2014 Methodology Statement: Esri Data—Retail MarketPlace

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A complete, current, and accurate snapshot of the retail marketplace is critical to strategic decisions made by retail trade and related food service establishments to increase business. There are two ways to measure activity in a retail market—supply and demand. Analysis of consumer spending reveals market demand, or retail potential. Examining business revenues—retail sales—reveals market supply. Esri offers both components of economic exchange for a complete assessment of the retail marketplace, including a measure of the difference between supply and demand—the Leakage/Surplus Factor.

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The Perfume Shop

The Perfume Shop is well renowned in the fragrance industry as a leader in perfume retail sales as well as an Employer of Choice, having successfully placed in The Times Top 100 Best Companies to work for in the UK in 2012, 2013, 2014 & 2015! Most recently we have achieved #22 in Indeed's Top-Rated UK Workplaces: Best in the Private Sector 2018!

OTHER ARTICLES

Retail technology innovation hub

Article | April 6, 2020

The coronavirus is having a severe impact on the retail sector. The only way to tackle future disruptions is by reducing the desire to shop in stores, and placing focus on creating a retail ecosystem that makes it easy for customers to receive and retrieve the products they want. That’s the view of former Amazon executive and supply chain consultant Brittain Ladd. In an online post, he says: “Prior to the Covid-19 pandemic, grocery retailers in the United States were focused on remodelling their stores and improving the in-store experience for customers.” “Supposed retail experts and grocery analysts argued vociferously that the only way for grocery retailers to be able to compete against Amazon, was by providing an immersive and inviting in-store experience.”

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How Art Van went from a retail juggernaut to a house afire

Article | April 6, 2020

The Warren-based retailer's sudden announcement that it would wind down operations comes only three years after its late founder, Art Van Elslander, sold the company to a Boston-based private equity firm, Thomas H. Lee Partners LP, in an estimated $550 million deal. How did a seemingly healthy, valuable and beloved company go so wrong so fast? After its 2017 acquisition, Thomas H. Lee set an aggressive strategy to open 200 more stores and double revenue to $2 billion by 2020. But being saddled with roughly $400 million in debt and no financial cushion to respond to the disruption of changing furniture habits left Art Van's business model sitting on a tinderbox. Management missteps were all the fuel needed to burn the house down.

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5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | April 6, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

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How is coronavirus impacting the retail industry?

Article | April 6, 2020

Primark is one of the latest retailers to announce the temporary closure of some of its stores, in a bid to help stop the spread of coronavirus. It has closed outlets in Italy, France, Spain, and Austria (where 30% of its revenue is generated), while its UK and Northern Ireland stores at the time of publication at least remain (perhaps controversially) open. Primark is certainly not the only one to take this kind of action. Global retailers including Glossier, Nike, Urban Outfitters, and Patagonia have all indefinitely shut their stores, purely to help prevent further outbreak. In the majority of cases, employees are being paid for lost shifts. At the same time, retailers have also updated working policies to help ease the strain on staff. Starbucks, for example, has announced that it is implementing ‘catastrophe pay’ to US employees, meaning that it will now pay staff for up to 14 days if they have been diagnosed or in close contact with someone who has coronavirus.

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Spotlight

The Perfume Shop

The Perfume Shop is well renowned in the fragrance industry as a leader in perfume retail sales as well as an Employer of Choice, having successfully placed in The Times Top 100 Best Companies to work for in the UK in 2012, 2013, 2014 & 2015! Most recently we have achieved #22 in Indeed's Top-Rated UK Workplaces: Best in the Private Sector 2018!

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