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| Global retail industry news |  |
- Lowe's applauds Rona's shift to smaller stores
Canada's Rona made the right move when it began downsizing stores and closing unprofitable big-box locations, said Doug Robinson, Lowe's head of international operations. The US home improvement chain is still pursuing its $1.8 billion bid to buy Rona, despite the Canadian company's refusal to discuss the proposal. The Globe and Mail (Toronto) (08 Aug.)      - Woolworths opens 1st grocery "drive-thru"
Woolworths has opened a drive-thru window at its store at Woolworths Warringah Mall in Sydney, Australia, which will let click-and-collect online shoppers pick up their purchases without leaving the car. "Customers are constantly telling us that they want more flexibility around how and when they shop," said national online operations manager Brian Sturrock. Inside Retailing Online (09 Aug.) - Nigeria looks to build jobs with retail growth
South Africa-based Shoprite plans to open about 700 new stores in Nigeria in the coming years, bringing the prospect of jobs and a boost to the country's retail sector, which currently accounts for about 19% of total GDP, according to speakers at a recent conference. Multinational retailers including Wal-Mart are also starting to see possibilities in the country, where the government is looking to retail to help alleviate poverty and promote economic development. BusinessDay (Nigeria) (08 Aug.)  | NEW RESOURCE: How to Avoid 10 Potential Risk Pitfalls
When it comes to operating at peak performance, today's small and growing companies face a variety of obstacles that can prevent them from meeting their business goals. Learn to identify those foundational distractions and get recommendations for minimizing or eliminating those risks altogether. Download the FREE guide here. |
 | Retail in Europe |  |  | | - UK food retailers get ready to count summer's costs
UK supermarket chains looked forward to a summer of strong sales amid celebrations capped by the London Olympics, but bad weather, economic worries and deep discounting may have taken a bigger-than-hoped-for bite out of the bottom line, analysts say. "Sadly, July was a lackluster month, and it's doubtful this trend will change as early expectations that the Olympics will raise retailers' fortunes look to be wide of the mark," said KPMG's Helen Dickinson. The Wall Street Journal (08 Aug.) | Retail in Asia | | | | - China's retail sales growth slowed in July
Factory output growth in China fell to a three-year low last month and retail sales growth slowed to 13.1% from 13.7% in June, statistics that may persuade the government that more stimulus is needed to reverse an economic slowdown, said IHS Global Insight analyst Alistair Thornton. The government has already cut interest rates twice and boosted spending on public works projects this year. San Diego Union-Tribune/The Associated Press (09 Aug.) - Vancl shifts production to less-pricey Bangladesh
Online apparel retailer Vancl has moved some of its production from Chinese factories to a manufacturer in Bangladesh. Labor costs in Bangladesh and other Southeast Asia markets are about 30% lower than in China, and Vancl cut costs between 5% and 10% with the move, the company said. China Daily (Beijing) (08 Aug.) | E-commerce Spotlight | | | | - Discounts drive double-digit e-commerce growth in China
Online retail sales in China grew 46.6% in the first half of 2012 compared to the same period last year, according to the China e-Business Research Center. Online deals and discounting are likely to further boost e-commerce in the second half of the year, but price wars could ultimately hurt online retailers' bottom lines, some experts say. China Daily (Beijing) (08 Aug.) - Online is a bright spot for UK retail
Online retail sales in the UK grew 15.6% in the past year, a bright spot in an otherwise lackluster retail picture, according to a report from KPMG and the British Retail Consortium. "There's also evidence of click-and-collect services growing in popularity as shoppers become more confident about using the full range of shopping options available to them thanks to new technology," said BRC Director General Stephen Robertson. ComputerWeekly.com (U.K.) (08 Aug.) | Spotlight on Consumer Electronics | | | | - Best Buy founder would shift gears on turnaround
Lower prices to compete with Amazon and beefed-up in-store service a la Apple stores reportedly would be key parts of a Best Buy turnaround strategy if founder Richard Schulze succeeds in his bid to buy the company. Before that can happen, Schulze must convince private-equity partners to sign on to a deal that would likely reverse current cost-cutting measures. The Wall Street Journal (08 Aug.) | NRF News | | | | - How mobile impacts the retail experience
Today's retail environment requires retailers to constantly review and analyze whether their mobile app or site is encouraging customer loyalty and driving sales -- or if it's steering customers away to the competition. In a STORES webinar on 30 Aug., ForeSee's Director of Mobile Eric Feinberg, Sr. will explain how new mobile-friendly analytics technology can help retailers accurately measure customer satisfaction to develop strategies that create seamless mobile experiences. Learn more or register.
| SmartQuote | | | |  | Actions are the seed of fate. Deeds grow into destiny."
--Harry S. Truman,
33rd U.S. president  |
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