Singapore retail sales fall 52.1% in record drop in May during COVID-19 circuit breaker
Singapore’s total retail sales fell a record 52.1% on a year-on-year basis in May, while the country was still under a COVID-19 “circuit breaker”, according to data released by the Department of Statistics (SingStat). The drop was the steepest since records began in 1986, beating April’s previous record. The lower sales were "due mainly" to the circuit breaker measures that were in place for the month of May, SingStat said.
Online shopping in France on rise before coronavirus
France's recent coronavirus lockdown has boosted online shopping as consumers turned to the internet to buy food and other products. According to the Fédération du e-commerce et de la vente à distance (FEVAD), retail ecommerce sales in France were down in March 2020 but recovered rapidly in April. French supermarket giants E.Leclerc and Intermarché have enjoyed the greatest success online - the latter saw online sales jump 80% between May 18 and June 14, compared to the same period last year. Click and collect sales at the former, meanwhile, has risen 35%.
Italy: Conad Nord Ovest reports positive year, plans investment
Italian cooperative Conad Nord Ovest has reported a turnover of €4bln and a net profit of €48.1mln in its 2019 financial year. This was the first financial report issued by the group, which was established in October 2019 from the merger of regional cooperatives Conad del Tirreno and Nordiconad, as part of a strategy to boost the Conad system. The results are especially encouraging as they were achieved in a context that saw national consumption recording modest growth (+0.4%), reports La Repubblica.
UK: Retailers join forces for net zero sustainability push
Some of the biggest names in retail have backed a drive to address the causes of climate change ahead of the government’s target. The initiative, coordinated by the British Retail Consortium (BRC), is designed to “develop a ground-breaking decarbonisation plan that will guide the industry on the steps necessary to accelerate progress to a Net Zero UK” ahead of the official target date of 2050. Aldi, Amazon, Boots UK, Central England Co-operative, the Co-op, Costa Coffee, Dixons Carphone, Greggs, Ikea UK and Ireland, Kingfisher, Lidl GB, Marks & Spencer, Missguided, Morrisons, Musgrave, Next, Ocado Retail, TJX UK and WHSmith are all supporting the push.
France: Zouari Group announces intention to buy organic chain Bio c’Bon
The Zouari Group has announced its intentions to acquire France's Bio c'Bon chain, which specialises in the distribution of organic products, according to local media reports. The chain, which currently boasts 158 stores and 1,500 employees, was founded in 2008 by Thierry Brissaud and has grown to become the third largest organic retail banner in France. The chain also operates forty foreign stores, in Belgium, Italy, Japan, Spain and Switzerland.
JD Worldwide to introduce more Korean brands in China
JD Worldwide has teamed with LG and Korea International Trade Association (KITA) to introduce more Korean brands to Chinese customers. “The epidemic has encouraged more Chinese consumers to shop online. With this trend, we will put more effort into helping South Korean brands export to China through e-commerce platforms”, said Park Min Young, chief KITA Beijing representative. Under the partnership, LG will be responsible for supply-chain management to provide South Korean products to JD while KITA will support SMEs entering Chinese market.
Coronavirus: UK Supermarket price war as unemployment rises
Supermarkets are gearing up for a price war as unemployment rates are forecast to hit more than 4mln. The big four - Tesco, Sainsburys, Morrisons and Asda - are concerned that discount stores Lidl and Aldi will make large market-share gains, as they did after the 2008 financial crisis. More than 14,000 jobs were lost, as the pandemic continues to wreak havoc across the economy. This coincides with food price inflation rising to 4%, far ahead of the 0.5% rate of inflation, which is squeezing household finances further.
Penny Germany rolls out Scan and Go to 100 stores
Penny, Rewe’s discount banner, has rolled out its Scan and Go app at 100 stores on 29 June. This is part of the retailer’s recent strategy to enhance its model and enable a more frictionless, in-store customer journey. The new solution aims at easing and accelerating the payment process, usually a point of friction at discounters. Penny is the first discounter in Germany to launch a scan, pay and go solution. When entering the store, shoppers need to scan a QR code with the Scan and Go app to identify their location. They then start shopping. The app is very standard and enables them to scan all products, including fresh produce. Once they finish shopping, the app will generate a specific QR code to be scanned at a dedicated self-checkout, where shoppers can pay by card only.
US: Brookshire Brothers optimizes its inventory management
Brookshire Brothers is implementing Itasca Retail’s Magic computer generated ordering and direct store delivery (DSD) receiving solution in order to advance its inventory management. The solution uses uses historical sales data and current shelf and selling conditions to calculate the exact right order amounts for tens of thousands of items at any time of the day.
Amazon facilities in Kenosha sold for $176mln
Amazon’s massive fulfillment center and neighboring distribution center in Kenosha have been acquired by a New York-based investment firm for $176mln, according to state records. Records indicate an affiliate of Kohlberg Kravis Roberts & Co. L.P. purchased the two buildings. The 1.1mln-square-foot fulfillment center, located at 3501 120th Ave., was sold for $119.2mln, and the neighboring 500,000-square-foot distribution facility at 11211 Burlington Road went for $56.8mln. The seller is an affiliate of San Francisco-based Prologis.
US: Uber works up an appetite with $2.65bln buy of food app Postmates
Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65bln all-stock takeover. Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber's combined delivery business, according to a person who asked not to be identified discussing a private deal. It is not immediately clear what role, if any, Postmates CEO Bastian Lehmann will take up following the acquisition. The takeover would help Uber gain ground against privately-held DoorDash Inc., the current market leader in US food delivery. While Postmates hasn't kept pace with DoorDash, it maintains a strong position in Los Angeles and the American southwest, both of which could be valuable to Uber Eats.