ICYMI: Retail News Roundup
ICYMI: Here’s what the team at RetailOasis has been diving into this month. We believe in staying ahead of the curve, so we’ve rounded up some articles that pack a punch with fresh perspectives and bold insights. Whether it's about shifting consumer behaviours or emerging trends in retail, these reads are guaranteed to spark new ideas and get you thinking differently about your next move.
CANADA AND MEXICO TARIFFS WILL TAKE EFFECT MARCH 4, TRUMP CONFIRMS
President Trump confirmed that tariffs on Canada and Mexico will go into effect on March 4, 2025, after being delayed for nearly a month. Alongside this, the U.S. will impose a 10% tariff on China, with further 25% tariffs on European Union imports expected soon. These moves align with Trump's reciprocal tariff policy, tied to issues like fentanyl trafficking. While Mexico remains hopeful for a deal to avoid the tariffs, discussions continue, with both countries needing to prove progress in addressing concerns. Read More
HOW DECLINING CONSUMER CONFIDENCE IS CHANGING THE WAY AMERICA EATS
Falling consumer confidence is reshaping food habits in Australia. Grocery shopping is becoming more budget-conscious, with bulk buying and home-brand products on the rise while premium ingredients decline. Fast food remains strong, but full-service restaurants are struggling—many are pivoting to fast-casual or high-end experiential dining as mid-tier establishments fade. Home cooking is making a comeback, driven by budget-friendly meal prepping and social media trends promoting affordable, practical recipes. As consumers prioritise value, independent restaurants are experimenting with new revenue models to survive in an evolving economic landscape. Read more
SHEIN'S ANNUAL PROFIT DOWN BY MORE THAN A THIRD
Shein’s profits took a hit in 2024, dropping nearly 40% to $1 billion, despite a 19% increase in sales, reaching $38 billion. These figures fell short of the company’s initial projections, which had estimated profits of $4.8 billion and sales of $45 billion. The fast-fashion giant is also facing challenges ahead of its planned London Stock Exchange listing, including the potential impact of U.S. tax changes on its pricing and profitability. As a result, Shein may reduce its valuation for the IPO, with estimates now ranging from $30 billion to $50 billion. Read more
GENERATIONAL BREAKDOWN: UNDERSTANDING THE BABY BOOMER CONSUMER
Baby boomers, despite being largely overlooked by luxury brands in recent years, hold a significant share of wealth and are making a comeback as a key consumer group. They are drawn to luxury for its craftsmanship, heritage, and quality, rather than trendy marketing. While less active online, baby boomers are increasingly using social media for brand engagement and shopping inspiration. Many are shifting their spending from luxury fashion to experiences like travel and wellness. As this generation grows older, brands should tap into their loyalty with personalised, experience-focused marketing that highlights the timeless values they cherish. Read more
GYMSHARK TO OPEN ON NEW YORK’S BOND STREET
Gymshark is making its mark in New York with its first North American flagship store opening later this year on Bond Street. The 13,000 sq ft store, spanning four floors, will offer more than just shopping - it will feature events, community spaces, workout studios, and even 3D-printed mannequins of Gymshark community members. The new flagship highlights New York’s growing importance as Gymshark’s North American hub, following the opening of its US headquarters and the success of its Lift:NY event. This move comes after the brand’s successful flagship launch in London and sets the stage for more stores in key cities like London, Manchester, and Amsterdam. Read more
NETFLIX OPENS RESTAURANT ON LAS VEGAS STRIP
Squid Games Red Bite, Green Bite fried chicken? Bridgerton High tea? Too Hot to Handle inspired cocktails? Netflix continues to build out it's permanent retail destinations around the world, which combine ticketed in-person experiences, shopping and restaurants. Most recently, Netflix is expanding its experiential dining offerings with the launch of Netflix Bites at the MGM Grand Hotel and Casino in Las Vegas. This venue blends iconic scenes from Netflix shows with immersive, real-world entertainment, allowing visitors to step into their favorite series. Building on insights from a successful six-week pop-up in LA, this permanent restaurant features interactive dishes designed to delight fans of all kinds. Read more
PLAYING TO WIN: HASBRO UNVEILS NEW GROWTH STRATEGY
Hasbro has introduced its 'Playing to Win' strategy, aiming to expand its audience from 500 million to over 750 million by 2027 through enhanced play-based engagement and strategic partnerships. Despite a 17% revenue decline in fiscal year 2024, primarily due to the Entertainment One divestment, the company plans to focus on its core strengths, including a diverse brand portfolio and a profitable games segment featuring franchises like Magic: The Gathering, Monopoly, and Dungeons & Dragons. CEO Chris Cocks emphasised the company's commitment to operational excellence and adapting to the evolving landscape of play. Read more
WHY DOES WALMART WANT A SHOPPING MALL?
Walmart has made a strategic move, purchasing the Monroeville Mall near Pittsburgh for $34 million, a low-risk investment given its proven location and existing infrastructure. The retailer plans to work with Cypress Equities to redevelop the space, possibly adding a new store or creating a mixed-use area with a retail hub. Experts believe Walmart is focused more on the property’s potential for future revenue streams than the mall itself. With declining foot traffic in traditional malls, Walmart’s acquisition could be part of a broader trend where major retailers repurpose underperforming malls into valuable real estate. This move could signal Walmart’s interest in diversifying beyond its core retail operations into property ownership. Read more