US: New FMI report finds grocers invested $24bln to meet increased consumer demands and operate safely amid Covid-19
One year since the World Health Organization declared COVID-19 a global pandemic, FMI-The Food Industry Association released a new report, Receipts from the Pandemic: Grocery Store Investments Amid COVID-19 and the Resulting Economics of an Essential Industry, sharing that the food retail industry invested $24bln in response to the dramatic changes in Americans’ shopping and food consumption habits amid the pandemic. Grocers’ actions included significant safety, workforce and technology investments that have enabled food retailers to safely keep their stores operating, thereby serving communities during the public health crisis.
Source: fmi.org
US: Kroger looks to make online grocery orders more profitable, double digital sales by end of 2023
Kroger said it will double its digital sales by the end of 2023 and boost profitability of those sales. CEO Rodney McMullen said supermarket operator will attract customers with fresh foods, grow its ads business as an alternate revenue stream and fulfill online grocery orders more efficiently with the help of Ocado. The company’s shares have fallen, as Wall Street anticipates more Americans will eat at restaurants more as they get Covid-19 vaccines. Investors are also concerned about the challenging economics of online sales, too.
Source: cnbc.com
US: DoorDash accuses software company Olo of violating a contract by charging it too much
Food delivery app DoorDash is accusing software company Olo of breach of contract, fraudulent inducement and concealment, according to documents filed with the New York State Supreme Court. DoorDash told the court that it was overcharged by Olo, which had promised the delivery app that its fees “would never be higher than the fees charged to any other delivery platform provider”. DoorDash accounts for almost 20% of Olo’s revenue.
Source: cnbc.com
Canada: Dollarama expands growth plans as profits slip amid pandemic
Dollarama Inc. remained bullish on the future of the discount chain in Canada even as its profits slipped amid higher costs and restrictions related to the pandemic in its latest quarter. The Montreal-based retailer raised the number of stores it plans to have in Canada to 2,000 within the next decade, a nearly 50% jump compared with its total of 1,356 stores at the end of January.
Source: canadiangrocer.com
Switzerland: Migros gains market share in 2020, strengthens online position
Swiss retailer Migros increased its market share by 1.2 percentage points to 23.3% in 2020 and strengthened its leadership in the online retail segment. The retailer attributed the gain in market share to expanded, customer-oriented offers as well as investments in product quality. The company saw sales growth of 4.4% to CHF29.9bln (€27bln) during the financial year. Profit amounted to CHF1.75bln (€1.6bln), mainly driven by one-off successes from the divestment of Globus and Glattzentrum.
Source: esmmagazine.com
Chinese fresh food chain Qiandama weighs Hong Kong IPO
Chinese fresh food chain operator Qiandama is considering an initial public offering in Hong Kong as soon as this year, according to people familiar with the matter. The Guangzhou-based company had discussed a share sale with potential advisers, said the people, who asked not to be identified as the information is private. An offering could raise about $400mln to $500mln, one of the people said. Qiandama, established in 2012, sells products including vegetables, fruits, fresh meat and eggs through its franchised stores, according to its website.
Source: bloomberg.com
Egypt: Weelo raises 6 figure seed round to transform sales order automation in the supply chain
Weelo plans to digitally transform sales and distribution automation in the supply chain for Micro, Small, and Medium Enterprises (MSMEs) across verticals in the MENA region. Weelo’s revolutionary sales and distribution platform manages the entire sales cycle from warehouse to cash collection through AI powered analytics and real time management system.
Source: businessafricaonline.com
Lotus’s Malaysia first store in Kepong
Lotus’s Malaysia is the new brand name of former Tesco stores after the acquisition of Tesco Malaysia by Thailand-based multinational conglomerate, Charoen Pokphand Group Co Ltd (C.P. Group). It has officially unveiled its first flagship store in Kepong, a town north of Kuala Lumpur.
Source: retailanalysis.igd.com
Malta: Lidl dominates with 20% of sector’s turnover
The corner shop was once at the top of the pyramid in the Maltese retail landscape but now mega-markets are dominating the industry. A proliferation of large supermarkets over the past 2 decades shows no sign of abating with 10 planning applications for new facilities still up for consideration. MaltaToday looked at the financials of several popular supermarkets to find out who’s winning the sales war and who’s being left behind in the process. The figures reveal that 12 popular supermarket chains account for half of all turnover generated through retail sales in non-specialised stores - Lidl accounts for 23% of this. Pama is a far second, with 5.7% of the sector’s turnover.
Source: maltatoday.com.mt
Italy: Gruppo VéGé to introduce home delivery service with Glovo
Gruppo VéGé has teamed up with Glovo to offer customers home delivery service for groceries within 40 minutes. The exclusive agreement and national partnership will see the use of Glovo's Quick-Commerce service that ensures rapid delivery of groceries and other everyday products. It will involve the entire VéGé sales network, which includes 33 companies operating throughout Italy, with over 3,400 sales outlets.
Source: esmmagazine.com
Russia's Ozon sees 144% jump in trade in first post-IPO results
Ozon reported a 144% jump in 2020 gross merchandise volume (GMV) to 197.4bln roubles ($2.6bln) in the Russian online retailer’s first results since listing on the Nasdaq. Ozon, which uses couriers, pickup points and parcel lockers to run one of Russia’s largest e-commerce platforms, said it handled 73.9mln orders, up 132%.
Source: reuters.com