Asia news & analysis

11 December 2020
Suning.com, owner of Carrefour China, has launched a new ecommerce platform called Yunwang Wandian in December. Securing CNY6bn (US$915.5m) in funding The retailer has spun off its online retail platform and e-commerce services activities into a newly formed business called Yunwang Wandian with approximately US$915.5m in funding. The capital was provided by Shenzhen Capital Group, Sen...
10 December 2020
South Korea’s largest supermarket chain operator Emart is likely to exit Vietnam in the face of regulatory hurdles. Struggling to expand Emart, owned by Shinesegae, opened its first outlet in Vietnam in 2015. It has plans to open five to six more stores. However the project has been delayed due to licensing issues. The company still has just one store. Emart said it has maintained a high ye...
09 December 2020
Tesco expects to complete the divestment of its operations in Thailand and Malaysia to CP Group on or around 18 December. The confirmation follows regulatory clearance from the Thai and Malaysian competition authorities  and acceptance of the approval conditions by CP Group. Proceeds to shareholders and to improve pension fund The deal will allow Tesco to return c.£5 bn of net proceeds t...
09 December 2020
Amazon’s ultrafast grocery delivery service will be renamed as Amazon Fresh. Amazon Fresh launched on Amazon.sg The new and improved version of the 2-hour grocery delivery service Amazon Prime Now now comes free with the Prime membership. Prime members will enjoy a greater selection and exclusive access to thousands of chilled, fresh and frozen products. The 2-hour grocery delivery service ...
08 December 2020
Emart, South Korea's largest supermarket chain operated by Shinsegae, said in November that it will shut down its PK PEACOCK stores. Closing because of business insufficiency and unprofitability Targeting one- and two-person households, as well as housewives in their 40s and 50s, Emart launched its first PK PEACOCK store in 2018, catering to the rising demand for home meal replacement (HMR)...
07 December 2020
The ecommerce retailer announced that three 7Fresh stores will be launched between 18 and 25 December, all in Guangzhou. Providing a worry-free experience for customers The new stores are under the banner of 7Fresh Life, which is JD.com’s community store format . To fulfil the shoppers needs of the local catchments, the stores offer the following services: 24-hour opening 30...
07 December 2020
Although the COVID-19 pandemic curtailed most of our travel plans in 2020, there has been no shortage of new store concepts to see. In our new report, we highlight 50 new food retail and drugstore concepts that are set to inspire store developments in 2021 and beyond. Since the start of the pandemic we have seen a stronger focus on the use of technologies to support a contactless experience and t...
03 December 2020
Foodpanda and the global convenience store chain 7-Eleven have formed a partnership, which will see 2,500 7-Eleven stores across Southeast Asia added to the delivery firm’s app. A partnership that underscores Foodpanda’s dual focus The delivery service will be rolled out in four countries: Singapore, Malaysia, Taiwan and the Philippines. An average of 1,000 SKUs will be shoppable from the a...
02 December 2020
Pushing towards a cashless future, China has become the first major economy to carry out a real-world test for its digital currency after six years developing the idea. Here is a basic guide to what digital currency is, how it is different to other electronic payments and what implications to be aware of. What is China’s digital currency? China’s digital currency is a payment system created...
30 November 2020
Speaking at a forum in Shanghai last week, Alibaba Group Chairman and CEO Daniel Zhang, shared the new consumer behavior and trends seen during this year’s 11.11 Global Shopping Festival . Mature consumers: sharp rise in numbers and big spenders The number of mature consumers, defined as Baby Boomer generation (born between 1946 and 1964) and Gen Xers (born between 1965 and 1980), ha...