Choithrams CEO sees rising competition in UAE
As part of an interview with Arabian Business, Choithrams’ CEO, Rajiv Warrier, has said the local market has become ‘much more competitive… than it was a few years back.’ Warrier said the rising competition meant it was a great time to be a shopper, but was creating challenges for retailers. To compete Warrier said Choithrams would look to adapt its offer to meet the new demands from shoppers. From a channel point of view this is seeing it investigate opportunities within ecommerce, while it could also lead to it expanding further in Bahrain.
Source: retailanalysis.igd.com
Spain: El Corte Inglés puts 95 real estate assets on sale
El Corte Inglés will launch in the coming days a process of disinvestment of non-strategic real estate assets that includes 14 commercial and office buildings, 65 real estate assets of various kinds, and 16 land parcels. Altogether, it is about 95 non-strategic assets that the Real Estate division of PricewaterhouseCoopers (PwC) will be responsible for managing in order to close the sale of part of the portfolio throughout this year, as confirmed to Europa Press in sources of the distribution group. It is a first phase within the strategy of disinvestment of real estate assets that was communicated to the market last December. In the coming days, the process of inviting investors to start receiving bids at the end of April will be opened and, subsequently, the corresponding negotiations will begin. The amount of operations that close during the year will be used mainly to reduce debt. The portfolio, which amounts to just over 1.2mln square meters, is structured in three segments, depending on the type of assets: retail establishments and offices, other types of properties, and land. Investors may submit bids for both individual assets and any combination of real estate or portfolio segments. The active objects of the operation are located in different places of the Spanish geography, but with a greater concentration in the provinces of Madrid, Barcelona, Malaga and Seville.
Source: internationalsupermarketnews.com
UK: Nisa to roll out 1,000 Co-op own brand products
Nisa has announced that from April 2019 it will roll out approximately 1,000 Co-op own brand products across fresh and ambient, bringing the total number available to Nisa and Costcutter Supermarkets Group (CSG) retailers to almost 2,000, more than 80% of the Co-op range. The extended range will be rolled out on a category-by-category basis throughout April. To aid retailers in meeting the needs of their customers, both Nisa and CSG, have created guides which demonstrate the optimum range of own brand products to stock based on their store size.
Source: forecourttrader.co.uk
Australia: Woolworths to shut 30 BIG W stores
Australia’s biggest supermarket chain, Woolworths Group Ltd, said it would close 30 stores of discount department store chain BIG W over the next three years, along with two distribution centers. The company pegged the cost of exiting these sites at about A$270mln ($191.8mln).
Source: reuters.com
India: Online grocer BigBasket raises $150mln for expansion
BigBasket, India’s biggest online supermarket, is in the process of raising about $150mln in funding from investors including Alibaba. South Korean firm Mirae Asset and U.K. government-backed development finance institution CDC Group are also contributing to the round, according to Deal Street Asia. This latest round of funding brings the startup’s valuation to between $2bln and $2.3bln. Bangalore-based BigBasket plans to use the funds to expand across major metro areas in the country, acquire smaller startups and expand into new categories, including beauty products and meat. A filing from the Ministry of Corporate Affairs revealed that Alibaba will subscribe to 437,500 Series F compulsory convertible preference shares (CCPS) for $50mln, while Mirae Asset will be given 524,990 CCPS at a value of $114.29 per share, or $59.9mln. CDC will get 350,000 CCPS for $40mln.
Source: pymnts.com
UK: Central England Co-op announces FY2018 results
Regional co-operative retailer Central England Co-op has announced its full year 2018 results to 26 January 2019. Sales grew by 2.5% to £869.9mln, while trading profit was up 4.4% to £18.1mln. Central England Co-op announced strong performance in its food business. Sales increased across its convenience stores, with strong trading during key seasonal events and following the record summer temperatures. As part of the retailer’s continuing major investment plan, ten new food stores were opened in 2018, as well as the refurbishment of a further 35 stores.
Source: retailanalysis.igd.com
Egypt: In-store shopping still dominates MENA, mobile payments witness 45% growth
In-store is still the shopping channel of choice in both the Middle East and at the global level, though smartphones are running a close second, especially in the region, according to 2019 Global Consumer Insights Survey published by PricewaterhouseCoopers (PwC). Remarkably, the report indicates that this year, for the first time, smartphones outpaced PCs as a channel, as 33% of the product purchases in the MENA (Middle East and North Africa) region were from smartphones. In regards to payment methods, the report indicates that payment through in-store apps leads the way. PwC's survey reveals that the biggest growth in mobile payment was experienced in the MENA, which was up by 20% to reach 45%. In geographical terms, Saudi Arabia is in the lead, followed closely by the UAE. Egypt lags behind with only 29% choosing mobile payment.
Source: menafn.com
Carrefour goes 24 hours in France
Local trade publication LSA has reported that Carrefour has opened its first 24-hour store in France, following successful trials in Italy and Spain. The Carrefour City in Paris’s 7th arrondissement is set to see its already long opening hours extended to enable shoppers to buy from it at any time of the day. Between 23.30 and 07.00 shoppers will use one of eight self-checkouts to pay for their products. If the move proves successful, Carrefour could extend 24 hour operating times to further stores.
Source: retailanalysis.igd.com
Amazon cuts prices on hundreds of Whole Foods products
Amazon will cut prices on hundreds of products at Whole Foods beginning Wednesday, according to a press release from Whole Foods Market. This is the third round of price cuts since Amazon first acquired Whole Foods in 2017, and according to a Wall Street Journal report they will last through the end of this year. Whole Foods will reduce prices by an average of 20% on select items throughout the store, with an emphasis on peak-of-season produce, the company said. Large yellow mangoes will be priced at $1 each, a 12-ounce carton of mixed-medley cherry tomatoes will be priced at $3.49 and a bunch of organic rainbow chard will be $1.99. Prime members will receive double the weekly discounts, with more than 300 Prime deals expected in the next few months. In April, Prime members will see deals such as 35% off sustainable, wild-caught halibut fillets, a $2 price drop to $2.99 per pound on organic strawberries and 20% off sandwiches and wraps. Beginning Wednesday and lasting until the end of the month, Whole Foods will also offer $10 off any order of $20 or more to customers who sign up for Prime.
Source: grocerydive.com
US: Walmart teams up with Google to offer voice-activated grocery shopping
Walmart customers will be able to order groceries with voice commands through Google’s smart-home assistant, the retail giant announced in its latest effort to compete with Amazon. Starting this month, shoppers will be to add items directly to their Walmart Grocery cart using Google Assistant by saying “Hey Google, talk to Walmart.” In a blog post Walmart hinted that voice shopping might be available with other partners in the future. “We’re kicking off the work with Google, adding others to the mix as time goes on”, Walmart U.S. senior vice president Tom Ward said in the statement. The voice commands work on any device with Google Assistant, including Google’s Home Hub, Android phones and iPhones, Ward said.
Source: cnbc.com
US: Meijer set to open new supercenters in northeast Ohio
Midwest superstore retailer Meijer has confirmed Tuesday, May 14, as the opening date for its three new supercenters in the northeast Ohio communities of Avon, Mentor and Stow. The Michigan-based retailer revealed its expansion into northeast Ohio in 2017. "We're extremely excited to open the doors to our newest stores here in northeast Ohio," said Tom Wilson, Meijer’s regional VP. "For the last 40 years, customers across the state have enjoyed our fresh grocery options, wide selection of general merchandise and overall value. Now we're getting ready to bring our one-stop shopping experience to Avon, Mentor and Stow."
Source: progressivegrocer.com