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Retail Update - powered by LebensmittelZeitung

Hello, subscribers!
Shanghai retailers enjoyed record sales over the holiday period, A & P stores fail to sell and high street retailer Argos is now offering same-day deliveries. All these stories and more feature in today’s RetailUpdate. And if you enjoy this edition, please don’t forget to share it. Have a great day!


asia
Walmart plans new stores in India   The retail giant plans to grow its Indian network by opening five new stores in Himachal Pradesh. The investment is expected to amount to about $US 10 million and generate 2,000 new jobs. ▪
Forest fires lead to product removals   Singapore’s largest supermarket chain is taking toilet rolls and other products produced by Asia Pulp & Paper (APP) off their shelves. This is in response to APP being held responsible for recent forest fires that swept through Southeast Asia. ▪
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Holiday shopping high in Shanghai   Over the holiday period from September 24 to yesterday, retail sales in China’s most populated city were 10.3% higher than the same period last year. Of all outlets, only convenience stores reported a decline in sales. ▪
europe
Tesco’s earnings plummet     Yesterday, the British grocery retailer reported a drop of 70% in half-year earnings in the UK and Ireland. Sales are down 1.3%. CEO, Dave Lewis is defending Tesco and says, “The first half results show sustained improvement across a broad range of key indicators.” Here is what the analysts say. ▪
High street retailer offers same-day service   Argos is now offering a same-day delivery service across the UK, and they are the first high street retailer to do so.  The new Fast-Track home delivery service has led to almost 3,300 new driver jobs. ▪
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Food prices drop in September   As grocers prepare to face off in the weeks leading to Christmas, newly release industry figures show that food prices fell 0.5% after a 0.2% rise in August. Products like meat and fish saw the biggest declines. ▪
usa
A&P stores don't sell   Of the 108 A&P stores in the first auction, 36 received winning bids, which means only one in three came back with bids, the troubled retailer revealed in a document filed with U.S. Bankruptcy Court.  With more than 80 supermarkets and nearly 20 liquor stores left to sell, A&P will hold a third round of auctions today in New York +++ Meanwhile, Target is showing off its new SuperTarget store (paywall) in Minnetonka, Minnesota. ▪
Jet.com jettisons membership fee   Just three months after its launch, the fledgling online marketplace is cancelling its $50 annual membership fee in order to broaden its appeal. Now, without one of its biggest revenue earners, Jet will have to grow rapidly to a size where profits margins are better. ▪
New appointments   Fred’s Super Dollar has appointed former Walgreens senior operator John Foley as company executive of VP store operations. He is replacing Mike Holligan, who will become regional VP of store operations +++ The chairman and CEO of the TJX department store companies, Carol Meyrowitz, will step down on January 31, 2016. Ms Meyrowitz will be replaced by Ernie Herrman who will keep his current title of president. ▪
thought-provoking reads
Stick to the KISS rule   The results of a new online survey by PCA Predict indicate that online retailers should stick to the KISS principle: Keep It Simple, Silly. Of the 300 consumers surveyed, 84% said they abandon e-commerce order forms if they are too long and complicated. ▪
Fraud costs digital goods retailers millions   According to a new study conducted by Javelin, retailers that sell digital products such as streamed movies and MP3s each spend on average a massive US$ 10.1 million every year due to fraud — and this doesn’t count typical frauds such chargeback fees or loss of goods. ▪

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