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07 March 2013
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Global retail industry news

  Global Industry Watch 
  Retail in Europe 
  • Dreams enters administration, saves 171 stores
    UK bed retailer Dreams has entered a pre-pack administration that will result in more than 90 store closures, but will preserve 171 shops and 1,675 jobs under the owner of competing furniture company ScS. Administrators from Ernst & Young will oversee the sale of Dreams to Sun European Partners. The Guardian (London) (06 Mar.) LinkedInFacebookTwitterEmail this Story
  Retail in Asia 
  • IKEA tweaks model to fit new markets
    Swedish home furnishings giant IKEA does its homework, visiting thousands of homes around its stores in each market to find out what consumers in the area want and need, CEO Mikael Ohlsson said. The chain will do the same as it expands in China and looks to break into India, and it will use the information gathered to tailor store sizes and layouts to local demand, he said. The Economic Times (India)/Reuters (07 Mar.) LinkedInFacebookTwitterEmail this Story
  • Makalot boosts sales, broadens its reach
    Taiwan-based apparel supplier Makalot reported a double-digit sales increase last month and says it expects to continue the upward trend this year as it increases its exposure in Taiwan, Europe and Japan. The company provides apparel for Wal-Mart, Target, department stores including J.C. Penney and Kohl's and fashion retailers such as H&M and Zara. The Taipei Times (Taiwan) (07 Mar.) LinkedInFacebookTwitterEmail this Story
  • Chinese travelers drive duty-free growth
    A group of 600 Chinese visitors broke duty-free sales records at Vancouver's airport in January, illustrating the growing opportunities for airport duty-free shops to boost sales by catering to the growing number of Chinese travelers, said Freda Cheung, CEO of Canada of World Duty Free Group. Chinese consumers made about 50 million overseas trips last year, according to the Tax Free World Association. Women's Wear Daily (subscription required) (06 Mar.) LinkedInFacebookTwitterEmail this Story
  Retail in Latin America 
  • Cencosud jumps ahead in South America
    Cencosud became Colombia's second-largest retailer recently when it paid $2.6 billion to acquire Carrefour's 72 big-box stores, 16 convenience stores and multiple gas stations in the region. Cencosud now owns about 1,045 stores in South America, more than Wal-Mart's 950. Casino Groupe operates 2,143 South American stores under several brands. The Wall Street Journal (07 Mar.) LinkedInFacebookTwitterEmail this Story
  E-commerce Spotlight 
  • Jumia secures $26 million to grow online retail in Africa
    African online retailer Jumia, which launched a year ago selling a wide variety of goods in Nigeria, Egypt and Morocco, has secured $26 million in new funding to expand into more African markets. The site lets customers pay on delivery rather than online, and while much of Africa is behind when it comes to Internet technology and mobile gadgets, a growing middle class brings the prospect of rising e-commerce. VentureBeat (06 Mar.) LinkedInFacebookTwitterEmail this Story
  Technology Solutions 
  • Report: China's shoppers are the most tech-savvy
    Some 90% of China's shoppers now do research online before buying, a higher rate than in most other countries, and a growing number are turning to social sites such as Sina Weibo and micro blogs to learn about products and services, according to Accenture. "In the digital world, there is a third element, the influencer, added to the two elements of shoppers and consumers that companies used to watch closely in a traditional model," said Fabio Vacirca, Accenture's global managing director. China Daily (Beijing) (06 Mar.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Consumer Electronics 
  • Tesco, Morrisons to sell Google Play gift cards
    Tesco and Morrisons are adding Google Play gift cards to all of their UK stores in the coming weeks, in denominations of £10, £25 and £50. The cards, which have been available in the US since last year, let users buy mobile applications, books, music and other digital media from the Google Play marketplace. CNET (06 Mar.) LinkedInFacebookTwitterEmail this Story
  NRF News 
  • Just one day left to save $400 on NRF's Global Supply Chain Summit
    NRF's Global Supply Chain Summit, 19 to 21 May in Dallas, provides a unique environment for senior-level retail supply chain executives and logistics partners to network and learn about industry challenges and solutions, with this year's focus on omnichannel retailing, corporate social responsibility and global trade management. To secure the advance registration rate and save $400, register by 8 March. Learn more or register. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Scientific progress makes moral progress a necessity; for if man's power is increased, the checks that restrain him from abusing it must be strengthened."
--Anne Louise Germaine de Staël,
Swiss author


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