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.
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.