Walmart Canada's low-price strategy wins big | Strong post-Brexit watch sales at Harrods normalise | Japan's vintage gaming market surges
18 August 2017
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Walmart Canada's low-price strategy wins big
Walmart Canada's plan to decrease prices to attract consumers resulted in a 1.4% rise in second-quarter customer traffic. "We further improved our price position against competitors, which contributed to market share gains in key traffic driving categories such as food and consumables," CFO Brett Biggs said.
Financial Post (Canada) (17 Aug.) 
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Retail in Europe
Strong post-Brexit watch sales at Harrods normalise
Strong post-Brexit watch sales at Harrods normalise
(Daniel Leal-Olivas/AFP/Getty Images)
Post-Brexit exchange rates increased sales of watches at Harrods' Fine Watch Room in 2016, but this year the retailer has seen a decrease in the volume of watch shoppers, said Helen David, chief merchant at Harrods. However, there has been a notable rise in high-values sales.
WatchPro (UK) (17 Aug.) 
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Retail in Asia
Japan's vintage gaming market surges
Sales are booming in Japan's retro gaming market, drawing buyers to online and brick-and-mortar stores for vintage games and consoles, a niche market in the $109 billion gaming industry. The re-release of the company's first Nintendo Entertainment System/Famicom console in 2016 sold out fast.
Bloomberg (16 Aug.) 
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IKEA to open more stores in China
IKEA to open more stores in China
(Saul Loeb/AFP/Getty Images)
IKEA will open three new stores in China this fiscal year, Angela Zhu of IKEA Retail China announced Thursday. The Swedish retailer, which debuted in China in 1998 and has grown to 24 stores, plans to grow its distribution networks and increase its e-commerce presence.
China Daily (Beijing) (18 Aug.) 
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E-commerce Spotlight
Indian consumers prefer Amazon over Flipkart
Amazon India has surpassed competitor Flipkart in regards to customer preference for online shopping, according to a Forrester Research survey. Amazon's Prime service was a favourite among shoppers, with 80% of them choosing Amazon as a go-to shopping site compared to less than 65% for Flipkart.
The Times of India (17 Aug.) 
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Spotlight on Fashion
Vivienne Tam sells brand's China rights
Hong Kong-born designer Vivienne Tam is expanding to China after fashion supplier Shenzhen Ellassay Fashion bought Chinese rights to the brand for $5.5 million. Shenzhen Ellassay aims to open several stores across the country and establish itself as an upscale fashion brand group.
South China Morning Post (Hong Kong) (18 Aug.),  Forbes (09 Aug.) 
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Burberry chief executive to evaluate all stores, cut costs
Burberry CEO Marco Gobbetti is reportedly planning to visit and judge each of its 498 stores worldwide as part of a cost-cutting venture, and he has already started his assessment with the company's 74 stores in the US, according to a financial publication. Gobbetti, who has been in the position for just over a month, plans to trim £100 million from costs in two years, despite second-quarter sales growth.
RetailGazette.co.uk (U.K.) (15 Aug.) 
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NRF News
5 things that will surprise you this holiday season
NRF’s research team has reviewed the game tape from the 2016 US holiday season, surveying over 2,000 consumers to understand how they plan and shop for the holidays and what retailers can learn from the findings. From the new data comes the 2017 Holiday Planning Playbook, a guide that retailers can use as a tool to prepare for the most important few months of the year. Read more.
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