Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

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Aldi reveals big profits in Australia while defending its tax record, Tesco plans bonuses for employees who meet financial targets and online shopping is rising rapidly in developed countries. All these stories and more in today’s RetailUpdate. Have a great day.

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asia
Big profits down under for Aldi   In a bid to defend its record of paying taxes, the German retailer has revealed profits in Australia have more than doubled over three years, and their pre-tax profit margin in 2013 was higher than larger rival Coles.   ▪
Walmart India partners with telco   Walmart India has partnered with Vodafone to enable members of its Best price Wholesale stores to make payments using the telco's mobile wallet service M-Pesa. ▪
Xiaomi set to launch new device   The Chinese tech start-up has announced plans to launch its Mi Box, a device that converts a TV into a smart device. The launch is expected at the end of the year. Meanwhile, Xiaomi let down customers in Brazil by failing to meet online demand for its smart phone Redmi2. ▪
europe
Sainsbury’s slashes diesel prices   Following the announcement that fuel duty will remain the same in Britain this year, the supermarket chain has cut the price of diesel across its 300 forecourts. Meanwhile, Sainsbury faces legal action from four female employees claiming pay inequality. ▪
Concerns over Yoox and Net-a-Porter partnership   The Competition and Markets Authority is looking into the partnership between global internet retailing partner Yoox and high-end e-tailer Net-a-Porter. There are concerns the partnership could reduce competition for UK shoppers who buy luxury goods online. ▪
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Bonus plans revealed for Tesco staff   As part of CEO Dave Lewis’ Big Six strategy, Tesco staff will receive bonuses of up to 5% if they meet financial targets. The move comes as the retailer fights back against fast-expanding discount chains Aldi and Lidl and deals with slumping food commodity prices and changing shopper habits. Meanwhile, Tesco has angered customers by increasing the minimum spend for deliveries for online orders. ▪
usa
First grocery app for Apple watch   Canadian grocer Metro says they have created the first-ever grocery app for the Apple watch. The app allows users to view grocery lists and check off items. ▪
PepsiCo raises prices for improved results   PepsiCo is using more expensive products to boost sales. And despite flat volume, revenue for the snack and beverage maker rose for each of its Frito-Lay North America and PepsiCo Americas Beverages units during the second quarter. ▪
retail online
Rapid growth in online shopping   According to a new report from market researchers at Syndy, online shopping is growing at a rapid pace — some brands claim that up to half of their sales come from e-commerce. The report profiles the online shopping habits of The Netherlands, UK, France, Germany and the USA. ▪
Digital still needs brick-and-mortar stores   Despite retail entering a true “Digital Age”, physical stores are still an important part of any retailer’s omnichannel strategy.  Tech Bytes gives three reasons why. ▪

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