International coffee retailers are brewing plans to launch more outlets, especially in smaller towns and cities. Discretionary spending may be low, but coffee chains are eyeing tier- 2 and -3 cities to beat the high saturation levels and rentals in the metros.
Retailers looking to emerging districts like Shatin and Tuen Mun to cash in on rising day-trip tourism
Despite robust retail sales growth in January and February, retailers remain cost-sensitive in the face of high rentals and as a result, overall retail rents in Hong Kong are expected to grow at a more moderate pace of about 5% for 2013, according to Jones Lang LaSalle’s latest Hong Kong Retail Market Report.
A new study released by TNS showed that mobile can play a valuable role in reducing the risk of 'showrooming,' or the practice of people visiting retail stores only to see or test products but buy them later elsewhere.
TNS said this has emerged as a significant threat to the high street as one-third of mobile users globally admit to 'showrooming' behavior.
However, results of the latest Mobile Life study reveal that mobile can also help reduce the risk associated with showrooming.
Despite a poor economic forecast for the past year, global tourism defied the odds and remained resilient. According to UNWTO World Tourism Barometer, 2012 saw a record 1.035 billion international tourists, a growth of 4 percent from 2011. Asia-Pacific led the way with one of the highest growth figures of 7 percent for in-bound tourist figures.
True Digital Content and Media Co, the e-commerce arm of True Corporation, is spending THB100 million (USD3.3 million) to boost its new online shopping website in a bid to cash in on e-commerce. Seubsakol Sakolsatayadorn, the general manager for e-commerce, said THB60 million (USD2.03 million) is slated for an information technology system and the rest for marketing.
Indonesia's consumers are the most optimistic in the world, followed by those in India, the Philippines and Thailand, according to a survey published on Wednesday by market-research firm Nielsen.
Asia-Pacific countries made up seven of the 10 most confident countries globally in the Nielsen survey of global consumer confidence and spending intentions, conducted between 17 February and 8 March.
The Supreme Court on Wednesday dismissed a writ petition challenging the notifications and regulations permitting foreign direct investment in multi-brand retail sector. The court reiterated that “in matters of policy, this court will not interfere unless it is unconstitutional, contrary to statutory provisions, arbitrary, irrational or abuse of power.”
Shops and hotels hoping for a major "golden week" boost were left disappointed on Monday.
The Labour Day holiday got off to a sluggish start, prompting fears that Hong Kong may have lost some of its appeal for free-spending mainland Chinese shoppers.
About 270 tours arrived in the city, with 900 more expected before the end of the week.
Global retailers and travel companies are vying to capitalise on a surge of Chinese tourists, one of the most visible symbols of the country's increasing wealth. These shoppers are now a frequent sight at the world's retail hot spots, armed with their UnionPay cards and laden with luxury goods.
Local retailers are setting the pace in the Chinese grocery retailing market, according to market researcher Kantar Worldpanel.
Chinese retailers as a group continued their advance in modern grocery trade, growing from 71.9 percent to 72.3 percent collectively year on year, the market watcher said on Thursday.