China is set to overtake the US for the first time as the largest grocery market in the world by 2014. Retail analyst IGD forecasts that the Chinese grocery market will be worth €761bn, outstripping the US, which is set to be worth €745bn in four years’ time. Reasons for this include:
• The US was more significantly affected by the recession than China.
• IMF predicts that the Chinese market could grow nearly three times faster than the US over the next four years
• Investment and consumer spend has increased in China and private sector demand has been driven by the Government's stimulus package
Between 2010-14 China’s population growth rate is expected to be double that of the US. Findings come from IGD’s latest report ‘10 for 2010’ that includes predictions of the top ten grocery markets by value in 2014.
Other BRIC (Brazil, Russia, India, China) markets are set to grow in size with India becoming the third largest food and grocery market in four years’ time, while Russia and Brazil rank fifth and sixth respectively. IGD also predicts that Indonesia will enter the top ten list for the first time.
Joanne Denney-Finch, Chief Executive of IGD, commented: “Chinese population growth and economic prosperity are contributing to the rise of China as an important grocery market on the world stage. The US and key European markets still offer an important source of growth for food and grocery businesses, but it is becoming harder to ignore the BRIC countries.”

An Indonesian court has overturned a regulatory body finding that the local unit of Carrefour SA violated anti-monopoly laws, and reversed the commission’s ruling that the retail giant must sell its majority stake in a local retailer, according to a report inn the Wall Street Journal.
The decision will provide a boost to Carrefour’s plans to compete for market share in Indonesia, where a vast consumer base is supported by rising middle-class incomes and an economy that is expanding at one of the fastest rates in the world.
Overall retail sales in Southeast Asia’s largest economy are likely to rise to more than $82bn by 2014 from an estimated $42bn last year, says a recent report from analysis firm Business Monitor International.
“We overturned the case in favour of Carrefour as KPPU misapplied the anti-monopoly rules [in its decision] against Carrefour,” said presiding judge, Justice Kusno.
A lawyer for KPPU stated that the commission will have 14 days to consider whether it will appeal the decision in a higher court.

The biggest outlet mall in Taiwan, the E-da Outlet Mall, is set to open in May. The two million sq ft shopping plaza in Kaohsiung is planning to bring the global shopping experience to Taiwan by providing more than 300 international brands.
Consumers can expect to find international brands ranging from Gucci, Yves Saint Laurent, Calvin Klein, Armani Exchange, Tommy Hilfiger, Marlboro Classic, Timberland, Guess, Miss Sixty, Nike, Adidas, Puma, Lacoste, Energie and more.
Combining shopping, leisure and entertainment, the E-da Outlet Mal comes equipped with the biggest and highest ferris wheel in Taiwan, with a diameter of 80m. It also has the biggest digital cinema with a screen that is 12m tall.
Further, there will be an ice skating rink and a sport zone with basketball court, indoor rock climbing and battling cage.
According to E-da Development Corporation Chairman Lin Yi-shou, the mall will be the first in the world to integrate luxury hotel, theme park, high-aim residential property, and shopping mall into one huge development. The mall is also expected to bring in millions of visitors per year and to also boost business in nearby areas, he said.

Global hospitality management conglomerate Golden Tulip has continued its strategic expansion into South-East Asia with the recent signing of two hotels in Thailand’s popular resort destination of Pattaya. The company already boasts more than 213 hotels in 37 countries with 25,600 rooms and from the beginning of March the Royal Orchid Pattaya (pictured below) will be re-branded as the Golden Tulip Resort Pattaya and positioned as an ideal getaway destination for families and short break guests. The Erawan Hotel Pattaya will re-branded to the Golden Tulip Erawan Hotel showcasing superb facilities for meetings and incentives and leisure travellers.
Both Pattaya properties will undergo extensive renovations to bring them up to Golden Tulip operating standards and will officially re-open in early March. The two hotels were officially signed over to new management on 3 February.
Golden Tulip Managing Director, South East Asia, Mark van Ogtrop, said the signing of the Phuket and Pattaya hotels displayed the strong intentions of the company to the travel industry that it was putting serious resources into finding partners in the region as it seeks more hotels to manage.
“We have a mandate to expand the brand in South-east Asia and these three properties in Phuket and Pattaya signal a significant start to this strategic process and we have some exciting announcements about more hotels to be made in the very near future,” van Ogtrop said.