Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Friday, 21 October 2016

Greetings!
The price wars continue. In the US, Walmart battles its competitors with an aggressive price-cut strategy, while in the UK, Tesco is hitting a blow at Sainsbury's-owned Argos. Alibaba and Walmart both make a move before the upcoming 'Singles Day', one of the largest online shopping days in the world. Find out about these stories and more. Enjoy the read and have a lovely weekend!

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Asia & Australia
Alibaba in anticipation   The Chinese e-commerce giant is looking to raise US$ 1 billion for its Koubei expansion, a local service platform engaged in online orders meant for offline services. Three weeks before its mega sales day 'Singles Day', Alibaba has already started the countdown with special offers and promotions. ▪
A taste for China   Setting its sights on taking its share in 'Singles Day', Walmart has opened a store on JD.com's online shopping platform +++ As consumption of Western-style consumer goods grows, Australian-New Zealand food company Sanitarium is set to make its biggest push yet into the Chinese market.  ▪
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Partnerships Down Under   While supermarket chain Coles has launched a new rewards partnership with the country's second largest airline, Virgin, competitor Woolies is stirring up the Australian underwear market by entering a partnership with New Zealand-based lingerie store Bendon. ▪
europe
Tesco attacks   The British grocer has launched a price promise pledging to match catalogue retailer Argos’s prices on 8,000 toys this Christmas. ▪
Troubled ex-execs   The trial against the three former Tesco executives charged with accounting fraud will be held in September 2017. The motion to strip Sir Philip Green of his knighthood over his role in the collapse of retail store chain BHS has been backed by an unanimous vote in the House of Commons. ▪
Innovative ideas   Dutch supermarket chain Jumbo has opened a pop-up bus-stop shop in Utrecht as part of its 'Easily Ordered, Quickly Delivered' campaign. Shoppers at one of the pilot stores of Serbia's largest retail chain Idea can pick their own fresh salad from an in-store garden. Earlier this year a vertical garden has been launched in a supermarket in Berlin in a cooperation between Metro and Infarm. ▪
USA
Price war casualties   With its new aggressive pricing strategy, Walmart aims a blow against the likes of Target, Dollar General, and Family Dollar. Following the announced sale of Supervalu's Save-A-Lot chain, the future of the company's regional chains, which constantly have been losing market share to the lower priced chains, is uncertain.  ▪
Ebay grows Artificial Intelligence   The e-commerce powerhouse, that forecasts results for the holiday shopping season to remain largely below market estimates, is trying to lure customers with a new Facebook Messenger application called ShopBot, which offers personalised shopping assistance. Ebay spin-off PayPal, however, reported an 18.1% rise in quarterly revenue. ▪
Spreading out online   US online fashion and home décor retailer Rue La La is expanding its e-commerce sales to 219 countries outside its home country ▪
developments to watch
Bitcoin ready for take off   Even though its adoption might not come quickly, the technology for the digital currency is already here. The implementation of blockchain-driven Bitcoin could take off markedly if even one large retailer starts using it. ▪
Get it fixed   As the catchword 'sustainability' gains momentum, a 'right to repair' movement has globally formed in the last few years. Now, a legislative proposal in Sweden suggests tax reductions to jump start a home repairs industry in the country, in turn creating jobs for low-skilled immigrants. ▪

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