Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Monday, 27 June 2016

Greetings!
The world has tipped out of balance last Friday and after the weekend everyone is busy assessing the implications and consequences of the British vote to exit the European Union. In other news, allegations have been made against Woolworths in Australia, Spanish Mercadona is set to enter its first foreign market, and Macy's has named the successor for its current CEO. Have a good start into the new week - it is certainly going to be an interesting one.


Asia & Australia
JD.com hard on Alibaba's heels   Implying a rather aggressive strategy, China’s second-largest online company is rattling at the throne of Alibaba's empire, which stretches much further than what catches the eye. During its annual midyear sale, JD.com generated more than 100 million orders in a single day, a 60% increase over last year. ▪
Commitments and aspirations   Central Food Retail, a subsidiary of Thai family-owned conglomerate Central Group, commits to spend US$ 183 million to open new Tops Supermarket stores during the next five years. In India, Coca-Cola aims to turn fruit drink Maaza into a US$1 billion brand by 2023.  ▪
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Woolies in the pillory   Australia's Fair Work Ombudsman has heavily criticised the retailer over the underpayment of trolley collectors working at its supermarkets. ▪
europe
Discounters unperturbed   While Lidl owner Schwarz Group plans to invest EUR 6.5 billion into revamping its stores and improving ranges, with more than EUR 3 billion going into its 3,200 German Lidl stores, the discounter's investment plans for Britain are not endangered by Brexit. The German discounters are more likely to benefit from the vote than their competitors. ▪
Expansions and divestments   Spanish family-owned supermarket chain Mercadona is set to enter the Portuguese market in its first foreign investment in 2019. Finnish retailer Kesko might be divesting its nine outlets in the St Petersburg area (paywall), of which only two are profitable. ▪
Carrefour goes 'Now'   The French retailer will soon compete with Amazon Prime Now, which first launched in France on 16 June, by trialling its own 'Now' service which will deliver goods within one hour. In the U.A.E., Carrefour has been announced as the hypermarket of Abu Dhabi’s US$ 1 billion Reem Mall, which is planned to open in late 2018.  ▪
USA
New head at Macy's   Jeff Gennette has been revealed to take over as CEO of the department store icon in the beginning of 2017. Current CEO Terry Lundgren will remain with the company as executive chairman.  ▪
Amazon grows sales   The e-commerce giant has not only overtaken Walmart in electronics sales and is now in second place behind Best Buy, it has also increased its direct fashion sales, and is further expected to add dozens of new brands for Dash buttons ▪
Walmart fights food waste   While next month's deadline is drawing close, roughly 70% of the retailer's suppliers have complied with the new standards required for the date label for non-perishable foods: “Best if used by”. ▪
In the wake of brexit
Post-Brexit   The British vote sent the world markets skidding in the biggest daily loss ever with US$ 2.08 trillion wiped off global equity markets. The turbulences are expected to last for a while. ▪
What's nexit   Small UK businesses see Brexit as a possible opportunity and ask for clarity from the government on issues such as the single market and free movement of people. European farmers are concerned about the development, while the British food and drink industry urges the government to make quick new arrangements for British farmers. Many retail leaders in the country call for calm. ▪
Regrexit   Another petition has been initiated. This one calls for a second Brexit referendum if the winning campaign garnered less than 60% of the vote and voter turnout was less than 75% (both of which were true for last Friday's vote). It has been signed by more than 3 million people and counting. ▪

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