Chinese consumers intend to spend 11% more to shop online during this year’s holiday season, a survey by Visa International said. They will fork out an average of US$822 in spending this year, the biggest increase among eight markets in Asia Pacific, including Japan, Singapore and Australia.
Half of Chinese shoppers interviewed said they plan to buy from overseas and domestic websites, and an increasing number of shopping sites are realizing the importance of the Chinese market. Online shoppers opt for clothing as the most popular intended purchase followed by shoes and cosmetics.
Australia - Cheer for Australian retailers in Boxing Day sales
Source: The Jakarta Globe, 29 December 2011
Tens of thousands of Australian shoppers hit department stores Monday for the annual Boxing Day sales, with ailing retailers hoping to ring up Aus$1.7 billion (US$1.73 billion) in purchases. Australia's resources-driven economy is not in recession and boasts low unemployment but with uncertainty growing Australians have become much more conservative consumers, saving at a rate not seen for 20 years.
Australians failed to spend big in November and December, despite interest rate cuts in those months bringing relief to mortgage holders, while the high Aussie dollar has also hurt retailers. But on Monday shoppers snapped up electrical items, homewares and new clothes, and younger consumers hunted for heavily discounted designer fashion items.
India - Indian fashion retailers tread the catwalk with care
Source: The Hindu Business Line, 28 December 2011
Mumbai-based fashion retailers are bracing themselves for tough times ahead. Fashion retail brands are not too enthused with their performance this quarter.
Kewal Jain, chairman and managing director of Kewal Kiran Clothing, says "It has not been a feel good quarter for us. With 10 percent increase in excise duty, we have had to take price increases by almost 25 percent and this has affected our volumes. While there has been no de-growth in the company as yet, we have to maintain the growth momentum. Footfalls are already down at the retail level."