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| Global retail industry news |  |
- "Omnichannel" consumer emerges as latest retail trend
This year's must-have for retailers? The omnichannel customer. More attractive than the multichannel consumer, the omnichannel customer tends to spend more with single brands. "Multichannel shoppers spend, on average, 15% to 30% more with a retailer than someone who uses only one channel. IDC Retail Insights estimates that omnichannel shoppers will spend over 20% more than multichannel consumers, will exhibit strong loyalty, and will influence others to [patronise] the retailer," said Ivano Ortis, research director at IDC Retail Insights. InternetRetailing.net (30 Nov.)        | D&O Insurance: Indemnity from the Top Down
By Elizabeth Wasserman, October 19, 2010
Shareholder lawsuits filed against AIG and other financial services firms at the onset of the recession has driven demand for director and officer (D&O) insurance at all manner of enterprises, including mid-size companies. |
 - Carrefour reduces full-year profit target
Carrefour will incur €550 million in one-off charges related to its operations in Brazil, prompting the company to cut its 2010 operating profit target. "What happened in Brazil was clearly a malfunction," Carrefour CEO Lars Olofsson said. "We are determined to do what it takes to get to the bottom of what I call earlier mismanagement." Executives at the French retailing giant said the charges are related to issues raised following an audit. The Wall Street Journal/Dow Jones Newswires (30 Nov.) , Bloomberg (01 Dec.)  | Xerox® ColorQube® solid ink printers, starting at $699.
With 90% less waste and speeds up to 40 ppm, ColorQube® is your perfect solution for affordable color printing. Plus, save up to $300 with a trade-in rebate. Enter to win an Apple® iPad™. |
 - Italy's Benetton offloads retail stores in India
Benetton, a fashion retailer based in Italy, has sold roughly 100 stores it owned directly to its franchise network in an effort to de-risk its Indian operations. The move comes as Indian officials consider opening up the country's retail sector to more foreign direct investment. Benetton has been allowed to own its stores in India despite its 2004 split with its local partner. The Times of India (01 Dec.) - Retail sales in Hong Kong soared 21.6% in October
Retail sales in Hong Kong reached $3.6 billion in October, a 21.6% increase over the same month the previous year. Consumers splurged on electrical goods, cars and jewelry as the unemployment rate fell, interest rates remained low and capital inflows bolstered consumption. Bloomberg (30 Nov.)  | Gain insight into the overall health of U.S. businesses and how to leverage new tools to better manage business, while reducing risk exposure. View our on-demand Webinar Gain a clearer picture of small-business risk in an uncertain market. |
 - ASOS supports young design talent with new programme
Online fashion giant ASOS has joined forces with the London College of Fashion to launch collections by a couple of the school's MA graduates. "As an established supporter of up-and-coming creative talent, we feel that it is important to mentor and share our expertise with young designers," said Caren Downie, buying director at ASOS. "Through MA}ke, we want to give our customers access to beautiful, considered pieces whilst giving young designers a vital leg up in the industry." Retail Week (U.K.) (01 Dec.)  | HR Best Practices: Delivering Strategic Value to the Enterprise
Establishing HR best practices that are supported with technology can help achieve greater efficiency. HR processes reduce the burden of handling administrative tasks and deliver strategic value to the organization by equipping managers with the right information. Learn how in this free white paper sponsored by SAP. |
 | Spotlight on Luxury Goods |  | | | - Chinese company courts luxury retailers with technology
Zhongjie "Sunny" Jiang founded Waltz, an information technology company based in Wuxi, China, last year to sell advanced technologies to luxury retailers interested in standing out from the crowd. Waltz uses iPads, 3D animation and other cutting-edge technologies to help retailers display their products and interact with customers. In this interview, Jiang discusses how he came up with the idea for the company, his competitors and challenges the company faces. Bloomberg (30 Nov.) | NRF News | | | | - Register for Retail's BIG Show by 3 Dec. and save
Attendees making their way to New York for NRF's 100th Annual Convention & EXPO can save more than $300 by registering before 3 Dec. NRF retail members save even more when registering a five-person retail team. The Convention & EXPO is scheduled for 9 to 12 Jan. at the Jacob K. Javits Convention Center. Learn more.
| SmartQuote | | | |  | Think like a man of action, and act like a man of thought."
--Henri Bergson,
French philosopher  |
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