Latest news with #retailTrends
Yahoo
4 days ago
- Business
- Yahoo
Gen Z forecast to become most loyal purchasers of private label
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: By mid-2026, Gen Z is projected to spend more on private label brands than other generations, according to a new report from Numerator. By that time, Gen Z is project to spend 18.4% of their consumer packaged goods and general merchandise budget on private label brands, outspending baby boomers (18.3%), millennials (17.5%) and Gen X (17.2%). Private label products from brands and retailers like Ulta Beauty, Wild Fable, Trader Joe's and Costco's Kirkland Signature are popular among Gen Z shoppers, per the report. Though Gen Z consumers are forecast to spend more on private label, the cohort has concerns about quality, retailer trust, packaging and design of such brands, according to the report. Dive Insight: Though Gen Z previously had hesitation around buying private label products, their budgets and changing perception of store brands are driving an increased consumption of items the category. The category is opening the door for younger consumers to obtain affordable luxuries, per the report. Beyond the lower prices that private label brands offer, Gen Zers are associating these brands with 'innovation, trendiness, and premiumization,' according to Numerator. 'In a retail landscape shaped by economic headwinds, generational turnover, and changing definitions of value, private label brands are emerging not only as budget-friendly alternatives but also as reflections of consumer values,' Numerator said in its report. 'And at the forefront of this shift is Generation Z.' Other research indicates that consumers overall are increasingly seeking store brands. Last year, private label brand sales reached a record high of $271 billion, according to Circana data cited by the Private Label Manufacturers Association. While national brand sales rose 1% last year compared to 2023, private label sales saw a 3.9% bump during that period. Inflation is one of several factors driving price-conscious consumers to purchase private-label products, according to another Circana study. Gen Z and younger millennials are leading the way with trying owned labels for the first time. As shoppers warm to store brand products, major retailers have introduced their own private label brands for a range of merchandise. Kohl's and Macy's have debuted their own home goods brands this year, Lowe's recently introduced its Lowe's Essentials brand featuring items that sell for under $10. Meanwhile, Dollar General announced a plan to add around 100 new private brand products to its lineup, with a focus on its Clover Valley label. Walmart this week announced the debut of a private label apparel brand for tweens, dubbed Weekend Academy, wherein most products are priced below $15. Recommended Reading Millennials, Gen Z to spend the most on Halloween, study says Sign in to access your portfolio
UAE Moments
05-07-2025
- Business
- UAE Moments
UAE Ranks No. 1 Globally in Mobile Shopping for 2025
The UAE is now the world's top mobile shopping market, with 67% of consumers using their phones to shop, according to the 2025 Global Digital Shopping Index by Visa and PYMNTS. That's a 23% jump since 2022, putting the UAE ahead of tech-savvy countries like Singapore, the UK, and Brazil when it comes to mobile-first retail. Biometrics and Convenience Drive Growth UAE shoppers aren't just tapping "Add to Cart"—they're also leading in secure payments. Around 32% use fingerprint or face recognition to complete purchases, nearly double the global average. Plus, 53% of shoppers are blending their experiences by combining in-store visits, mobile browsing, and online checkouts. What UAE Shoppers Really Want The study also revealed what shoppers in the UAE look for when they buy: Unsurprisingly, millennials and Gen Z are driving this trend, while older shoppers are less likely to use their phones at checkout. UAE's Digital Economy Keeps Rising
Arab News
24-06-2025
- Business
- Arab News
Petcare and snacking help Saudi consumer spending remain resilient: NielsenIQ
RIYADH: Consumer spending in Saudi Arabia remained resilient in the year to March, with outlays on low-cost goods rising 3.3 percent, according to a new report by NielsenIQ. The analysis by the consumer intelligence company showed that spending on tech and durables also rose by 0.2 percent. The findings are in line with data recently released by the Saudi Central Bank, which showed that Saudi consumer spending hit an all-time high in March, surging 17 percent to SR148 billion ($39.45 billion) — the highest monthly figure since May 2021 — before easing to SR113.9 billion in April. The trend is further supported by the increased use of digital point-of-sale transactions and rising e-commerce activity through Mada card payments. In NielsenIQ's report, Andrey Dvoychenkov, general manager at the firm, credited the strategic visions and initiatives across the region for helping to drive continued economic momentum. 'We're seeing strong growth in both premium and value segments, and a rapid evolution in retail channels — especially online. For brands, success hinges on relevance, agility, and a deep understanding of consumer expectations,' Dvoychenkov added. The report also revealed that in the UAE spending on so-called fast-moving consumer goods climbed 7 percent, while tech and durables outlays reached $5.3 billion — up 2 percent year on year. Top product trends In Saudi Arabia, category performance pointed to changing consumption priorities. Petcare saw the strongest growth at 10 percent, followed by snacking at 9 percent, while paper products and home care posted declines. The UAE's fast-moving consumer goods growth was driven by higher spending on snacking, beverages, dairy, and frozen foods, with personal care up 6 percent. Growth in tech and durables was led by smartphones, media tablets, vacuum cleaners, and headsets. Retail formats are evolving, with traditional trade channels in the UAE posting 10 percent growth in fast-moving consumer goods — outpacing organized retail at 3.2 percent — while tech and durables growth remained evenly distributed across formats. E-commerce continues to expand, accounting for 30 percent of sales of tech and durables and 11 percent of fast-moving consumer goods in the UAE — up from 9 percent a year ago. In Saudi Arabia, tech and durables e-commerce sales rose 7.7 percent, and fast-moving consumer goods' online share increased by 1.4 percentage points. More choice for consumers NielsenIQ's latest report showed that Saudi Arabia is now home to over 10,500 active brands, up 5 percent year over year, and nearly 100,000 stock keeping units, or SKUs. In the UAE, brand count rose 6 percent to 13,000, with SKUs reaching 130,000. In tech and durables, brand activity expanded 18 percent in the UAE and 21 percent in Saudi Arabia, with both markets seeing SKU growth of more than 50 percent. Consumer spending is increasingly polarized between value and premium segments. Both Saudi Arabia and the UAE recorded double-digit growth in these areas within fast-moving consumer goods. In tech and durables, value-focused categories grew 6 percent in Saudi Arabia and 3 percent in the UAE, underscoring a heightened sensitivity to price and increased availability of cost-effective options. The NielsenIQ's findings backup a 2024 joint report by UAE-based gifting marketplace Flowwow and partner marketing platform Admitad which showed that online order volumes rose by 9 percent in Saudi Arabia and 7 percent in the UAE, highlighting the foundational strength of digital consumer activity in both markets. An analysis of over 6.8 million transactions across the Middle East and North Africa placed Saudi Arabia, the UAE, and Kuwait among the top contributors by gross merchandise value, reflecting high levels of consumer engagement and sustained investment in digital channels. Consumer confidence high Saudi Arabia's growth aligns with continued positive readings in consumer sentiment. The May 2025 Primary Consumer Sentiment Index, released by Ipsos, recorded a score of 72.2, marginally down from 72.4 in April. The Kingdom remains among the top-performing countries globally on key economic indicators, with 64 percent of respondents rating the current economy as strong. Additionally, 40 percent said their personal financial situation is strong, and 77 percent felt more confident about their ability to invest in the future compared to six months ago. Looking ahead, 84 percent expect their local economy to strengthen over the next six months, though confidence in job security has softened slightly, particularly among resident Arab and Asian expatriates. The region's growing economic appeal has intensified competition, particularly in the fast-moving consumer goods sector. As economic growth in the Gulf continues to outpace the global average — 3 percent for Saudi Arabia and 4 percent for the UAE in 2025, compared to 3.2 percent globally — brands face a growing need to adapt strategies to navigate a digitally connected, value-conscious, and increasingly competitive consumer environment.
Yahoo
03-06-2025
- Business
- Yahoo
Customer service is collapsing in high-tax Britain
Want to pick up some groceries after a late night at the office? Forget it. Or, if you can get to a supermarket, fancy grabbing a coffee after traipsing around with a couple of kids? It's no longer possible. Trying on a pair of jeans at the clothes shop? Good luck finding someone to help you. One by one, companies are cutting back on opening hours, reducing checkout staff and cutting in-store services. Many are closing branches completely. Following the huge rise in employment taxes imposed by the Government, bosses don't have much choice. Companies have to save money on staff somehow. But with every cut they make, the experience gets a little worse. In Labour's high-tax Britain, customer service is dying – and we will all end up poorer as a result. It has been a worrying few weeks for anyone who cares about the quality of customer service. Self-checkouts are becoming more ubiquitous, opening hours are getting shorter and manpower is being cut back. Over the weekend, we learnt that Tesco is trialling the closure of some of its Express stores at 10pm rather than 11pm, and will have fewer staff on hand for the hours that they remain open. It is not hard to guess why: after Rachel Reeves's recent increase to employers' National Insurance, the company has said it will have to pay an extra £235m in contributions. That is just the latest example of a broader trend. The self-service checkout is proliferating even though it has become very unpopular with shoppers, and not just in the supermarkets. Next revealed earlier this year that it is to start trialling automated checkouts as it looks to find ways of coping with the extra £67m the chain estimates it will have to pay in employment taxes this year. Others are slashing services. Morrisons said in March that it was closing down cafes in its stores, along with florists and specialist meat counters. Sainsbury's said that it would lose 3,000 jobs by closing down in-store cafes, bakeries and pizza counters. The National Insurance increase was not directly blamed but both chains said they had to reduce costs. There are even examples of pubs closing at 9pm so they can cut back on the staff hours, and therefore lower their tax bill. Add it all up, and one point is clear: the customer is no longer the number-one priority – bosses are more obsessed with managing costs. There is no point in blaming the big chains for these decisions. After all, they are all commercial companies, and their primary duty is to their shareholders. If the Government is determined to tax them based on how many people they employ, instead of on their profits, then the only rational response is to skimp on staff as much as possible. We may only be seeing the start of the process. Before long, there will be QR codes in place of waiters and waitresses at restaurants (after all, in fast food places it is already almost impossible to place an order with a human being any more). Get ready for self-serving beer kegs at your local 'Spoons, while an app will check you into your hotel room, and the estate agent will just send you an AI-generated video link over actually showing you around the new home you were thinking of buying. It won't be possible to interact with a human being any more. Conventional economic statistics don't capture the impact of all this on our day-to-day lives. If you spend £200 at the supermarket, that is an extra £200 added to the total GDP figure regardless of whether you had to struggle with a self-service checkout for 20 minutes or if you were whisked through the till by a smiling sales assistant who chatted to you and wished you a pleasant day as you left. It may not make a difference to the economists but it makes a big difference to you. Likewise, it doesn't make any difference to GDP if you have to rush out of the house or your office to get to Tesco Express at one minute to 10 because you don't have any food and it will close soon. But again, it makes a big difference to you. A successful economy is not just about maximising raw output. It is about maximising total consumer satisfaction. As service levels collapse, GDP may stay the same, but we are all worse off in ways that the figures don't reveal. More worryingly for the GDP statistics, companies can't innovate. The most successful businesses find new and original ways of delighting their customers. It might be by staying open for different hours, or offering a broader range of services or products, or a more complete experience, or all sort of things that we have not thought of yet but which might prove very popular. The best ideas can then be taken out to the rest of the world. And yet instead of encouraging companies to try out new ideas, we are forcing them to put all their energy into cutting staff. Over time, that will impact the competitiveness of the British economy. The Chancellor may or may not raise the extra £25bn she is expecting from her increase in employers' National Insurance contributions. We will find out over the next few months as the tax starts to bite. But the costs of the tax raid are becoming painfully clear. It will be measured in fewer jobs, lower wages, higher inflation and, perhaps worst of all, in a country characterised by poor service and declining innovation. When you find the doors to Tesco Express closed at 10.01pm, at least you will know who to blame. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
03-06-2025
- Business
- Telegraph
Customer service is collapsing in high-tax Britain
Want to pick up some groceries after a late night at the office? Forget it. Or, if you can get to a supermarket, fancy grabbing a coffee after traipsing around with a couple of kids? It's no longer possible. Trying on a pair of jeans at the clothes shop? Good luck finding someone to help you. One by one, companies are cutting back on opening hours, reducing checkout staff and cutting in-store services. Many are closing branches completely. Following the huge rise in employment taxes imposed by the Government, bosses don't have much choice. Companies have to save money on staff somehow. But with every cut they make, the experience gets a little worse. In Labour's high-tax Britain, customer service is dying – and we will all end up poorer as a result. It has been a worrying few weeks for anyone who cares about the quality of customer service. Self-checkouts are becoming more ubiquitous, opening hours are getting shorter and manpower is being cut back. Over the weekend, we learnt that Tesco is trialling the closure of some of its Express stores at 10pm rather than 11pm, and will have fewer staff on hand for the hours that they remain open. It is not hard to guess why: after Rachel Reeves's recent increase to employers' National Insurance, the company has said it will have to pay an extra £235m in contributions. That is just the latest example of a broader trend. The self-service checkout is proliferating even though it has become very unpopular with shoppers, and not just in the supermarkets. Next revealed earlier this year that it is to start trialling automated checkouts as it looks to find ways of coping with the extra £67m the chain estimates it will have to pay in employment taxes this year. Others are slashing services. Morrisons said in March that it was closing down cafes in its stores, along with florists and specialist meat counters. Sainsbury's said that it would lose 3,000 jobs by closing down in-store cafes, bakeries and pizza counters. The National Insurance increase was not directly blamed but both chains said they had to reduce costs. There are even examples of pubs closing at 9pm so they can cut back on the staff hours, and therefore lower their tax bill. Add it all up, and one point is clear: the customer is no longer the number-one priority – bosses are more obsessed with managing costs. There is no point in blaming the big chains for these decisions. After all, they are all commercial companies, and their primary duty is to their shareholders. If the Government is determined to tax them based on how many people they employ, instead of on their profits, then the only rational response is to skimp on staff as much as possible. We may only be seeing the start of the process. Before long, there will be QR codes in place of waiters and waitresses at restaurants (after all, in fast food places it is already almost impossible to place an order with a human being any more). Get ready for self-serving beer kegs at your local 'Spoons, while an app will check you into your hotel room, and the estate agent will just send you an AI-generated video link over actually showing you around the new home you were thinking of buying. It won't be possible to interact with a human being any more. Conventional economic statistics don't capture the impact of all this on our day-to-day lives. If you spend £200 at the supermarket, that is an extra £200 added to the total GDP figure regardless of whether you had to struggle with a self-service checkout for 20 minutes or if you were whisked through the till by a smiling sales assistant who chatted to you and wished you a pleasant day as you left. It may not make a difference to the economists but it makes a big difference to you. Likewise, it doesn't make any difference to GDP if you have to rush out of the house or your office to get to Tesco Express at one minute to 10 because you don't have any food and it will close soon. But again, it makes a big difference to you. A successful economy is not just about maximising raw output. It is about maximising total consumer satisfaction. As service levels collapse, GDP may stay the same, but we are all worse off in ways that the figures don't reveal. More worryingly for the GDP statistics, companies can't innovate. The most successful businesses find new and original ways of delighting their customers. It might be by staying open for different hours, or offering a broader range of services or products, or a more complete experience, or all sort of things that we have not thought of yet but which might prove very popular. The best ideas can then be taken out to the rest of the world. And yet instead of encouraging companies to try out new ideas, we are forcing them to put all their energy into cutting staff. Over time, that will impact the competitiveness of the British economy. The Chancellor may or may not raise the extra £25bn she is expecting from her increase in employers' National Insurance contributions. We will find out over the next few months as the tax starts to bite. But the costs of the tax raid are becoming painfully clear. It will be measured in fewer jobs, lower wages, higher inflation and, perhaps worst of all, in a country characterised by poor service and declining innovation. When you find the doors to Tesco Express closed at 10.01pm, at least you will know who to blame.
