Reasons to Read

Total UK retail sales further declined in April—as we predicted in our March monthly sales report—largely due to the enforced closure of nonessential retailers due to the coronavirus pandemic. However, deep declines conceal a meaningful retention of sales through e-commerce.

We review the monthly data for UK retail in total and by sector:

  • We chart the trend in total value and volume retail sales growth over the last 13 months.
  • We show value sales growth for 20 sectors across food and nonfood retail, for each of the latest three months.
  • We discuss growth in online retail sales, by major sector.

Coresight Research’s monthly reports keep you up to date on US and UK retail sales, US retail traffic and in-store metrics, selected US retailers’ same-store sales and key global consumer indicators. Click here to view our full collection of monthly reports.

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Reasons to Read

Our weekly Earnings Insights reports feature highlights from recent management commentary at major US retailers within our Coresight 100 coverage list, as they report first-quarter 2020 earnings. We condense what retail companies are reporting regarding the following key content, with a focus on the impact of the coronavirus crisis:

  • Management commentary on demand trends in the first quarter and subsequent weeks (where reported)—including comparable sales growth, details on consumer demand by category or channel and qualitative insights
  • Sales retention rates through e-commerce as nonfood retailers have been forced to temporarily close nonessential stores
  • Details on early performance of reopened stores, where these have been provided
  • The outlook for demand, as reflected in revenue guidance or more qualitative commentary on the shape or strength of demand—helping to build a picture of what US retail expects the recovery in consumer demand to look like

This week, there are highlights from companies that reported in the weeks ended May 17 and May 24, including Best Buy, Kohl’s and VF Corporation.

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QUESTION OF THE WEEK: How Has the Coronavirus Pandemic Impacted Chinese Tourists’ Travel Plans?

In our April 2020 proprietary survey of Chinese tourists, around 87.2% of all respondents had canceled planned vacation trips due to the Covid-19 pandemic. Furthermore, 83.4% had changed their travel plans in other ways, of which 36.2% switched their trip destinations from international to domestic—representing a meaningful shift to domestic tourism.

Reasons to Read

Coresight Research’s May 20 survey provides a detailed update on US consumers’ behaviors, concerns and expectations amid the coronavirus crisis, with a focus on the implications for US retail.

We discuss a number of survey findings on expected behavior after lockdowns end, including:

  • What consumers expect to do in the month after lockdowns end—such as shopping, dining out, grooming and socializing.
  • Whether respondents expect to avoid public areas or travel once lockdowns end—and which types of places or travel they will avoid.
  • How long consumers expect to avoid public places or travel for.
  • When respondents expect their purchasing levels to return to normal.
  • How long consumers expect the impacts of the Covid-19 crisis to last in the US.
  • Whether respondents expect to retain behaviors from the coronavirus outbreak period—and if so, which behaviors and for how long.

We also provide trended data for a number of our regular weekly questions on spending and shopping:

  • Whether respondents are buying more or less of any retail categories as a result of the Covid-19 outbreak and, if so, which types of products; we provide trended data for a number of categories such as apparel, beauty and furniture/home products.
  • Whether US shoppers are making more purchases online during the coronavirus outbreak and, if so, which categories.
  • We also asked respondents about their concerns surrounding job and income prospects.

The findings provide an update to our previous reports, which were based on surveys undertaken on May 13, May 6, April 29, April 22, April 15, April 8, April 1, March 25 and March 17–18. We provide week-over-week comparisons for most metrics.

If you do not have a premium subscription, you can access select findings in a complimentary abridged report.

In addition to this survey, click here to view additional coverage of the coronavirus outbreak.

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Reasons to Read

This report provides select findings from Coresight Research’s May 20 survey of US consumers on the coronavirus crisis. We asked respondents about the impact of the pandemic on their behaviors and expectations, with a focus on implications for retailers.

This report is available for free and can be accessed by registering for a free account. Selected findings in this report include:

  • What activities consumers most expect to do once lockdowns end.
  • Whether consumers expect to avoid public places or change travel arrangements once the coronavirus lockdowns are eased and businesses reopen—we look at week-over-week changes.
  • US shoppers’ expectations of the length of the outbreak’s impact on everyday life in the US—we show the trend over the past nine weeks.

Our full report is available to premium subscribers and includes further findings:

  • The types of places respondents expect to avoid after lockdowns end, and how long consumers expect to retain avoidance behaviors for.
  • When respondents expect their spending levels to return to normal.
  • Whether respondents expect to retain behaviors from the coronavirus outbreak period—and if so, which behaviors.
  • How long consumers expect the impacts of the Covid-19 crisis to last in the US.
  • Whether respondents are buying more or less of any retail categories as a result of the Covid-19 outbreak and, if so, which types of products.
  • Whether US shoppers are making more purchases online during the coronavirus outbreak and, if so, which categories.
  • We also asked respondents how worried they were about the outbreak and about their concerns surrounding job and income prospects.

Our latest research provides an update to our previous reports, which were based on surveys undertaken on May 13, May 6, April 29, April 22, April 15, April 8, April 1, March 25 and March 17–18.

In addition to this survey, Coresight Research is publishing ongoing coverage on the coronavirus outbreak, which can be accessed here.

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Reasons to Read

In each report in the Weinswig’s Weekly series, Coresight Research CEO and Founder Deborah Weinswig reflects on a topical theme in retail. This week’s note “From the Desk of Deborah Weinswig” looks at the return of brick-and-mortar retail in the US as stores reopen following Covid-19 shutdowns.

Each report also includes recent retail and technology headlines from Asia, Europe and the US.

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Reasons to Read

Our Weekly US and UK Store Openings and Closures Tracker reports on store closures, openings and bankruptcies. We cover:

  • What is happening in retail in the US and UK this week
  • Year-to-date 2020 major US and UK store openings and closures
  • 2020 major US retail bankruptcies
  • New non-store-closure news

This week, there are highlights from JCPenney, Nordstrom and Pier 1 Imports in the US and Antler and Johnson Shoes Company in the UK. We also discuss quarterly store opening and closure settlements following the release of quarterly company filings this week.

Click here to view our full collection of Weekly US and UK Store Openings and Closures Trackers.

Complementing our weekly Tracker report, the Coresight Research Retail Store Databank offers our premium subscribers access to openings and closures data from 2012 to 2020 year to date, filterable by sector and year. Click here to view.

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Reasons to Read

To stimulate the economy and encourage consumers to release pent-up demand post Covid-19, the Shanghai Municipal People’s Government co-launched a new, large-scale shopping holiday with the retail industry at the beginning of May 2020.

We discuss the potential of the 55 (Double Five) Shopping Festival to drive discretionary spending in Shanghai throughout May and June, exploring the following:

  • The scale and impact of the two-month-long Double Five shopping season—including early success for Shanghai merchants from the launch of the festival on May 4–5
  • The omnichannel approach—including the participation of e-commerce platforms such as Alibaba’s Tmall and Pinduoduo in generating traffic to brick-and-mortar retail
  • The focus on “shopping and tourism”—how Double Five is driving purchasing behavior in the tourism sector

Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak.

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Reasons to Read

Coresight Research’s quarterly report series keeps you up to date on the latest economic data from the US and China.

In this report, we look at how the global coronavirus crisis has significantly impacted both economies in the first quarter of 2020, discussing the following key metrics:

  • Quarter-over-quarter changes in US GDP, industrial production and personal consumption expenditure
  • Quarter-over-quarter changes in China’s GDP, industrial production and per capita expenditure

Click here to read the previous report in this series, from February 2020.

Click here to read our latest report on key consumer indicators in the US, China and the UK—part of our Monthly Consumer Update series.

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Reasons to Read

Since the outbreak of the coronavirus, many businesses have ceased accepting cash as payment in order to minimize contact and thus reduce the risk of spreading the virus. We discuss recent developments in mobile payment technologies, the adoption of which is being driven by changing consumer expectations in the current environment.

We consider the rise of contactless payments globally, before discussing the following:

  • China’s Digital Currency Electronic Payment pilot program
  • Facebook’s Libra cryptocurrency project
  • The Venmo mobile payment system, with increased limits and functionality
  • The introduction of facial recognition as a payment method in Asia
  • Wirecard’s team-up with Stampay to offer contactless payment options

Click here to read more about new payment technologies.

Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak.

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Reasons to Read

On May 20, 2020, John Harmon, Senior Analyst at Coresight Research, presented a wrap-up of the first quarter of 2020 at a virtual webinar hosted in partnership with business weather intelligence firm Planalytics.

This presentation covers the following:

  • Spring retail update
  • Weather-driven recap
  • Weather-driven outlook for the second quarter of 2020

Evan Gold, EVP of Global Partnerships at Planalytics also presented weather-driven insights for the quarter.

Click here to read more coverage of US retail sales.

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We present Three Things You Need To Know on Coronavirus Insights: US Survey Update—Here’s What Shoppers Expect To Do after Lockdowns End. Find the full report here.

 

Reasons to Read

Our quarterly Global Tourism series discusses domestic and international tourism themes and trends. In this report, we explore how the coronavirus crisis has impacted the behaviors and plans of Chinese travelers, based on findings from our recent proprietary survey, conducted in collaboration with China Luxury Advisors.

We discuss key insights into the following topics:

  • How Chinese travelers have changed their travel plans due to the coronavirus crisis
  • Expected spending changes on major tourism activities—including retail and sightseeing
  • The effects of the coronavirus on how Chinese tourists will travel after 2020
  • Year-over-year changes in China’s domestic tourism trips and revenue—and the signs of market recovery post Covid-19

Click here to read the previous report in the Global Tourism series, in which we explore the key factors contributing to the growth of the booming airport retail market.

Click here to read about the impacts of the coronavirus on China’s outbound tourism.

Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak.

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Reasons to Read

Each year, the IRS reports tax return filings and refunds on a weekly basis, starting at the end of January until the April 15 deadline. This year, the US Department of the Treasury extended the deadline to file (and more importantly, to pay) July 15.

In this report, we look at what happened in the 15th week of the 2020 tax filing season, including:

  • How the extended deadline has affected filings and refunds so far.
  • The impact of the coronavirus shutdown on IRS operations.
  • The current status of returns filed, processed and refunds issued.

Read the 2020 Tax Tracker for week 14 here, which also looks at Economic Impact Payments.

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We present Three Things You Need To Know: Coronavirus Insights—Three Post-Lockdown Consumer Trends in China. Find the full report here.