One solution retailers are utilizing to meet these consumer demands is data warehousing, which is building systems so retailers can store customer and product data collected from different sources in a single location. Data warehousing can provide real business benefits to retailers large and small while at the same time controlling costs. In 1998, KSA conducted a survey of the retail industry in the United States, Europe and Asia. The major findings are discussed during an interview with our chairman and managing director of Asia. Aggressive inventory management brings new profit opportunities.
Success comes from doing many things well.
Given the speed of change in the retail environment, adaptability and resilience are obvious prerequisites. KSA looks at the former colony's prospects. As retailers and manufacturers struggle to get a handle on changing consumer buying habits, they're turning to category management to enhance vendor-merchant partnerships. KSA offers a seven-point category management blueprint for retailers and vendors who want to establish such a partnership. Hong Kong's retail fortunes have tempted some big names, but as that market becomes saturated, retailers see the island as a gateway to the lucrative Asia-Pacific region.