Indian Prime Minister Manmohan Singh rejected calls to reverse major retail market reforms, saying the entry of foreign supermarket giants would help modernise the USD450 billion sector and fight stubbornly high inflation.
The reforms have drawn howls of protest from opposition parties and from allies within Singh's Congress Party-led coalition. Parliament has been adjourned for six days, threatening other major bills, such as one on food subsidies for the poor.
Global snacks and soft drinks major PepsiCo is looking to expand the market for its breakfast cereals by entering smaller cities in India with its Quaker Oats brand.
The firm is betting big on the oats segment, which currently has a total market size of around INR200 crore (INR2 billion, USD38.52 million) in India, as it looks to tap consumers at the lower socio-economic segment.
Debenhams has become the first major UK retailer to offer a tailored shopping service for blind and partially sighted customers.
The department store has worked with the Royal National Institute of Blind People (RNIB) to identify the main obstacles faced by both the customer and personal shopper whilst trying to shop in store.
From a customer perspective, these included time, brand and social and physical barriers. Seventy-six percent of blind and partially sighted people find shopping difficult or impossible according to the RNIB.
Many major Indian brand owners are putting more emphasis on proving the ROI from their marketing activities, but further progress may be required in this area.
IBM, the services firm, recently polled 1,700 CMOs globally, and found 69 percent of its South Asian panel – which includes 88 Indian CMOs – agreed that ROI would soon be the key measure of success. Working with top executives from other departments, or CxOs, is seen as vital.
The Chinese smartphone revolution is continuing to spread beyond that county's shores.
China's ZTE is planning a major strategic shift away from the cheap phones and telecoms equipment that have made it one of the fastest growing manufacturers in both sectors, towards making more profitable smartphones and higher-end network gear – and is targeting the US market for further growth.
ZTE hopes to rake in more overseas sales from supplying equipment such as the latest fourth generation LTE (long-term evolution) gear to major carriers.
A hundred and twenty delegates from across the Asia-Pacific region attended the first Asian edition of the Sustainable Cosmetics Summit which took place in Hong Kong on 7-8 November. The focal themes of the summit were the marketing and technical issues related to sustainable cosmetics. Major discussions centred on greenwashing & consumer confusion, the lucrative Chinese market, certification and green formulations.
MIPIM Asia 2011 was officially opened for all registered participants and media on Tuesday by Carrie Lam Cheng Yuet-ngor, Hong Kong's Secretary for Development at the Hong Kong Conference and Exhibition Centre. Lam has presented her major development plan for Hong Kong as her officiating speech.
Kuala Lumpur has talented designers to wow world audience and put it among the top fashion cities. The extra "silk" Kuala Lumpur needs to rank alongside Milan and Paris, among others, is more support from government agencies as well as fashion authorities and associations.
Local designers said with more exposure and the right mindset, the fashion industry could be one of the major contributors to the country's economy.
Indian footwear major Bata India Ltd reported a 46.8 percent increase in its net profit at INR30.42 crore (INR304.2 million, USD6.2m) for the second quarter this year, on the back of higher sales and profitability.
The company opened 106 new large format stores, nine exclusive Hush Puppies outlets and five shop-in-shops in departmental stores during the year.
The country's largest footwear retailer plans to open 70 new stores a year and renovate the old ones, according to a company release.
Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one-in-three North Americans saying they have no spare cash, a survey showed on Sunday.
The economic outlook, followed by job security, became consumers' biggest concern in the third quarter, overtaking worries about rising inflation, according to the quarterly survey by global analytics and information company Nielsen.