  | Global retail industry news |  |
- Canadian Tire's popular currency to become collector's item
Canadian Tire has been publishing its own currency for more than 50 years, using the bills as coupons that customers can spend on their next visit. Older versions of the bills have become collector's items, and many small businesses across the country accept the coupons as currency, but now the retailer plans to phase out the paper "money" in favor of plastic loyalty cards. The Wall Street Journal (10 May.)       - Europe's retailers expect more belt-tightening
Europe's economy is expected to contract 0.3% this year and grow 1% in 2013, the European Commission said Friday, as consumers feeling insecure about their personal finances continue to cut back on spending. Global luxury brands including Hermes expect to offset slower business at home with higher sales in international markets including the US, Latin America and Asia. Women's Wear Daily (subscription required) (14 May.)  | Interactive marketers are feeling the pressure from government to offer clear, transparent privacy regulations for consumers. This free whitepaper, discusses various legislation, such as the EU Cookie Directive, and outlines how marketers must comply while offering a positive and enriching consumer interaction via the new paradigms of consensual targeting. Get the free whitepaper here. |
 - China, India see slower growth
Production and consumption growth slowed in India and China in March and April, raising concerns about the strength of the global economic recovery. "Things look very shaky in Europe and the U.S. economy is decelerating. The last thing we need is for the emerging world to downshift," said Frederic Neumann, co-head of Asian economics research at HSBC in Hong Kong. ABC News/The Associated Press (11 May.) - UK's Paul Smith to debut Shanghai flagship
UK fashion label Paul Smith will open a 5,000-square-foot China flagship in Shanghai late this year, the brand's first step in a plan to add 24 stores in China during the next five years. "Chinese consumers are becoming more sophisticated and brand-conscious. China's overall GDP may slow, but the middle-class is growing," said Balbina Wong, CEO for China distributor ImagineX Group. Bloomberg Businessweek (13 May.)  | The recruiting ecosystem is changing, led by professional social networks like LinkedIn and social media apps like Jobvite. Examine how the new ecosystem creates a streamlined, scientific and democratic approach to the recruiting process in this free white paper. |
 - Shop.ca aims to tap pent-up demand for online shopping
A Canadian start-up called Shop.ca has signed 850 retailers and brands to sell their wares on its website, which aims to rival Amazon. Online retail sales have seen slower growth in Canada than in the rest of the world, as domestic retailers struggle to make e-commerce work and US brands launch sites that often come with higher price tags and smaller selections in Canada, experts say. The Globe and Mail (Toronto) (13 May.)  | How Safe Are You from Retaliating Claims? Easy to establish, these claims are growing, used as a tool for workers seeking monetary rewards. Reduce your risk with the FREE Retaliation Prevention Checklist. Don't wait another day to protect your organization. DOWNLOAD NOW! |
 | Spotlight on Mass Merchandise |  |  | | |  | - Falling cotton prices to help retailers' bottom lines
Cotton prices hit a 21-month low and continue to decline as US production rises and demand from manufacturers in China and India slows, according to the USDA. It's good news for apparel retailers including Gap and Abercrombie & Fitch, which expect to see lower costs in the second half of the year. Bloomberg (11 May.) - P&G to relocate cosmetics HQ to Asia
Procter & Gamble will move the headquarters for its cosmetics, skin care and personal care division from Cincinnati to Singapore during the next two years, part of an ongoing push by the company to move divisions closer to areas with growing customer bases. P&G brands led by Olay account for 5.8% of Asia's $42.3 billion skin-care market. The Wall Street Journal (10 May.) - Li Ning shifts focus to children's clothing
Chinese sportswear and apparel brand Li Ning has made children's wear its key focus, in an effort to turn around flagging sales as the next generation of parents spend more on their only children. "Children's wear is far more profitable, given that the sizes are smaller, but the prices are similar," said luxury goods researcher Yang Qingsha. China Daily (Beijing) (12 May.)  | Hot off the Presses! Q2 2012 ERP Comparison Guide
Get off to a successful start in the new quarter by shortening the time needed to purchase ERP software. Begin accurately controlling costs, inventory, and revenue forecasts. Learn how in this free download from Ziff Davis. |
 | NRF News | |  | | - How cloud technology can revolutionize the supply chain
In the retail supply chain, it's essential to know what's going on and what is where at any given moment. At NRF's Global Supply Chain Summit in Atlanta, GT Nexus co-founder and CMO Greg Johnsen explained how cloud technology is changing the supply chain industry and presented steps for easing your company into this very complex solution. Read more. Retail's BIG Blog (08 May.)
| SmartQuote | | | |  | Society is like the air; necessary to breathe, but insufficient to live on."
--George Santayana,
Spanish-American writer and philosopher  |
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