Inside Retail Asia latest news on share market and business strategies within the retail industry.
Latest Business News - Inside Retail Asia
Japanese retail sales have recorded a distinct uptick as consumers enter panic-buying mode in response to the coronavirus outbreak, according to Nikkei Asian Review.
February saw a catastrophic collapse in Hong Kong retail sales, which slumped a massive 44 per cent year on year, the greatest fall in the city’s history.
Hong Kong-listed apparel retailer Esprit has placed six German subsidiary companies in administration to give them protection during the coronavirus crisis which has decimated sales.
Clothing supply chains are “unravelling fast” as the coronavirus crisis impacts both retailers and manufacturers worldwide, according to GlobalData.
Japanese ramen chain Aori Ramen has declared bankruptcy after suffering from coronavirus and the boycott on Japanese goods in South Korea.
Many South Koreans are becoming depressed as they suffer from the ‘corona blues,’ a phenomenon caused by a lack of outdoor activities due to the coronavirus.
Mintel says mass self-quarantine, caused by the coronavirus outbreak, will leave an indelible shift in how Chinese consumers behave going forward.
Cath Kidston has hired external advisers to complete an urgent review of strategic options for the business as it makes a last-minute appeal for a white knight rescuer.
Digital payments in India have risen by 10 per cent over the last month, despite a 30-per-cent decline in online travel spending.
Yum! Brands has bought California-based The Habit Burger Grill, adding its first fast-casual burger chain to its portfolio which already includes KFC, Pizza Hut and Taco Bell
The Hong Kong government will allocate US$271 million in aid for around 70,000 retailers affected by the coronavirus outbreak.
Fast-fashion retailer Esprit says foot traffic into its stores worldwide have evaporated in the wake of the coronavirus pandemic and warns shareholders that will cause a “considerable loss”.