US-owned 24-hour convenience store Circle K has opened its 100th outlet in Vietnam and expects to have 150 by the year's end.
Vietnam CEO Tony Yan was optimistic about achieving the target, saying Vietnam's modern retail industry was in the initial development phase.
While modern retail represented only 13 percent of the total market share in the country compared to 50 percent elsewhere in Asia, Vietnam was a promising market of 90 million people with rising incomes, he said.
Property developer Dalian Wanda, owned by China's second richest man Wang Jianlin, plans to close 10 malls across the country and redesign another 25 to cut retail space, China Business News reported last month.
Zong Qinghou, China's fifth richest man with a beverage and chain-store conglomerate, said at a forum in August that online shopping businesses are "affecting China's economic security" by suffocating stores that have to pay rents.
Voylla.com, a jewellery and accessories shopping website run by Bengaluru-based Voylla Retail Private Limited, is planning to set up exclusive offline stores to consolidate its presence in the Indian fashion imitation jewellery industry, said its founder and chief executive officer Vishwas Shringi.
The two-year-old company, which currently has three offline stores, including one in Bengaluru, is gearing up to launch 25 shop-in-shops across the country in tie-up with retail chains like Future Group's Central within the next one-and-a-half year.
Alibaba and Tencent spent more than USD8 billion last year alone backing often strikingly similar ventures, as the Chinese Internet giants race to create online one-stop-shops to win the digital loyalty of a tenth of the world's population.
Before China became the biggest smartphone market, there was little overlap between the businesses of e-commerce leader Alibaba Group Holding Ltd, social networking firm Tencent Holdings Ltd and search engine provider Baidu Inc.
The bricks and mortar experience is still the preferred shopping choice for Hong Kong consumers, according to the latest CBRE consumer survey.
Conducted in August 2014, CBRE’s first-ever Asia-Pacific consumer survey sought to identify current and future shopping trends across the region. Approximately 11,000 consumers were interviewed in 11 major cities, including 1,001 respondents in Hong Kong.
Matahari Putra Prima, the operator of hypermarket chain Hypermart, opened two new outlets last week in effort to cater to Indonesia's climbing purchasing power.
The listed retailer opened a Hypermart outlet in East Bekasi and another in Kupang, East Nusa Tenggara, according to statements published on the company’s website last week.
Chrisdien Deny, a retail chain with more than 500 locations across China, sells belts, shoes and clothing with an "Italian style" – and a logo with the same font as Christian Dior's.
Helen Keller, named for the deaf-blind American humanitarian, offers trendy sunglasses and classic spectacles at over 80 stores, with the motto "you see the world, the world sees you."
A recent Visa study found that 26 percent of Singaporeans shop online at least once a week – the highest in Southeast Asia. And analysts say that with mobile phone apps that allow consumers to hunt for bargains anytime in a city that is ranked most expensive in the world, the potential for growth in the online retail sector cannot be underestimated.
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.