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American Express study: Consumers opting for less frequent, but larger transactions in retail
New York — Consumers are spending more, but doing so in fewer transactions, according to American Express Business Insights’ most recent Business Insights Spend Sights report.
The study, which examines spending patterns across several key categories, U.S. cities and demographic groups, finds that while economic uncertainty continues to dampen overall consumer confidence, a new pattern of less frequent but measurable splurging has become evident among a range of customer groups in several categories.
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Report: Starbucks to triple stores in China by 2015; open 700 outlets in South Korea
New York — Starbucks plans to triple the number of outlets it has in China during the next four years, the Associated Press reported.
The company expects to increase the number of shops in China from 470 now to 1,500 by 2015, Asia-Pacific President Wang Jinlong said on Tuesday.
Starbucks also plans to open 700 shops in South Korea by 2016, up from 370 now, the report said.