It took China's biggest retail chain Suning all last year to generate sales of about USD17 billion. Last month, e-commerce giant Alibaba saw sales worth more than half that amount pass through its Tmall website in just one day.
Big retailers like Suning Commerce Group Co Ltd and foreign rivals Wal-Mart Stores Inc and Best Buy Co Inc are struggling to attract customers to their traditional stores in China, where online shopping is booming.
Australian retailers are under threat as international brands expand their online presence.
While supermarket giant Woolworths' online sales grew by 50 percent in the past financial year, it sells just two per cent of its goods online.
Department store Myer says its visits to its website rose by 74 percent during the past financial year, adding online sales more than doubled.
Starbucks recently announced plans to double its store count in China to over 3,000 stores by 2019. It said China and the Asia-Pacific region represent enormous immediate, high-value opportunities for the company.
Belinda Wong - president Starbucks China,said China is the fastest growing market for Starbucks. The company has been in China for 16 years with 25,000 partners working in 1,400 stores in 84 cities, with 3 million transactions every week.
South Korea does not celebrate Thanksgiving, but the hot deals at US online retailers during the holiday season are changing the shopping habits of South Koreans who are aggrieved at marked-up prices of locally made and imported goods at hometown stores.
The volume of goods ordered by Korean shoppers from websites overseas has surged in recent years and sales are forecast to set a record high this year above USD1 billion. It remains small compared with retail sales within South Korea, which are forecast at USD243 billion this year, but is expanding at a faster rate.
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.
Aeon Mall Binh Duong Canary, the second suburban shopping mall of Aeon Vietnam Co. Ltd., was launched on Saturday in Binh Duong Province.
The mall is located 15 kilometres north of the center of Ho Chi Minh City, in an area being developed by the provincial government under the Binh Duong New City Development programme.
Alibaba's Single's Day sales are expected to hit a new record this year driven by China's burgeoning internet population and a growing number of retailers participating in the event, say analysts.
Held on 11 November, Single's Day – also known as 11/11 – was initially created by young Chinese to celebrate or lament being single, but it has evolved into the biggest 24-hour online shopping event in the world.
Corneliani continues to expand in China by opening two single-brand stores in Xian and Tianjin.
The company said in its website that the new store in Xian, launched in September, is a 200-square metro boutique located at the Modern Capital PCD Stores.
Another boutique store was inaugurated in October at the Tianjin Youji store in Tianjin.
The design concept was created by Poddaponti Archetetti in association with Group Creative Director Sergion Corneliani.
Luxury brands looking to market they on China's social media platforms must be well-versed in the country's cultural norms.
The days in which companies "managed to reap huge profits with crude strategies in China" are gone. Typical obstacles for brands included slow online activity, poor communication, awkward attempts at localising marketing efforts, and over-expansion, according to Luxury Daily. Today, mistakes like these are becoming more and more unacceptable for businesses trying to make it in the competitive Chinese luxury market.