Business
Retail space absorption in Delhi-NCR down 92pc in 1Q
The retail space absorption in the National Capital Region of Delhi (Delhi-NCR) saw a decline of about 92 percent in the first quarter this year, making it the lowest absorption in the last 15 quarters mainly due to constraints in the availability of space.
The net take-up was around 50,700 square feet, 83 percent of which was contributed by the Suburbs, real estate research firm Jones Lang LaSalle said in its Asia-Pacific Property Digest for first quarter 2013.
Rakuten pins hope on 3G
Rakuten Tarad.com, Thailand leading e-commerce marketplace, has earmarked a marketing budget increase of 1,000 percent this year to chase rapid growth of e-commerce with the advent of the third generation (3G) mobile broadband market.
Pawoot Pongvitayapanu, founder and managing director of Rakuten Tarad.com, said the spending will cover TV advertising and other online activities.
Westfield sales flat amid soft spending
Westfield Group has reported flat sales from its Australian business in the first quarter, to 31 March, due to the timing of the Easter break and ongoing softness in consumer spending.
Rents on new leases, of about 2.2 percent of the group, were 5.1 percent lower. The group had signalled a potential decline in new lease deals at its full-year results in February.
The figures come as Sydney, Melbourne and Brisbane made a list of the top 10 global cities with the most expensive prime retail rents, according to CBRE research.
HK's Link Reit to concentrate its fire on retail property
The Link Real Estate Investment Trust will continue to buy mostly retail properties in Hong Kong, although its shareholders have endorsed an expansion of the range of assets it can acquire.
During The Link Reit's annual meeting last year, shareholders of the investment trust, which owns 182 retail and car park facilities in Hong Kong, approved an expansion of the scope of the asset classes it could buy to other types of commercial properties, such as industrial buildings, warehouses and mixed-use buildings.
Starbucks opens Japanese tribute store
Reporting record revenue and profit for its FY2012, Starbucks Coffee Japan commemorates nearly 17 years in market and approaching 1,000 stores
Continued strong growth momentum in Japan focuses on state-of-the-art store design, investment in partners (employees) and product and digital innovations
Starbucks Coffee Company reaffirmed its confidence in Japan recently with the visit of Starbucks chairman, president and CEO Howard Schultz and plans to open its 1,000th store this summer.
Gartner names 3 enablers for demand-driven retail success
Research firm Gartner has identified three key enablers of demand-driven retail - the role of the supply chain, span of control and metrics maturity - following a survey conducted across six retail segments in Asia-Pacific, North America, and Western Europe.
Thailand's Global plans 12 new stores
Siam Global House Plc, the Thai retailer of building materials and home improvement products, is spending THB2.6 billion (USD87.5 million) to open 12 new stores this year.
Five stores will open in the first six months including a 20,000-square-metre outlet now in operation in the northern province of Phrae.
With a focus on the Northeast and the North, Global plans to set up at least 12 branches a year with an average shopping area of 11,000 to 12,000 sq. m.
Taking Stock: Watami manages labor shortage with queuing kiosk
The high staff turnover and competing market is a common problem among retailers and restaurants. Japanese casual dining restaurant group Watami Group was no exception.
The popular Japan chain restaurant is often found with diners in long queue and extended waiting times for tables. Queuing time could be as long as an hour during lunch and after-work peak hours. To keep the hungry and impatient diners happy, Watami had to dedicate a server at the reception area to manage the waiting crowd.
M&S sees gains from infrastructure, ecommerce upgrades
Marks & Spencer, UK's biggest clothing retailer, said on Wednesday it was on track with a plan to address two decades of under-investment in its infrastructure and create a fast, agile and flexible supply chain.
M&S is spending GBP1 billion (USD1.56b) over six years to 2015 on logistics, IT and systems, as it seeks to become an international multi-channel retailer – connecting with customers through stores, the Internet and mobile phones.
Vietnamese consumers spends big on household appliances
Households in Vietnam have been spending more on household appliances such as air conditioners, refrigerators and washing machines in the past 12 months.
GfK's retail audit in Vietnam revealed a significant growth in their combined overall market value by 14 percent over the previous year, albeit a slightly lower volume demand of 2 percent. According to the latest report, sales of these three major appliances surged by around 91,000 units, with market trends pointing towards bigger capacity refrigerators and washing machines, as well as inverter air-cons.
