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Indian online marketplace Snapdeal hires high-profile executive, sales continue to worsen for Sainsbury’s, Ahold launches their “Winning Together” initiative and more young Germans are turning away from meat. All these stories and more in today’s RetailUpdate.
asia & australia
Amazon opens doors for Indian businesses The e-commerce giant has launched its Global Selling programme in India in an effort to transform the way India sells. They will be extending two of their products: Selling on Amazon (SOA) and Fulfilment by Amazon (FOA) to businesses of all sizes. Meanwhile, the Indian state of Telangana is set to become Amazon’s biggest Indian hub.
Snapdeal owner hires high-profile executive Former Bharti Airtel senior executive Anand Chandrasekaran has been hired as chief product officer by Snapdeal owner, Jasper Infotech. This development comes three months after arch rival Flipkart hired a former Google executive .
C-star is China's most international retail show
The first edition C-star was a huge success. On a net exhibition space of 5000 square meters, C-star featured 162 exhibitors from 23 countries. Despite being held for the first time, 5721 visitors from 59 countries and regions came to visit the show, with 18% coming from overseas. This makes C-star China's most international retail trade show.
Join us next year for another exciting edition of C-star!
SCA makes plans to expand In order to fund four more shopping centres, SCA Property Group has lifted its full-year earnings guidance and announced a AUS$ 50 million capital raising. The Australian shopping centre owner expects to purchase four more centres in Queensland and Tasmania.
Bayer sells to Panasonic The German pharmaceutical group has announced it will sell its diabetes business to Panasonic Healthcare. The Japanese medical giant agreed to pay US$ 1.2 billion for the unit, which it will combine with its own blood glucose monitoring business. Investors and analysts have long expected Bayer to shed the diabetes unit (paywall), which produces devices for monitoring blood glucose levels.
Sales keep sliding for Sainsbury’s On the back of food price deflation and strong competition, the UK supermarket chain has posted a sixth straight quarter of falling underlying sales. Sainsbury’s like-for-like sales during the 12 weeks to 6 June fell 2.1%.
Spar hits the road In a partnership with motorway services operator Roadchef, Spar UK has agreed to open stores at key transit locations. The first test store will open next month. If all goes to plan, the Dutch retail chain will operate across 29 Roadchef sites +++ Waitrose has been voted UK’s favourite supermarket, and Tesco least favourite.
Ahold “Winning Together” After over a year of restructuring its merchandising programmes, with a vertical instead of horizontal approach, the Dutch retailer’s US arm is set to launch its “Winning Together” initiative with vendors.
Retailer doubles share buyback authorization Target Group is increasing its share buyback authorisation twofold from US$ 5 billion to US$ 10 billion. The US retailer says this plan represents a continued focus on returning cash to shareholders.
Alibaba has no plans for US domination In an effort to dispel “misconceptions”, the e-commerce giant’s chief executive, Jack Ma, is visiting the US this week. Mr Ma says that the Alibaba Group doesn’t aim to fight for US market share; instead they want to help small US businesses sell more goods in China.
Thrifty consumers create more food waste Research conducted by the Cornell Food and Brand Lab found that strategies to save money are, in fact, generating more food waste. Buying too much, preparing in abundance, unwillingness to eat leftovers, and poor food storage are the main causes.