Thursday, September 1, 2011

Chinese visitors drive boom in Hong Kong's retail sales

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01 September 2011
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Global retail industry news

  Global Industry Watch 
 
  • Chains lose "specialness" when they land in fans' backyard
    Fans of foreign brands seem to lose some of their brand loyalty when the chains open stores in their hometown, a quirk recently illustrated when popular US apparel chain J.Crew opened its first stores in Canada. "When you wore something special that wasn't readily available in Canada, it communicated your commitment to shopping, your experience in traveling, your good taste," said marketing professor Alan Middleton. The Globe and Mail (Toronto) (30 Aug.) LinkedInFacebookTwitterEmail this Story
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  Retail in Europe 
 
  • Carrefour reports first-half loss despite sales increase
    Carrefour, the French retailing giant, said that it expects a 15% decline in annual operating profit after posting a first-half loss. However, the company's sales increased 2.3%. Carrefour's results were hit by non-recurring charges. "In the first half of 2011, Carrefour managed to grow its sales, driven by emerging markets, but overall results were unsatisfactory, weighed down by a poor performance in France and non-recurring items," said CEO Lars Olofsson. Google/Agence France-Presse (31 Aug.), Bloomberg (31 Aug.), The Guardian (London) (31 Aug.) LinkedInFacebookTwitterEmail this Story
  • UK consumers plan to shift to discounters, survey finds
    IGD has released the results of a monthly survey that found about 29% of British consumers are planning to switch from their usual supermarkets to Aldi, Lidl and other discount stores. The shift comes as inflation escalates while the economy remains fragile. "The vast majority of shoppers believe that food inflation is set to increase over the next 12 months," said Joanne Denney-Finch, chief executive at IGD. "They are not taking it lying down and instead are prepared to sacrifice some of their time by shopping around at different retail formats, from discounters to frozen food stores, to get the best deals." The Telegraph (London) (01 Sep.) LinkedInFacebookTwitterEmail this Story
  • Other News
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  Retail in Asia 
 
  • Chinese visitors drive boom in Hong Kong's retail sales
    Hong Kong is teetering toward its second recession in just a few years, but its retail sector is enjoying a sales boom thank mostly to shoppers from China. Hong Kong's statistics department reported a 25% jump in sales for the first seven months of 2011. Chinese tourists are "a crucial lifeline for Hong Kong's economy," according to Hong Kong-based economist Donna Kwok. "Hong Kong shoppers seem immune to inflation and global financial market turmoil." Bloomberg (31 Aug.) LinkedInFacebookTwitterEmail this Story
  • India's retailers plead to government for safeguards
    Representatives of retailers in India have called on the government to protect the interests of small and medium merchants and traditional businesses. The retailers are concerned about how opening up the country's retail sector to foreign-direct investment will affect them. The Hindu (India) (31 Aug.) LinkedInFacebookTwitterEmail this Story
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  E-commerce Spotlight 
 
  • Belle invests in online shoe retailer Yougou.com
    Li Xuejun, chief executive officer at the online shoe retailer Yougou.com, said that the firm has received a $200 million investment from Belle International Holdings Limited, one of the top women's shoe merchants in China. The move is part of Belle's plans to increase its online presence. The Business Insider (31 Aug.) LinkedInFacebookTwitterEmail this Story
  • China's 360buy.com has ended partnership with Alipay.com
    China's 360buy.com said that Alipay.com's service fees have become too high as it published a notice that its cooperation with the Internet payment service provider has been terminated. The move means that 360buy.com customers can no longer use their Alipay.com accounts to make purchases on the site. ChinaRetailNews.com (31 Aug.) LinkedInFacebookTwitterEmail this Story
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  Spotlight on Consumer Electronics 
  • Higher Chinese incomes help boost Suning's profit
    Suning Appliance reported a 24% surge in quarterly profit. The large Chinese electronics retailer has added outlets to meet increased demand. Suning's rival Gome Electrical Appliances Holdings also recently reported a significant increase in earnings. Bloomberg (30 Aug.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • Study: 3 of 4 consumers avoid registering for new online accounts
    If your company is considering required sign-in for online transactions, read a newly-released white paper by Janrain on consumer perception of online registration. While 3 out of 4 consumers take steps to avoid creating new accounts, two-thirds would prefer using their existing social sign-in versus a separate sign-in. These pro-SSI consumers turn out to be valuable customers, indicating that they not only spend more now but also would be more likely to return to and buy at a sign that automatically recognizes them. Read more. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Routine is not organization, any more than paralysis is order."
--Arthur Helps,
British writer


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September 1, 2011
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  What's Happening 
  • Go social to get more out of your next conference
    SmartBrief exhibited at the ASAE Annual Meeting last month, attending many education sessions and sharing our findings on Twitter. We learned that conference planners and panelists should make use of social tools to improve attendees' experiences. Presenters can share their Twitter handles with the audience and actively solicit Twitter comments, while planners can monitor social buzz to get updates on which panels are full and which may be facing logistical or technological problems. Read seven more tips for your next event.
 
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  Leadership Focus 
  • Is your organization in crisis? It's time to put on a show
      
    When crisis hits, true leaders step into the spotlight and start talking, says John Baldoni. By making themselves available and accountable, senior leaders inspire confidence and make it clear that they're bringing a disaster under control. "Communicating in a crisis may be a discipline, but it's also public theater. Leaders need to be seen as well as heard," Baldoni says. SmartBrief/SmartBlog on Leadership (8/12)
  • How a true leader spends his time
    Great leadership doesn't come from learning techniques in a class or by mimicking someone else's style, but rather from developing clear values and goals to direct the organization, says Rajeev Peshawaria, CEO of the ICLIF Leadership & Governance Centre and author of "Too Many Bosses, Too Few Leaders." "To become a leader, one must feel deeply about the inadequacies of current reality and decide to do something about it -- and these things come from within," he says. SmartBrief/SmartBlog on Leadership (8/15)
  • 4 things businesses can learn from Burning Man
    The Burning Man festival is a weeklong celebration of anti-consumerism, but it's also a model that many businesses can learn from, writes E.B. Boyd. The festival works because it trusts attendees to behave well, and it gives them latitude to unleash their creativity, Boyd writes -- principles that many business leaders would do well to emulate. "Trust people and they will usually live up to that trust. Give people creative freedom, and they will surprise you with what they deliver," Boyd writes. FastCompany.com (8/25)
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  Media 2.0 
  • 4 tricks for handling more than 1 social media account
    Most agencies have multiple clients, each with multiple social media outposts, and it's easy to get things mixed up, Brian Honigman writes. The key to keeping things straight is a clear organizational structure that establishes who's responsible for each account. "Delegated work flow based on the market or platform helps to lower the chances of cross-pollination and inconsistency across the client's accounts," Honigman writes. Mashable (8/18)
  • Content marketing as a way to connect and get an edge
    Content marketing, which too often is thought of as a burden, should instead be considered a vital way to connect with customers and perhaps win an edge in a tough economy, says Ann Handley, chief content officer of MarketProfs and author of "Content Rules." But the success that any particular business seeks in content marketing depends first on defining goals. "If you can answer the why question, then you'll be able to see what success looks like down the road," Handley says. B2C Marketing Insider (8/16)
  • How to lure your followers from Facebook to your site
    Facebook is a "sticky" platform, which can cause problems for brands hoping to steer users to an external branded website. To peel users away from Facebook without disrupting your presence there, try using your Facebook page to promote high-quality blog posts on your main site and posting "teaser" messages that pique users' interest without fully satisfying it, Ben Pickering writes. "Some might find this a bit sneaky, and it's not something you want to do all the time, but it can be an effective way to entice a click," he writes. SocialMediaExaminer.com (8/17)
  • Other News
  SmartNugget 
  • Morton's rewards joking tweet with free meat
    A hungry traveler jokingly posted a tweet asking for someone to meet his plane with a porterhouse from Morton's: The Steakhouse -- and he disembarked to find a tuxedo-clad Morton's staffer awaiting him with a steak, a serving of shrimp, and even silverware and napkins. That involved an impressive degree of coordination between the chain's national social media team and a local restaurant, David Murphy writes. "Morton's has certainly shown that combining a good deed, savvy social marketing, and the ability to rapidly execute on ideas can cook up a porterhouse of publicity," Murphy writes. PC Magazine (8/21)

 
 
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