Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

  • Aviation industry could see revival in second half of 2021

    Aviation industry could see revival in second half of 2021

    The aviation industry will recover in the second half of 2021 with the advent of coronavirus vaccines, SSI Securities Corporation has forecast.

    While it would be a difficult year since the coronavirus variant identified in the U.K. is spreading quickly and new outbreaks are emerging in many countries, “the future of the aviation industry could be brighter when large-scale Covid-19 vaccination is carried out,” SSI said. “This could only happen in the second half of 2021.”

    Airlines will mainly focus on the domestic market in 2021 since international travel would not resume until the end of 2021, and the international aviation market could recover in 2022.

    “In 2021, airlines strategies will include increasing the number of inbound commercial flights, providing better flight services and offering a range of fares so that passengers will have more options,” SSI analysts said.

    The baseline scenario is for airlines to suffer losses though they would be halved from 2020.

    The number of domestic passengers will rise to 75 million, the same as in 2019. The number of foreign visitors is expected to reach 12 million, or 34 percent of the pre-pandemic number.

    Besides the challenges posed by Covid-19, airlines also face rising fuel prices, while competition is increasing with Vietravel Airlines, Vietnam’s sixth carrier, set to enter the aviation market this month.

  • Hong Kong’s Green Common expands into Singapore

    Hong Kong’s Green Common expands into Singapore

    OmniFoods creator, Green Monday Group, has launched Southeast Asia’s first Green Common outlet at VivoCity, in Singapore.

    Spanning 3000sqft, the Green Common Singapore venue houses a dedicated area for retail and a wider cafe area with indoor capacity of 112 people, as well as outdoor seating for 36. Green Common cafe serves a curated menu of plant-based dishes helmed by Chef Louie Moong.

    The Singapore branch of the Hong Kong-based company also offers OmniEat’s ready-made vegan meal range, which features Asian dishes such as Truffle Gyoza, Siu Mai and Crystal Dumpling.

    Beside the OmniMeat range, the storehouses a selection of 50 products from international plant-based brands, including Beyond Meat, Daiya, Califia Farms, Bite Society, Moving Mountains, Vegan Robs, and Heura.

    “Over the years we have seen great interest from Singaporeans looking to have access to more plant-based alternatives,” said David Yeung, founder and CEO of Green Monday Group. “Our one-stop shop is designed to make it easy to go green and make thoughtful (and delicious) lifestyle choices.”

    The Green Common store is also the brand’s second international location after Shanghai. Launched in 2015, plant-based concept store Green Common now operates 11 outlets across Hong Kong, Singapore, and China.

  • BHG teams with Raffles City in new curated brands marketplace

    BHG teams with Raffles City in new curated brands marketplace

    BHG Singapore will take over two floors at Raffles City Shopping Centre formerly occupied by Robinsons, which closed its last outlet there last Saturday.

    In partnership with Raffles City Singapore, the department store will open a new concept store showcasing its best beauty, fashion, and home and living products.

    The store, called One Assembly, will open by the end of the month, BHG Singapore and Raffles City Singapore said in a joint statement yesterday.

    “As established players in the retail industry, BHG Singapore and Raffles City Singapore are dra-wing on their combined industry insights to explore fresh ways of collaboration and inject new life into the local retail scene,” said the statement.

    While the concept store is a short-term pop-up, it will remain open for the foreseeable future, BHG Singapore told The Straits Times.

    The department store is happy to explore a long-term partnership with CapitaLand, which manages Raffles City Shopping Centre, said BHG’s spokesman. The concept store is expected to go big on digital payments. Shoppers will have the choice of paying for their purchases using eCapitaVouchers, or payment platforms Hoolah and FavePay. In the future, the store intends to make some of its products available on eCapitaMall, CapitaLand’s online shopping website.

    “As part of our reinvention strategy, we aim to integrate both physical and digital shopping journeys to create a seamless shopping experience,” said BHG Singapore.

    Associate Professor Lawrence Loh of the National University of Singapore Business School agreed that the future of retail lies in the integration of online and offline shopping.

    “But on-site stores are still important because they let customers touch and feel the product,” he said.

    Department stores here have been shifting some of their business online amid the coronavirus pandemic.

    Last November, BHG Singapore told The Straits Times that it had launched its own shopping site a few months before in June. The retailer also participated in Singles’ Day and Black Friday sales last year.

    To enhance the shopping experience, the One Assembly store will feature two spa cabins for shoppers wishing to relax.

    “One Assembly will provide new experiences to shoppers. Combined with its prime location, we are confident that it will become a favoured destination for our shoppers,” BHG Singapore managing director Udai Kunzru said yesterday.

    Offering customers memorable experiences is one way the department store has remained relevant amid the changing retail landscape.

    It introduced five spa cabins at the beauty hall in its Bugis Junction outlet as part of an extensive revamp completed last October.

    “We are heartened that our reinvention efforts have been well-received,” said BHG Singapore.

    When it opens, the concept store at Raffles City will feature brands such as La Mer and La Prairie, which are not currently available at existing BHG stores.

    “Having a new brand close to their existing store at Bugis allows them to reach a different segment of consumers without alienating their existing ones,” said Ms Esther Ho, director of Nanyang Polytechnic’s School of Business Management.

    CapitaLand Singapore’s managing director of retail Chris Chong said the mall is delighted to partner with BHG Singapore.

    “By joining hands to present One Assembly, we set out to enhance Raffles City’s shopping experience with a plethora of offerings that are thoughtfully curated for this collaborative space,” said Mr Chong.

    Before Robinsons moved out of Raffles City, the outlet had occupied three floors.

    As for who will occupy the third-floor space left by Robinsons, a Raffles City spokesman said talks with various brands are ongoing and more details will be shared in due course.

    Robinsons announced on Oct 30 last year that it was closing its last two outlets here, and said then that the decision to liquidate was prompted by a range of factors, including changing consumer tastes and cost pressures such as rent.

  • Government to invest $345 million to bail out Vietnam Airlines

    Government to invest $345 million to bail out Vietnam Airlines

    The State Capital Investment Corporation said it is in discussions with Vietnam Airlines to invest VND8 trillion ($345.49 million) in the carrier through a rights issue.

    It follows a government resolution to resolve the difficulties faced by the airline due to the impact of the Covid-19 pandemic, Nguyen Chi Thanh, general director of the sovereign fund, said at a press conference late last week.

    The resolution requires the State Bank of Vietnam to reimburse loans of up to VND4 trillion to credit institutions that have lent to Vietnam Airlines and allow the carrier to make rights issues to existing shareholders to supplement its capital.

    Thanh said: “Vietnam Airlines will issue shares worth VND8 trillion to existing shareholders, accounting for 25 percent of the carrier’s charter capital. SCIC, acting on behalf of the Government, plans to buy these shares.”

    The government-owned 86.16 percent in Vietnam Airlines on December 31, 2019.

    Thanh said the airline is making plans for a rights issue, and SCIC’s task is to determine a reasonable issue price close to the market price and is working with Vietnam Airlines on this.

    “In order to do that, Vietnam Airlines must be valued, and this requires at least a five-year business plan if we use the discounted cash flow method.”

    The SCIC would appoint a “globally reputed auditing company,” and the latter would identify the most appropriate valuation method possibly within a month, he said.

    Vietnam Airlines expects losses of VND12 trillion for 2020 compared to a VND3.37 trillion profit in 2019.

    It presently flies an average of 300 flights a day on more than 60 domestic routes. It has resumed flights to Japan, though not from that country, and plans to resume flights soon to mainland China, Taiwan, Laos, and Cambodia.

    In November, the National Assembly approved a bailout that could see the carrier get VND12 trillion and allows it to sell more shares to existing shareholders to boost cash reserves.

  • Thai AirAsia to furlough 75% of workforce

    Thai AirAsia to furlough 75% of workforce

    Thai AirAsia will keep only one-fourth of the staff and ask the rest to take a leave-without-pay offer for four months, starting February, as the re-emerging coronavirus outbreak has dealt a heavy blow to the aviation sector.

    Tassapon Bijleveld, executive chairman of Asia Aviation Plc (AAV), the largest shareholder of the airline, said on Monday only 25% of its workforce will be active after this month as the airline is downsizing to match real demand.

    He did not mention the size of the workforce, but according to the latest AAV annual report, it had 5,974 employees in 2019.

    “Before the Covid-19 resurgence, we had 40 planes serving domestic flights. But since the re-emerging of the outbreak, some provincial lockdowns have made it impossible for people to travel and passenger demand has dropped significantly at every airport,” said Mr. Tassapon.

    The budget airline has 62 aircraft, which has not been fully utilized since the first nationwide lockdown in April last year. It flies only 10 planes now due to the sluggish demand for air travel.

    He said the company had no layoff plans for now but it was difficult to predict when the market would recover.

    He said the furlough from next month to May should allow the employees to find other revenue sources and resume work immediately if the situation improves.

    Mr Tassapon said there was little hope for financial support for airlines from the government. Thai AirAsia now is trying to secure loans from banks by itself, instead of waiting for state approval, he added.

    The furlough, the second in the past few months, was larger in scale than the first round late last year.

    “The international market should recover in the last quarter of this year, but only slowly. Half of the global population must be vaccinated before international travel can resume,” said Mr. Tassapon.

    As of September 2020, its staff-related expenses accounted for 18% of operating costs, the second-highest after jet fuel.

    During the first nine months of 2020, the low-cost airline carried 6.68 million passengers, a 60% dip compared to the same period in 2019.

    AAV stocks plunged six satangs, or 2.54%, to 2.30 baht on Monday.

  • AirAsia founder Tony Fernandes claims governments ’ Covid-19 coordination ‘horrific’

    AirAsia founder Tony Fernandes claims governments ’ Covid-19 coordination ‘horrific’

    “The coordination on Covid-19 is horrific,” AirAsia Group Bhd founder and group chief executive officer Tan Sri Tony Fernandes laments and claims in a direct swipe at world governments’ on how the global pandemic has been managed and its impact on the travel and aviation industries.

    BBC has today quoted Fernandes as saying that in his history of running an aviation business, he has never seen something so poorly coordinated.

    “It’s like nothing I’ve ever heard,” he said. “The United Nations, with the travel industry, should have come up with some standard protocols” earlier in the pandemic, but politics had got in the way, according to him.

    “Governments are petrified of their people, and they’re taking a very, very, very conservative view. They all want to be in control.

    “I just think that everyone’s… scared and just reacting in a very jingoistic and nationalistic way. I think countries are going to say, unless you’re vaccinated they’re not going to let you in without quarantine,” Fernandes said.

    The BBC report, which also quoted International Air Transport Association (IATA) director-general Alexandre de Juniac, said the world’s airlines need another US$70 billion (about RM283.5 billion) to US$80 billion of government support to get through the crisis caused by the coronavirus pandemic.

    de Juniac was quoted as saying the figures were “on top of the US$170 billion already granted”.

    It was reported that June 2021 is when he expects the first significant easing of travel restrictions, as the impact of vaccines begins to be felt.

    “Government travel restrictions and a huge fall in passenger confidence meant global demand for flights fell about 60% last year, according to IATA figures.

    “That means 2020 saw about 1.8 billion passengers fly, instead of the 4.5 billion in 2019. In an industry where profit margins were already thin it means airlines are estimated to have already lost US$118 billion, with worse set to come,” BBC reported.

  • Google Play Store now tells you which apps are trending higher or lower

    Google Play Store now tells you which apps are trending higher or lower

    It’s human nature to want to know which apps are trending up and which are trending down. And now this information is available on the Google Play Store via a new icon that shows whether an app is trending up or down. The icon shows an arrow moving up or moving down in the top app lists. An arrow pointing up tells you that a particular app is trending higher while an arrow pointing down tells you the opposite.

    Unfortunately, the icons don’t tell us how many slots an app has moved up or has moved down. Nor do we get to know how much time has elapsed while the app in question started trending in one direction or the other.

    To check out which apps are trending up or trending down, open the Google Play Store app. On the top row of tabs, tap on Top charts. From there you can navigate to different charts showing the top apps in certain categories. Looking at the Top free chart you can see that the top three apps are Signal Private Messenger, Telegram, and Zoom Cloud Meetings. MeWe is number four and underneath the number four on the chart, you can see an arrow pointing downward. That means that the app is trending lower.

    TikTok is number five and is trending higher. At number six is DuckDuck Go Privacy Browser with an arrow pointing down indicating that the app is trending lower. Trending higher is Disney+ (#7), Google Pay (#8), discovery+ (#9) and Cash App (#10). This list goes all the way to number 597.

    Most likely your decision whether or not to install an app is not going to come down to how it is trending. Still, those of you who are into such things can now easily get this information from the Google Play Store.

  • Leading jeweler invests in pawn shop chain

    Leading jeweler invests in pawn shop chain

    PNJ has decided to invest in pawnshop chain Golden Friend, with the stipulation it cannot exceed 30 percent of the latter’s charter capital.

    The Board of Directors of the Phu Nhuan Jewelry Joint Stock Company (PNJ) has entrusted PNJ CEO Le Tri Thong with deciding the value and timing of the investment.

    The Golden Friend Joint Stock Company was founded in 2017 with a charter capital of VND1 billion, which was raised after six months to VND10 billion.

    The company introduced itself as a strategic partner of PNJ. Golden Friend has 21 pawnshops, all of which are located inside PJN stores. It accepts expensive accessories made of gold, silver and diamond, and also luxury watches like Rolex, Hublot and Patek Philippe.

  • WhatsApp delays the implementation of its new terms and privacy policy

    WhatsApp delays the implementation of its new terms and privacy policy

    For the first time in many years, it looks like Facebook is taken into consideration users’ feedback. After informing its 2 billion users that WhatsApp is going to update its terms and privacy policy, forcing them to share data with Facebook and third-party associated companies, the social giant has taken a step back.

    Facebook is now giving WhatsApp users three extra months to decide whether or not they agree with the new terms and privacy policy, the company announced this week. Along with the new deadline, WhatsApp clarified some of the misinformation running around after its initial announcement.

    The update includes new options people will have to message a business on WhatsApp, and provides further transparency about how we collect and use data. While not everyone shops with a business on WhatsApp today, we think that more people will choose to do so in the future and it’s important people are aware of these services. This update does not expand our ability to share data with Facebook.

    Also, Facebook announced that it will do a lot more to clear up the misinformation around how privacy and security work on WhatsApp in the coming weeks. That being said, Facebook will no longer suspend or delete WhatsApp accounts that don’t agree with the new terms and privacy policy on February 8. Instead, Facebook will “go to people gradually to review the policy at their own pace before new business options are available on May 15.”

  • Vietjet eyes aircraft purchases as it relies on vaccine rollouts to revive air travel

    Vietjet eyes aircraft purchases as it relies on vaccine rollouts to revive air travel

    Budget carrier Vietjet Air plans to expand its investment in new aircraft and technical facilities this year after reporting a small profit in 2020 despite the Covid-19 pandemic.

    “In 2021, we expect to continue to receive new modern planes and will invest in maintenance and training facilities, and the investment will be higher than in 2020,” Vietjet CEO Nguyen Thi Phuong Thao said in an interview recorded on Jan. 9 and broadcast on Thursday at the Reuters Next conference.

    Vietjet said separately on Wednesday it raised $28 million via a bond issuance last month to fund its development plans in 2021. It did not provide further details about the bond sale.

    Vietnam has been successful in containing the coronavirus with a series of quarantine and tracking measures. With just over 1,500 infections and 35 deaths in total, it has resumed economic activities earlier than much of Asia.

    While all international commercial flights have been suspended since late March, domestic air travel has been subjected to few restrictions.

    Vietjet’s cargo transport in 2020 rose 75 percent from 2019, she said, adding that its overall domestic operations recorded positive growth in 2020, without giving comparative figures.

    With the early Covid-19 vaccine roll-out around the world, Thao expects the global aviation industry to recover rapidly.

    Vietjet’s Thai unit increased its aircraft fleet to 15 last year, while its market share there also increased, she added.

    “Air travel demand is extremely high for business, investment, education and healthcare purposes, and we have been actively conducting flights to repatriate Vietnamese people from overseas,” Thao said.

    She said the company is considering options to raise funds for its investment plans for this year, though she did not name an amount.

    “Our debt-to-equity ratio is 1.0, compared with over 3.0 for the aviation industry, so we have room to mobilize funds for our development,” Thao said.

    The airline continued to take delivery of Airbus SE narrow- body jets last year despite some supply chain interruptions at the manufacturer but Boeing Co did not meet its delivery schedule, she said.

    Vietjet has 200 737 MAX jets on order, according to Boeing, but the plane has not yet returned to service in Asia following a near two-year global grounding.

  • Couche-Tard drops $20bn Carrefour takeover plan

    Couche-Tard drops $20bn Carrefour takeover plan

    Canada’s Alimentation Couche-Tard has dropped its €16.2bn ($19.6bn) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.

    The decision to end merger talks came after a meeting on Friday between French Finance Minister Bruno Le Maire and Couche-Tard’s founder and chairman, Alain Bouchard, the sources said, speaking on condition of anonymity as the matter is confidential.

    Couche-Tard and Carrefour declined to comment.

    Earlier on Friday, France ruled out any sale of grocer Carrefour on food security grounds, prompting the Canadian firm and its allies to mount a last-ditch attempt to salvage the deal.

    “Food security is strategic for our country so that’s why we don’t sell a big French retailer. My answer is extremely clear: We are not in favour of the deal. The no is polite but it’s a clear and final no,” Le Maire said.

    Couche-Tard was hoping to win the government’s blessing by offering commitments on both jobs and France’s food supply chain and by keeping the merged entity listed in both Paris and Toronto, with Carrefour boss Alexandre Bompard and his Couche-Tard counterpart Brian Hannasch leading it as co-CEOs, one of the sources said.

    The plan included a pledge to keep the new entity’s global strategic operations in France and having French nationals on its board, he said.

    Couche-Tard, advised by Rothschild, was also going to pump about €3bn of investments into the French retailer which was working on the deal with Lazard.

    The proposal was widely backed by Carrefour which employs 105,000 workers in France, its largest market, making it the country’s biggest private-sector employer.

    France’s rejection of the deal less than 24 hours after talks were confirmed sparked grumbling in some business circles over how French President Emmanuel Macron, a former investment banker, is turning away foreign investment. Some politicians and bankers said the pushback could tarnish Macron’s pro-business image, while others highlighted that the COVID-19 crisis had forced more than one country to redefine its strategic national interests.

  • Think tank forecasts some growth for Vietnam

    Think tank forecasts some growth for Vietnam

    A government think tank has pegged economic growth at 6.46 percent this year thanks to the country’s success in containing the Covid-19 outbreak and maintaining stability.

    Vietnam is one of the fastest recovering economies in Asia, the Central Institute for Economic Management (CIEM) said in a report.

    In the best-case scenario, credit growth would be 13 percent against 10.1 percent last year, it said.

    But it also warned of risks that could hamper growth, like the unpredictable global economic situation as the pandemic situation remains severe in many countries and possible anti-dumping and countervailing investigations by the U.S. and other countries.

    Several international organizations have forecast a strong recovery for Vietnam this year, with lender HSBC forecasting growth of 7.6 percent. The International Monetary Fund and Asian Development Bank have forecast 6.5 percent and 6.1 percent growth.

    The government has set a target of 6.5 percent.

  • AirAsia Wants Half Of Its Revenue To Come From Outside Flights

    AirAsia Wants Half Of Its Revenue To Come From Outside Flights

    Low-cost airline AirAsia had a tough 2020. But its CEO, Karen Chan, is taking a glass half full approach. She says the travel downturn and subsequent fallout for AirAsia was a blessing in disguise. It forced AirAsia to look outside its comfort zone and at a new way of doing business. Now, Ms Chan plans to transform AirAsia into a lifestyle brand. As a result, by the mid-2020s, she expects 50% of AirAsia’s revenue will come from non-aviation sources.

    Speaking at a CAPA Live event on Wednesday, Karen Chan spoke about her vision for AirAsia and what it would mean for the airline.

    “We anticipate in five years time, basically by the end of 2024, that 50% of (AirAsia’s) revenue would be coming from non-flight-related, non-aviation-related revenue.”

    As a low-cost carrier, AirAsia already has handy ancillary revenue streams. Their base fares are cheap, but checked-in luggage on short sectors starts from US$12, seat selection starts from just under $3, and a reheated container of AirAsia’s pretty good nasi lemak costs just over $4. In 2018, ancillary revenue made up 22% of AirAsia’s total revenue. Around half of that 22% came from baggage charges.

    Last year, AirAsia Group chief executive Tony Fernandes, said his airline group was diversifying.

    “AirAsia.com is more than just selling airline tickets,” he said. “We now have the same potential to sell hotel rooms. I can do some crazy things. I can say I can buy hotels, book a hotel room with us and I can give you a free flight. Hotels can be as large as AirAsia tickets.”

    Yesterday, Karen Chan spoke about AirAsia’s ambitions to become a fully-fledged online travel agency that offers not just hotels but also a range of travel and lifestyle products and experiences.

    “Not all the flights are always full, and the load factor will not be 100%,” said Ms Chan.

    “So the unsold infantry, and because they are so perishable, even as an 85% load factor for an Airbus A320, I still have about 20 to 25 seats unsold. I will now be able to bundle that unsold inventory for one ringgit or 25 cents with the hotel’s direct inventory. And I will be able to go into the market with a best buys guarantee.

    “We can go and expand into where other airlines are just not able to do so. We actually want to go and be seen as basically a lifestyle partner.”

    AirAsia’s ancillary revenue plans are not restricted to the travel basics of hotels, transfers, and side excursions. The airline wants to build its delivery and e-commerce business. AirAsia sees itself as a future Asian e-commerce giant. But it’s not just Amazon parcels AirAsia wants to ferry around. AirAsia has detailed data on 75 million former passengers in its database. They know you purchased a nasi lemak on your last three AirAsia flights. Ms Chan wants to get down to the nitty-gritty. She wants to be able to deliver that meal to your home.

    “Data is basically the new black gold for us,” Ms Chan said.

    With AirAsia’s fortunes taking a hammering in 2020, there’s a good reason why the airline wants to expand its ancillary revenue sources. Whether a cheap and cheerful low-cost carrier out of Southeast Asia can successfully transform into a lifestyle brand is another issue. Whatever the result, but it will be interesting to watch.

  • Thai department stores must revise business models to stay relevant

    Thai department stores must revise business models to stay relevant

    While department stores have been a familiar destination for Thai people for many decades, CBRE, an international property consultant, is witnessing a decline in popularity and stunted growth, particularly in 2020 when Covid-19 adversely impacted the sector. CBRE believes that to adapt to e-commerce disruption and the changing consumer behaviour, department stores in 2021 (and beyond) will have to fine-tune their business model in terms of customer shopping experience, inventive activities and value-added programmes to continue their status as the second home for Thai shoppers.

    Jariya Thumtrongkitkul, Head of Advisory and Transaction Services – Retail, CBRE Thailand explained… “While department stores offer shoppers convenience, saving them time with many varieties of goods grouped in different departments and allowing the shoppers to find and compare products and choose what they want, the traditional department store model does not fit the needs, lifestyle and behaviour of its shoppers anymore, especially the new generations.”

    According to CBRE Research, the total retail supply in Bangkok as of Q4 2020 increased to 7.8 million square metres, a 1.16% increase year-on-year. Out of this, only approximately 3% was reported within the department store format. The department store market in Thailand is mainly dominated by two domestic retail giants, with Central Group and The Mall Group holding the largest market shares. They do not only concentrate in Bangkok, but have also opened department stores in many major cities throughout the country which allowed them to build bigger networks and grow their customer base.

    In the past few decades, Japanese investors had also shown interest in entering the Thai market and offered local features that are well-known in Japanese department stores: simplicity, premium quality and services. However, with strong competition many Japanese department store operators have ceased their expansion plans. Some have exited the country due to the fierce competition against the local players, their performance in Thailand and the shrinking Japanese department store business, especially in overseas countries.

    “The department store concept as a one stop shopping place is still in demand for certain groups of customers. However, with the e-commerce disruption and changing consumer behaviour, department store operators need to adapt their models, offerings and value-added services to their customers to cope with the challenging economic and market conditions.”

    Adaptability of department stores can be highlighted into 3 main parts: customer shopping experience, inventive sales and marketing activities, and value-added programmes. While more and more younger generations prefer to shop online to save time and money, the brick-and-mortar store is still believed to be the second home for Thai shoppers. Department stores should be more agile in the era of e-commerce and adopt some technological innovations such as in-store automation and mobile payment solutions to reach the younger crowds.

    Design is another aspect that plays an important part in customer shopping experience. Department stores can be more creative in remodelling traditional department store space into some ingenious and interactive space with a great design and right product portfolio mix for their customers.

    The Mall Group, for example, has launched its first “Lifestore” concept at The Mall Ngamwongwan at the end of 2020 by redesigning and renovating its traditional department store space to enhance customer shopping experience and enjoyment.

    The second part to be considered for the adaptability comprises inventive activities related to sales and marketing. The prices of products being sold in a department store are normally set high to cover the higher establishment and operating costs by operators, narrowing their target to only upper- to high-income customers.

    Brand offerings may also no longer meet fast-changing customer needs since today’s shoppers have more choices in buying products online, not to mention the declining footfall due to the growth of e-commerce. CBRE Research has seen domestic players pushing hard to drive sales growth via numerous promotions, marketing campaigns and activities and collaboration with credit card companies during seasonal sales.

    The third part consists of value-added programmes such as personal shopper, customer loyalty programme, on-demand solution and service personalisation, which have become a new trend as customers, including the aging population, are now more sophisticated and demanding.

    The retail landscape has changed drastically in the past few years from various factors like technological advancement, consumer behaviour and preference as well as Covid-19. Cookie-cutter strategy will be a thing of the past, especially for department stores where the format and offerings have remained the same for decades.

  • Super Nintendo unveils Japanese theme park

    Super Nintendo unveils Japanese theme park

    Japan’s awaited super Nintendo world is opening to visitors next month but fans around the world can now have a sneak peek as universal studios just launched a virtual tour of its theme park in osaka. from bowser’s castle to mario kart: koopa’s challenge, to yoshi’s adventure, the virtual experience will give Nintendo aficionados a glimpse of what’s coming up in february. want to give it a try?

    Universal Studios has announced the grand opening on february 4, 2021, of the super Nintendo world theme park in osaka, japan. the park will bring to life a highly themed and immersive land hosting Nintendo’s legendary worlds, characters and adventures. guests will be able to experience their favorite video games, including mario kart and yoshi-themed rides and attractions, as well as restaurants, shops and other experiences found at universal studios japan.

    as seen on the images, the super nintendo world theme park at universal studios japan is a colorful and interactive zone offering visitors a power-up band which is an innovative wearable technology that helps bring gameplay to life while allowing guests to keep their score. people wearing the power-up band will be able to punch blocks, collect virtual coins and more, just like mario and luigi do it on the video games.

    bowser’s castle is another of the attractions present in the park. inside, the castle exudes a mysterious atmosphere with its stone walls, spiked fences and heavy iron doors along with a massive sone statue of bowser at the center of the grand staircase. its scale makes visitors feel as if bowser would suddenly start moving.