Wednesday, June 27, 2012

London's luxury merchants court Chinese visitors

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27 June 2012
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    The growth of online shopping means retailers need fewer brick-and-mortar stores to maintain a national presence and hang onto market share, John Lewis Partnership Managing Director Andy Street said this week. "We believe that national coverage for an online retailer in 2020 is no more than about 60 or 70 shops. The days for needing 200 to cover the U.K. are clearly history." Bloomberg Businessweek (26 Jun.) LinkedInFacebookTwitterEmail this Story
  • Poland's retailers see stronger sales growth in May
    Retail sales in Poland grew 7.7% in May from the same month last year, following a 5.5% increase in April that was the smallest in nearly two years, according to the Central Statistical Office. "The rebound in May sales was a return to normal levels after the April figure got depressed by an early Easter," said Maciej Reluga, chief economist at Bank Zachodni. Bloomberg Businessweek (26 Jun.) LinkedInFacebookTwitterEmail this Story
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  • Groupon's China effort to merge with local deal site
    Gaopeng, a 16-month-old e-commerce venture in China in which Groupon has a minority stake, is merging with Tencent-backed deal site FTuan, the companies said Tuesday. Online group buying in China more than doubled last year, to about $677 million, according to iResearch. Bloomberg Businessweek (26 Jun.) LinkedInFacebookTwitterEmail this Story
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  • Brazilian mall developer sees strong demand
    Sao Paulo-based mall developer Iguatemi Empresa de Shopping Centers says retail sales growth may be slowing a bit but demand remains strong enough to continue with plans to build or expand eight malls throughout Brazil in the next three years. Some 36 new shopping centers are slated to open in Brazil this year, up from 22 last year, according to The Brazilian Association of Shopping Centers. Bloomberg (26 Jun.) LinkedInFacebookTwitterEmail this Story
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  • Mobile drives more sales for Ocado
    Online grocer Ocado saw 24% of its sales from mobile checkouts in the first half of the year. The company recently launched a new version of its site called "Ocado on the Go," which is available on iOS, Android, Windows Phone 7 and BlackBerry. Computerworld UK (26 Jun.) LinkedInFacebookTwitterEmail this Story
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  Spotlight on Luxury Goods 
 
  • Demand for something new keeps luxury market strong
    The world boasts about 11 million millionaires, and their collective wealth declined less than 2% during the downturn, according to the annual World Wealth Report. The globe's wealthiest consumers are keeping the luxury industry strong, especially when it comes to one-of-a-kind experiences from flying a fighter jet to trekking through glaciers. The Guardian (London) (23 Jun.) LinkedInFacebookTwitterEmail this Story
  • London's luxury merchants court Chinese visitors
    London's four-star Grosvenor hotel will launch a Chinese breakfast menu next month and Harrods has created a mobile application in Mandarin, more moves aimed at wooing wealthy Chinese visitors. Retailers across the city that have been increasingly catering to Chinese tourists are stepping up their games as the Olympics approach. China Daily (Beijing) (27 Jun.) LinkedInFacebookTwitterEmail this Story
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