April Wu

China Market Strategy

December 13, 2016

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Retail News Roundup – Dec 13

The top 5 retail news clips in Asia this week.

1 – Faster frappuccinos in China as Starbucks joins WeChat payments

Starbucks Corp. said it will accept the WeChat payments system at about 2,500 of its cafes across China, enabling customers to complete purchases with a scan of their phone. The agreement with Tencent Holdings Ltd. means the Seattle-based chain joins foreign retailers, including KFC, Disney and Uniqlo, in embracing the cashless mobile payments ubiquitous in China. >>

2 – German wholesaler Metro shifts to new store model in China as land prices rise

In a bid to stay competitive in a fast-changing market, the retailer is changing its approach to store ownership. >>

3 – Nitori to speed up China store openings

Nitori Holdings, the Japanese furniture and home accessory retailer, will expedite store openings in China in an effort to kick-start its global expansion, company sources said. >>

4 -Target China learning fast as it gains momentum

Target China is continuing to learn about the vast mainland market as it builds brand awareness in the region in preparation for a major push. >>

5 – Worldpay predicts credit-card decline

Credit-card use in Singapore is set to fall by 40 per cent in less than five years, according to new research from global payment company Worldpay. >>