…line retail rival JD.com has been more aggressive, partnering with developer China Overseas Land to open hundreds of staffless stores across China in December. Offline retailers have also joined the human-free stores race, with retail behemoth Suning opening its first self-service store in Nanjing last August. The company announced plans to open three more in Beijing, Chongqing and Xuzho in November….
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Alibaba Inks Deal With Five of China’s Top 10 Developers to Expand Hema Supermarkets
…in as little as 30 minutes to customers living with three kilometres of a store location. The scan to buy system promises to provide shoppers with information on food origin and other details for items where these backstories are available. Hema also leverages Alibaba’s big data expertise to log customer purchase information to help shoppers build their own personalised product pages in the grocery chain’s app. In a blog post on a company website…
Parkson Closes Beijing Shop as Department Stores Stagger
…n China Parkson which was a pioneer foreign investor in China’s department store sector lists 57 stores in 37 cities on its website, but that number maybe heading south after the Malaysian-based chain’s Chinese operations reported eight percent lower same-store sales and 34.3 percent lower net profits during the first quarter of this year compared to the same period in 2013. The upper mid-market department store operator opened its first China sto…
Sanpower Selling House of Fraser After Launching Just Two Stores in Four Years
…st, making it the largest shareholder in one of China’s top ten department store chains. Nanjing Xinjiekou Department Store has outlets in eastern China’s Jiangsu and Zhejiang provinces. House of Fraser opened its Nanjing flagship at the end of 2016 House of Fraser debuted in China in December 2016, with the opening of a 425,000 square metre flagship store in Nanjing, capital of Jiangsu province — nearly a year behind schedule. A second outlet fol…
Henderson Land Buys Four HK Department Stores from FamilyMart Uny for HK$300M
…veloper’s Henderson Investment Limited arm has its own flagship department store, Citistore, which operates six branches, five of them located in residential districts in the New Territories far from the city centre. Citistore’s profit after tax in 2017 fell by 24 percent to HK$74 million ($9.4 million), despite the company’s “relentless efforts in raising efficiency and controlling operating costs,” according to Henderson Land’s latest annual rep…
Ant Financial Backs Staffless Store Chain Xingbianli and More Asia Real Estate Headlines
…ead on for all the details. Ant Financial Invests in Staffless Convenience Store Chain Chinese checkout-free convenience store operator Xingbianli has completed a new round of multi-million yuan financing despite reported cost-saving measures, including job cuts. It shows investors’ confidence in unmanned retail stores in a fast-growing market as Alibaba Group Holding’s financial affiliate Ant Financial Services Group led the latest round of fundi…
Omnichannel Retail is Coming to Hong Kong, But Don’t Expect Lower Rents Says JLL
…s, some of our clients start to worry that the demand for brick and mortar stores will diminish once Hong Kong’s online retail takes off,” said Denis Ma, Head of Research at JLL in a press conference held in Hong Kong. According to the report, some 90 percent of the city’s landlords believe online sales will grow over the next five years. However, despite a spate of cut-rate lease deals in a number of the city’s top retail locations, that may not…
Wanda Testing New O2O Platform with Tencent, Baidu
…as across China will help them gain traction with the country’s consumers. Order Online, Pick Up at Your Neighborhood Wanda Plaza Dining figures prominently on the Ffan website According to a statement from Wanda, online shoppers will be able to order goods on Ffan and then pick them up at any of the company’s more than 90 department stores nationwide. Right now the service is still in trial mode, and later the three companies plan to expand the p…
Alibaba Buys Intime Dept Store Chain in $2.6B Deal and More Asia Real Estate Headlines
…online real estate agency. Read on for all these stories and more. Alibaba Buys Intime Dept Store Chain in $2.6B Deal Alibaba Group Holding Ltd. said it would team up with the founder of China’s Intime Retail (Group) Co. to take the department-store operator private, as the e-commerce giant seeks to extend its online dominance into physical stores. China’s largest online retailer and Intime’s founder, Shen Guojun, will pay as much as 19.8 billion…
Third Apple Store In Beijing to Open In Wangfujing – and more of Today’s China Real Estate Links | October 17, 2012
…ll that has been there for over 800 years. This will the the third retails store in Beijing, China, and it’s said that it will be the largest Apple store in Asia. It will join over 200 other shops in the shopping destination center about a mile from historic Forbidden City and Tiananmen Square. The store should occupy a corner building of the historic shopping area, according to website MIC Gadget, and will take up the bottom half of the building…