Deloitte Reports World's Top Retailers Generate $4.53 Trillion in Revenue, Grow 5.7% But Global Economy Will Slump
Deloitte Global report “Global Powers of Retailing 2019” found that the world’s top 250 retailers generated aggregated revenue of $4.53 trillion in fiscal 2017, representing composite growth of 5.7%. The retail scene in Southeast Asia will continue to shy as consumer’s demand for convenience is ever-growing.
Nevertheless, Deloitte declares that inflation will accelerate in major markets which will push the governments to make shifts in monetary and fiscal policies. Most emerging markets are likely to experience significant currency depreciation, the global economy will slow down in the near future.
Daiso Signs Service Agreement with Malaysia's Logistics Company to Set Up Distribution Center in Malaysia
In the agreement between Daiso and PKT every24 Logistics, Daiso appoints PKT to run its regional distribution center. For that, PKT has begun constructing a purpose-built warehouse at an estimated investment cost of $61 million while creating 500 new jobs for the state of Selangor.
The partnership will see PKT providing Daiso haulage, freight forwarding, and warehousing services for their transshipment and local cargo, reaching approximately several hundred containers per month.
Malls across the US are expected to close by billions due to a lack of foot traffic and a consumer shift to ecommerce. But that’s not the case for Singapore’s iconic Marina Bay Sands. For the year 2018, the shopping mall reports a record-breaking sales of $179 million, a 7% rise YoY.
Retail tenant sales at The Shoppes also jumped 19% to $1,898 per square foot last year, while tourist spending remained high – capturing an estimated 25% of the tax-free tourist market in Singapore.
Following a loss of $52 billion in 2018, the Japanese messaging app LINE is investing $182 million into its mobile payment business, Line Pay, in a bid to shift the company’s fortunes. The result LINE hopes to achieve is an increase of engagement across the ecosystem and help bolster the company.
According to the report, LINE is looking to replicate the success of Chinese tech giants Alibaba and Tencent and their mobile payments divisions, AliPay and TenPay, which have seen massive growth in recent years.