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Overseas online sales to generate £28bn for British retailers by 2020

Online sales generated by UK retailers from international markets are expected to generate £28 billion by 2020, according to new research released on Tuesday. The report, by OC&C Strategy Consultants in collaboration with Google, predicts that international online sales will soon outpace domestic ones to make up 40 per cent of total online sales by 2020.

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Reiss to expand into India with Reliance Brands
Photo credit: Reiss

Reiss is set to open five to seven stores in India over the next three years, under a new deal with Mumbai-based retailer Reliance Brands. According to the Times of India, the long-term franchise agreement will see Reiss join a number of international labels in Reliance Brands' portfolio, which includes Diesel, Kenneth Cole and Zegna.

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Hong Kong’s Causeway Bay knocks New York’s Fifth Avenue off most expensive retail spot
Photo credit: Toby Oxborrow

Yee Wo Street crossing on Hong Kong's Causeway Bay. After 11 years as the world’s most expensive retail area, New York’s Fifth Avenue has been overtaken by Hong Kong’s Causeway Bay, according to a survey by Cushman & Wakefield. According to the real estate firm, the Causeway Bay shopping area saw rent rates rise 34.9 per cent from a year earlier to an annual USD 2,630 per square foot.

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Waitrose market share at all time high
Photo credit: Waitrose Press Centre

The latest figures from Kantar Worldpanel show Waitrose’s market share stands at an all time high of 4.5 per cent of the grocery sector. During the 12 weeks to the 19 February, Kantar Worldpanel found the grocery market grew 4.5 per cent, broadly in line with its performance over the past six months.

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HTC forced to slash revenue forecasts by 20%

HTC, the world’s fifth-largest smartphone group by sales has cut its revenue forecasts, citing a slowdown in the global economy and increased competition sending its shares to their lowest level in 16 months. The Taiwanese smartphone maker reduced its forecasts about 20 per cent for the key fourth quarter of the year, announcing it expects no growth compared to the same period last year, when revenues were TWD104 billion (GBP 2.19 billion).

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Cashmere at dawn as Uniqlo celebrates Regent St relaunch

Fans of the Japanese label will have to be quick off the mark tomorrow morning, as news that it will be giving away free products to celebrate the relaunch of its Regent Street store spreads across the fashion world. The first 100 people in the queue outside its store will each receive a free cashmere scarf, with the first 200 receiving a free breakfast and the first 400 a limited edition tote bag.

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India, China and Brazil have more wealthy families than Europe

India, China and Brazil have now overtaken many European countries in a new report measuring consumer wealth from research firm TNS. According to the firm’s ‘Global Affluent Investor’, India, China and Brazil each has more than three million affluent households with over USD 100,000 in funds for investments.

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London mayor Boris Johnson attended the opening of M&M’s World yesterday, a 35,000 sq ft store dedicated entirely to the chocolate brand.

Boris told press the store, which spans four floors, was ‘sure to become one of the capital’s tastiest attractions.’

The £10 million outlet will feature toys, games and attractions as well as a 1963 London double-decker bus and a Union Jack made of M&Ms. Visitors can make their own sweets with chosen colour blends as well as having photos with M&Ms characters.

The shop will be the first of its kind in Europe, following similar store designs to those in New York, Orlando and Las Vegas. Susan Saideman of Mars, which makes the sweets, said the store was a ‘totally unique shopping experience’.

M&Ms World will become yet another example of the growing trend for retailtainment as covered in My Retail Media’s weekend report, which you can read here.

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Shop inflation is now at its highest rate for more than two and a half years according to the British Retail Consortium (BRC).

The UK has been hit with even higher prices for food, rising by 5.7 percent in June making it the fastest increase in the overall index since 2008.

The report by the BRC cited surging world commodity prices along with a weak pound and high VAT for the shop inflation, and noted that all factors were now outside of retailers’ control.

But as soaring food prices become old news, British consumers are altering their spending patterns to absorb the price changes.

Now 39 percent of grocery spending is devoted to goods on promotion, as, according to the BRC, "savvy shoppers are taking advantage to minimise the impact on real-life bills”.

Mike Watkins, senior manager of retailer services for Nielsen, who compiled the survey with the BRC, said: "With shoppers indicating that they are becoming even more cautious about spending, this will impact discretionary spend further so all retailers will have to keep a focus on managing any cost price increases over the next six months."

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The world's largest puzzle, a 32,256 piece celebration of the late artist Keith Haring's work, is set to make its American debut at the New York Toy Fair, taking place from February 13-16.Weighing in at 19.05 kg (42 lbs), the 5.18x1.8 meter (17x6 foot) puzzle captures 32 of Haring's images and features the artist's signature. The puzzle, made by Ravensburger, even comes with its own cart to help carry it away.  Read full story on Indpendent

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