Shopping experience is a retailer’s biggest differentiator, according to a study commissioned by Motorola Solutions. The study, surveyed 250 US-based retail executives, indicated 74pc of the respondents stated developing a more engaging in-store customer experience is going to be business critical in the next five years.
But such shopping experience is extended beyond the store environment. The survey also found half of the surveyed executives indicated integrating their online and in-store experience would be crucial by 2017.
Japan's Fast Retailing Co is not considering changes in the planned expansion of its Uniqlo clothing stores in China despite anti-Japanese protests there, its chairman Tadashi Yanai said on Wednesday.
The firm, Asia's top apparel retailer, is looking to add 80 more Uniqlo stores in China in the business year that started on 1 Sept., he told a briefing on its development and sales strategy for Uniqlo apparel for the upcoming winter season.
Lotte Mart opened its 100th supermarket store in the Chinese city of Nantong, Jiangsu Province recently and planned to open another 17 ones in the second half of this year in China.
Lotte Group from South Korea built a joint venture with Yintai Department Store in 2008 and introduced its general merchandising business into Chinese market. It opened its first solely-funded department store in Tianjin in 2011 and continued such a development mode since then.
By 2015, you may be able to shop at an IKEA store in India. The EUR25-billion Swedish furniture major is expected to set up its first two-three stores in India within three years of getting government approvals, it is learnt.
These stores, to be modelled on the international format, would be spread over 100,000 square feet area or more, a source aware of the developments told Business Standard. An IKEA senior management team is currently in India scouting for real estate across the country.
Chinese internet giant Baidu and companies across the country are tapping a frenzy of nationalist sentiment, launching patriotic promotional campaigns as thousands take to the streets to protest against the Japanese government's purchase last week of some disputed islands from a private owner, islands China claims as its own.
Be it to drive traffic to websites or garner customer loyalty, companies have rushed to wave the Chinese flag to try to cash in on the worst anti-Japan protests in decades surrounding the islands, called the Senkaku by Japan and Diaoyu by China.
Market sentiment across various real estate sectors in Asia-Pacific remained subdue subdued in the second quarter of 2012, according to CBRE. The commercial real estate services firm has been monitoring the price and rental index in retail and industrial & logistics real estate on a quarterly basis. In general, the market sentiment in Asia-Pacific was mixed as investors remained mindful of the Eurozone debt crisis.
The city of Guangzhou in China's southern Guangdong Province came under the limelight again due to its great consumer potential and strong growth drivers in its retail market, which impelled foreign retail brands to change their strategies and seek better development in the region.
Maxvalu, a high-end supermarket brand under Aeon, would open its first store by the year end. Galeries Lafayette, which attempted to have its presence in Beijing 15 years ago but failed, planned to come to the city for its second location in China.
Asia-Pacific is both the largest and the fastest growing retail market in the world and it continues to grow at astonishing speed. Retail Asia Expo 2012, which will be held from 12 to 14 June, will once again bring together world-class technology and retail design suppliers to Hong Kong, showing the audience of retail professionals the latest trends and industry developments in the market. Retail in Asia caught up with Stuart Bailey, General Manger for the show organiser Diversified Events Hong Kong Ltd, to have a sneak peek at the event highlights, the must-see and more.
The Consumer Electronics (CE) sector in five Southeast Asia countries of Singapore, Malaysia, Thailand, Indonesia and Vietnam registered a slight volume growth of 2 percent in the first quarter of 2012 over the same period last year. Overall growth in the sector was driven mainly by heightened sales in LED TVs which fuelled increase in overall TV sales volume by 39 percent, as well as the proliferation of Blu-ray technology across all markets.
Hong Kong, Singapore, Shanghai, Beijing and Tokyo are among the top 20 cities where international retailers have the largest presence, according to the 2012 edition of How Global is the Business of Retail? by global property adviser CBRE.