| Global retail industry news |  |
| Global Industry Watch |  |  |
|
- Canadian watchdog warns card providers on deceptive practices
Some credit- and debit-card providers in Canada may not be adhering to rules enacted by the federal government three years ago to protect retailers from hidden fees, according to the Financial Consumer Agency of Canada. The agency issued a warning this week to remind payment services companies about rules prohibiting hidden fees and confusing contracts that can result in higher costs to consumers. CBC.ca (Canada)
(13 Feb.)     
- Retail growth in S. Africa slower as prices rise
Rising inflation and a 24.9% unemployment rate slowed retail sales growth in South Africa in December, according to Statistics South Africa. Sales rose 2.3% compared to the same month in 2011, following a 3.6% increase in November. Bloomberg
(13 Feb.)
| Retail in Europe | | |
|
- Britain's gas stations drive higher V-Day sales
UK petrol stations saw significant sales jumps on fresh flowers, sparkling wine and boxed chocolates in the days leading up to Valentine's Day last year, according to research from Palmer and Harvey. One in five men now buy gifts at forecourts, the survey says, with many citing convenience and time constraints as the main reasons. Forecourt Trader (U.K.)
(13 Feb.)
- UK visa rules may scare off Chinese tourists, groups say
Groups including the China-Britain Business Council say the UK's historically strict visa rules have created a public relations problem among prospective Chinese tourists, and the negative perceptions persist despite a recent relaxing of the rules. "Certainly I think there is a strong perception in the market place that there is a problem and perception is as important as reality in these markets," council CEO Stephen Phillips said. The Telegraph (London) (tiered subscription model)
(13 Feb.)
| Retail in Asia | | |
|
- Report: Growth in India's retail space slowed in 2012
Developers added 2.5 million square feet of new retail space in India last year, down from more than 15 million square feet in 2011, according to a new report from CBRE, as their focus shifted to filling existing properties. "[T]he good news is that retailers continued with their expansion plans. This positive sentiment is indicative of retailers taking a long-term view of the Indian economy despite the short-term struggle," said CBRE managing director Anshuman Magazine. The Economic Times (India)
(14 Feb.)
| E-commerce Spotlight | | |
|
| Spotlight on Consumer Electronics | | |
|
- Best Buy founder may change purchase plans
Best Buy founder Richard Schulze is reportedly considering scrapping his plan to assemble an investor group to acquire the entire company in favor having the group take a minority stake, which would likely be separate from the 20% interest he now owns. Schulze submitted his first proposal to buy the company in August, valuing it at about $8 billion, and has until the end of this month to assemble the financial backing he needs to finalize a deal. The Wall Street Journal
(13 Feb.)
| NRF News | | |
|
- Building an e-commerce business in China: A guide for Western retailers
China's Ministry of Commerce reported that web-based business-to-consumer sales in 2011 reached $124.22 billion, further reinforcing expectations that China will soon overtake the United States as the largest online shopping market. In a recent addition to the Shop.org white paper library, Hybris software examines the significant technical and cultural differences retailers must understand to meet the distinctive needs of Chinese consumers, and identifies best practices for evaluating e-commerce vendors and platforms. Download the white paper.
| SmartQuote | | |
|
 | Mistakes are part of the dues that one pays for a full life."
--Sophia Loren,
Italian actress
|
| |
|
