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‘Bittersweet’ day for Westfield founder as Westfield sold

Westfield chairman reflects on one of the largest corporate deals in Australia’s history.

‘Bittersweet’ day for Westfield founder as Westfield sold

Westfield chairman reflects on one of the largest corporate deals in Australia’s history.

Tracing the past for retail’s tomorrow

New research examines the key milestones in the evolution of customer experience to chart the store of tomorrow.

Pressure grows on International Housewares

Pressure on profits, but record sales for Hong Kong-based International Housewares.

Singapore rents dip, says DTZ Research

First-storey rents throughout SIngapore have fallen by 1.2 per cent to about $30.50 a square foot in the past quarter.

Empty shops ahead, says DTZ Hong Kong

Higher vacancy rates in prime retail sites in Hong Kong are expected after the Chinese New Year holidays, reports property consultancy DTZ.

Can retail rescue a dying city?

Detroit is at once the American Dream and the American Nightmare. Built on automotive manufacturing and turbo charged by the construction of freeways in the 50s and 60s, the Motor City hit potholes in the 2000s with the Great Recession, a corrupt local government, and a population decline of 25 per cent in the first decade of the 21st century. ‘The D’ declared bankruptcy in 2013, and as proof of the city’s troubles, what Anthony Bourdain on CNN referred to as “ruin porn” abounds …

Retail Training: the difference between ‘average’ and ‘excellent’

If a retail business is to achieve full potential the manager and staff must have excellent knowledge and skills – and more importantly apply them effectively in the business. This attitude delivers service excellence (reputation), increased satisfaction, (loyalty) and better results, (profit), yet there are always skeptics of the value of and approach to training and developing retail skills. A lack of belief in the value of and need for training, an inability to justify the cost, the los…

Brands battle for India mall space

The competition for prime retail space in India is getting tighter. According to CBRE South Asia, India has more than 300 shopping malls, but only around 24 have been identified as “successful”, including DLF Emporio, High Street Phoenix, DLF Promenade, Select Citywalk, to name a few. Select Citywalk, for example, is currently 98 per cent occupied. Its tenants include Mango, Zara, Aldo, Sephora and Tommy Hilfiger. And it is currently in talks with foreign brands like H&M, slated to ope…

Thai online retail sales to stagnate

Online sales in Thailand will continue account just one per cent of the total retail sales through 2018. According to research firm Euromonitor International, online retailers in Thailand will experience stagnating sales over the next four years due to stiff competition from traditional retailers who are fast expanding across the country. Many Thais prefer to touch products before buying them, a factor against online sales. Lack of confidence in online payment security and delivery service…

China retail sales rise

Retail sales in China rose 11.9 per cent year on year in August. Data from the National Bureau of Statistics showed retailers in China achieved 2.11 trillion yuan ($343.3 billion) in sales last month. Online retail sales soared 54.9 per cent year on year to 250.6 billion yuan. Sales of consumer goods were up 12.3 per cent to 1.88 trillion yuan while the catering sector registered sales of 230 billion yuan, an increase of 8.4 per cent. Sales in rural areas increased 12.8 per cent and …

Vietnamese spending power rises

Vietnamese purchasing power has grown slightly during the first eight months of the year. Vietnam’s General Statistics Office pinned the growth on the 11.4 per cent to VND1,900 trillion (US$90.5 billion) increase of goods and services sales from January to August. The retail sales of goods totalled VND1,400 trillion ($68.14 billion), 10.7 per cent higher than last year. Sales at hotels and restaurants rose 11.8 per cent while sales from other services increased 15 per cent.