Classic partnership models (in China) are dead!
Unless your company counts with a significant amount of free-cash sitting in the bank and a well studied long-term plan to directly invest in China (probably just 5% of the mid-size retail brands do), choosing a local partner is the most common way to start developing an international retail brand in a market like the Chinese.
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Ecco India opens its first store
Ecco India has opened its first store in the country, located at Gurgaon Ambience shopping mall in New Delhi.
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Harvey Nichols flagship reopens at Pacific Place
The Harvey Nichols flagship at Pacific Place has reopened after a three-month refurbishment, adopting a new store model which takes up just half the space of the original store.
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Zara earns over US$129 million in Vietnam after three years
During three years in Vietnam, Zara has reported revenues of nearly VND3.1 trillion (US$129 million) with an average annual gross profit margin of about 40%, VnExpress reported.
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Lego opens first Australia flagship store in Sydney
Located at Sydney’s Westfield Bondi Junction shopping mall, the two-story Lego store will serve as the company’s first standalone store in the Australian retail landscape, according to local media reports.
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Nike sees strong growth in Asia
Sportswear retailer Nike has grown net income to US$1.1 billion over its third quarter, with the group’s consumer-direct approach delivering growth across all four of its geographic regions.
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Top 6 business challenges to consider before entering Asian markets
Between the Asian and Western (US and Europe) markets, the latter was once considered the more lucrative option of the two whereas the former was dubbed as slow-paced and laggard. But this concept has changed dramatically over the past decade.
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Central Retail plans to double online sales
Central Retail Corporation has announced plans to to double its online sales to THB10 billion (US$315.76 million) this year. Central’s CEO Nicolo Galante said the firm intends to lead in the omni-channel e-commerce business, overtaking Shopee.
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Vietnam retail sales soar
Vietnam retail sales grew at 13 per cent last year, with food and beverage, apparel and household appliances leading the way, according to Savills Vietnam. The country’s Ministry of Industry and Trade has estimated total revenue generated from retail sales and consumer services reached US$191 billion last year.
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Yonghui’s sales revenue in 2016 reached 49.2 billion yuan,
up 16.82% yoy.
Yonghui keeps on evolving its businesses – from operating only supermarkets, targeting the mass market, to launching premium supermarkets and rolling out new retail formats with O2O concepts at the core of its transformation.
Yonghui is the fifth largest hypermarket chain operator in China and operates a total of 549 stores cross the mainland China, covering 20 provinces as of June 2017.
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China’s retail sales grew by over 10% to US$4 trillion in Q1-Q3 2017
In the first three quarters, the total retail sales of consumer goods reached 26,317.8 billion yuan (US$3,974.24 billion) in China, a year-on-year rise of 10.4 percent, growing at the same speed as that of the same period last year. Specifically, the sales of sports and recreational articles grew by 17.4 percent, cosmetics up by 12.1 percent and construction and decoration materials rose by 12.6 percent.
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Double-digit growth in daily retail sales in China over National Day ‘Golden Week’
China’s daily retail sales during the country’s “Golden Week” holiday that ended on Sunday rose at a double-digit pace, on a par with growth during the same break last year, data from the commerce ministry showed.
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Korean online shopping growth surge as retail sales stumble
Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year.
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Chinese retail sales rise more than 10 per cent
Total Chinese retail sales last month reached RMB2.961 trillion (US$443.7 billion), a year-on-year rise of 10.4 per cent, reports the National Bureau of Statistics.
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3000 stores to open in India, world’s most promising retail market
The recent implementation of the GST along with the rise of e-commerce has caused over 50 brands to announce that they will launch in India in the next six months.
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CHINA’S STORE OF THE FUTURE HAS NO CHECKOUT, NO CASH AND NO STAFF
High-tech automated convenience stores are infiltrating Beijing and Shanghai. One of them, BingoBox, launched in several neighbourhoods early this month, offering shelves lined with instant noodles, beer and traditional snacks. Inside there is also a microwave, a shared mobile phone charger, a freezer and a soy milk machine. But one thing is noticeably missing — the staff.
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CHINA’S DEPARTMENT STORE SURVEY 2016
– Department store strategies in the” New Retail” regime.
Department store players in China are keen to diversify their businesses and several have already stepped into the e-commerce arena. Using social media to market their products and interact with customers. Some operators have even started to sell their merchandise via social networks.Department store operators have already engaged in multiple retail formats, some have launched their own private labels, while others have engaged in merchandise direct sales.Combined with the O2O initiatives of in-store mobile payment such as Alipay, and WeChat Pay and offering free WiFi. Many department store operators use their online websites to drive traffic to their offline stores.
To learn more about the latest development prospect and strategies of department store operators in China – send an email to info@AsiaCorp.eu and get the full analysis.
BE FLEXIBLE, BUILD TRUST FOR SUCCESSFUL ASIAN MARKET EXPANSION
NEW YORK – When entering a new market, the biggest mistake brands can make is failing to alter their marketing strategy for any cultural differences, according to an executive from Export Now.
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ALIBABA TO BOOST DANISH EXPORTS TO CHINA
Alibaba Group has moved to increase Danish exports to China as well as promote the country as a tourist destination for Chinese travellers.
A memorandum of understanding to this effect has been signed in a ceremony at Alibaba’s headquarters in Hangzhou, attended by Alibaba Group executive vice-chairman Joseph Tsai and Danish Minister of Foreign Affairs Anders Samuelsen.
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VIETNAM’S RETAIL SALES LEAP TO US$118 BILLION
The General Statistics Office has estimated Vietnam’s 2016 retail revenue at US$118 billion, a 10.2% rise over the previous year.This revenue growth rate was relatively high compared to other markets in the region. Notably, food and foodstuff sales increased by 13%, followed by household appliances with 11.4% and textiles and garments with 10.6%. Sales of educational and cultural products barely grew in 2016, at 1.7% year-on-year.
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PARTNERING WITH CHINA’S RETAILERS: A GUIDE FOR CONSUMER-GOODS COMPANIES
The Chinese consumer sector looks vastly different today compared with just five years ago. The retail environment both offline and online has shifted, consumers have become savvier omnichannel shoppers, and local consumer-packaged-goods (CPG) manufacturers are giving global players a run for their money
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THE RETAIL WINNERS AND LOSERS OF 2016
Some retailers spent the year readying for the industry’s future, while others grappled with the ghosts of its past. Here are the companies, technologies and trends that soared or sank in 2016.
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ASIA’S TOP 5 ECONOMIES IN 2030
Remember when Japan was set to become the world’s top economy? The risks of such forecasts have been highlighted by this and other fearless predictions, including more recently that China would continue its double-digit growth rate forever and that India would quickly become the “new China.”
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ASIAN GROCERY BOOM PREDICTED BY IGD
Asia will continue to be the biggest engine of growth in the grocery market with its sales set to exceed those of Europe and North America combined within five years, according to new forecasts from research organisation IGD.
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17 RETAIL TRENDS FOR 2017
The rise of e-commerce over the last 10 years or so has forced retailers to adapt to the changes demanded by consumers. E-commerce growth continues to accelerate and outpace growth in the brick-and-mortar channel, and online sales accounted for almost 20% of total US sales this holiday season, based on preliminary estimates.
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SPAR THAILAND LAUNCHING 300 STORES
An agreement has just been signed that will lead to more than 300 Spar Thailand food retail stores opening over the next four years.
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