The mainland's online shoppers set another record on Monday as major retailing websites offered massive discounts on Singles' Day. Taobao and Tmall, the two main online retailing platforms of Alibaba Group, smashed last year's combined record of CNY19.1 billion (USD3.1 billion) sales for the whole day in the first 13 hours yesterday. By 9.20 p.m., the total exceeded CNY30 billion (USD4.9 billion), the company said on its weibo account.
In an effort to bridge the gap between the online and offline shopping worlds, China's Single's Day online shopping festival is expanding this year to traditional stores.
Alizila, the news website of the Alibaba Group, reported that a number of brands on Tmall are extending their promotional actives to some 30,000 physical stores.
By encouraging shoppers to visit stores to touch, feel and try out the products, retailers hope to encourage sales. However, they can still opt to buy the goods online.
Chinese shoppers are cutting back on designer duds, leather handbags and pricey watches, putting a drag on global sales of luxury goods, which a study forecasts to expand just 2 percent this year.
The analysis released Monday by Bain & Company estimated 2013 luxury sales at EURO217 billion (USD300 billion), up from EURO212 billion (USD288 billion) in 2012. The increase is a fraction of the double-digit growth enjoyed the previous three years.
With signs of enthusiasm for established brands waning in China, less recognized independent brands believe it may be their time. At least, dynamic duo of retailer Opening Ceremony and current Kenzo creative directors Humberto Leon and Carol Lim think so.
Taubman Asia officially announced the groundbreaking of the Hanam Union Square shopping center, a 4.5 million square feet GFA mall in Hanam City, Gyeonggi Province, South Korea.
Co-developing the site are Taubman Asia and Shinsegae Group, Korea’s leading luxury department store retailer.
David Jones and Myer face big challenges as they deal with lacklustre consumer demand in Australia, a shift in household spending away from merchandise to what the retailers call experiences – lattes instead of crockery, say, or a plane ticket instead of a new suitcase – and the expansion of internet retailing.
They are, however, making a pretty good fist of a task that many observers believed would be beyond them. The price gap between them and overseas online retailers is closing, and it seems it is doing so without creating a profit sinkhole.
Faced with ongoing weakness in the retail sector, David Jones is focussed on lifting online sales and improving margins and customer service.
The department store is also thinking outside the square – investigating the development of a high rise apartment building or office block above its flagship Sydney store.
David Jones made an underlying profit of AUD101.6 million (USD95.1m) in the 12 months to the end of July, up slightly from AUD101.1 million in the previous year.
Food, entertainment, hotels, apartments and even large-scale parcel collection points are to be significant features in the next phase of growth for a shopping centre.
AMP Capital Shopping Centres managing director Bryan Hynes says shopping centres of the next century will look more like mini cities.
Hynes is overseeing the AUD390 million (USD367.7m) redevelopment of the Macquarie Centre in Sydney's north-west and said shopping centres had to cater for everyone to remain relevant.
Geox, Italy's largest men's shoemaker and the world's second largest casual footwear brand, is accelerating its expansion in China after ending a five-year partnership with China's number one shoe retailer Belle.
The Italian shoemaker plans to speed new store opening and bring the total number of its stores in China from the current 75 to 160 by the end of this year which means it will open five stores each week, Mario Moretti Polegato, Chairman and founder of Geox, said on 30 August in an interview with Dongfang Daily in Shanghai.
Samsonite International SA, the world's biggest luggage maker, on Tuesday posted record net sales of USD983.6 million for the six months ended on 30 June 2013, driven by strong sales in Asia. That's 16.2 percent increase compared with USD846.7m in the same period prior year. Adjusted net income rose 17.6 percent to USD92.9m, after excluding certain tax benefits recognised during the first half of 2012.
The company attributed the strong first half results to "diversification in terms of brands, products and markets".