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Retail Update - powered by LebensmittelZeitung
Friday, 13 May 2016

Hello, subscribers!
South Korea's Lotte Group is taking on Apple Pay and Samsung with its very own payment, Germany's Aldi reveals the “store of the future,” and a leading US retailer challenges Amazon Prime. Have a great weekend, and if you enjoy this edition please share.

asia & saudi arabia
Lotte accelerates ahead   In order to establish omnichannel solutions and play its part in the mobile payments sector, the South Korean retail conglomerate is accelerating the promotion of Lotte L Pay, its own mobile payment platform. In Vietnam, the group’s hypermarket chain has reported sales last year of US$ 221.58 million, 30% year-on-year growth. ▪
Alibaba scraps below-par appliances   In response to customer complaints, the e-commerce behemoth has banned 14 types of small home appliances from its shopping platforms Taobao and Tmall. ▪
Saudi Arabia woos retail    In an effort to attract investment from mega mall developers and create a million new jobs, Saudi Arabia is offering for the first time full foreign ownership rights in the retail sector. ▪
Windfall for Tesco CEO   While Irish employees plan to strike next week over contracts, Tesco's CEO, Dave Lewis, has received a GBP 3 bonus for guiding the retailer back in the black. ▪
Retail acquisitions   As it strives to become a one-stop-shop for its customers, Germany's Metro Group has acquired a stake in start-up Orderbird, which provides iPad-based POS systems for restaurants +++ In France, Casino will buy out its own online retail business, Cnova NV, for US$ 196 million due to troubles in Brazil that have scuttled its e-commerce business. ▪
Aldi’s “store of the future” revealed   The German discounter has launched a new store concept, which it says is the “store of the future.” The concept, which incorporates a seating area behind checkout and in-store coffee machines, is planned for all stores by 2019. Pictures of the store on ▪
Walmart takes on Amazon   The US retail giant is trialling a new version of its paid ShippingPass unlimited online delivery programme. At US$ 49 per year, about half the price of Amazon Prime, customers can get two-day delivery for over one million items. ▪
First-quarter blues   Following on from axing 400 jobs in April, luxury department store Nordstrom has reported a fall in first-quarter net income of almost two-thirds to US$ 46 million +++ Department store company Kohl's fared worse with a first-quarter drop in net income of 87%. ▪
FedEx and eBay cooperate   The courier deliver service and e-commerce company have teamed up to make selling used goods online easier. Sellers can now drop off items worth more than US$ 25 at over 1,600 FedEx stores and receive help listing them on eBay. ▪
“Bread cartel” battle continues   Following a settlement with Premier Foods, the Competition Commission and several civil society organisations will continue with damage claims against the other members of the “bread cartel,” Pioneer Foods, Tiger Brands and Foodcorp. ▪
First-quarter growth for Mondi   The Johannesburg-based consumer packaging good manufacturer has reported first-quarter growth in earnings of 14%. ▪
Egypt takes second place   According to the International Monetary Fund's latest World Economic Outlook, Egypt has overtaken South Africa as Africa’s second-largest economy, due largely to depreciation of the rand. Nigeria holds the number-one spot. ▪

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