| Global retail industry news |  |
- Wal-Mart tries "compact hypermarket" format in China
Wal-Mart originally developed the "compact hypermarket" format for its Latin American markets, but the largest retailer in the world now is launching the format in China to reach the country's lower-income and rural consumers. Doug McMillon, CEO of international business at Wal-Mart, said the company has opened the first of what is expected to be a series of new stores in China. Financial Times (tiered subscription model) (01 Dec.) , DailyFinance.com (02 Dec.) , Google/Agence France-Presse (02 Dec.)        | Cutting CPA Costs — but not corners
By Jon Bell, September 28, 2010
Tougher reporting requirements that banks and boards are requiring after the recession have mid-size companies leaning on outside accounting firms more than ever. Here's how to get the help you need and keep costs down. |
 - Severe weather results in shortage of goods at UK stores
British retailers are facing shortages of electrical goods, furniture, clothing and toys in the run-up to Christmas as severe winter weather closes sea ports. The snow also has kept shoppers away from the shops, with both JJB Sports and John Lewis noticing a slowdown in sales. Retailers already have most of their seasonal products on display and for sale, but the closure of the ports could delay replenishment. Telegraph (London) (03 Dec.)  | Work where the work is, not where the phone is. SynJ™ from AT&T is The Small Business Phone System. See how cordless handsets, extended-range and intuitive navigation make SynJ the productivity booster your business needs. View the SynJ demo now. |
 - Media Markt is likely to face hurdles as it expands in China
If Best Buy's entrance into China is any indication, Metro Group's Media Markt, which recently opened its first outlet in the country, will face significant challenges as it strives to expand. Media Markt plans to open 100 stores in China over the next several years. The company has, however, made an effort to differentiate itself from Best Buy as well as domestic rivals Suning and Gome. Retail Week (U.K.) (03 Dec.)  | This report provides a review and assessment of the strategic innovation options that CPG companies should examine. It also covers the need to develop a coherent innovation strategy across categories and platforms and for alignment with overall corporate strategy: Click here to find out more. |
 - Writedowns prompt Brazil to look into Carrefour auditors
The Federal Accounting Council in Brazil is looking into accountants at Deloitte & Touche, auditors for Carrefour, after the retailer reported writedowns that were significantly higher than expected. "It's necessary to investigate the responsibilities. The council will investigate whether there was a fraud," said Juarez Domingues Carneiro, the president of the council. Bloomberg (02 Dec.)  | Leadership lessons from USA Basketball
Discover the tactics that Jerry Colangelo employed to pull USA Basketball out of its Olympic losing streak. Learn how Colangelo and Coach K built a team that could compete in an international arena — and how to adapt your leadership style to gain the same type of success. Check out Sustaining the Leadership Edge. |
 | E-commerce Spotlight |  | | | - Online fashion retailing moves forward
ASOS recently rolled out its new Marketplace site, while Google has launched its Boutiques.com platform. The moves indicate that online fashion retailing is moving forward in overtaking the high street and giving consumers easy access to brands. Google has vowed to launch a UK version of Boutiques.com, which acts as a fashion hub that points consumers to their favourite brands. MarketingWeek.co.uk (U.K) (free content) (02 Dec.) - Luxury-goods companies search for Chinese consumers online
Emporio Armani has led the way in tapping into a broader cross-section of Chinese consumers by opening online sales via its own website. China has emerged as one of the fastest-growing markets in the world for luxury goods as well as one of the biggest markets of Internet users. "This is a strategic move that will open up luxury to the entire nation," said Federico Marchetti, founder and CEO of Yoox, which developed the retail website for the Giorgio Armani label. The Wall Street Journal (02 Dec.) | Spotlight on Fashion | | | | - Parisians embrace Japan's Uniqlo
Executives at Japan's Fast Retailing, which owns the Uniqlo brand, knew that having a presence in Paris was a priority, but they also knew that it would be a challenge to find an ideal spot that wasn't too expensive. After an extensive search, they settled on a flagship store near the Place de l'Opera. Parisians have flocked to the site, prompting the company to consider opening more outlets in Paris. Financial Times (tiered subscription model) (02 Dec.) | NRF News | | | | - How mobile is making an impact this holiday season
Given its relative newness, how much of a difference is mobile actually making this holiday season? In a recent blog post, Shop.org's Head of Research Fiona Swerdlow shares survey data that point to increased investment in mobile by retailers -- a smart move as larger numbers of shoppers use mobile devices to shop this season. Read more.
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