Although Asia is famous for great dining, the fi rst choice among urban Asians isn't a restaurant, hawker center or fast-food outlet. Eighty percent of Thais, 76 percent of Malaysians, 74 percent of Filipinos and 73 percent of Singaporeans say they prefer to eat at their parents' or in-laws' homes, according to an Electrolux survey. In fact, 43 percent of the surveyed respondents say that the most important thing about a good meal is the opportunity to spend time with friends and family, especially parents and in-laws.
• Parents' and in-laws' homes are favorite places to dine out; • Urbanites in India and the Philippines are most passionate about food and entertaining; • Indonesians and Singaporeans say that the best thing about a good meal is the opportunity to spend time with friends and family, especially moms; • Majority of Asians still believe that cooking is a necessary skill; • Over a third of Asians eat in front of a TV set at least fi ve times a week; • Breakfast is most important meal for Asians.
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While Tesco had previously resisted offering mortgages on the grounds that the margins were so tight that they were unprofitable, finance director Andrew Higginson said that the credit crunch seems to have created an opportunity. Tesco may begin offering home mortgages to compete with the major lenders.
In response to consumer research and the global trend for convenience, South Africa's Pick n Pay has opened its first small format convenience store in Fairland, Johannesburg.
Marks & Spencer has opened its first store in mainland China with hopes that it might lift flagging results. As the flagship store opened on West Nanjing Road, Shanghai’s premier shopping street, the UK retailer reported its worst performance for three years with like-for-like UK sales down by over six per cent over the last three months.
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US grocers including Whole Foods Market, Kroger and Stop & Shop have had to hire third party verifiers to root out produce that contains pesticide residue despite organic seals. Some supposedly organic producers are certifying conventionally-grown produce in order to increase the price.
Tesco, Britain's biggest retailer, has shown it operates best in tough markets, racking up a 10.3 per cent increase in profit of €1,824 billion for the first six months of 2008 to 23 August. Total sales rose 13.8 per cent to €32.1 billion.