Singapore

Top-tier shopping centres of the future must offer more than diamonds and designer fashions to attract the region’s sophisticated demographic of luxury shoppers; they need to wow their target market with futuristic technology and bespoke experiences. Adam Cook, who leads Retail Project and Development Services for real estate firm JLL, shares more.

NTUC FairPrice has introduced Click&Collect, an extension of FairPrice’s online store, to provide greater convenience to customers.

The convergence of physical and virtual environments allows customers to do more with less, resulting in the new 4Ps in retail customer behaviours:

For years now, the world has witnessed the breathtaking growth of e-commerce – particularly its B2C segment. Globally, B2C sales broke the US$1 trillion mark in 2012 and have not stopped expanding at an awesome pace since. Analysts believe that B2C e-commerce would grow by a massive 20% this year to hit US$1.5 trillion worldwide. The Asia-Pacific region has been the powerhouse of this phenomenal growth. Last year, the year-end holiday shopping season saw numerous record highs in B2C sales. This year’s holiday season would see online shopping continuing to ace retail sales across the region – clearly spelling serious implications for Asian retailers...

Thomson Reuters/INSEAD Survey finds steep decline in business sentiment among Asia’s companies concerned with the uncertain global economy and rising costs. 

A new class of malls transforms shopping in Asia

Zebra Technologies Corporation has announced the ZT400 series printers. The mid-range printers are created in response to changing end-user needs, as more enterprises shift towards adopting a distributed printing model with business operations located around the globe.

Singapore is among the top 20 cities in the world where international retailers have the largest presence and is the most targeted market in Asia for European retailers.  And it continues to be one of the preferred first ports-of-call for retailers new to Asia.

Wincor Nixdorf has unveiled TP.net 5.5 which enables retail businesses to easily and cost-effectively implement omnichannel and mobile strategies to drive sales and operation efficiency and enhance the customer experience. Sharon Tian reports.

Taubman Asia, a subsidiary of US mall operator Taubman Centers, has committed US$600 million to build new shopping malls in Asia, with 40% of the investment budget earmarked for China projects.

Global shopping centre development continues apace with 39 million sq m under construction, slightly ahead of the pipeline of new space (36 million sq m) in 2013, says global property advisor CBRE.

For all the talk about digital retailing, physical stores continue to be consumers’ preferred shopping channel and a place where the most significant consumer and retailer value is created.

Change permeates all industries. It ushers the entry of new players as well as the exit of others. Retailers’ years of establishment, expertise and leading position do not guarantee success anymore. Instead, retailers who actively seek and act on change are the new winners in a business environment where the fast and reliable replace the slow and steady.

Stores seeking new ways to engage customers and build relationships have taken to innovative ways to engage the senses and even adopted the role of curating experiences. Richard Seah finds out more. 

It was expected to fail miserably but Apple Stores have grown to become one of the world’s most successful retail concepts, making more money in sales per square foot – US$4,551 according to eMarketer – than any other US-based retailer.