Hello, dear reader!
It is that time of the year again, where all sorts of public holidays force retailers to take action. China's Alibaba has obviously hit the ground running and is making billions with its Singles Day offers. Over in the US, single adults are a billion-dollar but often ignored target group. Enjoy the read and share the news.
australia & asia
Alibaba profits from Singles Day frenzy Within minutes after the start of the world's biggest online shopping holiday, the online giant reported sales of US$ 1 billion. According to Nielsen China, online shopping festivals such as Singles Day are a key driver for online sales.
europe & Middle east
Ocado on the hunt The technology department of the British online supermarket Ocado Technology is looking to hire 300 hardware and software engineers, as part of its plans to help develop the online infrastructure for other grocery businesses around the world.
Merck gets billion-dollar deal The Germany-based pharma multi has been given the green light by the European Commission to complete its US$ 17 billion acquisition of Sigma-Aldrich, an American multinational chemical, life science and biotechnology company.
usa & Canada
Albertsons wants Haggen stores back The Idaho-based grocery company is bidding on 36 of 95 stores being sold by the now-bankrupt Haggen. Albertsons had previously sold 146 stores to the latter as part of its acquisition of Safeway. The company also announced that the US$ 4.8 million renovation of its Culinary Kitchen & Technical Centre is completed.
Toy industry enjoys stellar year Annual toy sales are projected to rise 6.2% to US$ 19.9 billion in 2015, according to NPD Group, a market research firm that tracks about 80% of the US toy market. This is the biggest increase in at least 10 years.
Billions at stake Single adults are being overlooked or misrepresented by US marketers and retailers, according to a new report. This is a shame as the spending power in just one subset, 35 to 54 year old singles, equals US$ 567 billion.
No plans to buy Shoprite Nakumatt is one of East Africa's largest retail chains. Thiagarajan Ramamurthy, the company’s strategy director, shares his ideas about future plans and the general outlook of the supermarket business in Africa.