Cosmetics seller Sa Sa International is making a comeback to some of Hong Kong's prime shopping districts where it can secure big rental discounts, after the retreat of luxury brands amid a softer retail market.
Alibaba wants to serve 2 billion consumers and create 100 million jobs over next 20 years, according to statement ahead of annual shareholders meeting
The global retail industry will see a radical change over the coming years when e-commerce activities evolve further, turning what’s cutting edge now into the “traditional business” of tomorrow, according to Jack Ma, founder of the world’s largest online shopping platform Alibaba Group.
Hong Kong’s graft-buster has warned of increasing risks of malpractice and corruption in the city’s retail sector amid intensified competition in the current economic downturn.
Retailers expect lackluster sales to persist during the Lunar New Year holiday next month and remain pessimistic about the full-year outlook, the Hong Kong Retail Management Association said.
U.S. retail sales are expected to see the highest growth since 2011 this year boosted by an improving economy, an industry forecast said on Thursday.
Hong Kong's Census and Statistics Department announced Tuesday that the value of the city's total retail sales decreased by 9.8 percent year on year to 38.8 billion U.S. dollars in April.
The total retail sales value in May, provisionally estimated at 40.6 billion HK dollars, rose 12.8 percent over a year earlier, Hong Kong Census and Statistics Department said Tuesday.
Hong Kong's total retail sales value in November 2012 rose 9.5 percent over a year earlier, the city's Census & Statistics Department announced Thursday.
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