Business Improvements for House of Fraser - Case Study Example

Proposed Business Improvements for the House of Fraser Total Number of Words: 3,347 Executive Summary This study aims to make a proposal for the business improvement of HoF in China. To learn more about the macro-environment of HoF in China, a PESTLE analysis was conducted in this report. Applicable within the next 3 to 5 years, this report strongly suggest that HoF should determine whether there is a gap in HoF’s customer service, it is possible to adopt the use of the GAP model. Since HoF is new in China, its store manager should make use of observation method or market research survey study. Because of cultural differences, HoF should intentionally create an entirely new online platform using Mandarin as the main language when designing the website. To ensure that the new online platform is in accordance to the cultural factors of the Chinese market, the top management of HoF should hire a website developer in China HoF is new in the Chinese market. Therefore, the top management of HoF should start planning on how they can gradually build HoF in-stores and online stores in China. When planning its business expansion plan, the top management should ensure that the business strategy should comply with the SMART criteria (i.e. specific, measurable, attainable, relevant, and time-bound). Table of Contents Executive Summary ………………………………………………………………………. 2 Table of Contents …………………………………………………………………………. 3 1. Introduction ……………………………………………………………………….. 4 1.1 Focus and Purpose of the Report …………………………………….. 4 1.2 Aims and Objectives ………………………………………………….. 4 1.3 Scope and Limitations ………………………………………………… 4 1.4 Methodology ………………………………………………………….. 5 2 Company/Situational Analysis …………………………….…………………...… 5 2.1 Company Profile ……………………………………………………… 5 2.2 Review of Strategy ……………………………………………………. 6 2.3 Market Profile and Current Trading Position ………………………… 7 2.4 Overview of Relevant Situation Analysis ……………………………. 8 2.4.1 External: Macroeconomic Environment ………………..... 8 2.4.1.1 Political …………………………………….. 8 2.4.1.2 Economic ………………………………….. 8 2.4.1.3 Social ………………………………………. 9 2.4.1.4 Technological ……………………………… 12 2.4.1.5 Environmental …………………………….. 12 2.4.1.6 Legal ……………………………………….. 12 2.4.2 External: Microeconomic Environment ………………….. 13 2.4.2.1 Competitors ……………………………….. 13 2.4.2.2 Suppliers …………………………………… 13 2.4.2.3 Customers …………………………………. 14 2.4.3 Internal Resources ………………………………………… 14 2.4.3.1 Finance …………………………………….. 14 2.4.3.2 Marketing ………………………………….. 14 2.4.3.3 Management Capabilities …………………. 15 2.4.3.4 Store Operations …………………………… 15 3 HoF’s Business Improvement in China …………………………………………... 15 3.1 HoF’s Customer Relationship Management …………………………. 15 3.2 The Launch of Its Online Business in China ………………………… 16 3.3 HoF’s Business Expansion in China …………………………………. 16 4 Conclusion ………………………………………………………………………… 16 5 Recommendations ………………………………………………………………… 17 5.1 HoF’s Customer Relationship Management …………………………. 17 5.2 Improving Its Online Platform ......................................................……. 18 5.3 HoF’s Business Expansion in China ………………………………….. 18 References …………………………………………………………………………………. 19 Appendix I – List of Department Store Operators in China …………………………….. 24 Appendix II – Store Location of Major Department Stores in China …………………… 25 Appendix III – List of Mid-to-High-End Brands in China ………………………………. 26 Chapter 1 – Introduction 1.1 Focus and Purpose of the Report This study will seek to explore the existing business improvements of the HoF in China (i.e. the company’s customer relationship management, the launch of its online business, and its business expansion in China). To learn more about the case of HoF in China, this study will focus on conducting company and situational analysis. As part of going through the main discussion, theories and models such as the PESTLE framework, Ansoff’s matrix, the gap model, and the three horizon model will be applied in this study. Eventually, this study will provide a business proposal on how to effectively improve the company’s business in China over the next 3 to 5 years. 1.2 Aims and Objectives This study aims to make a proposal for the business improvement of HoF in China. The main objective of this study is to conduct company or situational analysis in the case of HoF in China. As such, the sub-objectives of this study is to conduct macroenvironmental analysis using the PESTLE framework, microenvironmental analysis on its competitors, suppliers and customers, including the need to analyze its internal resources. 1.3 Scope and Limitations This study focuses on exploring the existing business improvements and external environmental factors that could affect HoF’s business performance in China. Therefore, the information presented in this study may not necessarily apply to the case of other foreign-based department stores in China. 1.4 Methodology To identify and discuss all environmental factors affecting HoF in China, this study will make full use of a wide-range of past and current online news reports. With regards to related theories and models, various journals and academic books were used in this study. Chapter 2 – Company/Situational Analysis 2.1 Company Profile In 1849, Hugh Fraser and James Arthur decided to open a drapery shop somewhere in Glasgow (House of Fraser, 2015a). After acquiring several businesses in Scotland in 1941, the company became one of the biggest department stores in UK – known now as the House of Fraser (HoF) (House of Fraser, 2015a; House of Fraser, 2015b). As the leading department store in UK, HoF has undergone continuous business expansions throughout England (i.e. Carlisle, East England, Ireland, London, and Norwich among many others) (Butler, 2015; House of Fraser, 2015a). As of 2008, HoF managed to operate at least 65 department stores in UK and Ireland (Figaro Digital, 2015). Through its acquisition strategies, HoF has come to a point of being able to saturate the local market in UK. Therefore, the top management of HoF decided to expand its business globally since 2013 (House of Fraser, 2015a). The case of HoF is quite unique. When its Executive Chairman decided to retire from HoF, the company has publicly announced its decision to sell 100% of its preferred and ordinary shares as well as 89% of its A ordinary shares to Nanjing Xinjiekou Department Store Co., Ltd. –a subsidiary of Sanpower Group for almost £450 million in China (Ruddick, 2015; Goodley, 2014; Wood, 2014). Five months after Sanpower had successfully acquired HoF, the Chinese owner decided to invest £150 million to improve the overall shopping experience of their customers within the next four (4) years (Ruddick, 2014). Under the management of Sanpower, HoF planned to expand its business operations globally by opening at least four (4) major franchising store outlets in Russia (The Guardian, 2014). 2.2 Review of Strategy The online business platform of HoF was established in September 2008 (Bokaie, 2008). To improve the shopping experience of HoF’s customers, the current top management of this particular company decided to invest £150 million not only to create a better store environment but also to further improve its existing online business environment (Ruddick, 2014). Using the Ansoff Matrix, HoF’s decision to improve its existing store and online environment aims to improve its market penetration in existing markets whereas its decision to expand its business in Russia aims to strengthen its market development in new markets. Basically, the main purpose of enhancing its market penetration is to promote business growth in existing market. The main reason for the need to create new market development is to open new business opportunities for HoF. (See Figure I – Ansoff Matrix below) Figure I – Ansoff Matrix Existing Products New Products Existing Markets Market Penetration Product Development New Markets Market Development Diversification The strategy of HoF’s top management is generally good since the process of improving its store environment since it can positively affect the customers’ shopping experience (Verhoef et al., 2009) and overall customer satisfaction (Grewal, Levy, & Kumar, 2009). Eventually, a more frequent customer shopping can lead to higher profit for HoF (Grewal, Levy, & Kumar, 2009). As explained by Verhoef et al. (2009, p. 32), it is good to consider modifying the atmosphere of the retail store environment because this particular factor can be easily controlled by the business owner. Likewise, the business owner has a significant control over the retail store design such as the use of attractive lighting and music which can create a positive ambience on the part of the customers (Baker et al., 2002; Baker, Grewal, & Levy, 1992). Eventually, the quality of service when combined with outstanding customer satisfaction can lead to customers’ store loyalty (Reddy, Reddy, & Azeem, 2011; Grewal, Levy, & Kumar, 2009). To sum it up, further improvements in HoF’s retail store environment can provide the company more opportunity to earn higher sales and profit in the long-run. Improving HoF’s existing online business environment is also a good business strategy. By improving its online business environment, HoF can experience higher sales and profit. For instance, sometime in May 2013, Butler (2013) reported that HoF’s online sales performance reached roughly £1.2 billion which is 3.3% higher as compared to the previous year. In a short span of six (6) weeks, HoF’s online sales increased up to 6.3% during Christmas season of 2012 (Moulds, 2013). 2.3 Market Profile and Current Trading Position The top management of HoF has been successful in positioning its brand as “a leading premium department store” brand throughout UK and Ireland (Bokaie, 2008). As of 2013, Robertson et al. (2013) reported that HoF’s online business ranked the “39th position out of 52 online retailers in the Gomez benchmark”. In the process of entering into a business partnership with Nanjing, there is a higher chance wherein HoF can become one of the giant department store brands worldwide. 2.4 Overview of Relevant Situation Analysis This section will purposely conduct PESTLE analysis to examine the macroeconomic environment in China followed by conducting microeconomic environment analysis with regards to HoF China’s close competitors, potential suppliers, and target customers. Eventually, the last part of this section will seek to analyze and examine HoF China’s internal resources. 2.4.1 External: Macroeconomic Environment PESTLE Analysis was used to analyze the macro-environmental factors that could affect the business of HoF in China: 2.4.1.1 Political The Chinese government strongly protects the business interest of its local business people by setting a strong policy on its inward foreign direct investments (FDI) (The World Bank, 2010). For instance, the Chinese government purposely set a strict restriction on foreign ownership (Davies, 2013; China.org.cn, 2009). Since the first part of 1980s up to the present time, Davies (2013) mentioned that foreign control in businesses in China were limited by requiring all foreign investors to enter into a contractual joint venture with the local business owners. Using the business law in China, the Chinese government tend to discriminate foreign business owners for the benefits of the local business owners (Davies, 2013; Breslin, 2006). Specifically the strict government intervention on the presence of HoF makes it difficult for the UK department store to do business in China without entering into joint venture with some of the local business people in China. Perhaps, this is one of the main reasons why HoF decided to sell majority of its stake to Nanjing before its Chief Executive decided to leave the company (Ruddick, 2015; Goodley, 2014; Wood, 2014). 2.4.1.2 Economic As of 2015, the economic situation in China remains the strongest worldwide (Stiglitz, 2015). Since 2006 up to 2014, China managed to constantly increase its gross domestic product (GDP) from US$ 2,260 billion up to US$ 9.24 billion respectively (Trading Economics, 2015). (See Figure II – China’s GDP from 2006 to 2014 below) Figure II – China’s GDP from 2006 to 2014 Source: Trading Economics, 2015 2.4.1.3 Social Globally, China ranked the 1st with the biggest population. As of 2015, China’s total population has reached 1,401,586,609 (Worldmeters, 2015). Its trend of poverty has been decreasing from 1990 to 2010 (The World Bank, 2015b). Specifically the decreasing trend in China’s poverty rate strongly suggests that more and more people in China are currently employed. As of 2013, as much as 769.77 million and 793 million people in China are employed and active economically respectively (Statista, 2015a). As of 2012, as much as 71% of China’s total population more than 15 years of age are employed (Statista, 2015b). It means that the potential market of HoF in China is really big. (See Figure III – China’s Total Population as of 2015 below; Figure IV – Trend of Poverty in China on page 11; Figure V – Employed People in China on page 11; Figure VI – China’s Rate of Labor Participation on page 11) Figure III – China’s Total Population as of 2015 Source: Worldmeters, 2015 Figure IV – Trend of Poverty in China Source: The World Bank, 2015b Figure V – Employed People in China Source: Statista, 2015a 2.4.1.4 Technological Through transfer of knowledge and technology, China is capable of becoming the world’s leader in technological innovation (Stockholm International Peace Research Institute, 2015). As of March 2015, Kiss (2015) reported that roughly “115 million upper and middle class women” are highly dependent on the use of social media and e-commerce. This figure alone strongly suggests that HoF’s decision to improve its online business environment can bring in more sales and profit for the company. 2.4.1.5 Environmental As a result of rapid economic development, China is now facing a serious environmental crisis (Xu, 2014). Because of excessive carbon emission, the health of Chinese people is greatly endangered. To win the long-term support and interests of Chinese consumers, HoF should consider their social responsibility in preserving the environment and public health of people in China. 2.4.1.6 Legal Among the common foreign investment laws in China includes the following: (1) Chinese-foreign equity joint ventures; (2) Chinese-foreign contractual joint ventures; (3) wholly foreign-owned enterprise; and (4) foreign-invested enterprise and income taxes (China.org.cn, 2009). Aside from typical business taxes, consumption taxes, and value-added taxes, other existing general laws such as the company Law, contractual law, insurance, law, and labour law of PRC (China.org.cn, 2009). All these legal restrictions make it more difficult on the part of foreign investors to invest in China. 2.4.2 External: Microeconomic Environment This section focuses on examining the close competitors, potential suppliers, and target customers of HoF in China. 2.4.2.1 Competitors The market competition among the department store operators in China is very tight. As such, McGoldrick (1990) mentioned the need to create competitive advantage as compared to HoF’s close competitors. Among the list of HoF’s competitors include: (1) Beijing Hualian; (2) C&A; (3) Dalian Dashang Group; (4) Grand Ocean Group; (5) Isetan and Mitsukoshi Department Stores; (6) Jiuguang Department Store; (7) Lane Crawford; (8) Liaoning Xinglong Big Family Business Group; (9) Lotte Mart; (10) Maoye International; (11) New World Department Store China Ltd; (12) Pacific Sogo; (13) Parkson; (14) Shianghai Friendship Group Inc. Co.; (15) Shin Kong Place; and (16) Wangfujing Department Store among many others (Fung Business Intelligence Centre, 2013). HoF was established as a premium brand. Therefore, HoF is more likely to compete with mid-to-high-end brands in China (i.e. Golden Eagle, Intime, New World, Parkson, etc.) (Fung Business Intelligence Centre, 2013). In general, department stores sells homogenous products, the ability of the department store operators to differentiate their brand and quality services becomes a crucial part of its market competition. (See Appendix I – List of Department Store Operators in China on page 24; Appendix II – Store Location of Major Department Stores in China on page 25; Appendix III – List of Mid-to-High-End Brands in China on page 26) 2.4.2.2 Suppliers Department stores in China are mostly being supplied by China’s local manufacturers and distributors (Fung Business Intelligence Centre, 2013). HoF should not fear running out of highly qualified local suppliers since there are a lot of local companies that can offer them products to sell. 2.4.2.3 Customers As a result of its economic progress, some shoppers in China has become less price sensitive (Fung Business Intelligence Centre, 2013). Instead, they prefer to shop in stores that could offer them unique shopping experience and convenience (Fung Business Intelligence Centre, 2013). 2.4.3 Internal Resources This section focuses on analyzing HoF’s financial standing, B&M, marketing strategies, management capabilities, and store operations. 2.4.3.1 Finance Under the management of Nanjing, the fact that HoF has recently invested £150 million to improve the overall shopping experience of their customers within the next four (4) years (Ruddick, 2014) and its business expansion plan in Russia (The Guardian, 2014) strongly suggest that this particular company is in good financial position to pursue or implement its future business plans. 2.4.3.2 Marketing To build its brand, HoF has created its “local and regional promotion” strategy through the use of advertisement such as the music-driven ads of John Lewis (Owen, 2011). In 2012, HoF was focused on creating a digital marketing event to improve its overall business performance (Moth, 2012). A year later, HoF decided to hire Tony Holdway to reposition HoF’s current brand (Brownsell, 2013). In the process of changing the company’s in-store environment, the use of public relations, branding strategies, and advertising method, Holdway was able to effectively reposition HoF’s brand in the global market (Brownsell, 2013). 2.4.3.3 Management Capabilities Being in retail business since 1849 (University of Glasgow, 2011), the top management of HoF has constantly improving its management capabilities by learning from their previous business experiences. Even though the majority shares of HoF was recently bought by Nanjing, the fact that Nanjing Group has been well-experienced in acquiring large-scale overseas retail store businesses ensures that the current management of HoF is very much capable of running the business (Croydon Guardian, 2014). 2.4.3.4 Store Operations To improve the in-store atmosphere of HoF, the company has been going through a series of store refurbishment in all of its store outlets nationwide (University of Glasgow, 2011). To create a multi-channel shopping experience for its target customers, the company’s store support centre has decided to sell a wide-range of famous clothing brands to satisfy the expectations and specific needs of its valued customers (House of Fraser, 2015c). Chapter 3 – HoF’s Business Improvement in China To improve HoF’s business in China, this study proposed the need to improve its customer relationship management (CRM) strategies, enhance or modify its existing online business platform, and focus on HoF’s business expansion in China. 3.1 HoF’s Customer Relationship Management Customer relationship management (CRM) was defined by Kincaid (2003, pp. 41–42) as “the strategic use of information, processes, technology and people to manage the customer’s relationship with the company” (i.e. sales and marketing, customer service, and product support). In line with this, HoF aims to make full use of various marketing communication tools such as national mails or e-mailing its newsletters concerning its promotional activities, sales, etc. as a way to create business relationship between the company and its customers (House of Fraser, 2015d). 3.2 Improving Its Online Platform Most of the mid-to-high-end department store brands in China have already established their own individual online platform (Fung Business Intelligence Centre, 2013). This explains why HoF should continuously improve its existing online business platform. 3.3 HoF’s Business Expansion in China Based on the model of the product life cycle, a business can undergo the introduction stage, growth state, maturity stage, and decline stage (Baker & Baker, 2010, p. 353). After establishing and operating 65 retail store outlets throughout UK and Ireland and its online platform (Figaro Digital, 2015), HoF has already reached its maturity stage. For this reason, HoF’s decision to pursue its business expansion in China serves as a good business strategy to prevent the company from reaching the decline stage. Chapter 4 – Conclusion The business strategy of HoF really makes a lot of sense. Since the company has been facing maturity stage in UK and Ireland market, its decision to expand its business operation in China opens an entirely new business opportunity for the company. To be able to create more viable options for HoF China, the company should focus on establishing new HoF stores and a new online platform for the Chinese market. (See Figure VI – The Three Horizons of Growth below) Figure VI – The Three Horizons of Growth Chapter 5 – Recommendations 5.1 HoF’s Customer Relationship Management Normally, the use of marketing communication tools alone is not enough to build a close relationship with HoF’s target customers. At all times, HoF should be able to meet its target customers’ expectations with regards to the company’s store/brand image, quality of products sold in-store or online, and the quality service they receive from the staff. To determine whether there is a gap in HoF’s customer service, it is possible to adopt the use of the GAP model. Since HoF is new in China, its store manager should make use of observation method or market research survey study when determining if there is gap between the customers’ expectations and HoF’s management, gap between quality service specification and management, gap between the delivery of service and specification of service quality, gap between marketing communication and the delivery of service, and gap between service experience and customers’ expected quality service (Boundless, 2015). 5.2 Improving Its Online Platform Targeting the Chinese market means huge differences between the use of language and other cultural-related factors. For this reason, HoF should intentionally create an entirely new online platform using Mandarin as the main language when designing the website. To ensure that the new online platform is in accordance to the cultural factors of the Chinese market, the top management of HoF should hire a website developer in China. 5.3 HoF’s Business Expansion in China HoF is new in the Chinese market. For this reason, the top management of HoF should start planning on how they can gradually build HoF in-stores and online stores in China. When planning its business expansion plan, the top management should ensure that the business strategy should comply with the SMART criteria (i.e. specific, measurable, attainable, relevant, and time-bound). References Baker, J., Grewal, D. and Levy, M. (1992). An Experimental Approach to Making Retail Store Environmental Decisions. Journal of Retailing, 68(4), pp. 445-460. Baker, J., Parasuraman, A., Grewal, D. and Voss, G. (2002). The Influence of Multiple Store Environment Cues on Perceived Merchandise Value and Patronage Intentions. Journal of Marketing, 66(2), pp. 120-141. Baker, M. and Baker, M. S. (2010). Marketing Theory: A Student Text. Thousand Oaks, California: Sage Publication Inc. Bokaie, J. (2008, May 28). House of Fraser work to boost premium position. [Online] Available at: http://www.marketingmagazine.co.uk/article/812173/house-fraser-work-boost-premium-position [Accessed 10 April 2015]. Boundless. (2015). The Gap Model. [Online] Available at: https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/services-marketing-6/service-quality-51/the-gap-model-254-4140/ [Accessed 10 April 2015]. Breslin, S. (2006). Foreign direct investment in the People’s Republic of China : preferences, policies and performance. Policy & Society, 25(1), pp. 9-38. Brownsell, A. (2013, May 9). House of Fraser hires Tony Holdway for top marketing role. [Online] Available at: http://www.marketingmagazine.co.uk/article/1181720/house-fraser-hires-tony-holdway-top-marketing-role [Accessed 10 April 2015]. Butler, S. (2013, May 22). House of Fraser online sales jump by 53%. Retailer continues to struggle to make a profit despite online performance pushing total sales to £1.2bn last year, a 3.3% rise. [Online] Available at: http://www.theguardian.com/business/2013/may/22/house-of-fraser-online-sales-53 [Accessed 10 April 2015]. Butler, S. (2015, January 6). House of Fraser reports strong Christmas sales on back of Black Friday. [Online] Available at: http://www.theguardian.com/business/2015/jan/06/house-of-fraser-strong-christmas-sales-black-friday [Accessed 10 April 2015]. China.org.cn. (2009, July 15). Foreign investment policy system in China. [Online] Available at: http://www.china.org.cn/living_in_china/abc/2009-07/15/content_18141137.htm [Accessed 10 April 2015]. Croydon Guardian. (2014). House of Fraser sells 89% stake. [Online] Available at: http://www.croydonguardian.co.uk/news/national/news/11145577.House_of_Fraser_sells_89__stake/ [Accessed 10 April 2015]. Davies, K. (2013). China Investment Policy - An Update. OECD Working Papers on International Investment 2013/01. [Online] Available at: http://www.oecd.org/china/WP-2013_1.pdf [Accessed 10 April 2015]. Figaro Digital. (2015). House of Fraser. [Online] Available at: http://www.figarodigital.co.uk/case-study/house-of-fraser.aspx [Accessed 10 April 2015]. Fung Business Intelligence Centre. (2013, November). Department stores in China. [Online] Available at: http://www.funggroup.com/eng/knowledge/research/china_dis_issue117.pdf [Accessed 10 April 2015]. Goodley, S. (2014, April 13). House of Fraser sells 89% stake to Chinese conglomerate Sanpower. Department store sells majority stake in £480m deal touted as largest overseas retail acquisition by Chinese business. [Online] Available at: http://www.theguardian.com/business/2014/apr/13/house-of-fraser-sells-stake-chinese-sanpower [Accessed 10 April 2015]. Grewal, D., Levy, M. and Kumar, V. (2009). Customer Experience Management in Retailing: An Organizing Framework. Journal of Retailing, 85(1), pp. 1-14. House of Fraser. (2015a). Company Information. [Online] Available at: http://www.houseoffraser.co.uk/About+House+of+Fraser/AboutUs,default,pg.html [Accessed 10 April 2015]. House of Fraser. (2015d). Customer Relationship Management (CRM). [Online] Available at: https://www.houseofcareers.co.uk/our-teams/ [Accessed 10 April 2015]. House of Fraser. (2015b). News. [Online] Available at: http://www.houseoffraser.co.uk/news/news,default,pg.html [Accessed 10 April 2015]. House of Fraser. (2015c). Store Support Centre. [Online] Available at: https://www.houseofcareers.co.uk/our-teams/ [Accessed 10 April 2015]. Kincaid, J. (2003). Customer Relationship Management: Getting it Right! New Jersey: Prentice Hall. Kiss, j. (2015, March 16). Wired women: the $3tn women powering Chinas tech boom. [Online] Available at: http://www.theguardian.com/technology/2015/mar/16/china-tech-women-wechat-sxsw [Accessed 10 April 2015]. McGoldrick, P. (1990). Retail Marketing. London: McGraw-Hill. Moth, D. (2012, June 13). House of Fraser: digital is key to personalising in-store experience. [Online] Available at: https://econsultancy.com/blog/10105-house-of-fraser-digital-is-key-to-personalising-in-store-experience/ [Accessed 10 April 2015]. Moulds, J. (2013, January 7). Christmas sales: House of Fraser celebrates online surge. [Online] Available at: http://www.theguardian.com/business/2013/jan/07/house-of-fraser-online-sales-christmas [Accessed 10 April 2015]. Owen, E. (2011, March 15). House of Fraser in shift to national brand building strategy. [Online] Available at: http://www.marketingmagazine.co.uk/article/1059820/house-fraser-shift-national-brand-building-strategy [Accessed 10 April 2015]. Reddy, N., Reddy, T. and Azeem, B. (2011). Influence of Store Satisfaction, Merchandise Quality, and Service Quality on Store Loyalty. International Journal of Trade, Economics and Finance, 2(5), pp. 351-355. Robertson, E., Redwood, G., Flower, D. and Westwater, M. (2013, November 27). Retail Review – House of Fraser. [Online] Available at: http://internetretailing.net/issue/internetretailing-november-2011/retail-review-house-of-fraser/ [Accessed 10 April 2015]. Ruddick, G. (2015, February 18). House of Fraser boss steps down as retailer prepares for China expansion. [Online] Available at: http://www.msn.com/en-gb/news/other/house-of-fraser-boss-steps-down-as-retailer-prepares-for-china-expansion/ar-BBhIYHs [Accessed 10 April 2015]. Ruddick, G. (2014, September 24). House of Fraser to go-ahead with £150m expansion after sales rise. House of Fraser reports rise in sales and profits as Chinese owners take charge. [Online] Available at: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11119620/House-of-Fraser-to-go-ahead-with-150m-expansion-after-sales-rise.html [Accessed 10 April 2015]. Statista. (2015a). Economically active population vs number of employed persons in China from 2007 to 2013 (in millions). [Online] Available at: http://www.statista.com/statistics/252848/economically-active-population-vs-number-of-employed-persons-in-china/ [Accessed 10 April 2015]. Statista. (2015b). Labor participation rate* in China from 2002 to 2012. [Online] Available at: http://www.statista.com/statistics/239152/labor-force-participation-rate-in-china/ [Accessed 10 April 2015]. Stiglitz, J. (2015, January). The Chinese Century. [Online] Available at: http://www.vanityfair.com/news/2015/01/china-worlds-largest-economy [Accessed 10 April 2015]. Stockholm International Peace Research Institute. (2015). Chinas technological development and the implications for the rest of the world. [Online] Available at: http://www.sipri.org/research/security/china/research/technology [Accessed 10 April 2015]. The Guardian. (2014, May 4). House of Fraser stores to open in Russia under Sanpower expansion plan. Yuan Yafei tells the FT of plans to open four franchise stores in Russia over the next two to three years, following takeover deal. [Online] Available at: http://www.theguardian.com/business/2014/may/04/house-of-fraser-stores-russia-sanpower-expansion-plan [Accessed 10 April 2015]. The World Bank. (2010, July 16). Foreign Direct Investment – the China story. [Online] Available at: http://www.worldbank.org/en/news/feature/2010/07/16/foreign-direct-investment-china-story [Accessed 10 April 2015]. The World Bank. (2015b). Poverty & Equity. [Online] Available at: http://povertydata.worldbank.org/poverty/country/CHN [Accessed 10 April 2015]. Trading Economics. (2015). China GDP 1960-2015. [Online] Available at: http://www.tradingeconomics.com/china/gdp [Accessed 10 April 2015]. University of Glasgow. (2011). House of Fraser - Brief summary of company history. [Online] Available at: http://www.gla.ac.uk/media/media_71300_en.pdf [Accessed 10 April 2015]. Verhoef, P., Lemon, K. P., Roggeveen, A., Tsiros, M. and Schlesinger, L. (2009). “Customer Experience Creation: Determinants, Dynamics and Management Strategies. Journal of Retailing, 85(1), pp. 31-41. Wood, Z. (2014, April 4). House of Fraser sold to Chinas Sanpower. [Online] Available at: http://www.theguardian.com/business/2014/apr/04/house-of-fraser-sold-to-sanpower-group [Accessed 10 April 2015]. Worldmeters. (2015). China Population (LIVE). [Online] Available at: http://www.worldometers.info/world-population/china-population/ [Accessed 10 April 2015]. Xu, B. (2014, April 25). Chinas Environmental Crisis. [Online] Available at: http://www.cfr.org/china/chinas-environmental-crisis/p12608 [Accessed 10 April 2015]. Appendix I – List of Department Store Operators in China Source: Fung Business Intelligence Centre, 2013 Appendix II – Store Location of Major Department Stores in China Source: Fung Business Intelligence Centre, 2013 Appendix III – List of Mid-to-High-End Brands in China Source: Fung Business Intelligence Centre, 2013 Read More