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| Global retail industry news |  |
- Hundreds of New Zealanders vow to boycott adidas
New Zealanders are upset about the price of adidas' All Blacks jerseys and have vowed to boycott the sports giant until it cuts the price or allows them to buy online. The company is standing firm, however. "We're comfortable our price to local retail trade is a reasonable one," said Country Manager David Huggett, who noted there are "dozens" of online sites where the jerseys can be bought. The New Zealand Herald (10 Aug.)       | As eCommerce has grown to represent a significant percentage of retail sales and profits, merchants should consider payment strategies that can enhance their online services, open new markets and protect the bottom line. Download this free white paper to learn more. |
 | Retail in Europe |  |  | | - Riots expected to cost UK retailers millions of pounds
The British Retail Consortium is warning that the rioting, arson and looting in the UK could cost retailers tens of millions of pounds in losses and other expenses. "Many retailers were under quite a lot of pressure anyway, particularly some of the smaller independent ones who haven't got big national resources to draw on, and undoubtedly in some cases it won't be viable for them to start up again," said Richard Dodd, head of media at the BRC. Reuters (09 Aug.) - UK baker Greggs sees sales growth cool
Greggs reported a 0.4% rise in sales in the 26 weeks to July 2. The UK baker cited additional bank holidays as contributing to its sluggish performance. "Trading conditions have proved to be more challenging than we had expected and we do not anticipate that the second half will bring any alleviation of the tougher consumer spending environment with disposable incomes remaining under pressure," said CEO Kennedy McMeikan. The Telegraph (London) (09 Aug.)  | The Business Gold Rewards Card® from American Express OPEN
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  - Aeon considers establishing real estate investment fund
The Japanese retailer Aeon said it is looking into creating a real estate investment fund as it aims to generate overseas revenue streams as its home market stagnates. Aeon said no decision has been made, but it's been reported that the company will launch a real estate investment trust to help finance its expansion. AsiaOne News/Reuters (10 Aug.)  | How 2 Global Brands Use Online Video to Drive Retail Sales
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 | E-commerce Spotlight | | | | - Kogan to honour orders placed after "bug" hit website
A glitch in Kogan's website resulted in set top boxes being priced and sold for $9, which the online retailer said it will honour. "Shoppers were able to incorrectly use several promotions in conjunction, with a $30 voucher being combined with today's storewide free shipping resulting in over 500 orders of the Kogan Set Top Box and Personal Video Recorder for only $9 delivered, in addition to hundreds of other items," according to a statement from the retailer. Inside Retailing Online (10 Aug.) | Spotlight on Luxury Goods | | | | - Hermes to offer limited edition silk sarees in India
A representative of Hermes India confirmed that the company plans to offer a limited edition collection of silk sarees that will be priced at $1,800 in India later this year. Hermes launched a similar offering in 2000 in London. Those sarees were designed by Sunita Kumar, a designer based in Kolkata. "They launched the sarees for the Millennium collection. I am happy they are again bringing the saree to India," Kumar said. The Economic Times (India) (09 Aug.) | NRF News | | | | - Dress Barn, hhgregg, Netflix among fastest growing retailers in U.S.
A fresh batch of retailers is benefiting from precise market segmentation, innovative solutions and good old-fashioned popularity among consumers. According to the STORES Hot 100 Retailers list, published in the August issue of STORES Magazine, the fastest-growing retailers in the U.S. are thinking outside the box -- and seeing big rewards. Read more.
| SmartQuote | | | |  | It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford,
American industrialist  |
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