綠色BN
2016-11-15

Retail News Roundup – Nov 15

The top 5 retail news clips in Asia this week.
Newspaper
1 – Alibaba rakes up record US$17.6 billion on Singles Day sales
Beijing: Alibaba Group, the e-commerce giant behind the 24-hour Singles’ Day shopping blitz, has raked up a record USD 17.6 billion in the Singles Day online sales, creating a new record in global retail sales for any single day. >>

2 – China’s M-commerce explosion drives 32 percent Singles’ Day sales growth
A KPMG study released on Singles’ Day also found that mobile sales are becoming increasingly dominant in China’s e-commerce market, as the firm’s third annual “Connected Consumers” found that 90.4 percent of 2,560 Chinese survey respondents had made a purchase over a smartphone in the past year. >>

3 – H&M to make Vietnam retail debut in 2017
Swedish fashion giant Hennes & Mauritz (H&M) is to make its retail debut in Vietnam with the opening of its first stores in the country next year. H&M will follow brands such as Zara, Mango and Gap om making its move on the Vietnamese market. In a statement, the retailer said it has signed for first store opening in the country during 2017. >>

4 – Marks & Spencer to shutter UK and China stores, not Singapore
Britain’s Marks & Spencer (M&S) said this week it will close around 60 stores in the UK, and will shutter more than 50 international stores, on the back of lacklustre sales growth in its apparel and home wares units across the globe. >>

5 – SM Prime Holdings eyes China expansion
Philippines property developer SM Prime Holdings is looking to acquire shopping malls in China as well as buying more land for expansion. But it is interested only in the Fujian province. >>


  By April Wu 
  China Market Strategy

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