Blog covering retail, fashion and marketplace trends and news.
Reprinted from Ameinfo.com
With events such as The Formula One Grand Prix on the docket, Abu Dhabi is rapidly emerging as a world-class tourism destination and is threatening to overtake Dubai as the top tourism hot spot in the UAE.
The capital of the UAE has long taken a back seat to Dubai on the tourist map, preferring to take a more low-key approach and focusing on business tourism rather than the leisure market. Read More
Posted in Industry News | No Comments »
by Devon Hill
Reprinted from channelnewsasia.com
Island resort Sentosa will soon be home to the world’s tallest duel roller-coaster ride and movie stars such as Marilyn Monroe, Shrek and the motley mob of Alex, Marty, Melman and Gloria last spotted in Madagascar,the movie.
The Universal Studios theme-park which will be housed on the 49 hectares Resorts World at Sentosa, revealed Tuesday its two dozen attractions, including 18 rides and attractions specially created or adapted for Singapore. Read More
Posted in Industry News | No Comments »
by Devon Hill
Reprinted from MTI-ECONEWS
Hungarian construction company TriGranit will spend EUR 1.5bn to build Europe’s biggest shopping and entertainment centre near Bratislava, TriGranit development director Simon Bayley said at a press conference in the Slovakian capital on Tuesday.
The 1.2m-square-metre shopping and entertainment centre, dubbed Metropolis, will have a water park, golf courses, hotels, casinos and cultural and conference centres, Mr Bayley said. Read More
Posted in Industry News | No Comments »
Reprinted from People’s Daily Online
Beijing is going to raise 50 billion yuan to build up Chinese Animation and Game City as China’s “animation Hollywood and Disneyland”.
Besides, Beijing will provide 100 million yuan each year as financial suport for the Animation city which is located in the former site of Shougang Group, China’s eighth largest steel maker.
In the 83-hectare area, the Animation city will include six major function areas such as theme park, trade management center, research and production center, business service platform, office building, hotel and living area.
At the moment, some online game companies have already entered the Animation city, such as sohugame and Linekong. Famous internet companies like Netease, Tencent and Giant are also listed on the business plan.
Beijing government vows to provide favorable policies on taxation, land development, infrastructure construction, financial support and talents recruitment.
By People’s Daily Online
Posted in Industry News | No Comments »
Reprinted from Orlando Sentinel
The ‘Sum of All Thrills’ uses robot-arm technology that Universal Orlando is also believed to be using for a new Harry Potter ride
Guests ride the Sum of All Thrills simulator ride at Epcot, during the grand opening of the attraction at Walt Disney World, Wednesday, Oct. 14, 2009. The giant robotic arm –the KUKA RoboSim 4-D Simulator– powers the riders’ experience, in which guests custom design their own thrill ride using math and science principles, and then ride the simulator. (JOE BURBANK, ORLANDO SENTINEL / October 14, 2009) Read More
Posted in Industry News | No Comments »
World Retail
Retailers are flocking to India thanks to an economy that is still growing and a young population increasingly becoming aware of major brands.
Worldwide sales declines among luxury retailers will likely continue through 2010 and into 2011.
Posted in Retail, Specialty Retail | No Comments »
Lego
Lego has opened its first concept store in Concord Mills, located north of Charlotte, NC. The 4,520 square foot store has been designed to create an interaction between children with on-site master builders. The store has room for birthday parties and classes.
Versace
Recently announced it was closing all thirty (30) of its stores in Japan.
New World
A new world is likely to emerge in which designers rebel against long lead times and where they take their collections directly to the consumer through their own boutiques, trunk shows, and over the web.
Web Sales
Web sales are projected to reach $156 billion in 2009, representing 6% of the total U.S. retail pie
The Web Fashion Consumer
Consumers have come to expect new merchandise more frequently, thanks to the web and fast fashion retailers such as H & M. Many cannot understand why they have to wait 6 months to see the fashions seen on the runways. Buyers at department stores generally base their orders on the past, while fashion editors gravitate to the most photogenic and future looking styles, leaving the consumer stuck in the middle. This results in one facet of the fashion industry looking forward and the other looking backwards. The consequence: a consumer on one hand is told what to buy but on the other, not where to buy it.
In response, a new generation of fashion retailers is emerging on the web where news is freely given and fashion is sold. Net-a-porter with average sales of $820.00 per transaction and customers from 170 countries is one example of this new generation of merchants. The company has successfully merged its web retail site with a fashion news site catering to a new consumer who wants credible news over magazine advertisements and the most up to date fashion now.
Entertainment
Families spent 5.1% more on entertainment in 2008 than in 2009, something that has surprised many economists. As consumers tightened their pocket books and wallets one would expect entertainment to be one of the first categories to see significant decreases. But the 5.1% increase in spending equated to 16.5 billion more dollars spent in the category over 2007.
Household debt
The American family is trying to put money into savings and reduce their overall debt, but they are clearly not faring as well as one might expect in this recession. Household debt now amounts to about 125% of after tax income.
High Net Worth Individuals
Luxury retailers are faced with a significant decline in Americans with a high net worth defined as having $1,000,000 of assets available for investment. In 2008 the assets of these individuals dropped by as much as 22%. The result is a major decrease in sales at retailers such as Neiman Marcus where sales have decreased by over 20% in 2009 over 2008.
Posted in Culture, Real Estate, Retail, Shopping Centers, Specialty Retail, Uncategorized | No Comments »
One of the first lessons I remember from my undergraduate anthropology studies is “ask how not why/what”. Many market research studies examine who buys what fashion and what are the fashion trends, but it fails to understand the underlining why. By asking how, you implicitly are requesting a story and not a simple answer. “Why” can often put individuals on the defensive leading to short abrupt answers, and does not actually reveal the why or motivation behind a decision. Understanding why and how these trends occur enable us to build strong brand loyalty and partake in better predictive analysis.One of the first lessons I remember from my undergraduate anthropology studies is “ask how not why/what”. Many market research studies examine who buys what fashion and what are the fashion trends, but it fails to understand the underlining why. By asking how, you implicitly are requesting a story and not a simple answer. “Why” can often put individuals on the defensive leading to short abrupt answers, and does not actually reveal the why or motivation behind a decision. Understanding why and how these trends occur enable us to build strong brand loyalty and partake in better predictive analysis. Read More
Posted in Culture, Real Estate, Retail, Uncategorized | No Comments »
Follow Us on Twitter