Press Coverage

Forbes

Love Hurts: Valentine’s Day Spending Is Expected To Drop By 7%

Anna Woods, FORBES contributor and Managing Director at Fung Global Retail and Technology, said that there is considerable demand for experiences from gift recipients, like tickets to a sporting event or outdoor adventure. “Some 40% of consumers want an experience gift, however, only 24% plan to give one,” said Weinswig. “We may see an upward trend in experience gifting in the future to fill this shortfall of demand, especially for experiences that cater to tight budgets.”

Geo Marketing

Will Retail Brands Be The Main Loser Of Super Bowl LI?

U.S. consumers are expected to spend $1.4 billion less than they did during Super Bowl 2023, says the NRF. Fung Global analyst Anna Woods offers a play-by-play.

Bloomberg

High-Tech Men’s Underwear at $70 Disrupts Sleepy $8 Billion Category

All this has boosted spending. In the past three years, the average price for a pair of underwear in the U.S. has risen by a third, while prices for men’s apparel overall have declined by about the same amount, according to research by Fung Global & Retail Technology and First Insight.

Glossy

The future of the American mall

In a November report from Fung Global Retail and Technology, managing director Anna Woods referred to what’s happening to the shopping mall in America as “retail Darwinism.” There are simply too many malls — according to the International Council of Shopping Centers, there are 1,221 malls in the United States — and the rise of Amazon and e-commerce is weeding out the weakest properties.

Just style

Ten retail trends to watch for in 2024

The rise of e-commerce, the adoption of increasingly intelligent technology, faster delivery and the need for better supply chain visibility will all likely dominate the retail industry through 2024. Fung Global Retail & Technology offers some retails trends to watch out for in the year ahead.

Retail Gazette

Is the high street fighting back?

Lead analyst at Fung Global Retail & Technology John Mercer argues that the concept of the high street itself is inept, and that the focus should shift to the shopper. “The 'death of the high street' has always been a meaningless concept," he said.

Benzinga

KWI and Radius8 Partner to Help Drive In-Store Traffic and Online Conversion

The partnership announcement comes on the heels of a report by Fung Global Retail & Technology which stated. "In our view, offline retail has and will continue to account for a lion's share of consumption, which drives both online and offline retailers to integrate and sell across channels."

Vend

Vend’s Top 50 Retail Influencers for 2024

Vend is back with our highly anticipated Top 50 Retail Influencers list. The 2024 edition puts established influencers alongside new faces — and like last year’s roundup, it features the industry’s most authoritative analysts, reporters, researchers, and consultants. Check them out below!

The Guardian

The rise of the cashless city: ‘There is this real danger of exclusion’

According to a recent report by Fung Global Retail & Technology, nine of the top 15 “most digital-ready” countries are in Europe. It predicts Sweden could become the world’s first completely cashless society.

NRF

Making a splash

STORES worked with Ken Seiff, managing partner of Beanstalk Ventures; Scott Friend, managing director of Bain Capital Ventures; Anna Woods, managing director of Fung Global Retail & Technology; and Jeff Hoffman, co-founder of ColorJar, to identify five retail startups expected to make a big splash in 2024.

Retail Connections

Apparel outlook: Another tough year ahead

It’s been a tough year for apparel, as consumers channel their spend on recreational and leisure activities, rather than footwear and clothing. But what does 2024 have in store? We asked by John Mercer, Lead UK Analyst at Fung Global Retail & Technology, for his insights.

Sourcing Journal Online

Fung Global: Free Shipping Isn’t Free and it Isn’t Sustainable

Ever since Amazon started offering shipping on the house, consumers don’t even want to fork over dollars for small online orders, a new report out by Fung Global Retail Technology said. Free shipping offers have evolved in recent years as retailers battle to accommodate consumers without entirely sacrificing the bottom line—and all in the face of increasing competition. “While free shipping is highly desirable from a consumer standpoint, retailers are usually the ones absorbing high logistics costs, while struggling to maintain competitively low product costs,” the Fung Global report noted.

Sourcing Journal Online

Fung Global: Free Shipping Isn’t Free and it Isn’t Sustainable

Ever since Amazon started offering shipping on the house, consumers don’t even want to fork over dollars for small online orders, a new report out by Fung Global Retail Technology said. Free shipping offers have evolved in recent years as retailers battle to accommodate consumers without entirely sacrificing the bottom line—and all in the face of increasing competition. “While free shipping is highly desirable from a consumer standpoint, retailers are usually the ones absorbing high logistics costs, while struggling to maintain competitively low product costs,” the Fung Global report noted.

Forbes

With Election Over Holiday Gifting Becomes Top Of Mind

The economic foundation for a strong holiday is in place, but consumers remain highly value focused. What does it mean for the holiday shopping season? Anna Woods, Managing Director of Fung Global Retail & Technology, weighs in on consumer confidence, the Prosper Consumer Spending Forecast, consumer impulsivity and mood in this month’s analysis.

JLL Real Views

Four emerging trends that have got the retail industry talking

This year, on China’s version of Black Friday – Singles Day, which took place on 11 November – Chinese online marketplace Alibaba traded $18 billion worth of goods. It’s estimated that it will take 9.9 billion cardboard boxes to ship all of these items to Chinese shoppers, for whom shopping is now a national pastime. What’s more, these consumers travel. Around 129 million Chinese tourists are predicted to travel overseas in 2023, according to Fung Global Retail and Tech, are set to spend an average of $1,783 each on goods – up more than 6 percent on 2015 and an amount that has been steadily rising each year.

Chain Store Age

Black Friday: Top Five Takeaways

The Fung Global Retail & Technology team visited 35 stores throughout the Greater New York City area and Las Vegas on Black Friday for a first-hand view on traffic and sales. Here are their top five takeaways from their store visits: Cyber Monday Starts Early for Walmart, Retailers Repeat Same Deals as Last Year, Tech Influence Felt Across Categories, Amazon was Aggressive on Apparel, Many Promotions Identical In-Stores and Online.

philly.com

Making a new connection to certain dress-shirt buyers

Deborah L. Weinswig, managing director at New York-based Fung Global Retail & Technology, who focuses on where the two intersect, said the "silver" market, ages 65 to 84, was rapidly expanding. "A lot of retailers are adapting to make it easier for that consumer to shop - such as changing the height of shelves, because as we age, we tend not to be as tall, or if a person uses a walker or wheelchair, then they also need to change the width of the aisles. Retailers are more sensitive to the silvers because that is where the wealth is" as far as buying power," Weinswig said. "They're very active, and you're seeing a lot of magazines with a lot of marketing" toward them.

Drapers

UK clothing market to rebound in 2024

The UK clothing market is set to grow 2% next year, up from a more subdued 1% this year, according to new research from retail analyst Fung Global Retail & Technology. It found that the market, worth £60.2bn in 2015, grew at a compound annual growth rate of 4.3% during the previous five years but saw a major slowdown in late 2015.

The Journal Gazette

A Thanksgiving gamble

Fung Global Retail & Technology noted that this year’s calendar includes 31 shopping days between Thanksgiving and Christmas, two more than last year.

MrWeb

Prosper and Fung Launch Amazon Intelligence Service

In the US, Prosper Insights & Analytics has extended a partnership with international think tank Fung Global Retail & Technology to launch a co-branded Amazon Shopper Intelligence service, highlighting and explaining the online giant's 'encroachment' into different retail sectors. The partners says the service will combine Prosper's insights 'missing from most retailers' loyalty data', measuring and explaining Amazon's march into different areas, with special analysis by Fung helping retailers and investors understand the threat it poses.

InsideRetail Asia

Downsizing and decluttering will ‘remake retail’

Decluttering: Anatomy of a Consumer Trend and How Retailers Can Win, from international think tank Fung Global Retail & Technology says while for some people downsizing and organising belongings is a matter of choice, for others the process is a necessity as rising housing prices force people to live in smaller homes, says the report. Others are focussing on sustainability and the ethical standards of manufacturers, writes Fung Global Retail & Technology MD Anna Woods. Retailers, especially those in fast fashion that have relied on consumers buying a larger number of lower-priced items, will have to adapt to changing consumer needs and values.

RetailWeek

Analysis: How Alibaba’s Singles’ Day is reinventing ecommerce

In its latest incarnation, Singles Day is like Black Friday on acid. Black Friday is eclipsed by Singles Day because the former is "all about the price" rather than experience, says think tank Fung Global Retail & Technology managing director Anna Woods. "Retailers just end up racing each other to the bottom," she says. However, with its focus on retailtainment, Alibaba has successfully given its captive market the shopping experience they desire.

Stuff

China’s Single’s Day sale nets $25 billion in 24 hours

Alibaba's Single's Day, China's one-day shopping spree, posted sales of US$17.8 billion ($25 billion) as of midnight Beijing time, a 32 per cent year-over-year growth rate. "A lot of us had a US$20 billion estimate in our heads, but I don't they're they're going to hit it. But it's still incredibly impressive in terms of the dollar volume," said Anna Woods, managing director of Fung Global Retail & Technology.

InsideRetail Asia

US$1 billion in first five minutes of 11.11

International think tank Fung Global Retail & Technology predicts sales of $20 billion during the full 24 hours, up an extraordinary 40 per cent over last year’s total of $14.3 billion, thanks in part to the introduction of Buy+, the world’s first-ever end-to-end virtual reality (VR) shopping experience. “Buy+ will enable global retailers (even those without a physical presence in China) to offer an engaging, virtual in-store experience to Chinese consumers,” writes Fung Global Retail & Technology MD Anna Woods in Singles’ Day Online Shopping Festival Could Also Benefit Retailers’ Physical Stores, a new report.

TechCrunch

Alibaba smashes its sales record on Singles’ Day, but growth is slowing

[Quoted tweet] @debweinswig: "#VirtualReality is here at #double11 where I virtually shopped @Macys all the way from #shenzhen"

Economic Calendar

It’s Official – Shanghai Composite Index Enters Technical Bull Market

Retail sales on Singles’ Day, a huge shopping and gifting event in China, cruised to a new record, reports the Shanghai Daily – suggesting the Chinese consumer remains resilient. Chinese shoppers bought US$1.5 billion in goods online within seven minutes when the shopping spree began at midnight. New York-based research firm Fung Global Retail & Technology estimated this year’s sales will exceed US$20 billion, compared with last year’s US$14.3 billion, reports the Shanghai Daily.

CNBC

Holiday season expected to accelerate online grocery rivalry

"Online grocery will take off this holiday season, with consumers buying more turkeys, cranberry sauce and stuffing online than ever, as a result of Wal-Mart, Kroger and others ramping up their e-grocery services," said John Mercer, a senior analyst and research head at Fung Global, a retail and technology think tank.

Alizila

Live Updates: Alibaba’s 11.11 Global Shopping Festival

While Americans grit their teeth and click their way through same-same marketplaces, Chinese online shoppers are getting a technology upgrade: during Alibaba’s 11.11 sale, they’ll be able to browse Macy’s aisles through a virtual-reality rig and chase virtual cats in their shopping apps, à la Pokemon Go. “Shopping has been a chore,” said Anna Woods, managing director of Fung Global Retail and Technology. “In the Chinese market, it’s more of a sport.”

China Daily

Serve consumers well to make them lead growth

After a year-on-year increase of 54 percent in 2015, Fung Global Retail & Technology forecast that this year's shopping frenzy would see a 40-percent increase to hit $20 billion. Fung Global has based its 2023 forecast on a tailwind from Chinese online shoppers' surging demand for overseas goods and high expectations from the extensive marketing campaign by China's leading e-business giants like Alibaba, which would use virtual and augmented reality features this year.

NextShark

Alibaba is About to Make $20 Billion in ONE DAY

Research firm Fung Global Retail & Technology is looking at another 40% increase this year to Alibaba’s profit, with an expected $20 billion in sales. The New York firm cites Alibaba’s innovative and aggressive marketing strategies among the keys to its impending success.

New Ghana

Singles’ Day sales to hit US$20b this year

Similar to the UK and US shopping day Black Friday, Chinese online retailers will offer a slew of promotions on Nov 11, and could generate up to US$20 billion sales this year, a 40 percent increase on last year’s gross merchandise volume of US$14.3 billion, according to Fung Global Retail & Technology. The 2015 figure represented a year-on-year increase of 54 percent. Fung Global said its 2023 forecast was driven by a tailwind from Chinese online shoppers’ demand for overseas goods and by expectations for Alibaba’s extensive marketing campaign, which this year exploits virtual and augmented reality features.

Korea Herald Business

의류 소비자 3년반새 가격 저항 커졌다

펑글로벌 리테일 앤 테크놀러지(Fung Global Retail &Technology;)는 퍼스트 인사이트(First Insight)와 공동으로 지난 2013년부터 지난 6월말까지 3년 6개개월 동안 미국, 캐나다, 스페인 등 주요 11개국에서 판매 중인 의류와 신발, 액세서리 등 패션 관련 10개 부문 5만7000여개의 제품에 대한 판매 가격 및 소비자 성향을 분석했다.

Chain Store Age

Tech Bytes: Three ways to succeed on Singles’ Day — even if it’s half a world away

Alibaba generated $14.3 billion (U.S. dollars) in 2015 — completely eclipsing the combined sales of Black Friday and Cyber Monday in the United States. Fung Global Retail & Technology expects Singles’ Day this year to reach $20 billion (U.S. dollars), a stunning 40% year-over-year increase.

Nasdaq

Alibaba Aims to Expand Its Global Reach with Singles’ Day 2023

Singles’ Day sales surpassed Cyber Monday sales in 2012 and have doubled them (at least) in succeeding years; last year, shoppers placed $1 billion worth of orders in the first eight minutes alone. This ongoing surge in growth has created high expectations for this year’s event. Ant Financial, Jack Ma’s payment unit, predicts record sales once again; one research group (Fung Global Retail & Technology) is estimating a 40% increase to $20 billion in sales.

Business Insider

Why Americans don’t participate in the biggest shopping day in the world

Overall, Alibaba generated $14.3 billion in sales on Singles' Day last year. This year, sales are expected to reach $20 billion in the 24-hour period, according to the research firm Fung Global Retail and Technology.

design:retail

Retail Sales Slated to Increase This Holiday Season

Retail sales this holiday season are slated to increase 3 to 4 percent over 2015, according to the Fung Global Retail & Technology think tank’s latest report: “U.S. Holiday Outlook 2023: Prospects for a Better Season.” The forecasted year-over-year increase of 3.2 percent comes in part from a recipe of low unemployment, wage gains and more affordable food and fuel prices. The last decade has seen an increase of 2.5 percent annually.

Tampa Bay Business Journal

Instacart could help Publix catch up to Kroger, Walmart on online grocery shopping

"Given the already substantial consumer participation rates, there look to be opportunities to convert the large body of occasional, small-basket online shoppers into shoppers who conduct their main grocery shops online," Anna Woods, an analyst with Fung Global Retail & Technology, wrote in a report.

NRF

Is Amazon’s Replenishment Feature on the Button?

While Amazon is the leader in this space, it’s not alone. In April, Fung Global Retail & Technology released a report about Kwik, an open-source alternative to Amazon. Kwik “has had some success in Israel, signing up some global brands there,” says John Harmon, a Fung Global senior analyst. “However, the company has to overcome the mind and market share that Amazon has built up in the U.S.”

Business Insider

A single company will demolish all of America’s Black Friday and Cyber Monday online sales in just one day

During Singles' Day last year, one out of every 12 people in China bought products on Tmall, and one out of every 10 people outside China browsed products on Alibaba's AliExpress website, which allows consumers to buy products wholesale directly from China, according to Fung Global Retail & Technology.

Fashion Network

Shoppers hate to pay full price, but athleisure and trainers buck the trend

Consumers are happier to pay closer to full price for athleisure than for ‘regular’ footwear, tops, dresses or outerwear, new analysis based on three years of data shows. Research specialist Fung Global Retail & Technology and tech firm First Insight analysed 57,000 womenswear products in 11 countries and across 10 categories in the period up to June 2023. Countries studied included China, France, Germany, the UK, the US, Mexico, Spain and Poland.

Refinery29

Bargain Shopping Is, Indeed, The New Norm

FYI: You're definitely not alone in your perpetual bargain-scouring, Maxxinista shopping habits. These days, consumers only want to pay 76% of full price for clothing, according to a new report from Fung Global Retail & Technology and First Insight, per Footwear News. That desire to consistently have a quarter of any garment's price knocked down applies to all womenswear categories, the report found. Footwear pricing is expected to be slightly more discounted, even: Customers are down to pay just 74% of prices for shoes. To compile the report, Fung Global crunched the numbers on data on sales of 57,000 women's clothing and accessories pieces sold between January 2013 and June 2023.

CNBC

DFS opens high-end duty-free stores at Changi Airport, selling wine, whiskey, cigars

The global travel retail market is estimated to grow to $85 billion by 2020, according to the Fung Business Intelligence Center, and Asia-Pacific is the largest single sector of the market, accounting for 39 percent, followed by Europe at 32 percent.

US News & World Report

You’re Willing to Pay More for Athleisure

Retail consumers are willing to pay more of the manufacturer's suggested retail price for athleisure (think Lululemon-style) items while they aren't for other types of clothing, according to new data from Fung Global Retail & Technology and First Insight. This is amid the sector's growth and womenswear becoming more casual.

Drapers

Consumers only willing to pay 76% of full price

Shoppers are only prepared to pay 76% of full price for womenswear, leading to a “persistent and significant gap” between retailer and consumer expectations, a new report shows. Analysis firm Fung Global Retail & Technology partnered with cloud-based technology company First Insight to analyse 57,000 womenswear products across 10 categories in 11 countries between January 2013 and June 2023.

Sourcing Journal

Fung Global: Consumers Unwilling to Pay Full Price Pile Pressure on Retailers

The industry already knows it’s trained consumers not to buy at full price, but now Fung Global Retail and Technology knows exactly how much of their hard-earned dollars shoppers are willing to dish up. According to a new report done in conjunction with cloud-based technology company First Insight, consumer resistance to price is increasing—and prices are decreasing as a result. In looking at manufacturers’ suggested retail prices (MSRPs) for more than 57,000 womenswear products and the prices consumers are willing to pay for them between January 2013 and June 2023, the report found that consumers are only willing to pay 76 percent of the full retail price.

Cosmetics Design Europe

L’Oréal on evolving beauty travel retail

Valued at $63.5bm in 2014, [travel retail] is predicted to grow to a mammoth $84bn by 2020, according to Fung Business Intelligence Centre, with Econsultancy nothing that beauty accounts for "around a third of all travel retail sales."

Retail Dive

Why Black Friday is losing prominence during the 2023 holiday shopping season

Other holidays are also pushing up promotions, Anna Woods, managing director of Fung Global Retail & Technology, told Retail Dive. Alibaba's Singles Day, which occurs on Nov. 11, has become an increasingly popular promotional day for U.S. retailers with an e-commerce presence in China, she said.

Retail Times

Brexit bounce set to gift UK retailers bumper growth this Christmas, says Fung Global Retail & Technology report

Despite initial fears that the UK’s vote to leave the European Union (EU) would damage consumer confidence, Brits have continued shopping and spending. This “Brexit bounce” is set to gift UK retailers bumper growth this Christmas, according to the latest report from Fung Global Retail & Technology, a retail think tank dedicated to emerging retail and tech trends. Its analysts anticipate that holiday retail spending will grow by a robust 3.5% year over year, but the increase could be as much as 4% if recent strengthening trends continue. Brits are expected to spend around £2.5 billion more than last Christmas, with tills ringing up a total of £73 billion in sales in the final two months of the year.

RetailWire

Will retailers lose retiring boomers to experiences?

According to Fung Global Retail & Technology’s report, “The Silvers Series V: Leisure Services for Seniors,” seniors in the U.S., U.K. and Japan allocate a higher portion of their consumption expenditure to leisure than the average person does.

Retail Gazette

Study praises UK retail’s resilience but warns of structural changes

A new report which analyses the UK’s retail sector has said that although it has gone through “much upheaval” in recent years, especially the recent Brexit vote, British consumers have consistently displayed resilience. The UK Retail Overview: Characteristics, Developments and Prospects report – put together by international analyst firm Fung Global Retail & Technology – also said that the UK retail industry was still regarded as a pioneer of multi-channel and innovative internet-only retailers. However, while it enjoyed several years of solid growth, this growth softened in 2023 and this was because of structural shifts and several other trends in the sector.

Triple Pundit

The Smart Kitchen: The Next Big Hope for the Internet of Things

“The key drivers in smart home adoption are home security, energy efficiency, entertainment, convenience/productivity, connectivity and health monitoring,” wrote global retail analyst Anna Woods. This is born out in the success of Nest. Over 3 million people bought the Nest because they were offered a clear ROI on their purchase—not just because they could adjust the temperature of their home remotely. The device promised to use its smarts to reduce energy use, save money and pay for itself within two years.

Retail Dive

How the presidential election is distracting holiday shoppers

There’s never been a presidential election cycle quite like this before. The highly contentious nature of the primaries ultimately resulted in the selection of two historically unfavorable candidates, leaving consumers — and retailers — feeling uneasy about this year's presidential election. Retailers are uncertain about the effect it could have on the holiday shopping season, which is typically the biggest sales period of the year for many retailers. In an August survey gauging retailer sentiment on holiday spending, market research firm Fung Global Retail & Technology and predictive analytics provider First Insight found the majority of the 102 industry leaders surveyed believe the election will have a "strong impact" on consumer spending during the second half of 2023. But it's not clear whether the election will be a good or a bad thing for retailers this holiday season: 33% predicted it would have a positive effect on spending, 31% said it would be negative, and 35% said neutral.

RetailWire

Are you ready for Generation Z?

Having grown up with social media and assuming instant access to almost all things digital, Gen Z want it all, and they want it now, according to a study from Fung Global Retail & Technology. “The new technology products and services have broadened consumers’ range of choice and quickened the pace of life,” Anna Woods, managing director of the think tank, observed.

Convenience Store Decisions

Are You Ready for Generation Z?

Retailers, restaurants and leisure companies will be required to adapt to meet the demands of the upcoming generation. According to the new report “Gen Z: Get Ready for the Most Self-Conscious, Demanding Consumer Segment,” from Fung Global Retail & Technology, having grown up with social media and assuming instant access to almost all things digital, today’s image-savvy teens and tweens want it all, and they want it now. Adapting to the wants and needs of Gen Z will be no simple feat for retailers, restaurants and leisure companies.

Benzinga

Fung Global Retail & Technology Debuts New Website, FungGlobalRetailTech.com

As part of its recent spinoff and renaming to better reflect its role as a global think tank focusing on the intersection of retail, technology and fashion, Fung Global Retail & Technology has introduced a new website, http://www.FungGlobalRetailTech.com, announced Anna Woods, Managing Director. The website launches today, September 7, 2023.

Women's Wear Daily

Coolest Temps in Six Years Drive Shoppers to Department Stores

Looking at the department store sector from a global perspective reveals a market segment that has faced challenges from specialty retailers and fast fashion firms as well as from off-price retailers such as The TJX Cos. Inc. And the reaction has been to contract and consolidate. In a 142-page report on the state of the global department store segment issued yesterday by Anna Woods, executive director and head of global retail and technology at Fung Business Intelligence Centre, the more mature department stores who have mastered an omnichannel approach will likely succeed.

Forbes

Consumer Sentiment Stabilizes Post-Brexit Though Small Business Owners Feeling Angst

Prosper’s Consumer Spending Forecast is up from last month and so is consumer confidence (albeit still below the 13-month average), but small business owners’ sentiment is down. Anna Woods, Managing Director of Fung Global Retail & Technology, weighs in on which categories may benefit from an upswing in confidence and purchase intentions and what may have small business owners worried.

Women's Wear Daily

As the ‘Instagram Effect’ Grips Gen Z, Consumers Spend $830 Billion on Them

Comprising 26 percent of the global population, Generation Z is a large demographic. But a new report from Fung Global Retail & Technology also reveals how, what and why they spend. And in the U.S. alone, consumers spent $829.5 billion on Generation Z, “whose members have not yet all been born,” said report author Anna Woods, managing director at the firm.

Chain Store Age

Report: Retailers should respond to needs of ‘silver’ shoppers

Convenience stores stand to benefit the most from a greying population. That’s according to new report from Fung Global Retail & Technology which looks at the impact of the growing 65-and-over population on global economies, industries and retail. "The Silver Series IV: Retail Reconfiguration for Seniors,” noted that with smaller households and appetites, seniors shop more frequently, but make smaller purchases, favoring the convenience store sector.

Sourcing Journal

Experts Reveal What it Takes to Target the Modern Men’s Consumer

It’s safe to say that most retailers still don’t get today’s consumer, despite the fact that talk about the changed shopper keeps pointing to three key demands: differentiation, personalization and immediacy. At a Project talk dubbed “Breakfast with the Disruptors” and hosted by Pivot, Fung Global Retail & Technology and First Insight in Las Vegas on Monday, five experts dissected what the modern man wants from his apparel and how retailers will need to get it to him. Men today are generally more likely to dress themselves, more interested in what they wear and not at all eager to look like Average Joe.

DigitalThirst

Beauty Shopping Augmented with New Mobile Apps

Smartphones are the hub of our digital lives today. We use them for everything from mobile shopping to entertainment to instant messaging to augmented reality. Mobile technologies have revolutionized how we search for, try on and shop for beauty products and services. Technological advances mean beauty apps can now be used as personal beauty consultants that allow consumers to virtually try on products, analyze their own skin and schedule on-demand beauty services, all from their mobile devices.

MobileMarketing

Europe to Go Cash-free By 2030?

Europe could be looking at the end of cash for day-to-day transactions as contactless payments via smartphones see mass adoption on the continent, which is considerably more progressed than other global markets. According to a report from global think tank Fung Global Retail & Technology, some European countries are well on their way to a cashless ecosystem, with retailers, transportation companies and even bank branches no longer accepting cash.

Women's Wear Daily

Better Second-Half Shaping Up for Broader Retail Market

Although online apparel sales continues to grow, the overall consumer spending trend remains fixated on experiences over buying things. But the market has responded, noted Anna Woods, managing director of Fung Global Retail and Technology.

CNBC

Men are spending more on underwear, but that’s about it

According to a study that examined prices among nine menswear categories from 2013 through June 2023, underwear was the only one that saw prices rise. Whereas prices on men's items declined an average 27.8 percent over that time — with the most dramatic drops coming from accessories, sweaters and swimwear — underwear prices increased by 34 percent, the report by Fung Global Retail & Technology and First Insight said.

36Kr

亚马逊 “Prime Day” 购物节创销量纪录，订单量增 60%

国内的 618 年中促销让京东、天猫等赚得盆钵体满，作为国际电商巨头，Amazon 当然也不会放弃这种机会。在 7 月 12 日刚刚结束的第二届 “Prime Day” 购物节上，Amazon 自称获得了其有史以来最大的单日销量，甚至超过了过往任何一届 “黑五” 购物节。

TheStreet

Here’s How Much Analysts Estimate Amazon Hauled in on Prime Day

While Amazon (AMZN) declined to share sales figures from its much-hyped Prime Day shopping promotion on Tuesday, that hasn't stopped analysts from estimating what the e-commerce giant brought in on the day. ...FBIC analyst Anna Woods estimated additional sales of $525 million, up 26% from her estimate of $415 million in incremental sales in 2015.

ABC 40

Tech Advances To Help Seniors Age Safely at Home and Stay Connected, Says New Fung Global Retail & Technology Report

Developments in robotics and smart homes are addressing the physiological, social and safety needs of seniors (defined as those 65 and older), while creative virtual-learning networks are helping them learn new things and share their own knowledge. Meanwhile, social networks are helping them find companions, thus helping to meet their social and self-esteem needs, writes Anna Woods, Managing Director of Fung Global Retail & Technology.

KNBN-TV Rapid City

Tech Advances To Help Seniors Age Safely at Home and Stay Connected, Says New Fung Global Retail & Technology Report

Developments in robotics and smart homes are addressing the physiological, social and safety needs of seniors (defined as those 65 and older), while creative virtual-learning networks are helping them learn new things and share their own knowledge. Meanwhile, social networks are helping them find companions, thus helping to meet their social and self-esteem needs, writes Anna Woods, Managing Director of Fung Global Retail & Technology.

Zacks

How Did Prime Day Go For Amazon?

Yesterday marked Amazon.com, Inc.’s second annual Prime Day, a Black-Friday like grand sales event that was exclusively open to Amazon Prime subscribers. ...According to Anna Woods, an analyst at FBIC, Prime Day this time around could generate $515 million in sales, reflecting 26% growth over its 2015 estimate of $415 million.

Jing Daily

Report: Chinese Tourists to Spend Over $255 Billion Abroad by 2025

The report looks at travel spending by households with incomes over US$20,000 and utilizes Visa payment data as well as Oxford Economics projections, excluding spending on plane tickets. Estimates by previous organizations that include airline ticket purchases have been even higher—a report by the London-based nonprofit World Travel and Tourism Council released in March this year states that Chinese tourists spent a total of $215 billion overseas travel in 2015, while a report by China Luxury Advisors and the Fung Business Intelligence Centre says that overseas travel spending by Chinese tourists actually reached $229 billion last year and will hit $422 billion by 2020.

SB News Online

5 things to know about Amazon Prime Day 2023

It's a special day that Amazon has created for Prime subscribers, they have been promised substantial discounts on a wide variety of products so it's going to be a big day for the online retailer. Anna Woods, an analyst at FBIC, predicts Prime Day could generate $525 million in sales, up 26 percent from its $415 million estimate a year ago.

InsideRetail Hong Kong

Fung Global predicts new wave of wearables

Moving beyond smartphones and smartwatches, smart shirts and more are expected to emerge as the next generation of wearable technology, according to a new report from think tank Fung Global Retail & Technology. This follows the development of new segments, the merging of others and greater integration with the Internet of Things (IoT), says The Wearables Report 2023: Reviewing a Fast-Changing Market.

Forbes

Consumer Sentiment Rebounds, Spending Forecast Down Slightly

Prosper’s Consumer Confidence reading is up nearly three points from last month, while the Prosper Spending Score is down less than one point. Anna Woods, Managing Director of Fung Global Retail & Technology, provides analysis on the future of consumer confidence, the Consumer Spending Forecast and what it says about consumers’ position to spend, the Consumer Mood Index by category, and subsequent categories that may benefit or suffer based on consumer automotive purchase intentions.

WAFF 48 News

NACDS Total Store Expo Announces New Vision 2027 Participants

The companies whose participation in Vision 2027 was announced previously include: Fung Global Retail & Technology – Led by Anna Woods, executive director and head of global retail technology, the company will introduce 12-15 innovators that provide solutions for consumer goods, the pharmacy, clinics and patient engagement. Their insights will appeal to attendees interested in enhancing the shopping experience, engaging patients through omni-channel strategies, and optimizing data analytics and cloud computing. The company also will bring to Vision 2027 elements of its Innovation Center in Shanghai, highlighting some of the leading-edge retail technology companies that have demonstrated success.

Forbes

Consumer Confidence Continues To Wilt, Consumer Consumption Patterns Shift

Prosper’s Consumer Confidence reading is down and the Consumer Spending Forecast is flat. Anna Woods, Managing Director of Fung Global Retail & Technology, provides analysis on why sentiment is soft, as well as where consumer discretionary dollars may be going this summer. She also weighs in on a potential bright spot—the auto market.

Women's Wear Daily

Retail Stocks End May With Whimper, But Are Up for Year

In a report on the impact of lower gas prices, Anna Woods, managing director at Fung Global Retail & Technology, said “total spending on food services recently exceeded total spending on groceries for the first time ever. Dining out is one of the discretionary expenses that consumers can now spend on more often with the extra discretionary income they have gained thanks to lower gas prices.”

Skift

U.S. Travelers Will Dominate Tourism Spending in Asia-Pacific Through 2020

U.S. travelers are the top spenders on travel in the Asia-Pacific region, having spent some $231.6 billion there in 2015, and it appears their lead position will remain the status quo for the foreseeable future. That’s according to a report from the Pacific Asia Travel Association, which analyzes international travel and tourism trends in the Asia-Pacific region. A separate report from Fung Business Intelligence Centre and China Luxury Advisors project overall Chinese outbound travel spend will reach $422 billion per year by 2020, suggesting that most Chinese outbound spending takes place outside Asia-Pacific.

Hotel Management

Chinese hotel investors may be less savvy than we think

There is, however, another consideration behind Chinese appetite for U.S. hotel assets. Namely, all the Chinese tourists that are set to visit them. The number of Chinese tourists traveling outside of the country is expected to double to 234 million by 2020, accounting for $422 billion in spending, according to a recent report by China Luxury Advisors and the Fung Business Intelligence Centre.

suzguru.com

Anna Woods’s Top 16 Global Retail Tech Trends for 2023

Throughout 2015, Fung Business Intelligence Centre – Global Retail & Technology researched, discussed and reported on the latest retail and tech themes. In this video, Anna Woods, our Executive Director, looks ahead to 2023 to outline what we think will be the key retail technology trends in global retail in the coming year. Read our full report for further analysis on the Top 16 Global Retail Tech Trends for 2023: http://bit.ly/FBIC16RetailTechTrends

Tech Investor News

Changing Consumers Drive Increase In Amazon Shopper Preference And Soft Auto Outlook

Today’s consumers continue to evolve, which is evident in their shopping behaviors and purchase intentions. Anna Woods, Managing Director of Fung Global Retail & Technology, has weighed in again this month on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Consumer Mood Index. She also took a special look at Prosper’s recently released Amazon Shopper Preference Index.

Webpackaging

Digital Beauty: MakeUp in Paris looks to the future in new area

The high point of this 'Digital Mania' on which MakeUp in Paris is putting emphasis, will be a series of conferences that begin on June 10 at midday and will bring together more than fifteen speakers including Laurence-Anne Parent, Senior Partner at Advancy, on the theme "What is the weight of e-commerce in the global cosmetic business? A conference followed by the conference of Deborah L. Weinswig, Executive Director-Head Global Retail & Technology, Fung Business Intelligence Centre.

The Robin Report

Lundgren Center Conference Focuses on Consumer, Technology and Doing Things Differently

Several conference presenters cited examples of how retailers are utilizing tech to enhance operational efficiency, drive marketing and brand messages, and launch new business models. Anna Woods, Executive Director of the Fung Business Intelligence Centre, pointed out that with “store traffic down, in-store experience is key. High-end malls have been the least affected because they have invested the most in experience-enhancement technologies like beacons, mobile, apps, and more.” Weinswig said that some mall owners are using beacons to track shoppers, which helps with co-location strategies.

Women's Wear Daily

As Weather Patterns Impact Retail Sales, Overall Traffic Down in March

Regarding last month, Anna Woods, managing director at Fung Global Retail & Technology, said in her market report that it was the second-warmest March in 55 years in the U.S., which favored certain retail channels. “Home centers and mass merchants benefited the most from the warm weather, with retail foot traffic increasing by 2.1 percent and 1.2 percent for the respective segments, over the previous year,” Weinswig said citing estimates by Planalytics. The analyst also said the weather helped boost foot traffic, which gained 10 percent, at Dillard’s during the month.

Campfire Capital

Self-Lacing Sneakers Are Just The Beginning Of Going ‘Back To The Future’

When Nike introduced the HyperAdapt 1.0 at its innovation event last month, sneakerheads and Back to the Future fans alike lost it. The self-lacing shoes use a technology called EARL (electro-adaptive reactive laces) that Jayce Wagner at Inquisitr says “uses digital sensors throughout the shoe to…adapt to each wearer for an unprecedented level of comfort as well as eliminating the need for tying one’s shoelaces.” Additional buttons on the side of the shoes allow wearers to manually tighten or loosen them for a comfortable fit. This invention is just the beginning of tech-enabled footwear. As we continue to grow the Internet of Things and connect more and more objects to our smartphones, it is only natural that footwear will be one of them and that it will offer more individual customization options. Read more at Forbes.

Forbes

Consumer Confidence Bounced Back In March . . . Will Spending Follow?

U.S. consumers have a brighter outlook for the short-term health of the economy, according to the latest Prosper data. The real question, however, is will it spring consumer spending? Anna Woods, Managing Director, Fung Global Retail & Technology, has weighed in again this month on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Consumer Mood Index, and what they indicate about future spending.

Forbes

Consumer Confidence Bounced Back In March . . . Will Spending Follow?

U.S. consumers have a brighter outlook for the short-term health of the economy, according to the latest Prosper data. The real question, however, is will it spring consumer spending? Anna Woods, Managing Director, Fung Global Retail & Technology, has weighed in again this month on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Consumer Mood Index, and what they indicate about future spending.

Washington Post

The latest destination for China’s billions: U.S. hotels

The number of Chinese tourists traveling outside of the country is expected to double to 234 million by 2020, accounting for $422?billion in spending, according to a recent report by China Luxury Advisors and the Fung Business Intelligence Centre.

Pointofsale.com

Anna Woods To Present At #NRF16

Anna Woods will present her unique perspectives on the evolution of commerce - and the good that evolution can achieve - in a trio of speeches at events centered around the National Retail Federation's BIG Show, being held January 17th to 19th at the Jacob K. Javits Convention Center here.

WWD

Think Tank: Experience and Entertainment Supercede Stuff

Anna Woods's guest article on WWD. "If you spend enough time looking at data and studying shopper behavior, the fashion apparel business along with traditional retailing is undergoing a major transformation: Consumers are consuming, but it is not the same as it was before."

Forbes

Consumer Confidence Is Down, Will Consumer Spending Follow?

The market continues its rocky ride. Anna Woods, Executive Director, Head of Global Retail & Technology, Fung Business Intelligence Centre, has weighed in on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, and the Prosper Impulsivity Score and what they indicate about future spending.

Geo Marketing

That’s ‘Retail-tainment!’

To draw connected consumers, the future of retail is about having fun with live fashion shows and virtual reality headsets, says analyst Anna Woods.

Business Insider

Walmart just signaled a terrifying new reality for American retail

The growth of online retailers, especially Amazon, has made shopping trips less appealing. Just as mall traffic has decreased (Fung Business Intelligence Centre estimates that the average American now visits a mall three to four times a year, as opposed to five to six times a few years ago), visits to big-box retailers are also dropping.

Furniture Today

Economic Outlook: Furniture headed for ‘disruption’?

Fung Intelligence Report says macroeconomic outlook good, 'disruptive' models on the horizon | The macroeconomic outlook for the home furnishing industry is good, fueled by rising GDP, a healthy employment market and a housing market that is recovering, although unevenly, according to the Fung Business Intelligence Centre. However, the Centre pointed to recent “signs of softness” in the housing market that could dampen industry prospects and its recent Deep Dive into the Furniture Industry Report, noted that, “The road to a full recovery will not be as smooth as it seemed at the beginning of 2015.”

CNBC

Leading Retailers to Offer Insights About What’s “IN”

The Terry J. Lundgren Center for Retailing at the University of Arizona today announced the 2023 presenters at its 20th Annual Global Retailing Conference, April 14-15 at Loews Ventana Canyon Resort in Tucson. Speakers for the event include: ... Anna Woods, Executive Director, Fung Business Intelligence Centre ...

Forbes

Prosper Consumer Confidence Is Off, How Will It Impact Spending?

This month, Anna Woods, Executive Director, Head Global Retail & Technology, Fung Business Intelligence Centre, has provided comments on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Prosper Mood Index.

Ngành mua s?m chuy?n mình tr??c c?n bão tr?c tuy?n

“? Hoa K?, các khu mua s?m trong gi?ng h?t nh? cách ?ây 20 n?m,” Anna Woods, giám ??c qu?n tr? Fung Business Intelligence Centre cho bi?t, “Chúng tôi ?ang làm cho chúng tr? nên thú v? h?n, ph?n khích, vui nh?n, và nhi?u kinh nghi?m mua s?m h?n.”

Ngành mua sắm chuyển mình trước cơn bão trực tuyến

“Ở Hoa Kỳ, các khu mua sắm trong giống hệt như cách đây 20 năm,” Anna Woods, giám đốc quản trị Fung Business Intelligence Centre cho biết, “Chúng tôi đang làm cho chúng trở nên thú vị hơn, phấn khích, vui nhộn, và nhiều kinh nghiệm mua sắm hơn.”

Business Insider

China is building malls of the future that could come to the US soon

“In the US, the malls look exactly the same they did 20 year ago,” Anna Woods, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.” Changing consumer tastes and the rise of e-commerce means shoppers are visiting malls less and less, with Weinswig reporting that the average American now visits a mall three to four times a year, as opposed to five to six. To compete with online shopping, malls need to match e-commerce in convenience and create experiential reasons to visit the mall that you cannot find online.

The Daily News - Jacksonville, NC

China is building malls of the future that could come to the US soon

High-end, futuristic malls in China and parts of the US are upgrading technology, hoping to attract customers with “smart” shopping centers. “In the US, the malls look exactly the same they did 20 year ago,” Anna Woods, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.”

Chron

China is building malls of the future that could come to the US soon

High-end, futuristic malls in China and parts of the US are upgrading technology, hoping to attract customers with “smart” shopping centers. “In the US, the malls look exactly the same they did 20 year ago,” Anna Woods, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.”

Smyrna-Clayton Sun-Times

China is building malls of the future that could come to the US soon

High-end, futuristic malls in China and parts of the US are upgrading technology, hoping to attract customers with “smart” shopping centers. “In the US, the malls look exactly the same they did 20 year ago,” Anna Woods, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.”

telegram.com

China is building malls of the future that could come to the US soon

High-end, futuristic malls in China and parts of the US are upgrading technology, hoping to attract customers with “smart” shopping centers. “In the US, the malls look exactly the same they did 20 year ago,” Anna Woods, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.”

RIS News Insights

Epic and Inside Stuff from the NRF Big Show 2023

Smart Quotes from Smart People: “What predictive analytics is able to do for you is to find out where the low hanging fruit is, where the strongest correlations are that can be acted on for the least amount of effort.” – Anna Woods, Fung Business Intelligence Center

Business Spectator

How to attract more Chinese tourists to Australia

However, the number of Chinese visiting in Australia is a drop in the bucket compared to the total number of Chinese tourists globally. 100 million Chinese travelled abroad last year and that number is set to increase to 234 million within this decade, according to Fung Business Intelligence Centre.

MediaPost

Holiday Sales Stronger Than Expected?

With comScore reporting plenty of billion-dollar e-commerce days offsetting those potential brick-and-mortar declines, “our estimate of 3% - 4% sales growth appears to be on track,” writes Anna Woods, executive director and head of global retail and technology for the Fung Business Intelligence Centre. Fung’s research, conducted in the final days of the holiday selling season, indicates that online’s power this season was dramatic, with some 60% of its respondents saying they were doing most of their shopping online, and two in ten saying they’d use their mobile device for some purchases. It also confirmed the trend toward earlier shopping, with 48% of the survey saying they began before Black Friday. And 16% even said they planned to keep shopping after the holiday, indicating an even wider spread of the holiday season.

Global Cosmetics News

2015 in review: The future is consolidation

Consolidation is the key to future growth, or so says Fung Business Intelligence Centre’s Executive Director – Head of Global Technology, Anna Woods: “Expect major consolidation and channel switching in less mature markets.” No wonder then, that this year has seen several key mergers and acquisitions in every sector of the beauty industry.

China Daily

Road of the gypsy leads to top table

Over 140 Marriott-branded hotels are in the pipeline across the Chinese mainland, Hong Kong and Macao. On the mainland, outbound travelers in the first half of 2015 totaled 61.9 million, up 12.1 percent on-year over 2014. That number is expected to reach 234 million by 2020. According to a report by consultancies China Luxury Advisors and the Fung Business Intelligence Centre, overseas spending by Chinese tourists is expected to rise 23 percent this year to $229 billion, and will nearly double to $422 billion by 2020.

Sourcing Journal

What’s Happening in Retail’s Holiday Homestretch?

The holiday retail season hasn’t been the best for retailers this year—consumers are particularly price sensitive, websites are crashing under the weight of e-orders and the weather just won’t cooperate. And traffic hasn’t been all that great either. In a recent webinar, Anna Woods, executive director and head of global retail and technology at the Fung Business Intelligence Centre (FBIC) and Evan Gold, EVP of global services at weather analytics firm Planalytics, discussed the state of holiday retail and the outlook for the remaining days of 2015. Retailers were generally pleased with Black Friday sales, which definitely favored e-commerce, Weinswig said, even despite the dip in traffic. Sales from then to Cyber Monday totaled $11.1 billion, a 17 percent year over year jump, according to the Adobe Digital Index. “Brick-and-mortar foot traffic was down 5.1% Thanksgiving weekend,” Weinswig said. “I think that number will start to be even more exaggerated as we get through the holiday season.”

The Baltimore Sun

Baltimore companies jump on the subscription box bandwagon

Some Baltimore-area retailers have begun launching monthly subscription boxes to supplement their existing sales, and others are establishing entire businesses based on the model. Birchbox, the beauty box company that helped spark the subscription trend when it was founded in 2010, for example, has more than 800,000 subscribers to the $10-per-month box. And that's just for one company in a field of thousands. According to a May report from the Fung Business Intelligence Centre's Global Retail and Technology division, the top 10 startups in subscription-based retail have raised more than $543 million in the last five years.

Livemint

The rise of the big spenders of China

A report from Fung Business Intelligence Centre and China Luxury Advisors predicts China’s outbound traveller numbers will grow to 234 million passengers by 2020, up from more than 100 million in 2014. The same report says that overseas spending by Chinese tourists will rise by 23% this year to $229 billion, and it will more than double by 2020 to $422 billion.

Reuters

In retail slump, HK jeweller lets clients try before they buy

Online luxury jeweller Plukka is going door-to-door to beat the worst retail downturn in more than a decade in Hong Kong, where some of the world's most expensive commercial rents and plunging sales are corroding earnings of much larger rivals. The start-up, which aims to go public in Australia on Friday via a A$10 million ($7 million) back-door listing, has taken a leaf from video-on-demand service Netflix Inc and cosmetics company Avon Products Inc, offering customers to try before they buy. Anna Woods, head of global retail and technology at Fung Business Intelligence Centre, said Plukka's combination of online and physical shopping could be a game-changer for the jewellery sector.

Women's Wear Daily

Bloomingdale’s Says ‘Aloha’ to Hawaii

New Bloomingdale's location in Hawai'i's Ala Moana Center will feature exclusives, mirrors with touch-screen lighting help, and charging stations in fittings rooms. "There are indications that the tourist situation could improve. For example, spending by Chinese tourists is expected to jump 23 percent this year to $229 billion, eclipsing $200 billion for the first time, and reach $422 billion by 2020, according to a report from Fung Business Intelligence Centre Global Retail and Technology and consulting firm China Luxury Advisors." (Subscription to WWD required to read full article)

GlobeSt.com

Holiday Sales Seen Rising 3% to 4%

With all due respect to Elvis Presley, retailers could be in for a green Christmas this year rather than a blue one, according to holiday sales forecasts. Fung Business Intelligence Centre’s Anna Woods predicts an increase of 3% to 4% in consumer spending during November and December, in line with the International Council of Shopping Centers’ recent report that more Americans plan holiday-related purchases this year, for a year-over-year increase of 3.3%. See the full report here: www.fbicgroup.com/?q=publication/%EF%BF%BCus-holiday-2015-forecast-things-are-looking-holidays

The Wall Street Journal

Carnival Corp. Doubles Lines in China

In a piece on Carnival Cruise Lines, WSJ quotes our recent study on Chinese shoppers. "The Miami-based company is betting that tourism will grow in China even as the economy slows," China’s outbound traveler numbers are still increasing and are poised to double by 2020 to 234 million passengers, from more than 100 million last year, according to a recent report from consultants Fung Business Intelligence Centre and China Luxury Advisors."

China Daily

Chinese tourists expected to spend $422b overseas by 2020

China Daily reports on our recent study, "Chinese Shoppers Going Global". "No company wishing to remain a vital international force can afford to ignore the Chinese visitor."

The Times of London

China’s tourists lead the world in race to the shops

The Times covered our recent research on Chinese Overseas travel spending with China Luxury Advisors. Excerpt: "China’s economy may be slowing, but there is no sign that its tourists are tightening the purse strings, with a new report claiming that their overseas spending rose by 23 per cent this year to $229 billion, making them the world’s biggest shoppers. Moreover, that figure is expected to almost double to $422 billion by 2020, further extending the growing gap with American tourists, who are the next-biggest spenders abroad. The report by China Luxury Advisors, a consultancy, and the Fung Business Intelligence Centre, a retail and technology think tank, reflects the rapid expansion of China’s middle class."

WWD.com

“Report Cites Robust Chinese Tourist Spending” on September 22nd

WWD covered our recently released report "CHINESE SHOPPERS GOING GLOBAL" in their business article, and added figures from Global Blue data from Barclays to support the projections. See the full report here: https://www.fbicgroup.com/?q=publication/chinese-shoppers-going-global-fbic-global-retail-tech-and-cla-sept-22-2015

CNBC

Amazon selling items for less than on Prime Day

Anna Woods was quoted in this CNBC piece on Amazon Prime Day: "The product mix was somewhat esoteric, deals were too mundane and the website was difficult to navigate," FBIC analyst Anna Woods wrote after the event.

AP, Milwaukee Journal Sentinel

Kohl’s joins the buy-online, pickup-in-store strategy

Rick Romell of the Milwaukee Journal Sentinel coveres Kohls move to launch buy online, pick up in store. Anna Woods was quoted: "The company's decision to go more slowly than many other retailers into in-store pickup actually makes sense, said Anna Woods, New York-based head of global retail and technology research for Fung Business Intelligence Centre. "Kohl's is like a fast follower," she said. "And I think it pays off for them because they learn from others. They see what they've done and then they jump on the bandwagon."

NACS THE ASSOCIATION FOR CONVENIENCE & FUEL RETAILING

Retailers must master new, disruptive technologies to succeed.

The NACS writes about how technology is both disrupting and revitalizing retail, based on an FBIC report. Anna Woods is quoted: "“The marriage of retail and technology is rapidly changing the retail landscape and providing a plethora of new opportunities for brands, retailers and consumers. Consumer choices that were unimaginable ten years ago are now at our fingertips," said Anna Woods, FBIC executive director and head of global retail & technology. "Overcoming these obstacles will take time, but retailers that do not master new technologies will be victims of disruption rather than the disruptors,” Weinswig said.

Footwear News

Selling Shoes to China: An Opportunity for Global Footwear Brands

In a piece by Sheena Butler-Young for Footwear News, Anna Woods was quoted: The rise of households with middle class income and consumer demand for “lifestyle shopping” make China a prime market for American companies looking to sell globally. “China is the world’s largest online market,” said Weinswig, adding that robust e-commerce growth, a swelling online population and mobile shopping have lent support to e-commerce platforms.

Forbes

Massive Store Closings Will Reshape Retail Landscape As Online Newbies Take Over Locations

In a piece by Barbara Thau in Forbes, Deborah Wienswig was quoted on massive store closings: “The rapidly changing consumer purchasing patterns have forced retailers to relook at their business models, from store-fleet size to shopping apps,” according to “A Deep Dive Into The US Store Landscape,” a report by Fung Business Intelligence Centre, the research arm of the Hong Kong-based multinational Fung Group, led by Anna Woods, executive director and head of global retail and technology. It’s no secret that the U.S. landscape has been chronically overstored for years. For example, “the US has nearly 40% more retail square footage than its Canadian neighbors to the north,” the FBIC report said. Compounding that is double-digit e-commerce growth, which is eating into consumers’ shopping trips.