Man Made Disaster
Alibaba is taking on Amazon's habitual role as public enemy number one for traditional US retailers, as the Chinese ecommerce group is dragged into a political fight in Washington over its global ambitions.
Bricks-and-mortar retailers, which spent years attacking Amazon for profiting from what they call a sales tax loophole, have turned their fire on Alibaba by warning that the Chinese group will be its next beneficiary.
Amazon.com has released its annual Electronics Holiday Gift Guide, a curated list of more than 500 of the top electronics gifts of the season, which it said features three times more deals this year.
Organized by eight unique personas, including the “gamer” who has to have the latest games and hottest accessories, wearable enthusiasts that are “decked in tech,” and music fans who love to rock, making it easy for shoppers to find the right gift for the electronics lover on their list.
UK online fashion retailer ASOS believes it can reach its target of GBP2.5 billion (USD4 billion) in annual sales by 2020, with price cuts helping to reignite growth after three profit warnings this year.
Until this year, ASOS had been the great success story of UK retailing and a darling of the stock market, helped by its appeal to internet-savvy twentysomethings and high-profile fans including singer Rita Ora and US First Lady Michelle Obama. Having floated at 20 pence in 2001, ASOS shares hit a high of GBP71.95 in February.
European retailers said on Tuesday they had found thousands of safety problems while inspecting Bangladesh garment factories in a drive to prevent a repeat of last year's Rana Plaza disaster that claimed over 1,100 lives.
The Bangladesh Accord on Fire and Building Safety, an umbrella group of nearly 200 European brands such as H&M and Carrefour, said inspectors discovered 80,000 safety hazards in the 1,106 factories investigated this year.
UK online fashion retailer Asos has been forced to suspend its website and stop taking orders, possibly for several days, after a fire at the firm's main warehouse in Barnsley of England's South Yorkshire.
The fire, which South Yorkshire police believe was started deliberately on Friday night, ripped through several floors of Asos's vast distribution centre. It took 10 fire engines and more than 60 firefighters to bring the blaze under control.
Amazon unveiled on Wednesday its first smartphone - Fire.
The brand new gadget features two new technologies - Dynamic perspective, which it said uses a new sensor system to respond to the way users hold, view, and move the gadget; and Firefly, which recognizes things in the real world like web and email addresses, phone numbers, QR and bar codes, movies, music, and products.
Former David Jones boss Mark McInnes has introduced a speech by Australian federal treasurer Joe Hockey with a blistering attack on the previous Labour government's management of the economy.
Now chief executive of the Just Group of fashion retail brands, McInnes said Labour had left a "financial mess".
City-owned market operator PD Pasar Jaya will channel Rp 300 billion (USD25.9 million) to revitalize Senen market’s Block 3 in Central Jakarta, which was gutted by a fire on Friday.
“The Rp 300 billion in funds are purely from our own pocket and reconstruction will start after the Idul Fitri holiday this year,” PD Pasar Jaya president director Djangga Lubis said in Jakarta on Monday as quoted by Antara news agency.
In the revitalization program, he said, PD Pasar Jaya would pose as both developer and manager of the market’s new building.
The Asia-Pacific will overtake Europe as the region whose tourists spend the most money overseas within 10 years, a report said Wednesday, driven by an explosion in the number of Chinese travellers.
An emerging global middle class will increase from 2 to 5 billion by 2030. This represents future global retail growth that will see emerging markets equal to developed markets in terms of retail spend with USD30 trillion. With these sheer numbers, what is the most common denominator that all retailers should be able to exploit to grow rapidly? Data.
Trends in the growth explosion