  | Global retail industry news |  |
- Swiss franc's strength prompts supermarkets to cut prices
Migros, Coop, Denner and other supermarkets in Switzerland are further reducing prices to counter the surging Swiss franc, which is prompting some consumers to travel to Germany and France for their groceries. "Because of the Euro we have had negotiations with our suppliers like Nivea and Ferrero," said Martina Bosshard, spokeswoman for Migros. "We will continue to negotiate. We want lower prices when we import and we want to give lower prices to our customers." The Wall Street Journal (tiered subscription model) (23 Aug.)        | The business phone system market is constantly changing. Vendors are battling for your business with expanded feature sets and competitive pricing. How do you know which system is right for your enterprise-class business? Focus Experts have just completed a comprehensive guide for 2011 to help you assess your needs and choose a phone system that fits. |
 | Retail in Asia |  |  | | - Coca-Cola plans to ramp up investment in China
Coca-Cola is planning to expand in the Chinese market by investing about $4 billion there over the next few years. Coca-Cola Chairman and CEO Muhtar Kent said the investment will be used for a variety of initiatives, including construction of new facilities and production lines, innovation and marketing. ChinaRetailNews.com (23 Aug.)  | The Plum Card®
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  - Electrolux to acquire Chile's Compania Tecno Industrial
Stockholm-based Electrolux has agreed to purchase Compania Tecno Industrial, an appliance company based in Chile, in a deal valued at roughly $690 million. The acquisition will make Electrolux the biggest appliance supplier in Chile as well as Argentina. "Latin America is very important to our growth plans," said Electrolux CEO Keith McLoughlin. Bloomberg (22 Aug.)  | E-commerce Spotlight | | | | - Japan's e-book market plagued by chaos
Japanese consumers are being dissuaded from purchasing e-books due to a confusing maze of stores, high purchase costs and trouble rendering text, according to experts. "The big problem is one of interoperability between bookstores. There is an attempt ongoing at the moment by Rakuten [a web-based retailer], Panasonic, Sony and bookstore Kinokuniya to develop this. But it is difficult to see such an initiative being broadly adopted," said Robin Birtle, chief executive officer at Sakkam Press. TheBookseller.com (U.K.) (23 Aug.) - Koreans boost purchases of gold from online retailers
The online retailer G-Market reported a significant increase in its sales of solid gold as more Koreans go online to make such purchases. Prices of pure gold in South Korea have skyrocketed, driving the online sales increase. "Adding to price merits, consumers can get guarantee for quality as certificates are offered together. They also can check the reviews of other customers," according to a G-market official. The Korea Herald (Seoul) (22 Aug.) - Asos to launch standalone Australian website next month
Asos' new Australian website will be priced in AUD, offer local returns and feature editorial content tailored to its audience. The online fashion retailer recently launched standalone sites in the US, France and Germany. "We knew early on the enormity of the growth opportunity abroad and that our customers wanted their own Asos experience," said Asos CEO Nick Robertson. Inside Retailing Online (23 Aug.) | Spotlight on Grocery | | | | - Africa's Shoprite reports 12.4% rise in full-year profit
Shoprite, the largest grocery retailer in Africa, posted a 12.4% jump in full-year profit, exceeding analysts' estimates. Shoprite said that prices likely will increase in the next fiscal year, but intensified competition, notably from Wal-Mart Stores, will help keep prices in check. "Competition is expected to further intensify. However, we believe the Group is well equipped to deal with the challenges that will confront it in the new financial year," Shoprite said. Reuters (23 Aug.) | NRF News | | | | - How to develop retail management superstars
Looking to engage new sales managers or deepen retail management principles for retail managers? NRF University wired, the NRF Foundation's eLearning platform, offers a series of online retail management courses designed to provide a basic overview of retail industry concepts and processes as well as an understanding of the accountability required as a retail manager. These industry-developed courses can be taken individually or as a series, depending upon training needs. Learn more.
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