| Global retail industry news |  |
| Global Industry Watch |  |  |
|
- Luxury retailers say they're prepared for next economic storm
Executives at luxury retailers say they are prepared for the next economic downturn after learning some lessons from the last slowdown. "Luxury brands have done a great job of learning from the last crises," said Jean-Christophe Babin, chief executive officer at Tag Heuer. Many luxury brands are benefiting from efforts to enter China and other emerging markets ahead of significant demand, according to Ira Kalish, global director of research at Deloitte. Gulf Times (Qatar)/Reuters
(02 Oct.)     
- Australian retailers and banks deal with Eftpos change
In Australia, customers' banks have traditionally paid retailers' banks when a consumer used a savings or cheque account to make a purchase. That's changing, however, as retailers' banks will have to start paying customers' banks for transactions of $15 or more. The consumer group Choice is encouraging retailers to avoid passing on the cost to their customers. The Sydney Morning Herald (Australia)
(30 Sep.)
- Dubai officials outline consumer rights
The Department of Economic Development has issued the new Blue Book, which governs relationships between between retailers and customers. Large retailers say that they are already complying with the rules but that the regulations will hit smaller retailers that are not complying. Gulf News (United Arab Emirates)
(03 Oct.)
| Retail in Europe | | |
|
- Funds see New Look as possible target
New Look is preparing to announce that it has suffered another decline in trading, prompting interest from so-called "vulture funds," which buy up distressed debt. Although New Look has taken a number of steps to shore up its financial system, it continues to struggle due to tough trading conditions in the UK. The Telegraph (London)
(02 Oct.)
| Retail in Asia | | |
|
- RIM aims to extend lead over Apple in India
RIM is planning to expand distribution in India to 80 cities as part of its push to increase its lead over Apple, according to Krishnadeep Baruah, director of marketing for RIM in India. Apple sells its products through licensed resellers in India, which tends to make them less accessible. Bloomberg
(02 Oct.)
- Gome plans to conduct more research on property venture
Gome Electrical Appliances has put its plan for a property venture with its jailed founder on hold. The announcement sparked a sell-off in the Chinese retailer's shares. "The company will re-evaluate various factors relating to the proposal and continue to study how to obtain attractive retail, storage and logistics properties in the second- and third-tier cities," according to a statement from Gome. Bloomberg
(03 Oct.)
- India considers opening FDI in single-brand retail more
India currently allows 51% foreign direct investment in single-brand retail and is now considering allowing 100% FDI. "We have discussed the proposal internally and it was even put up before a joint government-industry task force," a government official said. The move comes as officials in India struggle to reach an agreement over FDI in multi-brand retail. The Economic Times (India)
(03 Oct.)
| E-commerce Spotlight | | |
|
| Spotlight on Mass Merchandise | | |
|
| NRF News | | |
|
- 3 ways to convert browsers into confident buyers
Potential online customers have found you through search. Now what? Attracting customers and converting them into confident buyers are two sides of the same coin. In a recent addition to the Shop.org white paper library, McAfee's Sam Rastogi shares three must-haves for converting those browsers into confident buyers -- trustmarks, clarity and user-generated content. Learn more.
| SmartQuote | | |
|
 | The man who trims himself to suit everybody will soon whittle himself away."
--Charles Schwab,
American businessman
|
| |
|
