| Global retail industry news |  |
| Global Industry Watch |  |  |
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| Retail in Europe | | |
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- UK developers bet £350 million on bricks and mortar
The £350 million Trinity Leeds shopping centre will be the only major UK retail mall to open this year. The 1-million-square-foot, glass-domed covered mall is already 90% leased to retailers including Primark, Next, M&S and Topshop, and will feature free Wi-Fi, pick-up spots for online orders and plenty of digital screens. "Retail is not just about shopping. It's about taking the best from online, the high street and events venues and bringing it into one place," said marketing manager Paul Smith. The Guardian (London)
(16 Feb.)     
| Retail in Asia | | |
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- Drive to end lavish spending dampens China sales growth
The week-long Lunar New Year celebration brought the slowest sales growth in four years at China's stores and restaurants, as many consumers cut back on lavish spending amid a government crackdown on waste and wealthier shoppers traveled abroad. Sales rose 14.7%, down from 16.2% in the same period last year, according to the Ministry of Commerce. Bloomberg
(17 Feb.)
- Korea's luxury imports soar to new record
Imports of luxury goods into South Korea totaled $8.61 billion in 2012, up 2.93% from the year before, according to the Korea Customs Office. "I'd say customers still favor expensive products although the country and the rest of the world are undergoing an economic slump," a customs officer said. The Korea Times (Seoul)
(17 Feb.)
| E-commerce Spotlight | | |
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- Saudi prince takes stake in Chinese e-commerce
Kingdom Holding, the investment firm owned by Saudi Prince Alwaleed bin Talal, has invested about $400 million in China-based Jingong Century Trading, the parent of 360buy.com. The site is the second largest online retailer in a country where online sales are forecast to reach $356 billion by 2016, according to Forrester Research. The Wall Street Journal
(17 Feb.)
| Spotlight on Mass Merchandise | | |
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- Chinese furniture makers find fans abroad
Chinese furniture brand China Camerich Furniture recently opened a new store in Cologne, Germany, its 43rd overseas store. The growing international success of Camerich and others including Landbond Furniture Group and Beijing Ilinio Furniture comes as the companies increasingly shift more toward original in-house designs. China Daily (Beijing)
(18 Feb.)
| NRF News | | |
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- Charting the path of retail technology with ARTS standards
From guiding retailers on their path to achieving seamless integration with point-of-sale and cloud systems, business process models, mobile and more over the past 20 years -- you could say the Association for Retail Technology Standards has led the retail industry through the IT learning curve. At Retail’s BIG Show last month, executives representing retailers and solution providers explained why ARTS standards are essential to their business and presented the ARTS roadmap for 2013 and beyond. Read more. Retail's BIG Blog
(14 Feb.)
| SmartQuote | | |
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 | You will become as small as your controlling desire; as great as your dominant aspiration."
--James Allen,
British author
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