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.
The Mall Group, Thailand's second largest department store chain, plans to add more imported fashion brands to make its stores different from those of competitors in a tough market.
Prissa Eiammanoch, director for business development, said the rise of social media had made Thai women more fashion-conscious, wanting to look good on their Facebook, Instagram and other channels.
Tokyo-based Rakuten Inc has earmarked THB100 million (USD3.1m) for expansion of its e-commerce business in Thailand over the next three years.
The move comes after its Tarad.com e-marketplace showed rapid growth since 2010 after Rakuten paid USD43.4 million in 2009 to acquire 67 percent of Thailand's Tarad Co, owner of Tarad.com.
Takashimaya, a 185-year-old Japanese department store chain, will open its first branch in Thailand in Iconsiam, a premium shopping-cum-residential project on the Chao Phraya River, in 2017.
Takashimaya Singapore and the mega-development owner Iconsiam Co will set up a joint venture, Siam Takashimaya (Thailand), with THB1.2 billion (USD37.1 million) in registered capital, to operate the store.
The joint venture will be 51 percent owned by Takashimaya and 49 percent by Iconsiam Co.
David Jones has opened its first new store in its home city of Sydney in seven years and the first since its sale to South Africa's Woolworths Holdings
The opening comes amid a booming mall market, as look investors to gain a foothold in centres that have development opportunities. The boom has seen close to AUD1 billion (USD878.6 million) plunged into Australian shopping centres over the past month.
Starbucks opened this month its first community store in out Korea, as part of its global commitment to provide opportunities for young people. The store is located in Seoul's Daehakro neighborhood. It is Starbucks’ eighth community store globally and the second community store in Asia.
Italian luxury menswear house of Canali inaugurated last week its seventh mono-brand store in India, in the city of Kolkata. Situated within the Quest Mall. The evening event marking the Canali opening was hosted by Mr. Sanjiv Goenka – Chairman RP – Sanjiv Goenka Group and the owner of Quest Mall, and was attended by Stefano Canali (General Manager) and Paolo Canali (Group Commercial Director), third generation of the Canali family.
Woolworths is outperforming Coles, Dick Smith has an edge over JB Hi-Fi and Australian fashion brands are gaining ground on international competitors in the AUD15.6 billion (USD13.84b) online retail battle.
Traffic to Woolworths' online grocery site rose 250 percent in 2014 to about 34 million visits and has risen 130 percent in financial year 2015, according to analysis of website traffic by broker UBS and Hitwise. In comparison, traffic to Coles' online grocery store rose 240 percent to about 26 million visits in 2014 and has risen 80 percent so far this financial year.
China's e-commerce sector continues to evolve at a rapid pace.
As online shopping becomes more popular, Chinese consumers are increasingly viewing the internet as an opportunity for discounts. While this can be a boon for companies with a strong online presence, it means that luxury brands, whose products are often expensive, must alter their approach if they are to succeed in this type of market.
The suburbs in Sydney are the next destination for international retail brands, with Sweden's H&M, Japan's Uniqlo, Spain's Zara and the US Gap labels all moving into the newly redeveloped Macquarie Centre in North Ryde.
Once the AUD440 million refurbishment of the mall is completed, it will be home to the most large-format international high street fashion brands of any Australian shopping centre. A fifth brand, possibly Forever 21, is said to be announced in the coming weeks.