News

‘Decades of pain’ ahead, warns Jack Ma

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(Source: Inside Retail Asia | 25 April 2017) Society should prepare for decades of pain as the internet disrupts the economy, warns Alibaba Group Holding chairman Jack Ma. He told an entrepreneurship conference in Zhengzhou that the world needed to change its education systems and establish how to work with robots to help soften the blow caused by automation and ...

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SM Prime Southeast Asian expansion plans afoot

mall

(Source: Inside Retail Asia | 24 April 2017) SM Prime Southeast Asian expansion plans are imminent, judging by a chance interview with the company’s chairman. The Philippine property company already operates 60 malls in its home market and a growing portfolio in China, currently standing at seven. A foray into Southeast Asia has long been whispered and shareholder expectation rose ...

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What Asian online shoppers want…

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(Source: Inside Retail Asia | 19 April 2017) Four in five Asian online shoppers who bought last year plan to make at least one more purchase in the first half of this year. The repeat business trend is led by emerging markets including China (97.3 percent), Vietnam (96.2 percent), India (92.9 percent), Malaysia (92.8 percent) and Thailand (87.1 percent), according ...

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Ayala Land launching three developments

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(Source: Inside Retail Philippines | 21 April 2017) With expectations of sustained economic growth in the Philippines, Ayala Land plans to launch three mixed-use developments this year. The developer’s township developments are usually anchored by an Ayala mall. The three new estates are the 250ha Evo City in Kawit, Cavite; the 25ha Azuela Cove in Davao City in a JV ...

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Younger buyers seen as key for luxury industry

Women Shopping

(Source:  Inside Retail Philippines | 13 April 2017) The younger generation will be key for the luxury industry in the next decade as it enters a “new normal” characterized by lower growth, new research shows. To find success, brands will need to refocus on their customers to better anticipate and cater to their needs, according to US global consulting company ...

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DTI cuts bureaucratic red tape on SRP setting

Photo from: gonegosyo.net

(Source: DTI.gov.ph) Department of Trade and Industry (DTI) Secretary Ramon Lopez on April 5 convened the National Price Coordinating Council (NPCC) to closely evaluate the price and supply situation of basic necessities and prime commodities during the first quarter of this year. During the meeting, DTI discussed its stand to deregulate the setting of Suggested Retail Prices (SRP) on certain ...

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Korean food delivery app boom

Photo from: Koreabizwire.com

(Source: Inside Retail Asia/KoreaBiz Wire | 12 April 2017) Korean food delivery apps are experiencing a boom, driven by burgeoning demand amid the spread of the lone-eating trend and a rising number of single households, industry sources say. Baedal Minjok, a leading mobile delivery app run by local startup Woowa Brothers, raked in 84.8 billion won (US$74.8 million) in revenue ...

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DoubleDragon to raise P9.7 B from sale of bonds

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(Philippine Star | 10 April 2017) DoubleDragon Properties Corp., the listed property and mall developer of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods Corp. chairman Tony Tan Caktiong, is going back to the debt market this year with a plan to raise P9.7 billion from the sale of retail bonds. DoubleDragon chief investment officer Hannah Yulo said ...

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How Mariano Que built Mercury Drug with P100

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(Source: Rappler | 15 April 2017) From a wooden pushcart to 1,000 stores nationwide, the late Mariano Que peddled pharmaceutical products for Filipinos for over 7 decades, leading to the creation of the country’s largest drug store chain, Mercury Drug Corporation. He was not born rich like other successful entreprenuers. Que came from humble beginnings. As a survivor of World ...

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US retail sales, consumer prices slump in March

FILE PHOTO: A shopper passes a "Sale" sign at Quincy Market in downtown in Boston, Massachusetts, U.S. January 11, 2017.   REUTERS/Brian Snyder

(Source: GMA News online/Reuters | 14 April 2017) US retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, supporting views that the economy lost significant momentum in the first quarter. The Commerce Department said retail sales dropped 0.2 percent last month after a 0.3 percent decrease ...

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