Hello, dear reader!
Big-box retailer Walmart fuels the price war in the US, taking on discounter Aldi and putting pressure on its suppliers. Over in the UK, Tesco makes headlines with its decision to cut thousands of manager jobs and in Asia, Germany's Metro Group reveals plans for Myanmar. Enjoy your Tuesday bulletin and feel free to share it.
USA & Canada
Finance service provider Mastercard and tech major Oracle have entered a partnership to streamline in-store digital payments. Targeting retail stores, restaurants and hotels, their joint platform promises to reduce friction and offer more security for consumers.
Brexit boost for Lidl
The German discounter takes advantage of the weaker pound by ramping up shipments of British products to its stores across Europe, exporting GBP 300 million worth UK goods, particularly meat and vegetables. The company is expected to use cost savings on its refurbishment programme to offset currency costs.
Retailer Système U has posted a 1.2% increase in sales to EUR 23.7 billion for 2016, its convenience stores division enjoyed a 9.4% increase to EUR 2.12 billion, while compatriot Intermarché expands in Portugal, where the company recently opened two hypermarkets with a new concept.
Asia & South Pacific
Metro partners in Myanmar
The Düsseldorf-based international retailer has teamed up with Singapore-listed Yoma Strategic Holdings to establish an integrated wholesale distribution platform in the country. Metro Myanmar is looking at improving the nation’s supply chain. The German group will hold an 85% stake.
Kiwifruit marketer Zespri has signed a statement of intent for commercial opportunities in Iran and produce company Seeka, which handled a record volume of New Zealand kiwifruit, has reported a significant profit growth as it continues to invest in improving its infrastructure.
Online versus in-store pricing
Brick-and-mortar retailers have been struggling with pricing since Amazon arrived, 23 years ago. Gaining clarity whether prices should be the same online and in stores is critical for them to successfully compete in both environments, explains the Harvard Business Review.
350,000 tonnes of avoidable household food waste, worth an estimated GBP 1 billion annually, could be prevented through further packaging and food label changes at key food items in British supermarkets, according to an analysis by global compliance experts WRAPS's latest retailer survey.