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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.

  • President urges to accelerate development of tourism sector in 2016

    President urges to accelerate development of tourism sector in 2016

    President Joko Widodo has called on his officials to expedite the development of Indonesias tourism sector in 2016 in a bid to boost the countrys economic growth.

    President Widodo noted in his opening remarks during a limited meeting held to discuss the Lake Toba Tourism Destinations Development Plan at the presidential office in Jakarta on Tuesday.

    “I have urged the tourism minister to speed up development activities in the top ten tourist destinations,” he noted.

    The top ten tourist destinations to be developed based on the “single destination, single management” concept are the Borobudur temple, Mandalika resort, Labuhan Bajo beaches, Mount Bromo-Tengger-Semeru, Thousand Islands, Lake Toba, Wakatobi diving spot, Tanjung Lesung beaches, Morotai Islands, and Cape Tanjung Kelayang.

    President Widodo is optimistic that by developing the tourism destinations, the local small and medium enterprises (SMEs) would also boost their productivity and absorb more manpower.

    “We need a quick breakthrough in terms of regulation and work in other areas to deliver results at the earliest,” he emphasized.

    In particular, the president has called to boost connectivity and accessibility in Lake Toba by improving the airport and road infrastructure.

    “I am aware that two or three weeks ago, Coordinating Minister of Economy (Darmin Nasution), Public Works Minister (Basuki Hadimuljono), and Tourism Minister (Arief Yahya) had visited Lake Toba,” he remarked.

    President Widodo hoped that the visit would be followed up by a concrete action plan to be rolled out in the area, including organizing marketing activities, implementing international service standards, and holding cultural and art performances.

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  • Bangkok gets set for Chinese New Year

    Bangkok gets set for Chinese New Year

    Dig out your red clothes, hang up paper lanterns and pick up some firecrackers — Chinese New Year is returning to Bangkok.

    The biggest celebrations will take place on Yaowarat Road in the heart of Chinatown, with cultural displays, dance and musical performances to usher in the Year of the Monkey.

    Kicking off on Feb. 7, the Chinatown festivities will also feature lantern decorations, dragon parades and lion dances, street stalls selling Chinese cuisine and souvenirs, and entertainment from famous artists, including troupes and performers from China.

    Visanu Jaroensilp, Tourism Authority of Thailand (TAT) deputy governor for Tourism Products and Business said: “Thailand’s celebrations to mark the 2016 Chinese New Year will be even more special, as this is a significant year for the country. 

    “This year marks the 41st year of Sino-Thai diplomatic relations, and the 12th anniversary of cooperation between TAT and the Chinese Ministry of Culture in co-hosting the Chinese New Year celebrations in Thailand.”

    TAT estimates a boost in tourism revenue from the celebrations,  with about 1.01 million international tourists are expected to visit from Feb. 6-14. 

    Of those vistorss, an estimated 476,000 are expected to come from countries with Chinese communities including China, Hong Kong, Taiwan, Singapore and Malaysia.

    For more details on Chinese New Year celebrations throughout the country, visit the TAT website.

  • Metro Holdings group MD, Jopie Ong, dies

    Metro Holdings group MD, Jopie Ong, dies

    The group managing director of retailer and property firm Metro Holdings, Mr Jopie Ong Hie Koan, died last night.

    Mr Ong, who was in his 70s, had helmed Metro Holdings since 1973.

    He was the son of the late Ong Tjoe Kim, who founded the Metro chain of department stores. He was also a member of the nominating and investment committees.

    When contacted by The Straits Times, Metro Holdings confirmed that Mr Ong had died yesterday.

    Mr Ong joined Metro in 1964 and helped to grow the retail division, introducing into Singapore luxury brands such as Cartier and Piaget, and guiding Metro to its listing in 1973.

    He had also held board positions in the retail, property development, construction, hotel and leisure industries.

    Under Mr Ong’s leadership, Metro Holdings, founded in 1957 by his father as a textile store, has grown to become a property development and investment group.

    The firm has a turnover of $145.8 million and net assets of $1.4 billion as at March 31 last year.

    Mr Ong was instrumental in the setting up of Transmarco, a group that dealt in luxury brands, watches and computers, and was previously its chairman.

    He also acted as director of Metrojaya, which operated the Metro retail arm in Malaysia, prior to its divestment.

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  • Starhill Global Reit’s Q2 distribution per unit rises 2.3%

    Starhill Global Reit’s Q2 distribution per unit rises 2.3%

    YTL Starhill Global REIT (SGReit) said its second quarter distribution per unit rose by 2.3 per cent to 1.32 cents.

    Revenue for the three months ended Dec 31 grew by 13.8 per cent to S$55.6 million while net property income (NPI) rose by 10.4 per cent to S$43.7 million.

    The growth in revenue and NPI was mainly driven by the contribution from Myer Centre Adelaide which was acquired in May 2015 and the resilience of the Singapore portfolio performance.

    This was partially offset by lower contributions from China and net foreign currency movements. Income distributable to unitholders was S$28.8 million, up 3.7 per cent. On an annualised basis, the second quarter distribution represents a yield of 6.94 per cent, based on the unit closing price of 75.5 cents as at Dec 31. Unitholders can expect to receive their distribution on Feb 29.

    YTL Starhill Global chairman Francis Yeoh said the Reit delivered another strong earnings growth in the second quarter, underpinned by the resilience of the Singapore portfolio and contribution from its latest acquisition.

    “While Asia’s economic growth is expected to ease, we are confident our prime assets in key Asia-Pacific cities will remain resilient in an evolving retail landscape,” he noted.

    SGReit’s Singapore portfolio, comprising interests in Wisma Atria and Ngee Ann City on Orchard Road, contributed 60.8 per cent of total revenue or S$33.8 million.

    Its NPI increased by 2.7 per cent to S$27.3 million, led by positive rental reversions achieved in previous quarters. Singapore retail portfolio recorded flat rental reversions for leases committed during the quarter.

    Wisma Atria retail revenue increased 1.7 per cent and its NPI grew 3 per cent over the previous corresponding period on the back of higher revenue and lower operating expenses.

    On the flip side, tenant sales at Wisma Atria declined 1 per cent, mainly due to lower committed occupancies at the mall and tenant transitions during the quarter. Shopper traffic was down 2.5 per cent as the majority of Isetan’s strata-owned space remained closed for renovations since April 2015.

    Wisma Atria retail recorded lower committed occupancy of 94.9 per cent as at Dec 31, largely due to tenant mix reconfiguration at level 1. Ngee Ann City retail revenue gained 1 per cent while NPI increased 2 per cent. The next rent review for the Toshin master lease is due in June 2016.

    Meanwhile, the Singapore office portfolio continues to be supported by leasing demand as office supply pipeline in Orchard Road remains limited. The Singapore office portfolio revenue and NPI increased 3.9 per cent and 3.4 per cent respectively, on the back of 1.7 per cent positive rental reversions for leases committed in the second quarter.

    As at Dec 31, full occupancies were achieved for both Wisma Atria and Ngee Ann City offices. Some 40 per cent of the office leases due for expiry this financial year by gross rent have been either renewed or newly leased out as at Dec 31. SGReit units today ended half a cent higher at 73 cents.

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  • Government operating marine vessel power plant in North Sulawesi

    Government operating marine vessel power plant in North Sulawesi

    The Indonesian government is operating a marine vessel power plant (MVVP) called Zeynep Sultan to deal with electrical power deficit in North Sulawesi province.

    “The presence of this vessel is part of the governments attention to the current electrical power deficit affecting various areas (in the country),” acting North Sulawesi governor Sono Sumarsono said while inaugurating the operation of the electrical power supplying vessel in South Minahasa on Sunday.

    The operation of the marine vessel power plant is part of the governments program to develop power plants with a combined capacity of 30 thousand megawatts to overcome electrical power deficit in several regions in the country.

    “Hopefully, this national program will be successful so all areas in Indonesia will have electricity in the future,” he said.

    Sumarsono, who is also director general of regional autonomy at the Home Affairs Ministry asked South Minahasa district head Rene Hosang to help secure the vessel while it is in the district.

    The Santiago military district command 131 will also deploy its personnel everyday to safeguard the vessel, he said.

    He expressed the hope the operation of the vessel will deal with electrical power crisis in the provinces of North Sulawesi and Gorontalo.

    “The power crisis has become cause for major concern in the two neighboring provinces. Mr Habibie (Gorontalo Governor Rusli Habibie) and I have been protested almost everyday in case of power blackout,” he said.

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  • Indonesia becomes favorite destination for Chinese new year 2016

    Indonesia becomes favorite destination for Chinese new year 2016

    Chinas largest online travel agency, Ctrip.com, has revealed that Indonesia is one of the ten favorite destinations for Chinese tourists who want to celebrate Chinese New Year 2016 abroad.

    The ten favorite destinations based on the bookings made by the customers since mid January 2016 are Thailand, Japan, South Korea, Taiwan, Singapore, Hong Kong, United States of America, Indonesia, Malaysia, and Australia.

    Easy access in obtaining visas is one of the strong reasons they chose such countries, one of local media quoted the Publicity Manager of Ctrip, Yan Xin as saying here on Sunday.

    Indonesia ranked eighth of the ten countries that became the favorite destinations of Chinese tourists.

    Deputy of Sales affairs Director for the Asia Pacific Mission of the Indonesian Ministry of Tourism, Jordi Paliama said it was a good news to consider Indonesia as one of the Chinese tourists favorite destinations.

    “We would continue to improve our a variety and innovative promotions to attract more and more Chinese tourists,” he said in the event of “Indonesia Direct Promotion”, Beijing.

    The Ministry of Tourism has set a target of 200 visits of Chinese tourists for January-February 2016. It increased around 50 percent from the amount of 137,181 Chinese tourists visiting Indonesia at the same period in 2015.

    To increase the number of Chinese visits, the Ministry of Tourism also conducted a promotion programs in Wuhan, Shanghai, and Beijing.

    Ctrip.com estimated around six million Chinese people would spend their Chinese New Year holiday in foreign countries, starting from 7 February, with some 100 countries to be visited including Antarctic.

    East Asian countries such as Japan and South Korea remained the most popular destinations, while Singapore and Thailand became two Southeast Asian countries which attracted a lot of Chinese tourists during the celebration of the Year of Monkey.

    Around ten thousand Chinese tourists have been making reservations for holidays in Thailand, while some other preferred to choose Universal Studio, Singapore, to enjoy the warmth of tropical breeze.

    For a cruise tourism, around 90 percent of Chinese people chose to go to Okinawa and Kagoshima in Japan, and Jeju Island in South Korea.

    The Office of China National Tourism Administration (CNTA) reported that in 2015 there were 5.2 million Chinese people spent their Chinese New Year holiday abroad. The number was increased around 10 percent compared to the same holidays in 2014.

  • Platinum industry group to develop more investment products in Singapore

    Platinum industry group to develop more investment products in Singapore

    Singapore, which has seen a flurry of activity in its gold sector in recent years, could now see platinum take off in a similar way as the World Platinum Investment Council (WPIC) ramps up its promotional work here.

    The industry body has joined the Singapore Bullion Market Association (SBMA) here as it seeks to stimulate investor demand for physical platinum and increase the ways in which Asian investors can invest in the metal.

    As one of the most important wealth management markets globally with US$0.5 trillion in assets, Singapore offers “an abundance” of opportunities for both retail and institutional investment products, including coins and bars, and exchange-traded funds, said WPIC’s director of market development Marcus Grubb.

    SBMA chief executive Albert Cheng said WPIC is coming at “an interesting time” in the market’s development.

    “Since the removal of the Goods and Services Tax (GST) in 2012, there has been a real step-change in Singapore’s prominence as a major hub for precious metals trading and investment, a position we are working hard to consolidate,” said Mr Cheng. “The WPIC membership will undoubtedly contribute to our efforts by strengthening the region’s range and availability of investor products.”

    International Enterprise (IE) Singapore, the government agency responsible for developing the commodities sector in here, said the partnership will further strengthen the country’s position as Asia’s precious metal trading hub.

    “WPIC brings knowledge, experience and technical expertise in platinum as an investment, complementing SBMA’s role as a major association for precious metals for the region,” said IE Singapore assistant CEO Satvinder Singh.

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  • Singapore’s retail sector receives boost in talent development

    Singapore’s retail sector receives boost in talent development

    This initiative sees the integration of Enhanced Internship with SkillsFuture Earn and Learn Programme; whereby five local retailers will invest in talent management and retention programmes during students’ internships.

    Singapore’s five polytechnics – Nanyang Polytechnic (NYP), Temasek Polytechnic (TP), Ngee Ann Polytechnic (NP), Singapore Polytechnic (SP) and Republic Polytechnic (RP) – together with the Institute of Technical Education (ITE) and five local retailers signed on Tuesday (26 Jan 2016) a Memorandum of Understanding (MoU) to integrate the Enhanced Internship with the SkillsFuture Earn and Learn Programme.

    The signing took place at an Industry Practitioner Seminar organised by the Singapore Institute of Retail Studies (SIRS), and was witnessed by Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills).

    The MoU were coordinated by NYP, which leads the Retail Sector Coordination Team (SCT) in support of the national SkillsFuture movement. The Retail SCT also comprises the other four polytechnics, ITE and SIRS.

    Under this partnership, the five retailers – Charles & Keith (Singapore) Pte Ltd, Cold Storage Singapore Pte Ltd, Isetan (Singapore) Limited, StarHub Ltd and Wing Tai Retail Pte Ltd – will invest in talent management and retention programmes during students’ internships.

    Students who successfully complete at least 20 weeks of the Enhanced Internship with these firms may have a chance to be offered employment through the SkillsFuture Earn and Learn Programme.

    The duration of the SkillsFuture Earn and Learn Programme will be reduced to 12 months instead of the usual 18 months, and will culminate in a Singapore Workforce Skills Qualifications (WSQ) Specialist Diploma or WSQ Advanced Certificate in Retail Supervision. Supported by the Singapore Workforce Development Agency (WDA), this fast-track route enables a seamless integration of Enhanced Internship and the SkillsFuture Earn and Learn Programme.

    Another 11 retailers signed a separate MoU to offer Enhanced Internships to retail students. It was announced last year that Enhanced Internships would be offered to second- or third-year polytechnic or ITE students; and by 2020, all polytechnic and ITE courses will offer this.

    “As the sectoral lead for retail – an industry which is ever-changing and high in manpower demands – Nanyang Polytechnic aims to continue encouraging organisations to play a stronger role in talent growth and retention. The partnerships today will see more students getting a deeper knowledge of retail operations, and more importantly, allow companies to retain high-potential talents from the time they are interns,” said Jeanne Liew, Principal & Chief Executive Officer, Nanyang Polytechnic.

    “Integrating the Enhanced Internship with the SkillsFuture Earn and Learn Programme provides a seamless learning experience for students as they transit from school to the workplace. At the same time, the integration will boost employers’ efforts in identifying, attracting and developing skilled local talent. Both initiatives will work in tandem to better match polytechnic and ITE students with employers in their fields of study,” added Ng Cher Pong, Chief Executive of WDA.

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  • Burma’s Gasoline Retailers Urged to Cut Prices

    Burma’s Gasoline Retailers Urged to Cut Prices

    With world oil prices sinking, the Myanmar Petroleum Traders Association (MPTA)has urged the country’s gasoline retailers to slash prices.

    In a letter to the association, the Ministry of Energy said that although the retail price at Rangoon gas stations has seen a small decline—from about 50 to 80 kyat (US$0.04 to 0.06) per liter—the gap between world and domestic prices has yet to be sufficiently bridged.

    “While importers can easily reduce the wholesale price, it’s more difficult to reduce the retail prices at gas stations because there are costs for running these stations,” said Win Myint, chairman of the MPTA.

    “Some stations in other cities haven’t reduced their retail price. That’s why now we’re encouraging them to cut the price as much as they can,” he added.

    Distribution at gas stations has proliferated since the Burmese government eased restrictions on importing gasoline in 2011. More than 50 companies now import from Singapore alone.

    Burma imports some 80,000 tons of octane and 200,000 tons of diesel each day, according to the MPTA. In Burma, one liter of octane is about 550 kyats, down from 600 kyats, while diesel prices have fallen from 570 to 500 kyat over the last week.

    In the world market, one barrel of oil runs for approximately $30 to $50.

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  • South Korea’s industrial production rebounds

    South Korea’s industrial production rebounds

    South Korea’s industrial production rose 1.2 percent in December from a month earlier, posting the first rebound in three months, a government report showed on Friday.

    The production in all industries declined 1.3 percent in October and 0.4 percent in November each before gaining 1.2 percent in December on a month basis, Xinhua cited Statistics Korea as showing.

    The rebound came on the back of improvement in both production and investment among manufacturers.

    Production in the manufacturing and mining industries grew 1.2 percent in December from the previous month. It was attributable to the resumption of operations in oil refiners and petrochemical companies after the end of the regular maintenance period.

    Output in chemical products increased 4.7 percent, with oil-refining activity expanding 7.3 percent.

    Inventory among manufacturers reduced three percent, and the factory utilisation rate in the manufacturing industry averaged 73.8 percent in December, up one percent from the previous month due to a year-end demand.

    Production among service companies were steady last month due to slump in finance, insurance and wholesale & retail sectors that offset growth in transport and leisure sectors.

    Retail sales, which reflect private consumption, reduced 0.1 percent in December from the previous month, falling for two straight months.

    The private consumption jumped in October thanks to massive promotion events, called Korea Black Friday, and consumption tax cuts for cars, but it turned downward for two months through December.

    Sales of semi-durable goods like clothing tumbled five percent as the average temperature of the winter season was higher than usual despite a temporary cold wave.

    Durable goods sales increased 3.8 percent on demand for cars.

    Facility investment declined 6.1 percent in December on a monthly basis as machinery and transport companies spent less on equipment.

    Construction works completed expanded 7.4 percent as a large number of apartments went on sale and social overhead capital (SOC) was spent much last month.

    For the whole year of 2015, industrial production increased 1.5 percent, up from a 1.3 percent expansion in 2014.

    Production in the manufacturing and mining industries reduced 0.6 percent last year as sluggish exports dragged down the demand for production of ships and electronic devices such as handsets.

    It marked the first reduction in manufacturing production since 2009 when the global financial crisis peaked.

    Manufacturers posted a capacity utilisation rate of 74.2 percent in 2015, down 1.9 percent from a year earlier.

    It was the lowest in 32 years since 1998 when the Asian foreign exchange crisis hit South Korea.

    Production in the service industry grew 2.9 percent in 2015, recording the biggest yearly expansion in four years.

    Retail sales increased 3.4 percent last year, with facility investment growing 6.2 percent.

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  • Maitland Smith Philippines Designer Exquisite Vase Pottery, retail$349

    Maitland Smith Philippines Designer Exquisite Vase Pottery, retail$349

    Beautiful hand made designer artistic vase pottery designed by Maitland Smith Ltd. in Philippines, selling for $150, cash only. Retail price is $349.95 plus tax, reduced to sell quickly, original tags from purchase on bottom of vase

    Maitland-Smith specialises in fine home furnishings and accessories that are made to become treasured family heirlooms. The company is a leader in manufacturing premium and antique-inspired furniture, wall décor accessories, lighting, and many more items for luxury home furnishing. To ensure your home furnishing is indeed unique, Maitland-Smith furniture often comes out with limited editions of its products.

    Paying meticulous attention to intricate details, Maitland-Smith signifies luxury in its one-of-a-kind elegance in terms of designs, exemplary quality, impeccable craftsmanship and extensive choice of materials. The products are handcrafted by expert craftsmen and skilled artisans and showcase beautiful design sense and creative interpretation over a wide variety of traditions and styles.

    Maitland-Smith creates high quality furniture that promises to be unique additions to any home. Their eclectic use of bronze, penshell inlays and lacquer techniques highlights their devotion to quality and styling. Hence, whether you are looking for fine living room furniture, dining room lighting, or pedestal tables; Maitland-Smith furniture promises to be one of the safest bets!

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  • 3M Indonesia eyes increased market share

    3M Indonesia eyes increased market share

    Diversified technology company PT 3M Indonesia aims to gain a bigger market share by targeting specific markets to better meet demand from various industries.

    The company, whose market share is now less than 5 percent, did not disclose its market share growth target, but globally it aims to boost sales by around 2-3 percent.

    3M Indonesia president director Karina Chaves Rodriguez said the company had divided its market into four groups: industrial and original equipment manufacturer (OEM); infrastructure, construction and energy; health care and consumer retail.

    “This market-focus [strategy] is also in line with the country’s strategic plan to achieve growth by providing better infrastructure to the population, better healthcare solutions and diversifying itself from the commodity based economy to industrial based. All of that will increase people’s purchasing power,” she told a media gathering on Thursday.

    The company, a subsidiary of the US-listed Minnesota, Mining and Manufacturing (3M) Co., is known for its wide array of products, from Post-it sticky notes to 3M window film.

    Karina added that the company initially marketed its products based on the 46 technology platforms they are made of, such as abrasive and adhesive. However, starting 2015, it compressed them into four market centers.

    3M Indonesia, which entered the local market in 1975, sells 10,000 products, ranging from Scotch Brite kitchen sponges, Nexcare masks, oil-absorbing facial sheets, stethoscopes, industrial tape, cleaning liquid, vehicle sound absorbers, machine filters, cable joints to reflective sheeting for road signs, to businesses, individuals as well as the government for infrastructure projects.

    The company is optimistic about sales growth in the country despite slowing demand, especially from the automotive sector last year. Local car production saw a decline from 1.2 million vehicles in 2014 to 1 million in 2015.

    It believes that the government’s goal to build 15 new airports, 172 seaports and 35,000 megawatt (MW) power plants by 2019 will help boost its industrial product sales and enliven other sectors.

    The new strategy is also applied worldwide to achieve its 2 to 3 percent sales growth this year after booking US$30.3 billion sales, mostly from industrial products followed by infrastructure, consumer retail and health care, from the 200 countries in which it operates and sells 80,000 products.

    For Indonesia itself, 3M refuses to disclose the firm’s domestic target but said that it would comply with the government’s local component regulation.

    3M Indonesia country technical leader Audist Subekti said the state obliged the automotive sector to have 20 to 40 percent local content and a minimum of 40 percent for infrastructure.

    “With such policy, the company will either outsource more local producers or prioritize marketing specific products,” she said.

    The company’s wide playing fields also face huge competition from present players, including thousands of Chinese products, ACE, Llumar, Solar Gard, Nexgard and Voksel Electric.

    Audist said the company had one diversified manufacturing plant in Tambun, Bekasi, West Java that fabricated various goods, from automotive-related products to consumer retail. 3M Indonesia employs around 300 people.

    “The rest of the items are imported from different countries but this year we’re planning to make one of the countries in ASEAN our fabrication hub for consumer retail products. The choice depends on which country offers the proper incentives that will help save costs,” she said.

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  • China ‘Get Mobile’ event set to cover travel retail

    China ‘Get Mobile’ event set to cover travel retail

    The travel retail industry is ‘among the most concerned’ with addressing the huge shift toward ‘unrivalled consumer engagement and sales growth through mobile devices’ within China during 2015, according to the European conference organisers of China Connect.

    The company is currently drumming up support for its sixth ’Get Mobile’ European Conference on China’s Digital and Mobile Marketing, due to be held in Paris between 6-7 April, 2016.

    The organisers are promising that ‘China’s Internet Giants’ will be present at what it describes as ‘the largest European gathering of experts on Chinese consumer trends, digital and mobile marketing and tech innovation’, following on from the event’s initial launch back in June 2011 by Laure de Carayon.

    This will compirse four main sessions which will include Inbound/Outbound Tourism and Travel Retail; Commerce and cross-border; Content/Social Media/CRM; and Tech Innovation.

    China Connect previous event

    The event is now said to be in its sixth year.

    The Inbound/Outbound Tourism and Travel Retail session will apparently cover ‘the Smart Travel boom’ and stiffer competition in worldwide destinations and the 90% of overseas expenditure by Chinese travellers abroad which is still spent on shopping. The conference also promises to tell brands  what they need to know ‘to hook the Chinese tourists’.

    The organisers say that the Commerce and cross-border session will also cover information of the third  of Chinese online shoppers who acquired goods through cross border purchasing in 2015 and how these online shopping options are expected to diversify in future.

    UNLOCKING A ‘NEW MOBILE ECONOMY’…

    Commenting on the upcoming event, founder and CEO Laure de Carayon said: “China is driving the huge acceleration in mobile adoption worldwide, unlocking a new mobile economy.

    “2015 in China has seen unrivalled consumer engagement and sales growth through mobile devices, making it the must-be place, more than anywhere else in the world, to reach and do business with Chinese consumers, in and outside China.

    “Retail tech through social shopping, omni channel, cross border and mobile payments, Tourism, Travel retail are among the most concerned industries to (have to) tackle this huge mobile shift and opportunity.

    “More than ever it’s critical for brands to adapt and offer a seamless consumer journey to the very demanding and tech savvy Chinese consumers.”

    The organisers are promising that more than 40 speakers/companies will participate, including: Tuniu (Leading online Leisure Travel website & mobile platform); WeChat International; UnionPay International; Zanadu (Luxury, Travel, Lifestyle online&mobile platform); Sensoro (iBeacon); Clarins APAC; Herborist (Jahwa Group); EL Corte Ingles; China-Britain Business Council; We Are Social China; China Luxury Advisors; Datawords; Yandex; CDNetworks; and Cathay Capital.

    FACTS ON THE CHINA E-COMMERCE SECTOR…

    In the meantime, the event company has also released some facts and figures on the China market, claiming that the internet population in 2014 was estimated at +630m, representing a 50% penetration, compared with the average 82% in the US, 61% in Europe and +83% France.

    In terms of e-commerce, online shoppers were said to have reached +400m, with the online shopping turnover totalling CY754.2bn ($123.2bn), based on a year-on-year growth of 47.3%. As of December 2013, the organisation claims that e-commerce represented 6.8% of total consumer goods retail sales.

    The organisers add that the online shopping market is estimated to have reached CY1.74 trillion ($278.4bn) in 2014.

    The China Connect audience at a previously held event.

    By 2016, the organisers say that China’s total online retail will reach CY5 trillion, accounting for 12% of total sales and then double again by 2020 to CY10 trillion accounting for 16%. At the same time, China’s e-commerce (including online B2B transactions) are expected toreach CY30 trillion.

     

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  • Changi online quadruples, concessions hit $1.5bn

    Changi online quadruples, concessions hit $1.5bn

    Concession sales at Singapore Changi Airport (SIN) rose by +8% in 2015 to over S$2.2bn/$1.54bn helped by the popularity of the airport’s online shopping portal (iShopChangi.com) and growing passenger interest in the Changi Millionaire draw.

    China, Singapore, Indonesia, India and Australia were the airport’s top five customer groups contributing most to sales last year, according to the airport operator, Changi Airport Group.

    Passengers from China accounted for almost 30% of total sales, registering the strongest growth of +28% while Singaporeans accounted for about 20%, maintaining modest growth of +3% year-on-year.

    Liquor and tobacco, and perfumes/cosmetics continued to be the most popular product categories at Changi, followed by luxury goods, electronics/equipment, and confectionery.

    ONLINE TRAFFIC DOUBLES, SALES QUADRUPLE

    A major change last year was that online shopping on iShopChangi.com saw a doubling of traffic to the portal compared to visits in 2014. However sales increased fourfold indicating a rising level of spending per head.

    Arriving, departing or transiting passengers at the Singapore hub can shop at iShopChangi.com from two weeks in advance of their travel, and up to 18 hours before their flight.That has been helped by the product range being expanded to seven categories since the site launched in 2013 and it now offers more than 6,000 items for passengers who want to shop online. However, only wine/spirits and beauty products are available for purchase and collection on arrival from DFS and Shilla outlets. Beauty products, electronics and wines and spirits are the most popular items.

    MILLIONAIRE DRIVER

    The Changi Millionaire promotion has also helped lift revenue. In 2015, the promotion, which runs from May to October, attracted nearly two million lucky draw entries from 229 nationalities globally. The top three groups were Singaporeans, Chinese nationals and Indonesians, with Singaporeans making up over one-in-three of the participants.

    To participate in the draw, passengers and visitors needed to shop or dine at Changi Airport, with a minimum spend of just S$30 in a single receipt. Purchases made in both the public and transit areas of Changi Airport are eligible for the draw. Travellers shopping on iShopChangi.com had up to 10 times more chances of being picked as a finalist.

    Commenting on the record concession sales, Lim Peck Hoon, Executive Vice President of Commercial at CAG, says: “This is positive for the Singapore air hub as profits from our retail business help to offset the cost of our aeronautical operations.”

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  • Gallery & Co opens at National Gallery Singapore

    Gallery & Co opens at National Gallery Singapore

    Visitors to the National Gallery Singapore can now enjoy a quick dose of retail therapy and casual dining experience all under one roof at the newly opened Gallery & Co.

    Spanning 8,800 sq ft across the City Hall Wing on the ground floor, Gallery & Co comprises of a museum shop and cafeteria.

    According to a press release on Thursday (Jan 28), the shop is a partnership between the National Gallery and lifestyle and design collective & Co, which was founded by hotelier Loh Lik Peng, Yu Yah-Leng and Arthur Chin from Foreign Policy Design Group, and Alwyn Chong of Luxasia.

    Inspired by Southeast Asian arts and culture, Gallery & Co. hopes to fuse art and design into a curated retail and dining experience.

    “The Gallery is pleased to work with the principles of & Co who are passionate about this project and share our vision to create a seamless shopping and dining offering that is an extension of the National Gallery experience,” said Mr Kola Luu, Director (Business & Corporate Strategic Development Group), National Gallery Singapore.