Business

For Mainland Chinese, appetite for HK shopping is waning

Source: 
red luxury

Mainland Chinese are still traveling to Hong Kong, but their appetite for shopping there has diminished.

Reports by the Hong Kong Retail Management Association show that visitors increased by 20 percent in March and April of this year, but retail spending fell by almost 10 percent.

Thailand's The Mall Group launches USD37m marketing push for 2Q

Source: 
Bangkok Post

The Mall Group, Thailand's number two retail chain, earmarked THB1.2 billion (USD36.9 million) for second-half marketing activities to drive 2014 sales to reach its THB50-billion target.

Executive vice-president Chamnarn Maytaprechakul said the group would separate marketing teams to handle campaigns for Siam Paragon, The Emporium and The Mall shopping malls, effective next month.

Having a specific marketing team will enable it to better understand customers and offer proper services, products and activities to match target buyers for these three retail stores.

Global companies set sights on India's e-commerce market

Source: 
The Hindu Business Line

Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.

Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.

FamilyMart to open 200 new stores in China

Source: 
Shanghai Daily

Convenience store chain operator FamilyMart is to open at least 200 new stores in China this year.

It will enter Beijing, Wuxi and Dongguan to tap into growing demand, remaining upbeat despite a general slowdown in consumer goods spending.

FamilyMart aims to enter one or two new cities each year over the next few years to drive sales growth in China, said Wei Yinheng, chairman of Ting Hsin International Group, FamilyMart's franchiser in China's mainland.

Lotte builds shopping malls in Indonesia on demographic play

Source: 
Jakarta Globe

Lotte Shopping, South Korea's largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30.

Lotte Shopping Avenue Indonesia will build two in Jakarta in the next three years, with the others in the country's second biggest city, Surabaya, and in Medan on Sumatra island, president director Suh Chang Suk said in an interview in the capital on Friday. There is a lot more potential for malls in the world's fourth-largest population, Suk said.

Robinsons Retail to spend USD592m through 2016 on expansion

Source: 
Manila Bulletin

Philippine billionaire John Gokongwei is scouting chains of mom-and-pop outlets to buy into faster-growing Philippine towns as part of a plan to compete with retail stores controlled by the nation's richest man, Henry Sy.

Robinsons Retail Holdings, Inc. is looking for family-owned grocery or pharmacy chains of three to eight outlets outside the capital Manila, President Robina Gokongwei-Pe said in an interview. It plans to spend PHP26 billion (USD592.4 million) through 2016 on expansion, said Chief Financial Officer Dong Zapata.

With more trips and longer stays, Chinese spending overseas skyrockets

Source: 
red luxury

Overseas spending by Chinese consumers has seen a 60 percent increase in the past three years.

A recent survey by UnionPay International, a unit of China UnionPay Co Ltd, examined the habits of Chinese consumers in 140 countries and areas of the world. The study showed that the compound annual growth rate of spending on dining was over 65 percent in the past year, and the CAGR of entertainment spending more than 60 percent. The CAGR of hotel spending was about 40 percent in the last three years.

Japan retailers target new big spenders – tourists

Source: 
CNBC

In ageing Japan, retailers are waking up to a hot new demographic: foreign visitors.

Driven by government tourism promotions and lately a weaker yen, the number of inbound travellers has quietly doubled in the past decade to top 10 million for the first time last year. In 2013, they spent USD14 billion on everything from powdered green tea to Prada handbags, to rare, red-coral rings.

China's Vipshop sees net income jump 326pc, active customers grow 129pc in 1Q14

Vipshop, a Chinese online retailer that sells quality branded items at discount, on Wednesday reported better-than-expected results for the first quarter ended on 31 March 2014. Total net revenues surged 125.9 percent over the prior year period to USD701.9 million, primarily driven by growth in the number of active customers and total orders. Active customers grew 129.3 percent from 2.8 million to 7.4 million and total orders rose to 20.2 million from 8.8 million last year.

City stores welcome new retail revolution in Australia

Source: 
The Sydney Morning Herald Online

The retail revolution in the Sydney and Melbourne central business districts has only just begun, according to commercial real estate agents.

Already the biggest and most popular chains are established and more are on their way, with the only impediment for vast and swift expansion finding the right stores and locations. But even that is not as hard as it was only a few years ago. And even the local retailers, who are the main targets, are welcoming the new arrivals as they are bringing back much-needed foot traffic.

Syndicate content