Why is it that mid-range Western brands send Chinese shoppers clamoring for more? The answer isn’t simple, but Yao Shujie, head of the School of Contemporary Chinese Studies at Nottingham University, and Mike Bastin, a researcher at the school, recently reported their ideas to China Daily.
Tmall shopping centre under Alibaba.com is planning to introduce more foreign retailers as there are increasing demands for US brands.
Janet Wang, head of international business development, said that she would meet with potential US partners during her visits to a series of meetings in Chicago, Detroit and Seattle.
Pork and chicken will join beef on the menu of expensive meats as drought and US ethanol policy combine in a corn "disaster", the head of the world’s largest pork producer has said.
The cost of the main ingredients in animal feed, corn and soyameal, have set records this month as the worst drought in half a century and extreme heat damages crops in the US, the world’s main surplus producer.
Prices of passenger vehicles in China fell the most in about two years because of a worsening glut at car dealerships, the top economic planning agency said.
Average retail prices last month fell 1.1 percent from April, the steepest sequential drop since June 2010, Cheng Xiaodong, head of car price monitoring at the National Development and Reform Commission, said last Tuesday. Carmakers were overstocking vehicles at a time when dealers were pessimistic about their sales prospects, he said.
Japan's cabinet on Friday approved a bill to double the nation's sales tax to 10 percent, overcoming an earlier scare after the head of a coalition partner said it could leave the government over the issue.
While making payments for consumers in a developed market can be as easy as waving their mobile phones in front of a reader, thanks to the contactless payment solution, there seems to be a great number of people who haven't taken advantage of the latest technology of mobile commerce and banking – more than one billion consumers without a bank account have a mobile device in emerging economies. Realising the huge market opportunity, Visa in November launched a new mobile prepaid product for developing countries.
Although Chinese consumers are among the world's biggest spenders on luxury goods, they do not always get the treatment they deserve from top brands, an industry expert says.
Ouyang Kun, the head of the Beijing office of the World Luxury Association, an independent market research group, said Chinese consumers often paid "a luxury price" for international big brands but did not get "the luxury services" that the brands would offer in other markets.
Chinese consumer demand has not been affected by the gloomy global economic situation – it is still blooming and boosting the retail sector in Hong Kong and China. Retailers are competing with each other to open their shops first in both markets and are facing many new challenges that they have not experienced before. Retail in Asia recently caught up with retail expert, Jonathan Moore, head of property- Asia from EC Harris, to learn about the current retail challenges – from property issues to consumer behaviour.
Microsoft Corp appointed a new head for its mobile phone software group on Monday, as the company continues to search for ways to extend its dominance in the PC market to the fast-growing and highly-competitive smartphone business.
Microsoft Windows Phone Division president Andy Lees, who has led the phone group since 2009, will take a new role at the company that involves working with the company’s phone and PC businesses, according to a letter to employees sent by CEO Steve Ballmer on Monday.