Asia Retail Spending
Hong Kong retail sales to post stable growth
Hong Kong retail sales to post stable growth
This is due to the improved market condition and the return of international tourism.
Minor Food furthers expansion in Vietnam with Sizzler and The Coffee Club deals
The Group is currently operating over 100 outlets in the Vietnam market.
FMCG spending up 6.1% YoY in 2023
This is mainly driven by inflation.
Nike launches Orchard store, offers product personalisation
The three-level Nike Orchard Road covers 28,000 square feet of space.
Victoria's Secret adopts AI for enhanced shopping experience
One of the features includes the use of a chatbot.
Aeon switches 55% of domestic stores to renewable energy
The retailer has achieved 3,706 million kWh in renewable energy.
FamilyMart Malaysia’s store cafe secures halal certification
It plans to have 300 halal-certified FamiCafé by 2025.
SKS Capital invests in South Korea’s Grace
The $5m raised will be used for Grace’s business expansion.
FJ Benjamin opens new concept store in Singapore
A 40-seater cafe and bar are open for customers.
Hermès sales in Asia up 23% in Q1 2023
Sales were boosted by the Chinese New Year.
Thai restaurant tops Asia’s 50 Best Restaurant
A total of nine restaurants from Bangkok made it to the list.
Superdry sells IP assets to South Korea’s Cowell Fashion
The transaction costs $50m.
Around 1 in 4 Thai Gen Zs find spending on preventing skin issues a waste
They prefer to buy products that address current issues.
Around 1 in 2 Singaporeans intend to buy audio, video technology
Malaysia has the largest market share of content creators in the region.
Philippines’ San Miguel Foods net income up 21% YoY in 2022
Its revenue rose 16% YoY to around $3.2b.
Seven & i to close 14 Ito-Yokado stores
It aims to focus its core strategy on food.
Malaysian retailers urge government to withdraw luxury tax proposal
This could deter both foreign and local consumers from shopping in the country
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