| Global retail industry news |  |
| Global Industry Watch |  |  | | - Australian retailers to bear brunt of eftpos costs
Eftpos Payments Australia has increased its fees to ensure the viability of the payments system, according to Bruce Mansfield, managing director of the company. "We need to invest in and upgrade the existing eftpos system to ensure that it offers a world-class system -- to ensure it is fast, cheap and safe for consumers and merchants." Retailers in Australia are expected to cover much of the AU$220 million in extra costs each year. The Sydney Morning Herald (Australia) (09 Mar.)       | Retail in Europe | | | | - Sales drop forces Carpetright to close 7 stores in Ireland
Carpetright has decided to close seven stores in Ireland as sales declined over the past three years. The furnishings retailer said business has remained difficult and trading conditions are expected to continue to be tough. "Throughout this period Carpetright has sought to maintain the size of its Republic of Ireland operation, in anticipation of the hoped-for economic recovery," a spokeswoman said. "However, more than three years since the start of the downturn, and with no signs of a recovery yet in evidence, we have recently completed a review of the business to examine ways to improve its performance." The Irish Times (Dublin) (08 Mar.) | Retail in Asia | | | | - Best Buy to focus on expanding in inland China
Best Buy, which recently announced that it would shut down its self-branded stores in China, has shifted strategy a bit to focus on expanding in the country's inland cities. "Relative to other parts of the world, the China market is explosive," said Asia President Kal Patel. "We are looking at the center of China." Reuters (08 Mar.) - Wahaha CEO Zong's frugality is key to success
Zong Qinghou, chief executive at Wahaha Group, has become the richest person in China, partially because of his frugal nature. "One of the reasons he's been so successful is he keeps costs down, making sure every dollar spent goes toward making more money," said Shaun Rein, managing director of China Market Research Group. "He doesn't show off his wealth. He toes the party line." Zong is planning to spend, however, with the goal of launching 100 department stores. Bloomberg (09 Mar.) | E-commerce Spotlight | | | | - China's growing middle class heads online to shop
Consumers in China spent $82 billion on online purchases last year, a 95% increase over 2009. While online sales represent just 10% of total retail sales in China, consumers in major markets are increasingly using brick-and-mortar malls as showrooms for the goods they'll buy later online. Additionally, as housing costs in big cities rise, more younger consumers are moving to more rural areas where online shopping is often the only option. BBC (07 Mar.) | Spotlight on Luxury Goods | | | | - LVMH continues to pursue Hermes
Louis Vuitton Moet Hennessy recently announced its takeover of Bulgari, but the company's boss, Bernard Arnault, is already refocusing on Hermes. LVMH CEO Arnault said the Bulgari takeover could bolster his chances with Hermes. "I hope that this partnership [with Bulgari] will demonstrate that some families are able to understand the meaning of a merger with LVMH," Arnault said. The Guardian (London) (08 Mar.) - Dolce & Gabbana to swallow up secondary brand
Dolce & Gabbana reportedly plans to eliminate the D&G label next year and expand its signature brand to include the lower-priced looks that sold previously under the secondary label. Both lines are designed and owned by Domenico Dolce and Stefano Gabbana, and their similar names have created confusion in consumers' mind between the signature brand's upscale high fashion and the less-pricey D&G line, which was created in 1993 to compete with fast-fashion brands such as Zara and H&M. The Wall Street Journal (07 Mar.) | NRF News | | | | - NRF: The 2010 year in review
Now available for viewing, NRF has released a digital (and interactive) copy of its 2010 Annual Report. A look inside the 2010 edition showcases NRF's new strategic plan, including a renewed focus on advocacy, communications and education. The report also delves into NRF's work within varied retail communities such as e-commerce, marketing, loss prevention, information technology, sustainability, supply chain and more. View the Annual Report.
| SmartQuote | | | |  | The purpose of life on earth is that the soul should grow -- so grow! By doing what is right."
--Zelda Fitzgerald,
American novelist  |
| | This SmartBrief was created for cpgbrokers.data@blogger.com
|
No comments:
Post a Comment
Please comment thoughtfully CPG Brokers, your best resource to optimize your in store self exposure and maximize sku distribution.