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.
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.
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.
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.
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.