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Weekly News Wrap: Luxury stocks rally from China reopening; Australian retailers take hit from hesitant consumers
And JD.com to shut down Indonesia, Thailand shopping sites.
Weekly News Wrap: Luxury stocks rally from China reopening; Australian retailers take hit from hesitant consumers
And JD.com to shut down Indonesia, Thailand shopping sites.
FairPrice Group names 1st chief sustainability officer
Chan Teng See is tasked to drive the group's efforts towards sustainability.
Hong Kong retail sales to climb by 13% in 2023: report
It is projected to amount to HK$395b (approximately US$50.3b).
Retailers need to address inflation woes amidst sustainability push
There is pressure from investors, regulators, and consumers that compels companies to pursue sustainability.
Daraz to reduce employees by 11%
The company has to refocus its business following the challenges in the past 12 months.
JCube mall to stop operations on 7 August
Its site will be converted into a 40-storey residential development.
H&M Singapore to close doors of ION Orchard store
This will take effect in March.
Luxury sales in China to rebound to 2021 levels this year
This comes after the luxury market contracted in 2022.
China’s luxury market sees more ‘Very Important Clients’ despite 2022 contraction
VIC sales were higher than the 40% global average, Bain & Company reported.
China’s luxury market contracts by 10% in 2022
This is the first time the market shrunk in the last five years.
Customised, interactive experience key to attracting customers
Brands should offer personal touchpoints to customers, amongst others.
What could make shoppers switch to another luxury brand
Chinese consumers give emphasis on whether the brand is aligned with their identity.
How Watsons plans to tap Middle East’s fast-growing consumer market
The beauty company opened 17 stores in the region in just two years.
Central Retail invests US$836m to drive sustainable growth
The company expects a US$8.065b (THB270b) revenue growth.
Luxury Business Group, WorldBridge partner to develop Cambodia’s retail sector
They will provide consulting services, amongst others.
Retail volumes in Australia dip by 0.2% in Q4
This breaks four consecutive months of growth.
SHEIN names new chair for Latin America office
Marcelo Claure will lead the company’s Latin American strategy and stakeholder affairs.
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1. foodpanda launches house brand ‘bright’ 2. ZALORA ramps up sustainability amidst rising demand for eco-products 3. Alternative payments dominate Hong Kong's e-commerce in 2023 4. AI-powered personalisation paints the future of retail 5. Malaysia's e-commerce market to grow by 12.8% in 2024Resource Center
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EY’s Olivier Gergele highlights how retailers can navigate and thrive in today’s complex landscape and evolving consumer preferences
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By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
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1. foodpanda launches house brand ‘bright’ 2. ZALORA ramps up sustainability amidst rising demand for eco-products 3. Alternative payments dominate Hong Kong's e-commerce in 2023 4. AI-powered personalisation paints the future of retail 5. Malaysia's e-commerce market to grow by 12.8% in 2024Awards
Jun
11