In India, Flipkart, Amazon and Snapdeal are accused of engaging in business-to-consumer activity. In the US, documents filed to the Securities and Exchange Commission state the Walgreens Boots Alliance and Rite Aid merger must be completed by October 27, 2016. And in the UK, High Street fears a global downturn. All these stories and more are in today’s RetailUpdate. Oh, and if you enjoy this issue, don’t forget to share.
China leads the world in e-commerce Overtaking the US, China has become the world’s largest e-commerce market. China’s e-commerce earnings grossed US$ 439 million in 2014, which was 7% of the country’s GDP.
Third Point acquires stake in Seven & I Holdings Third Point LLC has acquired a stake in Seven and I Holdings, Japan’s second-largest grocery and retail group. The New York-based company, owned by activist investor Daniel Loeb, proposes that the Japanese Company’s Ito-Yokado Co be restructured as a standalone company.
High Street fears downturn Consumer confidence is low and retail sales have lost momentum, according to research from GfK and CBI. Consumers are concerned about a downturn in the global economy as well as rises in interest rates and cuts in government spending.
WBA may divest up to 1,000 stores According to documents filed to the Securities and Exchange Commission, the merger between Walgreens Boots Alliance and Rite Aid must be completed by October 27, 2016. To assure they get approval, Walgreens is willing to divest up to 1000 locations. According to a report by International Business Times, the merger is likely to go ahead, despite the concerns of smaller pharmacies.
developments to watch
Consumers accept social commerce Consumers are rapidly accepting social commerce, according to a survey from Citi Retail Services. In fact, of the more than 1,500 US respondents, 58% said they follow retailers on social media, particularly Facebook.
Omni-channels are best Why sell through one channel when there are many? And today's consumers want to buy any time and from anywhere. So, retailers mustn’t limit themselves to just one channel. And, all touch-points for online, brick and mortar and social media, etc. must be consistent.