To follow is a brief review of retail news from around the world:
October 1 – D Mart, India
The Business Standard (Mumbai) reports that India supermarket operator, D Mart “is looking to add over 60 per cent more space in the next three years. The chain, the third largest retailer after Future Group and Reliance Retail, has 3.4 million square feet of retail space now and is looking to add 2.1million sq. ft. by FY20.” More is available from The Business Standard.
October 3 – Tesco, UK
Reuters says today that Tesco, Britain’s largest retailer, “reported strong first half results and set higher profitability targets that showed confidence that it could maintain the momentum. Hopes are rising among investors that Britain’s established supermarkets can succeed in fighting back against German discounters Aldi and Lidl, who have rapidly built up market share in recent years.” More information is available from Reuters.
October 4 –Indonesian Online Business
Bloomberg says that Indonesia has consulted Jack Ma of Alibaba for advice on how to grow its online retail business. Calling it the world’s number 6 emerging market, Bloomberg adds that “Indonesia has an e-commerce market that McKinsey & Co. says can be one of the fastest-growing in the world, part of a digital economy adding $150 billion a year to gross domestic product by 2025.” More information and video are available on Bloomberg.
October 10 – Chinese Economic Growth
The Wall Street Journal reported today that Chinese consumers may be under debt stress and that may be depressing China’s economic growth. “A rough measure of consumer indebtedness, household borrowing as a percentage of household bank deposits is now above 50%, double what it was in 2009.” Additional analysis is available from The Wall Street Journal.
October 12 – Sainsbury & Argos, UK
Bloomberg reports that “Sainsbury will open Argos branches or collection points inside almost all of its stores.” Sainsbury operates 601 supermarkets and 782 convenience stores to complement the 739 Argos current outlets. More information is available from Bloomberg.
October 12 – Tesco, UK
The BBC reports that Tesco has removed several key consumer brands as Unilever attempted a price increase due to weakness of the Pound. For additional details, see the BBC website.
October 14 – Petsy, Mexico
Petsy, a Mexican on-line portal featuring products and services for pets, plans to launch its first brick-and-mortar store in Mexico in early 2017, the company reported. Petsy plans to open three stores next year, positioning the locations at street level rather than inside shopping centers in order to engage more directly with local communities according to an article in Reforma.
October 14 – Cross-Border Online Shopping
The Economic Times (India) reports today on a survey conducted by Pitney Bowes on cross-border online shopping which found that “more than two-thirds (66%) of consumers that have ever made a domestic online purchase have also made an online purchase from another country in the past year. Singapore (89%), Australia (86%) and Hong Kong (85%) have the highest number of cross-border shoppers.” The rest of the report can be found here.
October 16 – Japan Retail News
Japan Today said today that Japan’s retailers are forecasting “a gloomy end to the year.” The country’s retailers reported quarterly earnings over the past 10 days with most reporting flat or weaker profits.” For details on specific retailers, visit Japan Today.
October 18 – Rue La La International Expansion
The Drum reports that online retailer Rue La La has partnered with Pitney Bowes to expand globally. “Rue La La, an e-commerce site best known as an online style destination connecting brands with shoppers, announced today it will expand its reach to 219 countries and territories, offering members outside the U.S. access to its latest recommendations in fashion and home decor.” For additional information, please visit The Drum.
October 21 – Mexico Retail Growth
In the remaining two months of 2016, 22 new shopping centers or major expansions of commercial space will be inaugurated, according to commercial real estate consultants CBRE Mexico. The projects will create a combined total of approximately 6.5 million square feet of new retail space in Mexico, according to an article in Reforma.
October 25 – Walmart, Mexico
Mexico’s leading retailer Walmart reported plans to invest approximately US$8.4 million to expand operations in the southeastern state of Tabasco. Plans include two new grocery and general merchandise stores under the Bodega Aurrerá and Mi Bodega Aurrerá formats, according to El Financiero.
October 27 – Mexico’s Black Friday
The rising cost of the U.S. dollar is creating challenges for retailers in advance of Mexico’s “Buen Fin” (Black Friday) shopping promotion to be held Nov. 18 – 21. A survey of Best Buy, Walmart and Liverpool department store reported in the El Financiero business newspaper estimated prices of popular appliances and personal electronics have risen by up to 20% over the past two months.
October 27 – British Retail Sales
Reuters reports that “British retail sales rebounded in October to grow at their fastest rate in over a year, after an end to unseasonably warm weather boosted demand for autumn clothing, an industry survey showed on Thursday.” For additional information please visit Reuters.
October 31 – British Home Stores, Qatar, Russia & Africa
Abu Dhabi-based The National reports that “British Home Stores, under its new Qatari ownership, has revealed a three-year plan to grow the brand across the region and in Russia and Africa.” For details please visit The National.
The International Business Council is a special interest group of IHA members, dedicated to helping its membership market and sell their products internationally by sharing information, providing networking opportunities and offering programs to assist, support, and educate. Membership is free to all regular, IHA members – visit the IBC website to learn more.
