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atomi | Retail Consultancy | 15082024 Japan experienced a significant increase in economic activity due to strong local consumer spending and a weakened yen, making it a more appealing destination for tourists. Despite the strong currency in Singapore deterring some tourist groups, there are still positive aspects to anticipate. Single-brand stores continued to be the preferred choice for consumers seeking in-person shopping experiences. To adapt to returning travellers, brands must merge physical and digital experiences to maintain customer connections. Although foot traffic at large physical retail spaces like department and specialty stores has noticeably declined, we have observed a marked increase in tourist activity in our day-to-day operations. Retailers have had to reassess their roles and value propositions to meet consumer demands and stay pertinent in the face of the post-pandemic environment. While online sales have seen a decline, our company's websites have seen consistent growth. Online retailers focusing solely on e-commerce have resorted to increased markdowns to attract buyers and generate higher traffic. On the other hand, omnichannel brands must maintain a proactive approach to weather the stormy conditions brought on by these challenging times. www.atomi.shop #andrewtanatomisingapore #theatomiway #atomi

**Home Furnishing Going Global** China’s furniture export surged 39.8% YoY in early 2024, underscoring its leading position in global markets. Major destinations include the US, EU, Japan, and the UK, accounting for significant exports. Chinese companies are expanding through strategic acquisitions and establishing new factories despite facing integration challenges. Noteworthy moves include Kuka’s factories in Mexico and Vietnam and QuMei’s acquisition of Norway’s Ekornes. China's home furnishing industry is set for continued global growth with strategic investments, a growing distributor network, and leveraging cross-border e-commerce. The rise of platforms like TikTok is opening new opportunities for brands like Henglin Holdings, showcasing innovative products and gaining traction in international markets. #HomeFurnishing #GlobalExpansion #ChinaExports #FurnitureIndustry #BusinessGrowth #MarketTrends #InternationalTrade #GlobalMarkets #Investment #Manufacturing #CrossBorderEcommerce #TikTokMarketing

**Home Furnishing Going Global** China’s furniture exports shot up 39.8% YoY in early 2024, showing its strength in global markets. Top destinations include the US, EU, Japan, and the UK. Chinese companies are growing through strategic acquisitions and new factories, despite some challenges. Highlights include Kuka’s new factories in Mexico and Vietnam and QuMei’s big move buying Norway’s Ekornes. With smart investments, expanding distributor networks, and the power of cross-border e-commerce, China’s home furnishing industry is booming worldwide. Platforms like TikTok are also opening up fresh opportunities for brands like Henglin Holdings, making waves with innovative products. #HomeFurnishing #GlobalExpansion #ChinaExports #FurnitureIndustry #BusinessGrowth #MarketTrends #InternationalTrade #GlobalMarkets #Investment #Manufacturing #CrossBorderEcommerce #TikTokMarketing

Project Name: 𝐔𝐍𝐈𝐐𝐋𝐎 𝐊𝐚𝐰𝐚𝐠𝐨𝐞 𝐒𝐭𝐨𝐫𝐞 City: #Kawagoe Rating System: #LEED O+M: Existing Interiors Level: Gold Certification Date: November 2023 Project Admin: Woonerf Inc   The 𝐔𝐍𝐈𝐐𝐋𝐎 𝐊𝐚𝐰𝐚𝐠𝐨𝐞 𝐒𝐭𝐨𝐫𝐞, situated in Saitama Prefecture in Central Kanto, #Japan, stands as a prime example of Uniqlo's roadside locations, representing approximately half of the 800 UNIQLO locations in the country. These roadside stores follow standardized specifications, prioritizing high-quality materials, effective heat insulation, and simple designs to create enduring, energy-efficient retail spaces. In a noteworthy achievement, the 𝐔𝐍𝐈𝐐𝐋𝐎 𝐊𝐚𝐰𝐚𝐠𝐨𝐞 𝐒𝐭𝐨𝐫𝐞 secured LEED O+M Gold certification in November 2023, marking a significant milestone as the first retail outlet in Japan to attain this distinction.   Covering a certified area of 962 square meters, the 𝐔𝐍𝐈𝐐𝐋𝐎 𝐊𝐚𝐰𝐚𝐠𝐨𝐞 𝐒𝐭𝐨𝐫𝐞 earned accolades for its energy-saving initiatives, including a high-efficiency air-conditioning system, LED lighting adoption, and streamlined operations. The store also excelled in resource conservation through waste separation, installation of water-saving toilets, and maintaining air quality with appropriate air conditioning and circulation strategies.   UNIQLO prioritizes environmental considerations as a cornerstone of its sustainability efforts, actively working to reduce environmental impacts through thoughtful store designs and operations. According to Fast Retailing (UNIQLO's parent company)’s website, the brand plans to pursue LEED O+M certifications for other main roadside stores in Japan that adhere to the 𝐊𝐚𝐰𝐚𝐠𝐨𝐞 𝐒𝐭𝐨𝐫𝐞 standards. The insights gained from these initiatives will inform further measures to decrease the environmental footprint across its stores. Notably, UNIQLO has already achieved LEED O+M: Existing Interiors certifications for seven stores in Japan, pioneering sustainable practices in the industry.   #LEEDinNorthAsia #LEEDprojectdisplay #USGBC #greenbuildings #sustainabledevelopment

Cellini’s introduction to the South Korean market reflects the Singapore furniture label’s meticulously planned venture to establish a significant regional presence. “Our decision to enter the Korean market wasn’t made lightly. Extensive pre-pandemic research revealed a market brimming with potential,” Janice Tan, executive director of CELLINI, told Inside Retail Asia. According to the British Chamber of Commerce in Korea (BCCK), the country’s furnishing market value has doubled over the past five years and was projected to hit £12 billion by 2023. The market has seen major international brands, including Flying Tiger Copenhagen, Niko, H&M Home, and Zara Home bolstering their presence. Full article: https://lnkd.in/gXpBPzjY — Inside Retail Asia: https://insideretail.asia/ Inside Retail US: https://insideretail.us/ Inside Retail Australia: https://lnkd.in/ghHYwQxs Inside Retail New Zealand: https://lnkd.in/gqNrQSHN

Watch this 👇 to see more #intelligent, #ethical approaches to deploying #data to customers, that save on months of reprogramming, data #carbon #footprint, and challenge unnecessary cookies and GDPR popups. Total respect to Tane Piper, Katariina Kari, Aparna Ashok, Alexander Galt and Adam Keresztes of IKEA Inter-Global Systems for a major #breakthrough using #knowledge #graphs 🚀 Follow KGA - the Knowledge Graph Alliance for more breakthroughs

As the Business of Fashion recently stated: “Queuing is not a luxury experience”. Especially for the top 1% of luxury customers, who not only account for 10% of the market but are expected to continue growing, according to Boston Consulting Group. With luxury flagships expanding and embracing retail theatre – and even encouraging queues at their front door – it’s crucial to whisk VIC clients away from this hustle and bustle. Louis Vuitton is among the Big Luxury brands leading this, having just launched another of its Apartment concepts within its new Singapore boutique. Here, brands can deliver the one-to-one experience that these individuals expect, often blending retail with hospitality through: ▶ Design that fosters intimacy, calm, and inspiration, using members clubs and lounges as benchmarks ▶ Service that promotes high recognition and warmth, drawing on the expertise of luxury hospitality ▶ And backend systems that empower assistants to anticipate needs and facilitate seamless conversations between stores and on/offline channels All helping to ready these retail spaces to seize the big opportunity that lies in the small percentages.

Hong Kong Developer Hang Lung Expands Shanghai Mall to Tap into China’s Growing Luxury Market Hang Lung Properties, a Hong Kong-based developer, is set to expand its flagship mall, Plaza 66, in Shanghai’s West Nanjing Road, Jingan district, by 32,290 square feet by 2026. This move comes as part of the company’s strategy to tap into China’s growing luxury market, which is projected to surpass the US as the world’s largest luxury market by 2030, according to a report by PwC. Janice Cheung Lam-na, director of mainland business operations at Hang Lung, stated that the expansion aims to cater to the increasing demand for high-end luxury goods among Chinese consumers. The project, which has received approval from the local government, will introduce new experiences and stores previously unseen in China. The expansion will add approximately 3,000 square meters of gross floor area, accommodating 20 new stores. Hang Lung’s portfolio also includes Grand Gateway 66 in Shanghai. Amid China’s economic recovery efforts, driven by a focus on consumption, Hang Lung’s move reflects broader trends in the luxury retail... https://lnkd.in/dR9Sp75C

The concept of New Bahru, a groundbreaking project by Singapore hospitality firm The Lo & Behold Group, is set to redefine Singapore's retail landscape as it officially opens in phases, starting May 28. "There is something especially satisfying in creating a product that people can experience with every sense. Similarly, a brick-and-mortar flagship store, especially one with an experiential component, can greatly enhance how consumers interact with a brand. Beyond getting up close with the products and the people behind them, elements like scent, music, visual merchandising and workshops can help to bring the brand to life. Experiential retail also complements the reach and efficiency of e-commerce," says Rifeng Gao, COO at The Lo & Behold Group. FULL ARTICLE: https://lnkd.in/gunPRrzw #retailinasia #retailnews #LoandBeholdGroup #NewBahru #Singapore Subscribe to our bi-weekly newsletter:https://lnkd.in/dhj9z734

DNA OF IKEA:DESIGN ELEGANCE AND ECCENTRIC FRUGALITY. Chapter 3: Global Expansion IKEA's journey to becoming a global furniture giant began in the 1960s with its strategic expansion beyond Swedish borders. Ingvar Kamprad recognized the potential for his unique retail concept in international markets, and the first IKEA store outside of Sweden opened in Norway in 1963. This marked the beginning of a deliberate and calculated global expansion strategy. Throughout the 1970s and 1980s, IKEA continued to spread its reach, opening stores across Europe and eventually venturing into North America. The company's approach to expansion involved adapting its offerings to suit diverse cultural tastes while maintaining the core principles of affordability, functionality, and Scandinavian design. IKEA's entry into the United States in 1985 presented a unique set of challenges, as American consumers had different expectations and preferences compared to their European counterparts. Yet, IKEA's commitment to understanding local markets and tailoring its products accordingly allowed it to successfully establish a presence in the U.S. The global expansion not only broadened IKEA's customer base but also strengthened its supply chain and manufacturing capabilities. Establishing production facilities in different regions allowed the company to optimize costs and respond more effectively to regional demand. By the end of the 20th century, IKEA had become a truly international brand with a presence on multiple continents. The success of this expansion phase laid the foundation for IKEA's future as a global leader in the furniture and home goods industry. The company's ability to balance standardized offerings with adaptation to local markets became a key factor in its sustained growth and prominence worldwide. #startup #ikea #retail