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Weekly News Wrap: Shanghai’s fashion stores struggle to clear stock; JD exec says China’s regulation getting more ‘rational’
Weekly News Wrap: Shanghai’s fashion stores struggle to clear stock; JD exec says China’s regulation getting more ‘rational’
And India’s Zomato set to buy grocery delivery startup Blinkit for $568m.
Shopee owner Sea Ltd is top retailer in Southeast Asia: Euromonitor
Its sales reached $16.06b in 2021.
South Korea’s retail sales up 10.1% YoY in May
Sales in department stores and convenience stores rose as social distancing is lifted.
Six in 10 Singaporeans to shop outside Amazon during Amazon Prime Day
Criterio described this as the “strong halo effect” of the event to other retailers.
Central Retail launches new payment option in CMG stores
Shoppers may opt to use BNPL across 22 brands.
Retail sales in Asia’s department stores to climb by 2% annually until 2026
This will follow a “remarkable” rebound of 23% in 2021.
Furniture brand Castlery opens new flagship store in SG
The new store will be launched in the third quarter of the year.
E-commerce retail sales expected to rise 14% yearly until 2026
In 2021, the sector posted a 24% sales growth.
Grocery sales to grow 4% in next 4 years: report
Retail sales in grocery grew 6% in 2021.
Asia retail sales to grow 7% annually to 2026
This will be driven by strong digitalisation, and consumer confidence, amongst others.
Thailand skincare market to exceed $3b in 2026: report
It is projected to see an average of of 3.8% growth annually.
Alibaba Group retains post as Asia’s top retailer in 2021
Its sales last year reached $478.9b.
Over half of brands want to improve experience in existing channels
The majority of customers also want to interact with brands in more than one channel.
Health and beauty to see 5% annual growth in 2021/26
The average household spent US$345 on health and beauty last year.
Around 2 in 5 brands use first-party data to deliver personalised customer experiences
Businesses said first-party data has higher quality and provides better privacy.
Jollibee rebounds to P6.3b after 2020 loss
Its 2021 operating income is nearly at the same level as 2019.
Around 3 in 5 consumers expect personalised shopping experience
However, only 40% trust brands to use their data responsibly and keep it safe.
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