| Global retail industry news |  |
- Surge in tourism boosts Dubai's retail industry
Regional and international visitors accounted for a bit more than one-third of Dubai's Dh15.1 billion in retail and hospitality spending last year, with events such as the Dubai Shopping Festival proving a big draw, industry watchers say. "You need more tourism to create more jobs, more sales and that's what's happening in Dubai," said David Macadam, head of retail at Jones Lang Lasalle. Gulf News (United Arab Emirates) (23 Jan.)      - Banff nixes ban on chain stores
Officials in the Canadian tourist town of Banff said they won't enact an outright ban on chain stores and restaurants, but they're open to considering quotas. "If quotas mean finding a balance within the community, and we will be able to represent Banff with a unique mountain town, then I'm all for it," said Banff Tea Co. owner Susanne Gillies Smith, who faces competition when chain David's Tea opens there next month. Canada.com (21 Jan.)  | How to Get the Package You Need—Without Breaking the Bank
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 - 3 buyout groups may make Peacocks bid
Several groups are reportedly considering a bid for some or all of the Peacocks chain, which entered administration earlier this month. Private equity firms including KKR, Permira and Sun European, and others such as Edinburgh Woollen Mill, are on the list of potential buyers for the 563-store chain. The Telegraph (London) (22 Jan.) - 99p Stores may come with a £60 million price tag
The owners of UK discount retailer 99p Stores are reportedly considering offers of between £50 million and £60 million from several private equity firms for the chain, which operates nearly 150 stores. Owners originally sought a price tag of £80 million when they put the company up for sale last year; equity firm Warburg Pincus paid £200 million for rival Poundland in 2010. Google/The Press Association (U.K.) (22 Jan.)  | Avoid theft and fraud with Modern Video Security.
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 - Vietnam's call for frugal New Year falls on deaf ears
Consumers in Vietnam are expected to spend about 22% more to celebrate Tet, or Lunar New Year, this year than last, despite government calls for frugality amid rapidly rising inflation. Consumer prices in Vietnam rose more than 17% this month, the biggest increase in 17 Asia Pacific countries. Bloomberg Businessweek (22 Jan.)  | Principles of Checkweighing - Building an Effective Program
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 - Amazon plans first India fulfillment center
Online retailer Amazon reportedly plans to open its first India fulfillment center in the city of Mumbai, according to job listings on the company's overseas careers site. The US company opened 10 new centers at home last year, and also operates fulfillment centers in China, Germany, Japan and the UK. Chicago Tribune/Reuters (20 Jan.)  | Consumer Insights Your Brand Needs to Know: Latest Trends in Behavioral Advertising
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 | Spotlight on Mass Merchandise |  |  | | - IKEA puts India plans on hold
Swedish furniture giant IKEA won't open stores in India in the near future, despite new rules opening the country to foreign investment by single-brand retailers. The requirement that foreign chains source at least 30% of goods from local small and medium-sized businesses is the biggest obstacle to expansion, the company said. CNBC (22 Jan.) | NRF News | | | | - Clinton to retailers: "I could have been one of you"
Former President Bill Clinton, in fact, is among the millions of Americans who found their first jobs in retail. As he opened last Monday's Super Session at Retail's BIG Show, Clinton quipped "I could have been one of you," explaining that his first job was at age 13 working in an Arkansas grocery store. The teen-aged Clinton also launched his first business venture as a micro-retailer, convincing the grocer to let him sell comic books on the side -- feeling "like a millionaire" after grossing about $100 on a collection of vintage issues but realizing now that they could have sold for thousands. Read more. Retail's BIG Blog (20 Jan.)
| SmartQuote | | | |  | Think in the morning, act in the noon, eat in the evening, and sleep in the night."
--William Blake,
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