Brand owners tapping "game changing" trends like making their products more "useful" to consumers, on-going innovation and breaking down silos could see major benefits, a study has argued.
Wolff Olins, the consultancy, recently surveyed 500 executives, and found that corporate confidence about exploiting new types of "value creation" peaked at 28 percent in Asia and 25 percent in North America.
Consumer spending in the Indian FMCG sector is set to more than triple by 2020, offering major opportunities for brand owners and retailers.
According to a study from the Boston Consulting Group and the Confederation of Indian Industry, expenditure levels should reach USD3.6 trillion in 2020, compared with USD977billion in 2010.
Washing machines' sales drive major domestic appliances industry's growth in SE Asia last year, says GfK Asia
Urbanisation and higher purchasing power in developing economies have been boosting consumer demand for more major domestic appliances and contributing to the flourishing trade in Southeast Asia. GfK retail audit of air conditioners, refrigerators, washing machines and microwave ovens across Malaysia, Thailand, Indonesia, Vietnam, Philippines and Singapore reported over 17.5 million units of such appliances being sold in 2011, bringing the total value of Major Domestic Appliances (MDA) sector to USD4.95 billion – 12 percent more than 2010.
Timbor Home, manufacturing-retailing major of modular kitchens in India, has opened three more stores in Rajasthan.
Now the total number of stores in Rajasthan stands at 10 with the company opening a store each in Udaipur, Bhilwara and Sri Ganganagar.
The Mall Group is teaming up with major partners to expand its online shopping business in the second quarter.
Vice-chairman Supaluck Umpujh said the Thai company is spending THB100 million (USD3.22 billion) on IT upgrades to accommodate the launch of online shopping through www.mglobemall.com.
The group will team with seven partners: Bangkok Bank, Citibank, Thanachart Bank, Thai Life Insurance, Major Cineplex, PTT and TV Pool magazine.
Handset major Nokia has tied up with Indiatimes Shopping to launch its first online store in India.
The online store called NokiaShop (nokia.indiatimes.com) will be the first portal in the country to deliver phones directly from the manufacturer to the users.
Apple released on Friday an audit of its major suppliers, saying it found a number of violations including breaches in pay, benefits and environmental practices in plants in China.
The Cupertino, California-based company, notorious for keeping its supply chain a secret, also for the first time released a list of its major suppliers.
The company said it conducted 229 audits last year, representing an 80 percent increase over 2010.
The furore around embattled luxury furniture retailer Da Vinci has taken yet another intriguing turn, this time revealing the twisted relationship between major media groups and big business.
Despite the FDI controversy, luxury fashion and accessories retail still presents exceptional opportunities in India especially for the major luxury retailers. Brands already present in India have probably, once again, ''learnt their lesson'', becoming even more convinced, for most of them, operating directly in India would be a mission impossible. Several major international luxury brands, not yet present in India, have by now postponed by at least two years their entry, preferring to rather enter in discussions for a franchising/exclusive wholesale distribution.
Global consumption of beer is continuing to rise, with demand in emerging markets driving the amount that was guzzled down around the world in 2010 to a new record.
The research arm of major Japanese brewer Kirin Holdings Co. estimated last month that 182.69 million kilolitres of beer were consumed during the year, the most recent for which it was able to provide statistics.