people who have trouble sleeping using a combination of data analysis and vibrations. This document was generated for
Company Earnings UpdateMorrisons (LSE: MRW) Holiday Trading Update: Wholesale Drives Growth; Retail Sales Impacted by Uncertainty Coresight Research January 9, 2019 Executive Summary UK grocery retailer Morrisons reported comparable sales growth (excluding fuel) of 3.6% in the nine weeks ended January 6, below the consensus estimate and slowing sequentially. Management pointed to consumer uncertainty as a factor inhibiting growth in the period. Wholesale revenues drove growth, contributing 3.0% to total comps, while retail comps, excluding fuel, contributed just 0.6%. The company maintained the guidance given in its first-half results. This document was generated for
