| Global retail industry news |  |
- Saudi Arabia's retail sector poised to surge, report says
Al-Rajhi Bank's investment banking subsidiary has released its report on the retail sector in Saudi Arabia, where growth is driven by changing lifestyles, better education and favourable demographics. The market is expected to grow from SR226 billion (US$60.26 billion) last year to SR276 billion (US$73.6 billion) by 2014, according to Al-Rajhi Capital. Arab News (Saudi Arabia) (21 Dec.)       - Canada's Lululemon recalls some reusable shopping bags
Canadian yoga retailer Lululemon recalled some of its shopping bags featuring photographs of elite athletes on concerns that they may contain lead. "While we conduct that review, we believe that from a long-term environmental perspective it is better to stop distributing these bags," said Lululemon CEO Christine Day. The Gazette (Montreal) (21 Dec.)  | Discover the 'Future of Sustainable Household and Laundry Care Packaging'. Covering home and laundry care, it outlines the major drivers and inhibitors of sustainable packaging mostly from a consumers' perspective. Find out more: |
 - M&S tie-up with HSBC could include in-store banks, source says
Marks & Spencer is looking into opening bank branches inside dozens of stores as part of its partnership with HSBC, a source said. The clothing retailer already offers foreign exchange services at many locations, while credit cards, insurance, loans and other products are available by phone or online. Supermarket chain Tesco also offers insurance and loans at its stores. Bloomberg (21 Dec.) - Turkey's Enka decides to remain in Russian retail business
Enka, the Turkish developer, has decided to develop its CityStore chain in Russia, canceling plans to leave the country's retail sector. Enka opened two CityStore mini-markets, the retailer's new format, according to Birol Yuksel, marketing director for Enka TTs. "Today the chain includes 16 stores, and we're looking for opportunities to develop," Yuksel said. The Moscow Times (22 Dec.)  | Olympic leadership lessons from USA Basketball
Discover the tactics that Jerry Colangelo employed to overcome USA Basketball's Olympic losing streak. Learn how Colangelo and Coach K built a team that could compete internationally & how to adapt your leadership style to gain the same type of success. Check out Sustaining the Leadership Edge for just $75. |
 | Retail in Asia |  | | | - Sa Sa to expand business on Chinese mainland
Sa Sa International Holdings plans to make the mainland China market a priority, increasing the number of its stores from 23 to 32 by March and 100 in the next couple of years. Market observers said that Asia's largest cosmetics retailer is striving to bolster market share in China, where it has faced significant challenges. Global Times (China) (22 Dec.)  | "Healthy Eating: A guide to the new nutrition" —A special report from the experts at Harvard Medical School helps you understand which foods help you prevent disease and which ones put you on a collision course. 30% off and free shipping for SmartBrief readers. Click here to order Healthy Eating. Now available in hard copy or electronic download. |
 | Retail in Latin America | | | | - Retailers in Kingston, Jamaica, draw shoppers with discounts
Retailers in downtown Kingston, Jamaica, say heavy discounting has attracted shoppers and some say business is improving. However, at least one retailer is considering closing as business remains depressed. Others, such as Bashco, are updating in an effort to lure more shoppers from uptown. Jamaica Gleaner (22 Dec.) | E-commerce Spotlight | | | | - Amazon, Play.com lead satisfaction ratings, survey finds
ForeSee Results, specialists in customer-satisfaction measurement and management, released its annual customer-satisfaction index, with Amazon.com and Amazon.co.uk topping the list. The survey found that top-rated retailers continue to improve, while others fall behind. Play.com was ranked third on the list. The Guardian (London) (22 Dec.) | Spotlight on Luxury Goods | | | | - LVMH boosts stake in Hermes despite family opposition
LVMH Moet Hennessy Louis Vuitton has said again that it is not seeking a board seat at Hermes International or control of the company as it increases its stake in the French company. LVMH now owns more than 20% of Hermes. Descendants of the family that founded Hermes said this month that they are bolstering their defense against a takeover of the company. Bloomberg (21 Dec.) | NRF News | | | | - Smaller marketing budget? Focus on relevancy
How relevant are your marketing communications? Studies reveal that up to 63% of consumers have abandoned or will consider abandoning a brand altogether because of irrelevant communications. In a recent white paper made available at NRF's Retail Reference Center, Connie Hill of VeraCentra shares how relevancy, executed well, "can prevent customer defection, improve customer satisfaction and increase customer spending while reducing marketing costs." Read more.
| SmartQuote | | | |  | Happiness is not so much in having or sharing. We make a living by what we get, but we make a life by what we give."
--Sir Norman Duckworth Kerr MacEwen,
British Royal Air Force officer  |
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