The Chinese consumer is evolving. Key trends are shaping the consumer landscape in China, which means consumers will look, feel, and act different from today.
Making its first foray into Asia, Hennes & Mauritz AB’s upscale brand COS opened a 6,000-square-foot store in Hong Kong late June. COS is joining other international retailers such as Coach and The Gap in the prime Central area.
Next up, Beijing. Plans are underway for a 4,300 square-foot store at the Parkview Green, a mall and hotel in Beijing’s central business district. The store will carry the entire COS collections.COS, which is short for Collection of Style, is a unisex brand with a design aesthetic that is modern, clean, and classic. The brand philosophy favors style over fashion trends.
A new retail report by Jones Lang LaSalle emphasises that changes across the global retail banking environment continue to be driven by political, economic and technological trends. These trends will lead to continued bank expansion in frontier markets, offsetting the search for greater efficiency in developed markets. The report, Global Retail Banking: Key Trends for Retail Estate, identifies that changes in global retail banking will be fuelled by increasing customer demand for innovation, flexible service capability and banks actively managing their brand’s presence in a retail environment.
Convenience stores will see their Shanghai market share rise faster than big supermarkets, an industry research shows. FamilyMart, the Japanese retailer, will almost double its market share to 7.9 percent, while Hong Kong-based Watson may also expand 2.6 percent, according to a research report released by TNS Global. Bigger retailers like Carrefour and Tesco may find their profits eroded as shoppers develop brand loyalty to convenience stores, it says.
A couple weeks ago we took a look at how Burberry stacked up to China’s retail market potential. This week, we give you hypermarkets. Although they faced many challenges, they’ve come a long way since we took an in-depth look at hypermarkets in 2010. If you’re interested in learning more about hypermarkets or other key retailers in China and Asia, feel free to reach out to us.