| Global retail industry news |  |
- Prime retail-property rents increase in fashion hubs
Retailers in London, Hong Kong, New York and other major fashion capitals are optimistic that consumers will continue spending as retail-property rents increase. "It is easy to assume that falling consumer confidence and financial-market turmoil across the globe are striking all retail stores, but the CBRE survey together with sale figures from retailers is showing that we have a barbell market," said Ray Torto, chief global economist at property consultant CBRE. "Our analysis indicates that the upper end is holding up well, and the same is true for lower-end, nondiscretionary retailers." The Guardian (London)/Reuters
(19 Nov.)
     
| Retail in Europe |  | |
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- Habitat seeks agency to handle digital advertising
Habitat, an international retailer based in the UK, is searching for an agency to handle its digital-advertising needs. The account includes online advertising along with strategy and technical development of the retailer's Web sites. Habitat is striving to improve its online purchasing system and enhance the digital experience for its customers. Brand Republic (U.K.)
(20 Nov.)
- Developers' issues hinder Real Hypermarket's expansion
Real Hypermarket might be forced to postpone opening a couple of stores in Romania because the real estate developers the retailer is working with are unable to secure loans. "Real is not affected directly by the financial crisis or by the current economic situation in Romania. An indirect effect, however, is the postponement of the opening of two stores because some of the developers could not secure loans from banks to carry out their projects," said Tjeerd Jegen, general manager of Real Hypermarket Romania."However, they may get them in 2009. Our expansion plans have not changed, they were merely postponed." Ziarul Financiar (Romania)
(20 Nov.)
| Retail in Asia | | |
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- India's retailers get creative to entice consumers
Retailers in India are trying a variety of measures, including discounts, bumper sales, marketing blitzes and value retailing, in order to challenge the notion of postponing purchases. "You will find that most of the retailers in these categories ... are all pitching at the moment for discount to capture the lower sentiments due to inflation. Actually there is not much additional discounting; just the advertising pitch is new," said Purendu Kumar of Technopak. The Economic Times (India)
(20 Nov.)
- Louis Vuitton opens flagship store in Liaoning, China
Louis Vuitton, which has flagship locations in Beijing and Shanghai, has opened its third flagship store in China. The French luxury brand's new two-story store in the Dalian Times Square in Liaoning province covers 1,104 square meters. The opening brings Louis Vuitton's number of properties on the Chinese mainland to 27. ChinaRetailNews.com
(20 Nov.)
| E-commerce Spotlight | | |
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- Virtual mall strives to become consumer destination
Pollock New Media has developed Mallplace.com, a virtual mall that features online and high street stores. The company established affiliate relationships with retailers to share the profits when consumers buy items after clicking through from the mall onto the retailers' online sites. Ken Lemond, founder of Pollock New Media, said the company plans to promote the site by using viral marketing and blogs. Retail Week (U.K.)
(19 Nov.)
| Spotlight on Consumer Electronics | | |
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- Environmental concerns play bigger role in consumer electronics
The field of consumer electronics is becoming increasingly eco-friendly. Philips, like many other large corporations, has been criticised over waste disposal, energy conservation and other environmental issues. The consumer-electronics giant has since started emphasising the idea of environmentally conscious consumers as well as responsible companies. Star Publications (Malaysia)
(20 Nov.)
| NRF News | | |
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- Gift-card spending drops as budget-focused holiday shoppers look for bargains
Shoppers' price-conscious mentality is taking a toll on the season's most requested present: gift cards. NRF's sixth annual Gift Card Survey, conducted by BIGresearch, found that gift-card sales in the US will fall nearly 6% this holiday season to $24.9 billion, down from $26.3 billion last year. Fewer people plan to buy gift cards this year (53.5% vs. 56.6% last year), and gift-card shoppers will be spending less overall on the cards ($147.33 vs. $156.24 in 2007). Read more here.
| SmartQuote | | |
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 | Fortune befriends the bold."
--John Dryden,
English poet, literary critic and playwright
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