retail
India lifts restrictions on FDI in single-brand retail
India formally eliminated restrictions on foreign investment in its single-brand retail sector on Tuesday, opening the door to the likes of Swedish furniture giant IKEA to open stores in Asia's third largest economy.
Foreign retailers that want to invest beyond the previous cap of 51 percent ownership will need to source 30 percent of their goods from small and village industries, said the government, which faces five state elections in the next few months.
China's Ministry of Commerce to accelerate retail sales growth
China's retail sales may grow 15 percent annually through 2015 and top CNY32 trillion (USD5 trillion) in 2015, the Ministry of Commerce said on Wednesday.
The ministry said in its guideline for the country's 12th Five-Year Plan that it will accelerate the construction of infrastructure for commerce, and promote the use of e-commerce, franchising, online business and online shopping as well as modern logistics to boost the revenue of goods trading substantially.
Global Retail Theft Barometer Study finds shrinkage in Japan is the 2nd-highest in the world
According to the fifth annual edition of the Global Retail Theft Barometer, retail shrinkage rate in Japan is 1.04 percent of sales, the third-lowest in the world. However, this rate was up 4 percent compared to the previous year. The total shrinkage amount – profit loss due to customer and employee theft, supplier/vendor fraud and administrative errors – in Japan reached JPY774 billion (USD9.96b), the second-highest worldwide, representing almost 53 percent of the total sum in the Asia-Pacific.
Taking Stock: How to make your business run better and more profitably
Barbara Wold has more than 45 years of first-hand retail experience, and is one of the industry's most sought-after speakers and consultants. These are her tips for "How to Make Your Business Run Better and More Profitably":
HK's retail sales rise 23.4pc in Dec year-on-year
Hong Kong's retail sales surged by 23.4 percent in December year-on-year to HKD43 billion (USD5.54b) on the back of strong local demand and tourist spending, the Census and Statistics Department said on Thursday.
After netting out the effect of price changes over the period, the volume of total retail sales – the amount of goods shoppers buy – increased by 17.1 percent, the department said.
The value of retail sales in November was HKD33.4b, also a 23.4 percent increase year-on-year. In volume terms, it was an increase of 16.9 percent.
US eyes retail growth with quick visas for tourists
Bloomingdale's chief executive officer Michael Gould is a fan of President Barack Obama's efforts to speed up tourist visas for Chinese and Brazilian shoppers.
Doing so would create an "immediate" surge in retail sales as foreign shoppers clamour for Marc Jacobs and Kate Spade designs, Gould said in a telephone interview on 27 January. The department store chain is preparing for a potential boom by tailoring merchandise assortments to Brazilian and Chinese tastes and advertising outside of the US for the first time.
Retail boost for India's retail properties in 2H11
The second half of 2011 showed heightened activity in adding retail mall space across India due to increase in consumer demand.
Almost 9.6 million square feet of organised retail mall supply was introduced into the market in 2H 2011, compared to almost 6 million square feet in the first half, according to a retail sector report by international consultant CB Richard Ellis.
Discounting is the new retail reality in Australia
When the CEO of a supermarket business proclaims it's a wonderful environment for customers, the flip side is it's a lousy environment for the company.
The new CEO of Australian retail giant Woolworths, Grant O'Brien, mentioned the boon for consumers so many times yesterday he virtually wore out the phrase.
Apple poaches Dixons chief to expand retail
Apple Inc is hiring Dixons CEO John Browett, who drove a recent turnaround at the UK electricals retailer, to lead the iPad maker's retail expansion.
Browett, who has been the boss at Dixons since 2007, was previously CEO of Tesco PLC's successful online shopping site.
At Apple, which last week posted quarterly results ahead of market expectations, Browett will be responsible for the company's retail strategy and the expansion of its stores around the world from the current total of around 300.
India's airport retail business tops US1b mark in 2011
The airport retail business revenues in India, according to Asipac Projects, have surpassed the mark of USD1 billion in 2011, with the rise in passenger traffic and as more people shop on the go.
Beauty, personal care, alcohol and tobacco emerged as the top three categories in the duty-free section, while food & beverage, books, periodicals and stationery took the top spot within the duty-paid segment.
