In its quest to gain profits from brick-and-mortar sales using big data, Chinese e-tail behemoth Alibaba has partnered with another retailer, the largest to date. Also, due to their inability to agree on the terms for a deal to form Africa's largest retailer, talks between Steinhoff and Shoprite have ended. Have a great day, and if you enjoy this edition of RetailUpdate, please share.
AFRICA & USA
Steinhoff/Shoprite talks are over
Negotiations to create Africa’s largest retailer have ceased between the two companies because they were unable to agree on the share-exchange ratio for the proposed deal. Investors approved of the move, and the share prices of Shoprite and Steinhoff increased 6.1% and 7.11% respectively.
Source Great British Foods at IFE 2017
IFE 2017 (The International Food & Drink Event) takes place 19-22 March at ExCeL London. The UK's biggest food & drink event will be packed with innovative food & drink products from 1,350 suppliers. IFE is divided into 9 easy to navigate sections, including a Great British & Irish foods section. Find inspiration for your retail shelves at the show - get your free trade ticket at
New partnership for Alibaba
The Chinese e-commerce giant has formed another strategic partnership. This time it has teamed up with Shanghai-based Bailian Group, the largest retailer to join forces with Alibaba so far in its push to apply big data to boost profits from brick-and-mortar sales. +++ Ant Financial, the company that manages Alipay, has extended its global reach once again and invested an undisclosed sum in Mynt, a financial venture from Globe Telecom in the Philippines.
Bo’s Coffee nears one hundred
The Filipino coffee chain plans to open its 100th store in a couple of months. Bo’s also intends to launch its first international store soon after in Qatar following the securing of licensing.
Steady growth for online retail
UK year-on-year online retail sales were up 12% in January, according to latest figures from the IMRG Capgemini e-Retail Sales Index, and the average basket of goods ordered online during that month was valued at GBP 85, up from GBP 79 the previous year.