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Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan

Suning.com, a Chinese electronics retailer and e-commerce giant, has agreed to buy an 80 per cent stake in the Chinese operations of French supermarket retailer Carrefour SA for 4.8 billion yuan (US$699 million) in cash, reflecting how digital technologies continues to redraw the consumer landscape in the world’s second largest economy.Suning said in a filing to the Shenzhen Stock Exchange on Sunday evening that Carrefour will retain a 20 per cent share in the businesses and two out of seven… Source link

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China 

US retail group says extra tariffs on Chinese goods will cost Americans US$18 billion a year

US trade group the National Retail Federation has called on Washington not to impose additional 25 per cent tariffs on US$300 billion of Chinese goods, saying they would cost American consumers US$18 billion a year.That’s according to the results of the federation’s study released on Friday, ahead of next week’s meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the Group of 20 summit in Japan.The study looked at key product categories for Chinese imports,… Source link

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Chinese terminal operator Rizhao Port Jurong’s shares skyrocket in Hong Kong trading debut after retail investors rejected them

Shares of Rizhao Port Jurong, a spin-off of one of China’s largest port operators, skyrocketed by 167 per cent on their Hong Kong trading debut on Wednesday – even after selling just a quarter of its retail shares.The stock soared by 267 per cent to HK$5.5 from its offer price of HK$1.5 at one point in the afternoon, before falling back to end the session at HK$4. The company raised a total of HK$546.7 million (US$69.8 million) of capital through the listing.The stunning debut performance is in… Source link

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“Omni-Channel Retail” emerges as new shopping experience

[Sponsored Article] In the digital era, technology is shaping our urban environment and business systems, transforming industries and leadership, and changing the way we interact, experience and live. Today, online shopping has no doubt become part of our daily lives. But still, consumers are facing a dilemma – not sure about sizing when shopping online, but it is a hassle to go to the shops. To answer this, “Omni-Channel Retail” has emerged as the new shopping experience in recent years.  … Source link

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Vietnam 

Convenience retail channel hits record growth rates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers shop at a convenience store in HCM City. Photo sggp.org.vn HCM CITY — As consumer demand for convenience soars across Southeast Asia, convenience retail channels are experiencing record growth rates and higher rates than any other retail channel, according to a new study by global measurement company, Nielsen. What’s Next for Southeast Asia, which explores the changing FMCG retail landscape and consumer needs, highlights that FMCG sales growth in convenience stores across Southeast Asia reached 8.3 per cent last year. Malaysia saw the strongest growth in the region (up 17 per…

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Vietnam 

Total retail sales hit $85 billion in five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Shoppers buy fruit at a Co.op mart Supermarket in HCM City. The nation’s total retail sale of goods saw a year-on-year increase of 12.7 per cent in the first five months of this year. — VNA/VNS Photo Thanh Vũ HÀ NỘI — Total retail sales of goods and services in the first five months increased 11.6 per cent year-on-year to VNĐ19.8 quadrillion (US$85 billion), according to the General Statistics Office (GSO). Excluding inflation, the growth was 8.6 per cent in January-May, 0.1 per cent higher than the same period last year. During the first…

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China’s Meituan Dianping narrows losses, pushes forward grocery retail initiatives

Chinese food delivery services giant Meituan Dianping plans to continue its foray into China’s grocery retail sector, despite closing a number of its Ella supermarkets in the first quarter of this year, as it ratchets up competition with Alibaba Group Holding.Beijing-based Meituan said it was “disciplined on capital allocation for our new initiatives”, according to a regulatory filing in Hong Kong on Thursday when it posted better-than-expected earnings for the quarter ended March.“With our… Source link

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Vietnam 

Auchan retail chain to leave Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI — French supermarket group Auchan Retail had decided to sell 18 loss-making stores in Việt Nam, vietnamplus.vn cited CEO Edgar Bonte as saying. Those outlets generated 45 million euros (US$50.4 million) in revenue in 2018 but still suffered losses. The French group entered Việt Nam in 2015 and has developed a total of 21 stores in the country. After the closure of three outlets, it now has 18 left, 13 of which are in HCM City, four in Hà Nội and one in the southern province of Tây Ninh. Auchan is now negotiating with different…

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McDonald’s makes hay while the sun shines, selling its TST premises for HK$1 billion as trade war crimps retail property prices

The US fast food giant McDonald’s is seeking to sell a prime street level shop in Hong Kong worth HK$1 billion (US$127.4 million), 15 times the HK$66 million it paid 30 years ago, but property agents say that very few investors will be willing to make such a huge investment in the current economic environment.McDonald’s is seeking tenders for a 4,260-square foot shop (396 square metres) at Star House on Salisbury Road in Tsim Sha Tsui, currently occupied by the health and beauty chain Watsons,… Source link

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Chinese fintech firms cosy up to banks as collaborators instead of disrupters they shift towards retail banking

Chinese companies that are engaged in financial technology, or fintech, are increasingly collaborating with banks, some of them even helping banks acquire retail customers, as the financial institutions build out their digital banking services and technology.That is a fundamental shift from several years ago, when fintech companies enter the market with the aim of using digital technology to disrupt and disintermediate traditional banks from the financial business.Tighter regulations such as… Source link

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