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   | Global retail industry news |  |
- Canadian retailers get ready for Target's arrival
Target won't open the first of its planned 135 stores in Canada until next year, but retailers there are already getting ready to face new competition. Home-improvement store Rona announced plans to downsize stores this week, and supermarket chain Loblaw expects to invest millions to improve store operations. The Toronto Star (23 Feb.)       | Are your ATMs at risk of "Skimming"? It's a costly crime that is sometimes hard to identify. Download this 6-page brief from 3VR to understand skimming and how to prevent it. |
 - Argos looks to change the way it uses stores
Home Retail Group's Argos chain will seek out new ways to use the brand's 750 retail stores, including letting other retailers use the space as collection points for online orders, said new managing director John Walden. The stores, in which shoppers pick products from a catalog and have them brought out from the back room or delivered, have seen sales decline amid new competition from rivals including Amazon and Tesco. Bloomberg Businessweek (23 Feb.)  | RadioShack has a global presence and a variety of innovative products and services. With reasonable investment levels and hundreds of potential markets, a RadioShack franchise represents an exciting opportunity for you to associate with a powerful retail brand. Click here to learn more. |
 | Retail in Asia |  |  | | - CEO details Dandang's plans to be China's answer to Amazon
Dangdang CEO Li Guoqing is an outspoken executive who doesn't hold back his emotions when talking about his efforts to fight off rivals and build the Chinese e-commerce equivalent of Amazon. The company leads in online book sales in China, but growing competition has the company diversifying, with plans to boost fashion offerings in 2012 and add a new product category each year. China Daily (Beijing) (23 Feb.)  | Consumer Insights Your Brand Needs to Know: Latest Trends in Behavioral Advertising
Learn what brand managers, advertisers, as well as networks, agencies, and publishers need to know about consumer survey insights into behavioral ad serving, also known as interest-based advertising. Learn more today! |
 | Technology Solutions | | | | - Boku to bring mobile payment options to any phone
Boku will launch near field communication technology this spring that will let UK consumers use any mobile phone with NFC to make payments at stores that use Mastercard's PayPass system. Orange and Barclaycard launched a similar system last year, but that one only works with the Samsung Tocco phone. The Guardian (London) (23 Feb.) | Spotlight on Fashion | | | | - Cheil creates fast-fashion brand
South Korea-based Cheil Industries opened its first two 8Seconds stores this week and plans to have 10 of the fast-fashion locations operating by the end of the year. The new concept will compete with international brands including Zara, Gap and H&M, with affordable fashions aimed at 20-to-30-year-olds. Women's Wear Daily (subscription required) (23 Feb.) - Esprit to add 40-50 China stores, cut costs
Clothing retailer Esprit's shares jumped Thursday after the company said it will cut about $129 million from costs this year by closing underperforming stores and opening sourcing offices in India and Indonesia. The chain is in the process of revamping its designs and plans to open between 40 and 50 new stores in China in 2012. Bloomberg Businessweek (23 Feb.) | NRF News | | | | - How to prepare for Store 3.0
Store 3.0 is already here, and retailers who are leveraging all channels and technologies are in a prime position to grab those essential sales from the highly-connected and savvy consumer. In a session at Retail's BIG Show, Deloitte's Alison Kenny Paul shares statistics about the changing retail landscape and how to alter your core brand elements to stay relevant in the coming years and beyond. Read more.
| SmartQuote | | | |  | People are ridiculous only when they try or seem to be that which they are not."
--Giacomo Leopardi,
Italian poet, essayist and philosopher  |
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