| Global retail industry news |  |
- Watches to drive luxury-goods sector
The brand recognition and stability of upscale watches will contribute to the success of the luxury goods market in 2011, said a fund manager at ING. "Compared to other luxury products, like handbags for example, brand recognition in the watch industry tends to be higher. Rolex, Swatch and Patek for example. And sales of these brands are prospering particularly," said Huub van der Riet, the fund manager. Reuters (04 Jan.)        - Impending VAT increase spurs post-Christmas trading
Consumers in the UK are rushing to beat the increase in the value-added tax by taking advantage of post-Christmas sales, retail executives said. John Lewis retail director Andrew Murphy noted strong footfall in his stores, but retailers are focused on the outlook. "For us now the interesting thing is what happens next," he said. Telegraph (London) (04 Jan.) - Tesco service trades cash for gold
The strong price of gold prompted Tesco to develop a service that allows customers to swap gold jewellery for cash. Consumers can use a prepaid Royal Mail special delivery bag to send their gold or swap it in certain Tesco Extra locations. Customers then receive a letter with an offer. Telegraph (London) (04 Jan.)  - Future Group aims to build sales for private brands
Retailer Future Group plans to drive sales by focusing on private brands. "We would like to focus on private brands such as Fresh & Pure, Tasty Treat, Clean Mate rather than in store labels which can only be sold in one format. We want to use our customer insight and the right go to market strategy to build sales for our private brands including Ektaa," said Devendra Chawla, business head of private brands at Future Group. Financial Chronicle (India) (04 Jan.) - Pizza Hut opens 500th restaurant in China with more to come
Zhu Zongyi, president for the Chinese operations of Pizza Hut parent Yum! Brands, said Yum! plans a significant investment in Lanzhou, the capital of China's Gansu province. Pizza Hut has entered Chinese cities of various tiers rather than focusing solely on coastal cities, said Gao Yao, general manager for the Pizza Hut brand at Yum! China. ChinaRetailNews.com (04 Jan.)  | Retailers need to have a firm understanding of modern day consumer attitudes and behaviors and adjust strategies around this to maximize sales potential. Find out more on, 'The Evolution of Promotional and Pricing Incentives in Consumer Packaged Goods' here: |
 - Report: E-commerce on track to hit $963 billion by 2013
 Online retail is growing rapidly, with 38% of consumers buying online at least once a month and only 12% avoiding the shopping channel altogether, according to an annual report from J.P. Morgan. The report forecasts that global e-commerce will grow 18.9% this year and hit $963 billion by 2013. TechCrunch (03 Jan.)  | 50% Savings on Web's Biggest Business Blogging Event
Join 23 experts (including Technorati's CEO, Scott Monty, & experts from McDonalds, Southwest Airlines, and Procter & Gamble) as they help you master business blogging at Blogging Success Summit 2011. Fully online. Click here for free sample class. |
 | Spotlight on Luxury Goods |  | | | - Affluent Chinese drive luxury sales in Hong Kong
Leo Wong is a Hong Kong-based dealer for Lamborghini and various yacht manufacturers who has been able to capitalise on the influx of wealthy Chinese consumers. In 2010, Wong's two dealerships sold 65 Lamborghinis, and he expects 2011 to be even better. Meanwhile, the effect of Chinese buyers on Hong Kong's fine-wine market has been even more substantial. However, some experts warn that the influx of cash is causing some problems in Hong Kong. Financial Times (tiered subscription model) (03 Jan.) | NRF News | | | | - Disney Store, Food Lion, HSN and Macy's to keynote Retail's BIG Show
At Retail's BIG Show, 9-12 January in New York City, executives from top retail brands will share what it takes to succeed in today's economic climate, as well as tips to position yourself for growth years down the road. Keynote topics will highlight how to respond to the changing consumer, how to fully engage with mobile, key business areas to focus on during economic uncertainty and how to provide an immersive retail experience. Learn more.
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