Retail News CRM

Tag: Beijing

  • CapitaLand Retail China reports bumper quarter

    CapitaLand Retail China reports bumper quarter

    CapitaLand Retail China Trust has had a bumper quarter to September, its distributable income rising 14.2 per cent year on year.

    CRCT is the only China shopping mall Real Estate Investment Trust (REIT) based in Singapore, with a portfolio of 10 shopping malls located in Mainland China.

    CapitaLand Retail China Trust Management, which manages CRCT, says it achieved a distributable income of S$22.3 million for the period. Distribution per unit (DPU) was 2.64 cents, an increase of 12.3 per cent over a year ago.

    Chairman Victor Liew said China’s economy expanded 6.9 per cent year on year in both the third quarter and the first nine months of 2015, while retail sales in the first nine months of 2015 increased 10.5 per cent to RMB21.6 trillion.

    “With the Chinese government reiterating its commitment to rebalance its economy by driving domestic consumption, CRCT remains upbeat about China’s retail growth prospects.”

    CEO Tony Tan, CEO of CRCTML, said that during the quarter, the trust’s portfolio of malls registered 9.1 per cent growth in net property income as it benefitted from a favourable exchange rate.

    “Rental reversion for the quarter continued to be strong at 10.9 per cent, with the majority of our malls registering double digit growth. Portfolio occupancy as at 30 September 2015 was 94.8 per cent, while tenants’ sales and shopper traffic for the quarter increased 12.7 per cent and 2.4 per cent respectively year-on year.”

    The trust’s malls are CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Grand Canyon, CapitaMall Shuangjing and CapitaMall Anzhen in Beijing; CapitaMall Qibao in Shanghai; CapitaMall Erqi in Zhengzhou, Henan Province; CapitaMall Saihan in Huhhot, Inner Mongolia; CapitaMall Wuhu in Wuhu, Anhui Province; and CapitaMall Minzhongleyuan in Wuhan, Hubei Province.

    “We continue to refresh and improve the trade mix within our multi-tenanted malls,” said Tan.

    “CapitaMall Xizhimen is adding more children-related products and services to cater to growing demand from young families with children. A section of the mall’s Level 3 will be reconfigured into a vibrant kids’ zone and new tenants catering to the varied needs of children, such as apparel stores and enrichment schools, will be added.

    “On the asset enhancement front, CapitaMall Wangjing will be commencing upgrading works to its façade in the coming months, and CapitaMall Grand Canyon is currently undertaking renovation works to improve its common amenities. All these initiatives will further enhance the overall appeal and shopping experience at our malls.”

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  • Beijing retail sales rise

    Beijing has reported a rise in retail sales during the week-long National Day holiday that began last Thursday.

    Chinese government news agency Xinhua reports both locals and tourists have “spent heavily” on consumer goods.

    During the first six days of October, Beijing’s 100 leading retailers reported a total sales revenue of 5.3 billion yuan (about US$833.7 million), up 6.2 per cent on the same period of last year, according to figures released by Beijing Municipal Commission of Commerce.

    The figures were collected from Beijing’s major retail outlets including shops, supermarkets and restaurants, it said in a press release.

    Many avid shoppers took advantage of the National Day promotions offered by most retailers to buy winter clothing and the latest models of smartphones and other digital products.

    While housewives flooded supermarkets to buy food for their family feasts, many others chose to dine at some of the city’s most famous restaurants.

    A surge of customers from locals and sightseers has brought an average 10 percent increase in revenue at these restaurants, according to the municipal commission of commerce.

    It said the Golden Week has witnessed a 20 per cent surge in gold and jewellery sales, as the holiday week is also a prime time for weddings.

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  • Marks & Spencer to slow China expansion

    Marks & Spencer to slow China expansion

    UK department store chain Marks & Spencer says it will slow its expansion plans in Greater China due to the economic and political turmoil in the two markets.

    The British retailer currently has 20 stores in Hong Kong and 10 in China and had been planning significantly more.

    Back in 2014, CEO Marc Bolland set a target of opening 250 new overseas stores within three years – an ambitious goal even in favourable economic climate.

    This week, M&S’s executive director of marketing & international Patrick Bousquet-Chavanne told news agency Reuters in an interview that while the company remained committed to both markets, the 2014 targets were unreachable.

    “The world has shifted, is a different place… The Syrian situation was very different from what it is today… Putin had not invaded Ukraine and China was growing at close to nine per cent,” he said.

    “It’s reasonable in that context that you would expect a different outlook on the next three years for the company.”

    Last March M&S said it would close five underperforming stores in China to focus on flagship stores and online – and expanding its food offer in Hong Kong.

    He told Reuters M&S still planned a Beijing flagship store during the 2015-16 financial year and that it still planned to open in the cities of Guangzhou and Dalian, but gave no timetable.

    He said the company had seen a softening in its store sales in China as the economy slowed, but no dramatic effect.

    “The sectors in which we trade are not luxury, so we haven’t seen the same dramatic slowdown as some might have,” Bousquet-Chavanne said.

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  • Tmall.com launches massive grocery campaign

    Tmall.com launches massive grocery campaign

    Tmall.com has launched a RMB 1 billion (US$161 million) online grocery promotional campaign targeted at Beijing users.

    The Alibaba eCommerce subsidiary has teamed up with Cainiao, the logistics affiliate of Alibaba Group, to offer same-day delivery services to Beijing city residents.

    Online grocery shopping is a rapidly growing eCommerce segment and a strategic area of interest for Alibaba Group. The convenience of online grocery shopping has already drawn in millions of users. According to Kantar Worldpanel, China’s FMCG (fast moving consumer goods) eCommerce penetration rate was 36 per cent in 2014, while McKinsey says 40 percent of Chinese consumers have bought food online.

    Tmall Supermarket will run its promotion three times a day, allowing Beijing-based Internet users a chance to win ‘red packets’ that subsidise their grocery purchases. The promotion will end on July 31.

    Beijing residents who order from Tmall’s supermarket before 11 am will be eligible for same-day delivery service. In the future, Tmall Supermarket and Cainiao plan to roll-out same-day delivery services to Shanghai and other Chinese cities.

    Jeff Zhang, president of Alibaba Group’s China Retail Marketplaces, said Tmall Supermarket will draw on Alibaba Group’s complete eCommerce ecosystem – including Alibaba’s advantage in logistics, strength in online payments, big data and cloud computing, to bring consumers the most convenient and secure online shopping experience for quality products.

    Tmall Supermarket was established in 2012 and provides a one-stop shopping solution for Chinese users looking to purchase authentic food products, cosmetics, beverages, snacks and imported items. In the past year, Tmall Supermarket’s Beijing area GMV soared more than 700 per cent with 90 per cent of consumers shopping on their mobile phones.

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  • Lafayette Gourmand China opens first flagship

    Lafayette Gourmand China opens first flagship

    French division retailer retailer Galeries Lafayette has opened its first Lafayette Gourmand China meals retailer – in Beijing.

    Lafayette Gourmand is actually a luxurious meals corridor serving meals to eat on website or take house.

    The flagship has a grocery store stocked with French gourmand meals and a 7000 sqm eating space that includes greater than 10 eating places serving worldwide cuisines. An estimated 80 per cent of the meals bought on website is imported from France.

    The shop is situated on the fifth flooring of the Galeries Lafayette division retailer, the corporate’s excessive profile debut property in China.

    Lafayette Group division retailer division government president Nicolas Houze just lately hosted a gap ceremony for the brand new foodie vacation spot.

    Based on China Retail News, the brand new gourmand retailer is the most important French imported meals specialty retailer within the Chinese language capital.

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