Shopping experience is a retailer’s biggest differentiator, according to a study commissioned by Motorola Solutions. The study, surveyed 250 US-based retail executives, indicated 74pc of the respondents stated developing a more engaging in-store customer experience is going to be business critical in the next five years.
But such shopping experience is extended beyond the store environment. The survey also found half of the surveyed executives indicated integrating their online and in-store experience would be crucial by 2017.
Australian department store owner Myer will close some stores in coming years as more of its customers buy products online.
Bernie Brookes, Myer CEO, says less than 1 percent of his company's sales are online, but he expects that figure to increase to 10 percent within five years.
That means he will close some "non-performing" or "marginal" stores before they become unprofitable, he told the ABC's Inside Business program on Sunday.
Hit by the deep discounts offered by e-commerce companies, Indian bookstore chains are increasingly betting on online technologies and reworking their merchandise mix to boost sales and profits.
The Tata group-owned book chain Landmark has just announced its foray into e-books to augment sales where it sees the "future of book retailing", according to Ashutosh Pandey, Chief Operating Officer, Landmark. It has added 250,000 titles.
eCoupons.com predicted more consumers in China will shop online on Cyber Monday than in the US, UK, Germany and Japan.
According to a new eCoupons.com/Ipsos global survey that released on Monday, 22 percent of Chinese plan to shop online on 29 November versus 17 percent in the US Cyber Monday, one of the busiest shopping days of the year, is the Monday after Black Friday where retailers offer big discounts online.
A new online bazaar called Hocusadabra is one of Asia's early-movers into the e-store segment for children.
The store is an online collection of creatively and consciously curated products from all over the globe that "care for, entertain and educate" children. The concept is built around an initiative to support independent designers and artists who use sustainable materials to produce beautifully crafted educational children’s products.
Lippo Group announced on Wednesday the launch of an Indonesian e-commerce venture, MatahariMall.com, solidifying its position as the largest multi-format Indonesian retail group.
Lippo has allocated USD500 million in investment over the next two to three years to create an e-commerce company with an expected USD1 billion in sales within one-and-a-half to two years that will become the "Alibaba of Indonesia".
Online marketplace Snapdeal.com recently Exclusively.com (formerly Exclusively.in), the online destination for premium and luxury fashion.
With the acquisition, Snapdeal said it looks to further strengthen its fashion business expecting to reach USD2 billion in GMV in the fashion category this year.
Luxury products and services is a USD14-billion market in India, growing at 30 percent year on year, according to a recent KPMG-ASSOCHAM report. More than 70 percent consumers want to shop for luxury products in India rather than abroad.
Traditional bricks and mortar retailers will face further pressure from web-based competitors if overseas experience is any guide, Savills Australia says.
The online retailing juggernaut was still relatively small in Australia, snatching less than 7 percent of traditional retail sales compared with double the volume in the UK (13.5 percent) and 70 percent more in the US (11.6 percent), Savills researcher Glenn Lampard said.
India’s search and comparison site for shoppers recently launched the largest online selection of gift cards in the country.
The store houses more than 1,400 physical and over 400 electronic gift cards across 100 brands and retailers.
There are gift cards for holiday packages, short getaways, events, and unique experience packages that include helicopter ride, sailing, and golfing.
The online retail market in ASEAN six – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – has the potential to grow 25 percent annually through 2017, according to a new report Lifting the Barriers to E-Commerce in ASEAN released on Friday by management consulting firm A.T. Kearney. Globally, only China is expected to experience similar growth rates in online retail.
The firm believes that there are distinct actions the region can take to surmount each barrier and pave the way for sustained growth: