Chinese spenders are projected to become the largest luxury consumer group, spending USD102 billion on luxury goods for 2013, accounting for nearly half of global luxury sales which is expected to hit a new record of USD217 billion, according to the recent China Luxury Report released by Fortune Character Institute in Shanghai. Although the report points to an easing in the global luxury market, there is optimism about the Chinese market.
As the year-end festive season approaches, Singaporeans are increasingly turning towards online shopping to procure gifts for their loved ones. According to a comScore study on emerging retail behavior, Singapore’s online shopping volume is forecasted to reach USD4.4 billion in 2015. In Asia Pacific, Singapore is also ranked #4 in Asia-Pacific for online shopping volume.
Esprit Holdings’ chief is doubling down on a bet to fix the struggling clothing retailer he took charge of a year ago by revamping its existing business model and recreating it in the image of Zara, his former employer. Jose Manuel Martinez Gutierrez, 44, has stacked his management suite with veterans of Zara owner Inditex, the world’s biggest retailer. Its model of rapidly changing fashion is among the best in the industry, analysts say.
Despite the hype surrounding smart watches, they are unlikely to be featured on many consumers' holiday wish lists this year, according to research firm Gartner.
With premium pricing and an unclear value proposition for smart watches, consumer spending is forecast to be focused on tablets and fitness instead.
History will be the ultimate judge, but there is good reason to believe that China's recently completed third plenum will come to be regarded as a pivotal moment in the country's development. At long last, China's senior leadership has endorsed a raft of reforms that could impel the economy's shift from reliance on exports to consumption-led growth.
Hong Kongers will be the region’s most optimistic shoppers this Christmas, with 92 percent of respondents in a recent survey almost unanimously saying they are ready to spend the same or more on gifts compared to last year, highest among the 12 markets surveyed and higher than the Asia-Pacific average of 84 percent.
The Holiday Shopping Survey conducted by Groupon also revealed that nearly six out of 10 respondents intend to purchase gifts via a mobile device such as a smartphone or a tablet.
HP MX10 Retail Solution enables retailers to easily transition between mobile and fixed point of sale with one integrated solution
HP recently unveiled the HP MX10 Retail Solution to help retailers easily transition between a mobile and fixed point of sale solution.
The HP MX10 combines the HP ElitePad Mobile POS Solution (MPOS) and the HP Retail Expansion Dock to give retail employees the advantage of being mobile but at the same time giving them access to a complete POS which includes receipt printing and access to a cash drawer.
Alibaba Group’s new mobile-messaging app, Laiwang, attracted more than 10 million users in the past month.
Alizila, the e-commerce news and corporate website of the Alibaba Group, reported that Alibaba Group Chief Executive Jonathan Lu attributed Laiwang’s growth to features such as sending a voice message that is subsequently deleted after the receiver has heard it and the ability to form chat groups of up to 500 people.
Designed to provide retailers with greater flexibility and convenience, Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions, today announced new managed service offerings for both EAS and Traffic Intelligence.
RetailWATCH: Retail Differentiation Done Right - Leveraging Traffic Intelligence to Improve Customer Experience
Differentiation from the competition is the one common denominator successful retailers share regardless of product or service sold. This elusive, coveted factor can take many forms, be it price, product quality, store décor, targeted consumer audience and the business model itself.