Despite the slowdown in spending and the Chinese government's crackdown on luxury giving, consumer confidence remains high.
According to The China Luxury Forecast, released by Ruder Finn and Ipsos Group, 90 percent of the approximately 2,000 respondents plan to increase or maintain their spending on luxury goods, reports China Daily. However, luxury spending patterns in China are changing.
Automated check-in kiosks are on average 25 percent faster than human interaction while automated bag drop machines process 60 per hour versus 24 per hour the old-fashioned way, according to research by airport technology provider SITA.
The head of Future Group, one of India's largest and most established retailers, admits he can't keep up with web sites like Snapdeal and Flipkart when it comes to spending money to entice shoppers to buy online.
Private investors have poured USD2.3 billion into India's e-commerce companies so far this year, according to consulting firm Technopak, giving them financial firepower to overwhelm shoppers with bargains and deals that brick-and-mortar retailers like Future Group, which runs a host of chains including Future Retail Ltd and Future Lifestyle Fashions, cannot match.
Alibaba Group’s Single’s Day sale (also known as 11.11 online shopping festival) set record breaking sales of USD9.3 billion, up from last year’s USD5.8 billion finish.
“On behalf of our entire ecosystem — from millions of buyers and merchants both here and abroad — we are very happy with the results of this year’s 11.11 shopping festival,” said Jonathan Lu, CEO of Alibaba Group.
“Alibaba is humbled to play a role in making it easy for people to do business anywhere," he added.
Convenience store owners and operators in Australia are preparing to fight hard to stave off the advances of major supermarkets in a land grab for smaller, inner city stores.
Woolworths has thrown down the gauntlet to the corner stores in Sydney with an application to redevelop 302-306 Elizabeth Street in Surry Hills into a two-level convenience-style supermarket complete with an internal coffee shop that can trade 24 hours, seven days a week.
Dick Smith wants 450 stores across Australia and New Zealand by 2017 and a greater online presence.
Dick Smith plans to open 20 new shops each year and for its online business to generate 10 percent of its sales.
It also wants its private label to supply 15 percent of its sales by the 2017 financial year, company chairman Phil Cave told shareholders at its annual general meeting on Wednesday.
Pro-democracy protests paralyzing the center of Hong Kong will deal another blow to retailers already suffering as wealthy mainlanders pare their spending. Hong Kong’s economy relies on spending from rich Chinese to keep it ticking along. But a crackdown on corruption led by President Xi Jinping has led to a slowing in the kind of conspicuous consumption that led to sky-high sales of Gucci bags and Prada shoes in Hong Kong in recent years.
Chinese luxury footwear brand Stella Luna is looking to step out of their comfort zone and into more European markets. After seeing the success of their flagship Parisian store in the Saint-Germain district, three more stores are currently in the works.
Stella Luna has confirmed that two more flagships will open in Paris; one in September on Rue du Faubourg Saint Honoré, and a second near the Champs Élysées. Both locations are in popular shopping destinations and are expected to yield high-traffic and high-profile clientele.
With easing political tensions the past couple months, major retailers have resumed their business and marketing plans the rest of the year.
Siam Centre will introduce a new multi-fashion zone while Foodland Supermarket plans to open a new branch on Phetkasem Road and Robinson Department Store expects to add six new stores.
Thailand's Central Group expects its retail sales in the last four months of this year to outpace first-half performance with the interim government returning economic stability, which is increasing consumer spending.
Chief executive Tos Chirathivat sees strong signs of economic growth after sales and visitors jumped starting in July. Investors, tourists and consumers have been more confident since the 22 May coup, driving spending sentiment across the board, he said.