PCCW’s Post

Pharm. Olu, your post highlights the importance of innovation and adaptability in today's fast-paced market. HMV's failure to pivot quickly enough serves as a cautionary tale for businesses. It's crucial to stay attuned to shifting consumer preferences and technological advancements to remain relevant. Great insight!

#HMV : Furthermore on reinventing your #business for tomorrow. . “like the huge music stores of old, "hanging out" at #HMV became a rite of passage for hordes of impressionable youth. It was a place to see and be seen, and for those who could afford the luxury of time, listening to discs to sample them one by one was a habit among young and old alike. .. A changing digital marketplace has seen many physical retailers struggle here in Singapore in the past decade, and HMV has been no exception.” Also see previous related post in comment section. . #management #strategy #digitaldisruption #digitaltransformation https://lnkd.in/dHGKvqhU

Insights from Coast to Coast: Learning from ICSC Conferences 🌐 What are we learning from ICSC shows across the country? 🤔 I had a chance to speak with Daniel Taub, National Director for Marcus & Millichap, as he has the responsibility and unique opportunity to attend each ICSC conference, taking care of our customers and gaining insight. 🌟 Retailers are very active and eager to open more stores. 🛍️ Although certain bankruptcies and store closures are making the headlines, there are numerous well-known and new operators that are planning aggressive expansion. 🚀 With that, AI and mobile data have become more essential focal points for the site selection process. 📱 There is heightened optimism in the overall market as compared to last year. 💡 Retail sales are very positive, occupancy rates are at all-time highs, and anticipation of rate cuts happening this year is helping investor sentiment. 💵 Shopping center Buyers are seeking properties with similar criteria, as to likely answer the demands of the capital backing them. 🏢 The pricing divide between Sellers and Buyers is still relevant, though Buyers are now much more accepting of the current trends and not expecting huge discounts with an implosion in the retail property type. 👥 They are using prudent decision making and are patient with their money. 💼 Sellers, on the other hand, are still hoping to achieve prices quoted prior to the increased rate environment, but they do show some signs of giving in to the new realities of the marketplace. 🔄 With a lack of supply on the market, it continues to put further pressure on pent-up demand. 🔍 www.shopcenterpros.com www.icsc.com www.linktr.ee/raycrebroker #ICSC #RetailRealEstate #ShoppingCenters #RetailExpansion #MarketInsights #RetailSales #OccupancyRates #InvestorSentiment #PropertyBuying #RealEstateTrends #SiteSelection #ArtificialIntelligence #MobileData #InvestmentStrategies #CommercialRealEstate #ICSCCreator #Partnership #MarcusMillichap #RayKang

HKRMA - Voice of Hong Kong Retail A great event with a mix of ecosystem specialists, generously sharing ideas and strategies on how to leverage opportunities in the changing retail environment. A quick recap of 3 topics I have discussed in the panel : 1) a focus on customisation and experiential retail, niche brands, 2) Halal food and products a growing business opportunity (food US$1403B, fashion US$318B, cosmetic US$84B according to Global Islamic Economy Report) 3)Promote the favorable business environment in HK which can help retailers manage costs and risks. Bond Law Sindy Wong Cherlane K. Angela Cheung Arthur Yu Jimmy Chiang Wendy Lee Kazuko Hamakawa Young Ho Seo Ninad Parkar Ashish Mehta Daisy I. Mark Hedley Mabel Lee Noofal Shahin Maha Azmy Stefano De Paoli Paula Kant Fernando de la Cal González Wing Hin Chung Leonid Orlov Ranjit Unnithan Lawrence Tang Thiago Cruz Silveira Veronica Medina Melvin Lee Andy Hermanto Hillwan Yogi B. Dr. Luca De Leonardis #investhk #hkrma #retail #shopping #brands #hongkong

Hong Kong's retail and F&B industries are being hit by closures ever since the end of covid. I spoke with Benjamin Quinlan, Patrick Wong, CFA, FRICS, Olivier Caisson of Pastis Group and Legco member Tommy Cheung to find out more about the headwinds Hong Kong is facing. One part that didn't make it into this story from Patrick was that there is the possibility that with cheaper rents, cost of living and high speed trains, people could soon just commute into Hong Kong in the future. Link to the full story in comments #Hongkong #Retail #F&B #property #GBA #economy

The recent changes in Hong Kong's retail scene are a telling sign of the challenges facing Hong Kong's small and medium-sized enterprises (SMEs). As many traditional shops close down, 'experiential stores' like claw machine arcades and selfie shops are popping up across prime commercial areas. Dr. Vera Yuen, lecturer of Economics at HKU Business School, notes that the wave of emigration in recent years has greatly affected the purchasing power of Hong Kong residents, with middle-class families with strong spending power leaving the city. Additionally, the rise of online shopping and the tendency of Hong Kong residents to shop and dine across the border have contributed to the closure of physical stores. Learn More: https://sc.mp/gyi8e Photo: Sun Yeung @ South China Morning Post SCMP #HKUBusinessSchool #HongKongRetail #SMEChallenges

Do you want to take a look of how our newly opened Hong Kong West Service Centre operates? Let's watch this video to take a glimpse! #DHL #DHLProcurement #yellowunited #ConnectingPeopleImprovingLives #dhlhongkong

A Lesson in Adaptation: The Journey of Nabi Saleh and Gloria Jean’s Coffee In 1974, Nabi Saleh embarked on a career in the tea and coffee industry in Papua New Guinea, focusing on marketing and manufacturing. His dedication and expertise led him to become a prominent figure in Australia's coffee scene. But it was a visit to a Chicago coffee shop in 1995 that truly transformed his trajectory. Nabi, along with business partner Peter Irvine, discovered Gloria Jean’s Coffee and was so impressed that they secured the rights to introduce it to Australia. They opened two stores in Sydney in 1996, but faced significant challenges. The stores, modeled after the U.S. concept, didn’t resonate with Australian customers. Nabi reflects, “We based our stores on the U.S. model, which was totally un-Australian. People loved the coffee, but they wondered, ‘Where are the seats? Where is the food?’” It became clear that a crucial adjustment was needed. Determined to succeed, Nabi and Peter took nearly two years to refine their approach. They adapted their stores to better meet local preferences, focusing on creating an inviting environment rather than just a takeaway concept. This customer-centric shift laid the foundation for rapid growth. Within a decade, they opened over 300 stores and expanded globally. By 2005, they acquired the international rights to Gloria Jean’s, and today, the brand boasts around 600 stores across forty countries. One key takeaway from Nabi’s journey, which I recently read in John C. Maxwell’s book "Everyone Communicates, Few Connect," is his profound perspective: “We aren’t in the coffee business, serving people. We are in the people business, serving coffee.” This mindset is not just about selling a product; it’s about understanding and prioritizing the needs of your customers. Nabi’s story is a powerful reminder that success isn’t just about having a great product—it’s about connecting with people, adapting to their needs, and keeping the focus on serving them. #Leadership #CustomerExperience #BusinessGrowth #Adaptation #GloriaJeans #JohnCMaxwell #ContinuousImprovement

In case you missed it, last Friday, we published an update on Cotti Coffee on Tech Buzz China. This coffee chain, founded by the two Luckin Coffee founders who were ousted for fraud, exploded in 2023. But growth has slowed down while a price war with Luckin broke out. Hundreds of stores are in the process of relocating, probably to locations with lower rent. But will this solve the challenges for Cotti? The company tends to close stores if they don't show profitability in 9 months. And the end of many 12-month leases on many stores is coming up in Q2 2024. Meanwhile, Cotti has created 'ways out' for struggling franchisees. Read more in our update (you can find a link on the Tech Buzz China page) and see what we can learn from interviews with (former) staff of Luckin and Cotti and frustrated messages of supposed Cotti franchisees on social media. #china #coffee

I really loved being a part of the Hong Kong Baptist University B-DARE business simulation competition. The students were asked to prepare a report and presentation to tackle the question of “How to make a Western brand such as Subway more popular in a market like Hong Kong?”. After a short briefing about the brand, the students went away and prepared. What they submitted was phenomenal, truly impressive insights about a market we feel we are constantly learning about. Although there could be only one winner on the day, I felt like there weren’t any losers. Every team had put their heart and soul into their work and it showed. Here are some key takeaways from the finalists presentations: 1. Localise some of the menu and marketing. Have local flavours that draw in the local consumer. Introducing the customer to the brand with a softer landing. What a great way to connect with the consumers in whatever market you are selling. Use local influencers that really understand the local people, that’s how you create a loyalty that is unique to the market. 2. Digital ordering and innovation. Online ordering, pick up, loyalty programs, self order kiosks. You name it, it was featured in these presentations. In this ever changing market, this one couldn’t be more accurate as we strive to provide greater convenience and efficiency for our consumers. 3. Snacks! Younger consumers, a lot of our consumers, snack. They eat throughout the day, lighter and more regular meals. If the population here are not buying footlongs, what can they buy with the 6-inch to increase the ticket? Bring more side items, like McDonald’s here who do it so well and watch the average ticket balloon! This includes drinks like healthy smoothies. 4. Simplify the menu and order process. Do away with some of the customisation and let the customer save time at Subway, get asked less questions, but have a sub made with all the flavours the experts recommend! Sounds like the signature series launching at Subways all around the world, watch this space! There were a good deal more but these were some that really resonated with me and the other judges. Well done to all the teams involved and thanks so much to HKBU for having me. More information can be found here: https://lnkd.in/gAvU95XD I look forward to the next competition! #Subway #HongKong #HKBU #greatinsights