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Category: Living

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

  • Hong Kong retail sales reflect tourism downturn

    Hong Kong retail sales reflect tourism downturn

    The devil is in the detail in the August Hong Kong retail sales data.

    Census and Statistics Department (C&SD) figures show a 5.4 per cent drop year on year in the total value of retail sales in August, provisionally estimated at $37.9 billion.

    After netting out the effect of price changes over the same period, the volume of total retail sales in August 2015 decreased by 0.2 per cent.

    The root cause of Hong Kong retail industry’s challenge is very clear from the breakdown of the data by category. It’s the reduced volume of inbound tourists from the mainland – and their reduced spending. And, to a degree, a shift in the timing of the Mid-Autumn festival, although early indications from retailers say this year’s trade is one of the worst on record.

    A government spokesman observed the fall “was in part due to the slowdown in inbound tourism, while the stock market gyrations of late might also have dented consumer sentiment”.

    Here’s where the detail comes in:

    • Sales of Chinese drugs and herbs fell 17.4 per cent.
    • Apparel fell 13.5 per cent.
    • Jewellery, watches and clocks and valuable gifts by 8.8 per cent.
    • Department store sales by 8.6 per cent.

    These are all categories which in the past were supported heavily by inbound tourists. Those tourists – lured by the prospect of their cash stretching further, are now heading to Japan, South Korea (now the Mers crisis is over) and Europe. Especially those who can afford the higher air fares to such destinations.

    In other categories, medicines and cosmetics fell 5.1 per cent, food, alcoholic drinks and tobacco by 10.2 per cent, books, newspapers, stationery and gifts by 4.4 per cent; footwear and accessories by 4.4 per cent; furniture and fixtures by 5.9 per cent and optical shops by 8.1 per cent.

    The only bright spots for the month were “miscellaneous consumer durable goods” up 50.2 per cent (it’s a small category) and photographic equipment up 3.9 per cent. Supermarket sales rose a meagre 0.4 per cent.

    Seasonally adjusted, the value of total retail sales decreased by 0.2 per cent in the three months to August compared with the preceding three months, while the volume of total retail sales remained virtually unchanged.

    The government spokesman concluded: “The near-term outlook for retail sales is still subject to uncertainties, depending on the performance of inbound tourism and on whether there would be further negative impact from the recent heightened stock market volatility.”

  • Matahari speeds up G7 rollout

    Matahari speeds up G7 rollout

    PT Matahari Putra Prima has relaunched its Hypermart G7 concept at Metro Indah Mall Bandung in West Java.

    Another Hypermart store within the same province reopened on September 26, at Depok Town Square as the multi-format Indonesian retailer speeds up its hypermarket modernisation program.

    The Hypermart G7 generation features a new type of gondola shelving with wider hallways to provide better navigation for customers, as well as a larger fresh foods area. Fashion and Beauty centres were upgraded and expanded and there is more emphasis on bakery, ready to eat meals, fresh food, bulk food and home & living.

    Director of public relations and communications, Danny Kojongian. said the openings not only represent stronger Hypermart’s presence within the regions, but also Matahari’s commitment to delivering its outstanding G7 Hypermarts to Indonesian consumers despite the current challenging macro-economic condition.

    “We are proud and honoured with our participation to strengthen the nation’s economy through Hypermart expansion, reinventing Foodmart supermarkets and starting to cater to the B2B segment throughout the regions,” he said.

    “MPPA is poised further to become the No. 1 Multi-Format FMCG Modern Retailer in Indonesia.

    Hypermart MIM Bandung is the seventh outlet to be renovated to the new G7 format. Two new ones have also been opened.

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  • Golden Week loses its glitter in Hong Kong

    Golden Week loses its glitter in Hong Kong

    It was a lukewarm Golden Week for the Hong Kong Special Administrative Region as the number of visitors to the city remained stagnant at levels seen during the same period a year earlier.

    Confounding the SAR’s woes were reports from several leading retailers about sluggish sales.

    The Hong Kong SAR Immigration Department said on Wednesday that during the first six days of the National Day holiday starting Oct 1, the city received more than 1 million visitors from the mainland, or 3.26 percent more than last year.

    The holiday, also known as the Golden Week, is one of the longest nationwide holidays and an important peak season for Hong Kong’s tourism industry.

    Six days into the Golden Week, Hong Kong recorded 2.45 million visitors arriving in the city, 5.82 percent less than the same period in 2014. The busiest day was Oct 2, when 443,640 visitors passed border check points. Among them, 202,703, or 45.69 percent, came from the mainland.

    Yet on the street level, this Golden Week was less glaring than the previous ones. Few mainland shoppers were seen queuing up outside the luxury stores along Canton Road in Tsim Tsa Tsui, one of the city’s prime shopping hot spots.

    “This year Hong Kong received a lot of transit passengers and many other visitors are single-day returns. That is why this Golden Week appears to be quieter,” Joseph Tung Yao-chung, executive director at the Travel Industry Council of Hong Kong, told China Daily.

    According to Tung, the fact that many destinations in the region relaxed visa application thresholds to mainland tourists has changed the game. “It’s now much easier to visit countries such as Japan, South Korea and even the United States. Competition is fierce for Hong Kong,” he said.

    However, Macao, the peer city of Hong Kong, recorded 799,717 mainland tourists from Oct 1 to 6, 6.3 percent more compared with 2014. Total visitors arriving at Macao also increased 1.8 percent year-on-year to 938,197 during the same period.

    Gregory So Kam-leung, secretary for commerce and economic development of Hong Kong, said on Tuesday that the city needs to develop more attractions to stay competitive. He added bad weather also has affected the holiday atmosphere.

    Tung said protests against mainland tourists earlier this year did not drive visitors away, as such activities involved “only very few people” and “Hong Kong in general welcomes tourists”.

    He said that with discounts offered, hotels in the SAR still managed to fill 80 to 90 percent of their rooms. “The key is to do more promotions and attract more overnight visitors. We have confidence in local catering and shopping offers. Hong Kong is still one of the top choices for mainland tourists.”

    Other sectors are not so optimistic. Ahead of the weeklong holiday, the Hong Kong Retail Management Association forecasted “a single-digit to a low double-digit drop in sales value” for most of the member companies during the Golden Week compared with the same period last year.

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  • Asia Pacific Travel Retail Association launches member survey

    Asia Pacific Travel Retail Association launches member survey

    The Asia Pacific Travel Retail Association (APTRA) has launched a survey among its members to ascertain priorities for the 2016/2017 APTRA research programme.

    According to APTRA, it is a fundamental mission to further the knowledge of members through studies conducted in partnership with accredited research agencies into past performance of the duty-free and travel-retail industry in the Asia/Pacific and current trends in consumer behaviour to facilitate future development.

    APTRA president Jaya Singh commented: “The business environment of today and indeed the future, is getting increasingly sophisticated and demanding. We live in dynamic times and the greater the level of insights we can achieve through our research platform the greater the relevance that all our stakeholders and members can deliver.”

    Recent reports have covered a range of topics including Chinese, Indian and Korean consumer behaviour, Cambodian travelling consumer trends, impact of security regulations and product category reports into fashion and accessories, confectionery, gifting and eyewear. Although the full research reports are available exclusively to APTRA members through www.aptra.asia, key findings are shared with members and other interested parties at APTRA Insights Seminars staged around the Asia/Pacific.

    In September, a total of over 250 participants attended the latest APTRA Insights Seminars which took place in Hong Kong, New Delhi and Seoul.

    Topics included key results of the APTRA m1nd-set study into Chinese, Korean and Indian travellers, analysis of e-commerce behaviour from KPMG, Chinese social-media landscape and potential of WeChat marketing from China International Duty Free and potential of technology to reach travellers on the move from geo-location marketing company NEAR.

    Singh added: “Through its research programme, APTRA provides actionable insights which enable members to understand their customers better and identify future opportunities. We want to target our research where it is most needed so we have asked members to nominate future subjects for research.”

    Commenting on the seminars, he said the “the response from delegates to the recent APTRA Insights Seminars was extremely favourable and we intend to schedule similar seminars into the programme next year.

     

  • Retailers offer bigger deals for Korean Black Friday

    Retailers offer bigger deals for Korean Black Friday

    Retailers have marked down prices further for a government-led nationwide sales event dubbed Korean Black Friday after it faced ridicule for the lack of preparation.

    On Tuesday, the sixth day since the grand sale event launched, major department store chains said they will offer additional bargain deals on the trot only a day after the government said it would put spurs to the grand sale.

    The event aimed at fueling domestic consumption will run through Oct. 14 with some 70 businesses and 33,000 stores taking part.

    Lotte Department Store said that 40 more brands will participate and some 70 stores will increase their discount rates by 10 to 20 percentage points.

    “To live up to customers’ expectations and help revitalization of the domestic market, we beefed up various additional events with partners,” said Lee Wan-shin, marketing director of Lotte Department Store.

    Other retail giants including Shinsegae and Hyundai Department stores also offered up to 10-20 percent additional discounts on certain brands.

    On Monday, the government announced that it will encouraging more firms to take part and review to hold the event annually in a more organized system.

    “There has been criticism that the sales fell short of expectation because it was arranged in relative haste,” said Hwang Kyu-yearn, deputy minister for industrial creativity and innovation at the Industry Ministry.

    “Through discussions with companies participating in the event, we plan to expand the number of items and discount rates. And they are expected to respond positively (to the government’s call) as sales of most major outlets have grown over the past few days,” he said.

    Over the past five days since the event was launched, sales at major department store chains jumped 10.9 percent and major discount outlet chains surged 13.8 percent from the same period last year.

    Some market insiders, however, note that many loopholes still need to be filled to regularize the shopping promotion campaign such as schedules, promotion method and participants.

    They said such a nationwide bargain event needs to be held during the end of the year season when companies are more keen to clear up inventories.

    Unlike this year’s event that only retailers take part in, the active involvement of manufacturers is needed as some suppliers took the burden of slashing prices, they said.

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  • IMAX China Listing Underperforming

    IMAX China Listing Underperforming

    The demand for IMAX China shares has not met expectations, according to a filing on Wednesday.

    The $248-million initial public offering (IPO) of IMAX China Holding Inc. in Hong Kong saw a relatively weak demand from retail investors, according to a filing on Wednesday.

    The demand for new listings in Asia Pacific stock markets has been hurt by the weakening of the Chinese stock markets earlier this year, as well as the rather sporadic performance of other equity markets around the world.

    IMAX China Holding Inc., majority-owned by the giant screen movie theater equipment maker of the same name, is most likely a casualty of this market slowdown.

    There have been some signs of improving confidence in the market, with China Huarong Asset Management Co. and China Reinsurance Group interested to make their Hong Kong IPOs this week, worth a combined $5 billion. However, market players and analysts have said that it is still too early to predict a recovery.

    “Sentiment has not recovered, it’s not that strong yet because the market remains volatile recently,” according to Jasper Chan, a Corporate Finance Officer at brokerage Phillip Securities in Hong Kong.

    The IMAX China IPO was priced last week at HK$31 ($4) per share, near the bottom of its marketed range. Demand for shares from retail investors accounted for a mere 70 percent of the shares that were offered, according to the filing.

    In comparison, the listing of Yunnan Water Investment Co. Ltd. in May was demanded by retail investors 354 times the number of shares offered.

    In April, the listing of Shanghai Haohai Biological Technology Co. Ltd. was oversubscribed around 180 times the shares offered.

    However, the institutional tranche of the deal was oversubscribed, according to IMAX China.

    The IMAX Corp. China unit debuted on the Hong Kong stock exchange on Thursday, marking the first listing by a major global brand there since 2011.

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  • Poland’s Jatomi Fitness moves into Thailand

    Poland’s Jatomi Fitness moves into Thailand

    Thailand is Jatomi’s third country in Asean after the company opened branches in Malaysia and Indonesia, group chief executive officer Tracy Gehlan said.

    Currently, the company has more than 150,000 members across its 70 clubs in seven countries. Originating in 2008 from Poland, it has locations in the Czech Republic, Romania and Turkey as well as expanding into Southeast Asia, where it has locations in Malaysia, Indonesia and now Thailand.

    It plans to expand to 250 clubs worldwide over the next five years, she said.

    Gehlan said the company was expanding into Thailand because of the country’s strong market potential. Currently, only 0.3 per cent of the Thai population regularly uses a fitness club, with many finding the expense of joining such a club too high, and many quit working out as they fail to achieve their desired results.

    Jatomi Fitness is focused on being one of the world’s most innovative fitness-club operators. It says it aims to deliver a truly accessible and vibrant fitness experience to its members at good value, using state-of-the-art equipment and professional personal trainers who have expertise in nutrition and health.

    Its first club in Bangkok opened at Big C Rajdamri with 1,300 square metres of club space. The second is at Tesco Lotus Rama 4, with 1,450sqm of club space. Both locations are easily accessible via public transport and located to ensure that going to the gym fits in with their daily routine, Jatomi says.

    The club offers membership fees starting at Bt1,300 per month.

    The company aims to have 48,000 members in Thailand by 2018.

  • Smash hit Australian kids’ stationary store Smiggle is going global

    Smash hit Australian kids’ stationary store Smiggle is going global

    Billionaire retail veteran Solomon Lew is boosting the global presence of his iconic kids’ stationary store, Smiggle, after announcing plans to open up 50 new stores across Hong Kong and Malaysia over the next five years.

    Managing director of Premier Investments’ Smiggle, John Cheston, has singled out the growing appetite for fashion-based stationary in Hong Kong’s shopping centres which he describes as being a “fertile ground” with “limited competition”.

    “In Hong Kong if you are hot they want you and if you are cold they don’t. We are in demand from the landlords over here. We need to leverage that business with the agents who represent us and get good locations and get good deals. The biggest challenge is getting the space and the rents,” Cheston told the AFR.

    So far, the retail chain store has opened more than 100 stores in Australia with shop fronts in New Zealand, Singapore including another 16 stores to open up before Christmas in UK this year, bringing the total to 200 stores in the UK.

    The decision to go global rides off the success of the stationary empire with last month’s figures reporting a sales jump of 26% to $132.6 million, making it the fastest-growing business within the Premier Investments apparel group.

    The retail is holding optimistic expectations about its first foray into the Hong Kong and Malaysian marketplace after testing the waters in Singapore earlier last year with plans to generate $55 million in revenue.

    “The international business in a very short period of time will be much larger than the Australian business and there are not too many Australian retailers who have been successful offshore,” said Lew.

    “This is going to be world-class operation and there is no reason it shouldn’t work in any country in the world where there is moderate income.”

    The decision for the retail giant to take things global has been on the cards for some time now.

    “The retail environment in Australia remains challenging, however we continue to adapt by rejuvenating our core brands, growing uniquely positioned brands like Peter Alexander and seeking opportunities for further offshore expansion of Smiggle,” said Solomon Lew more than two years ago.

    These comments were followed up by Lew who said that there would be continued investment to support the growth of Smiggle in local and overseas markets earlier this year despite volatile consumer confidence.

  • Aeon Living Plaza opens at HKIA

    Aeon Living Plaza opens at HKIA

    Aeon Living Plaza has opened at Hong Kong International Airport.

    The new 4200 sqft store offers 8000 items ranging from snacks and convenience items through to home furnishings, fine stationery and other giftwares.

    Aeon Living Plaza at HKIA 1

    The shop takes up three retail spaces on the second floor of Terminal 2 and trades from 9am to 9pm daily.

    Aeon Stores (Hong Kong) Department Store was founded in 1987 and listed on the Hong Kong Stock Exchange in 1994. It operates eight integrated general merchandise department stores (GMS) in Hong Kong, five supermarkets, 27 Living Plaza by Aeon stores, six Bento Express by Aeon and two independent La Bohéme Bakery outlets. In Guangdong Province it has opened 20 GMS stores, six independent supermarkets and two shopping centres.

    Aeon Living Plaza at HKIA 2

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  • Grofers shifts base to Singapore

    Grofers shifts base to Singapore

    PM Narendra Modi may have been the flag-bearer of `Make in India’, with his recent trip to the US being a highlight for `Digital India’. But another Indian startup has joined the growing list of new companies moving base out of India. Gurgaon-based Grofers decided to shift headquarters to Singapore from India.

    A hyperlocal grocery delivery firm, Grofers’ moving out is primarily due to a friendlier corporate regime in foreign countries.

    The shift has again highlighted a `brain drain’ of sorts with regards to Indian companies. Earlier, companies like Mobikon and AdNear had also moved out of India. In fact, Indian e-commerce’s poster boy Flipkart too shifted its base to Singapore, while some of the others like Fresh Desk and Druva chose USA.

    Grofers co-founder Albinder Dhindsa said, “Our main reason for a Singapore holding company is owing to listing potential in the future. Our assets are still on the books of the Indian entity, so tax equation remains same for us.”

    India’s high corporate tax rates and compliance issues are the key reasons for companies to join the exodus, industry experts pointed out.

    In fact, investors too are more confident putting money into a startup when the company headquarters operates out of a tech-friendly foreign country .Corporate tax rate is 30% in India, while the same in Singapore is 17%. “India is a hot spot for startups now. But it is yet to catch up in terms of regulations and tax structures. In a tech-friendly market, which is mature enough to house them, getting relatively higher fundings and more valuation becomes easier,” said a domestic investor.

    Key stakeholders pointed out what also makes it even tougher for early stage or emerging companies in the new economy space is the fact that a fairly modestvalued company has to exercise same sort of compliances which an established conglomerate is expected to meet in India. “It is a strenuous task for even a middlesized company to match the corporate compliance standards of, say , a behemoth like ITC,” a corporate lawyer said.

    For Grofers’ next round of funding too, the Singapore entity might come in handy as its competitors like BigBasket and PepperTap have recently raised funds for expansion and acquired consumers in a sector which is the hottest in the ecommerce arena in India.What remains to be seen is whether the government can arrest the rising exodus and `Make In India’ becomes a reality.

  • Despite Slowdown, China’s Outbound Tourists Reach 242 Million

    Despite Slowdown, China’s Outbound Tourists Reach 242 Million

    As Chinese tourists head across the globe for Golden Week this week, luxury retailers are worried that an ailing stock market and devalued yuan will lead to muted growth compared to holiday seasons of the past. But according to newly released figures, long-term growth prospects remain strong for Chinese travelers, who are expected to double in number over the next decade.

    Some destinations may be in for a Chinese spending slump when it comes to luxury shopping over the holiday. According to recent figures released by Global Blue, UK luxury retailers are especially expected to feel the pain of China’s current economic woes during Golden Week.

    The retail tourism firm reported that the devaluation of the yuan in June led to a 2 percent year-on-year decline in Chinese tourist spending in August for the UK, down from 8 percent growth in spending between January and July.

    According to an official statement, “Global Blue is anticipating the Golden Week rush will be significantly weaker this year, and the decline could continue throughout the fourth quarter as Chinese are left disinclined to book trips abroad.”

    But retailers shouldn’t fret too much about long-term prospects, as a recent study published by HSBC found that outbound Chinese traveler numbers are expected to hit 242 million by 2024—a number more than double last year’s amount, which was estimated by HSBC to be 116 million. In addition, a recent report by the Fung Business Intelligence Center and China Luxury Advisors found that outbound Chinese traveler spending will hit $422 billion by 2020, up from an estimated $200 billion this year.

    Even as retailers fret about their sales prospects for this Golden Week, not everyone is expected to lose out. A weak euro still makes Europe a popular destination despite the devalued Chinese currency, and Global Blue found that Chinese shopper numbers in Europe rose by 74 percent in the first half of this year.

    Online travel agency Ctrip still expects outbound tour bookings to double for the period, and has reported that Hong Kong, Tokyo, and Bangkok are the top three holiday destinations for Chinese tourists. While luxury retailers in some destinations may be noticing the slowdown much more than others, those that keep their eye on the prize when it comes to Chinese travelers are more likely to have a fruitful decade to come.

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  • Sri Lanka to revive Sathosa with help from Singapore

    Sri Lanka to revive Sathosa with help from Singapore

    Sri Lanka’s state owned retail chain Lanka Sathosa, plans to get support to revive from Singapore as the retail chain is making continues losses, ministry of industry and commerce said in a release.

    Lanka Sathosa owned more than 310 outlets around the Island.

    “We are restructuring LAKSATHOSA and are still experiencing monthly losses,” Rishad Bathiudeen, minister of industry and commerce was quoted saying in the release.

    In 2014, Singapore became the fourth in importing products and services to Sri Lanka representing 6.6 percent of Sri Lanka’s total import.

    Sri Lanka import petroleum oils, milk & creams, fertilizers, iron, steel and plastics from Singapore at around 1.2 billion dollars.

    “I recommend you to follow Singapore’s NTUC Fairprice Co-operative model for LAKSATHOSA. NTUC Fairprice is Singapore’s largest retailer with multiple retail formats,” Chandra Das, High Commissioner of Singapore and the former Member of Parliament of Singapore from Chong Boon was quoted saying in the release.

    “I see that SATHOSA too is basically a cooperative model. I was NTUC Chairman for 33 years therefore I can see that it’s a good model you can adopt. We have made NTUC Fairprice shops world-class. NTUC Fairprice competes on a “patronage rebate and a 10 percent lower price than comparable popular brands” model of retail, which brought it a revenue of 2.2 billion dollars in 2014,”

    “NTUC Fairprice belongs to workers and trade unions and NTUC profits are given back to Singaporeans who buy its shares,”

    “I notice that there is no central warehouse for LAKSATHOSA! You need to establish central logistics,”

    Das had asked to send a study team from sathosa to Singapore for a NTUC Fairprice training.

    “We’ll do this for Sri Lanka. Singapore is pleased to support LAKSATHOSA.” He added.

    Since it was founded by the labour movement in 1973, NTUC Fairprice today sells more than 2000 house-brand products across 120 outlets in Singapore serving more than 400,000 shoppers daily.

    However in June the industry and commerce ministry said the Lanka Sathosa, will be given a 7.5 billion rupee bail out from the treasury and audit firm  KPMG has been appointed to look into ways of re-structuring it.

    “The Finance Minister Ravi Karunanayake had agreed to give 7.5 billion rupees from the treasury to keep the firm out of trouble,” Rishard Bathiudeen, Minister of Trade and Commerce said in June.

    “Lanka Sathosa owes 10 billion rupees to two state banks and three billion rupees to suppliers and we are facing problems to keep it profitable,”

    “KPMG is expected to find ways to sustain Lanka Sathosa in a profitable manner.”

  • Hamleys Vietnam sets opening date

    Hamleys Vietnam sets opening date

    Hamleys Vietnam will stage a mobile roadshow around the shopping centres and schools of downtown Ho Chi Minh to help build brand awareness ahead of the store’s Vietnam debut.

    Hamleys Vietnam will open its doors on October 21 in the recently opened SC Vivo City mall in District 7, a popular expat enclave.

    Hamleys, the world’s oldest toy shop established in 1760, announced in June it would open its first store in Vietnam. It promises to be the largest toy shop in Vietnam when it opens its doors to the general public, with a character parade and ceremony at 7pm.

    In the lead up to the opening, Hamley Bear will be touring the city in a specially marked red minibus, visiting international schools, shopping malls, and other areas. The tour will be held from October 9 to 10, and 16 to 17.

    In addition to the Hamley Bear visits, there will be a competition on social media to a win prize and exclusive tickets to the VIP and media event, taking place from 5.30pm on October 21 at SC VivoCity.

    Nina Komolova, Hamleys’ PR and marketing manager says the London Bus Tour will bring excitement to families in advance of the store’s opening.

    Hamleys Vietnam

    Wee Keng, general director of SC VivoCity said with Hamleys’ tradition internationally of lively store demonstrators, strong brand identity and immersive environment, the new store will take VivoCity’s concept of a one-stop family lifestyle destination mall to a new level.

    In Hamleys Vietnam, shoppers will step into a magical toy wonderland that is stocked with thousands of safe, quality approved toys ranging from the traditional to the high-tech, games and puzzles to arts and crafts, magic, the Luvley Boutique – where children will find a selection of hair and nail products to dress themselves up with – and of course the iconic Hamleys Teddy Bears.

    Hamleys’ unique approach focuses on ‘bringing toys to life’ for children and families by actively encouraging children to play with the toys in store or by engaging with toy demonstrators.

    Hamleys Vivo city

    Memories underpin the essence of the Hamleys brand – customers will be able to meet the Hamleys Bear, characters from television and film on special occasions and participate in interactive workshops and events.

    The Hamleys Vietnam franchise is owner by Maison Joint Stock Company, founded in 2002 by Richard Trinh and Mai Son Pham. The company operates 61 stores in Vietnam selling brands including Christian Louboutin, Topshop/Topman, Miss Selfridge, Dorothy Perkins, Max Mara, Max & Co, Mango, Karen Millen, Coast, Warehouse, Oasis, Bebe, Charles & Keith, Pedro, Accessorize, Monsoon Children, Havaianas and NYS Sunglasses. It will soon open the nation’s first CH by Carolina Herrera and Santoni stores.

  • Ikea Malaysia sets Cheras opening date

    Ikea Malaysia sets Cheras opening date

    Ikea Malaysia says its second store located at Jalan Cochrane, Cheras. is on track to open at the end of November.

    The timing was revealed at the store’s roof capping ceremony, a Swedish tradition to celebrate the end of construction and thank neighbours who helped out in the building phase.

    “Come November, Ikea Cheras will provide more Malaysians with Swedish home furnishings that are well-designed, functional, affordable and good quality,” said Mike King, retail director, Ikea Malaysia, Singapore and Thailand.

    “The new Ikea store is part our overall ambition to expand in Southeast Asia. Our entry into Cheras neighbourhood reflects our vision to create a better everyday life for the many people.”

    Ikea Cheras will provide Malaysians with greater convenience and a wide selection of home furnishing inspiration and solutions at incredibly low prices. The store has 41,000 sqm of shopping space, 20 per cent more than the Damansara store. Ikea Cheras is also located a five minute drive from the city centre, accessible from MAJU Expressway and Smart highways, and connects to the Cochrane MRT station (to be completed in 2017).

    As the opening fast approaches, the team is now in the midst of interior fittings, operational setup and co-workers’ training. To support its overall operation, a nationwide recruitment exercise was carried out recently.

    “We had an overwhelming response of which we hired a great mix of over 300 co-workers of various talent and expertise. With the passionate and committed co-workers we have on-board, this new store ensures more Malaysians will get a chance to enjoy the unique Ikea store experience many have come to know and love,” added King.

    Ikea Cheras will be one of the first few retail developments to be ready in the booming township. The new iconic landmark spots the potential in transforming Cheras into a vibrant retail destination, drawing upon the liveliness Ikea brings to Mutiara Damansara with its standalone store since 2003.

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  • Where Muslim tourists shop

    Where Muslim tourists shop

    Muslim tourists spent $62 billion shopping and dining last year – and Asia got a huge share.

    Malaysia and Singapore were the second and third most popular shopping destinations for Muslim tourists last year, lagging behind only Dubai, according to the MasterCard-CrescentRating Muslim Shopping Travel Index 2015 just released.

    Fourteen cities from Asia Pacific made it onto the overall list of 40 destinations.

    The research shows shopping expenditure by Muslims in 2014 amounted to $36 billion, while dining expenditure amounted to $26 billion

    The MTSI 2015 looks at in-depth data covering Muslim travel shopping from 40 international cities creating an overall index, based on a number of criteria. It is the first time detailed insights have been provided on the consumer spending behaviour of Muslim travellers.

    The MTSI 2015 is the latest research collaboration between MasterCard and CrescentRating on this sector following the launch of the Global Muslim Travel Index (GMTI) 2015 earlier this year.

    “The MasterCard-CrescentRating Muslim Travel Shopping Index is a fascinating insight into the shopping habits of Muslim consumers and will prove to be an invaluable tool to the entire sector,” said Fazal Bahardeen, CEO of CrescentRating & HalalTrip.

    “The research looks at two of the most important expenditure components of Muslim travellers which are shopping and dining. The index reveals how important Asia Pacific is to the sector and the vital contribution they are making.”

    The 40 international cities covered in the MTSI 2015 were scored against a comprehensive set of metrics which included suitability as a shopping destination, Muslim friendly services and facilities and ease of travel. Each criterion was then weighted to make up the overall index score.

    Dubai topped the ranking for overall Muslim Travel Shopping with a score of 79.5 followed by Kuala Lumpur with a score of 73.3.  Singapore scored 71.6 on the Index making it the number one ranked city from the non-OIC countries and third in the overall list.

    Bali also made into the top 10 scoring 58.2 closely followed by Penang with 56.9. In total, Asia Pacific contributed 14 cities to the overall top 40 list.

    A significant highlight of the MTSI 2015 was the high number of non-OIC countries featuring in the top 40 list.

    Singapore, secured a rank among the top five overall destinations for Muslim traveller shopping.  This further revealed the potential for non-OIC destinations, with 25 on the list, to attract Muslim travellers by proactively catering to this segment.

    Earlier this year, the GMTI 2015 showed that in 2014, the Muslim travel segment was worth $145 billion with 108 million Muslim travellers representing 10 per cent of the entire travel economy.

    This is forecasted to grow to 150 million visitors by 2020 and 11 per cent of the market segment with a market value projected to grow to $200 billion.

    MTSI 2015 will be updated on an annual basis and will feature more cities in future releases.

    “The MTSI 2015 provides a deeper look at two key components of the traveler consumer experience – shopping and dining. We see this as an important resource not only for us to better understand this significant and fast-growing traveller segment, but also a source of data that will inform and support the efforts of our partners in the travel industry,” said Matthew Driver, group executive, global products and solutions, Asia Pacific, MasterCard.

    Shopping chart

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