| Global retail industry news |  |
- Lotte says men, working moms, baby boomers are the big spenders
South Korea's Lotte Department Store said a breakdown of its customer spending shows that working mothers, men and baby boomers have become increasingly important to retailers. Consumers in their 50s increased spending at Lotte locations by 37% from 2008 to this year. "The growth of customers in their 50s can be attributed to the influence of the baby boomer generation," said a Lotte representative. They are "investing heavily in exercise, sports and cosmetics." JoongAng Daily (South Korea) (27 Dec.)        | Increase Sales with the TRUSTe Seal
Download this case study to see how one company added the TRUSTe seal to lead registration forms and their shopping cart, and saw an enormous 84% lift in purchases, and a 72% increase in revenue per visitor lift. Learn how a consumer-facing seal can accelerate a transaction, and why visitors feel an increased level of trust upon seeing the TRUSTe seal. |
 - Private-equity firm acquires Germany's Takko
Christian Naether, a partner at private-equity firm Apax Partners, said the company sees "enormous potential for expansion" of Takko, the German discount clothing retailer. Apax acquired Takko from Advent International, another private-equity firm. The deal is expected to close early next year, according to Advent. Reuters (23 Dec.) - Retail CEOs urge UK to reconsider rise in business rates
Dalton Philips, CEO of William Morrison, is one of several retail executives who asked the British government not to proceed with an increase in business rates due to take effect in April. The executives said the increase would threaten the economic recovery. Lucy Neville-Rolfe, Tesco's corporate and legal affairs director, said it would put a disproportionate financial burden on retailers. Mark Price, Waitrose's managing director, said the increase is "unhelpful." Telegraph (London) (26 Dec.)   - Seven & I to drop trans-fat foods
Seven & I Holdings, one of the largest retail conglomerates in Japan, wants to eliminate trans fats from its shelves, according to company sources. The company, which includes Ito-Yokado supermarkets, Seibu and Sogo department stores and Seven-Eleven convenience stores, plans to remove trans fats from its house brands and encourage food suppliers to do the same. MarketWatch (26 Dec.)  | Discover the 'Future of Sustainable Household and Laundry Care Packaging'. Covering home and laundry care, it outlines the major drivers and inhibitors of sustainable packaging mostly from a consumers' perspective. Find out more: |
 - Chinese online retailer secures funding from 6 partners
China's 360buy Jingdong Mall, an online retailer of communications products and electronics, has secured $500 million in funding from Wal-Mart Stores and five other strategic partners. The company plans to use the money to expand its reach to Chinese consumers. Liu Qiangdong, CEO at 360buy, said the company plans to develop a logistics centre in China. Reuters (24 Dec.)  | Olympic leadership lessons from USA Basketball
Discover the tactics that Jerry Colangelo employed to overcome USA Basketball's Olympic losing streak. Learn how Colangelo and Coach K built a team that could compete internationally & how to adapt your leadership style to gain the same type of success. Check out Sustaining the Leadership Edge for just $75. |
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