Inside Retail

JULY 14, 2024

About 46 per cent of Australian shoppers in a survey by Monash Business School’s Australian Consumer and Retail Studies (ACRS) said sustainability is a significant factor when making a retail purchase. Of 1002 respondents, 30 per cent said they frequently look for sustainable products while only 12 per cent do not. Recyclable packaging emerged as the top sustainable consideration at 62 per cent, followed by recyclable products at 59 per cent and products being made from recycled materials

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Consumer Shopping ATS 264

Retail Wire

JULY 14, 2024

In a major turn of events, OpenAI whistleblowers are alleging the company illegally prevented employees from alerting government regulators about the potential risks posed by its technology to all people of the world. As a result, they have decided to file a complaint with the Securities and Exchange Commission (SEC) in order to change things.

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Inside Retail

JULY 14, 2024

Hog’s Breath Cafe is looking to rebuild its restaurant footprint, and has plans to open another 20 restaurants by 2029. CEO Steven Spurgin told Franchise Executives reaching the milestone will depend on the economy and any external financing. “Right now we are negotiating with financial partners for us to expand faster,” Spurgin said. “We have investors willing to fund building projects, enabling franchisees to join without needing upfront capital to build a restaurant.

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Planning Finance Management Marketing 264

Retail Wire

JULY 14, 2024

Social Security is crucial for many seniors, with 60% relying on it as a major income source according to a Gallup poll. The annual cost-of-living adjustment (COLA) based on inflation is vital for these beneficiaries. Analysts predict a 2.63% COLA for next year, lower than the current 3.2% but still good news as it could preserve more buying power amid lower inflation.

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Customer Experience

Inside Retail

JULY 14, 2024

Bunnings is changing the packaging of products containing lead amid concerns about customers and workers being exposed to the hazardous metal, the ABC has reported. Shop, Distributive and Allied Employees’ Association (SDA) officials conducted inspections in at least three states and sent the ABC photos of potentially hazardous lead dust on the shelves.

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Shopping ATS 147

Retail Wire

JULY 14, 2024

One of the most dominant tech companies in the world, Google is continuing to make moves in order to continue its influence as well as its nearly unbeatable value. Currently, Google is reportedly in advanced talks to acquire a cybersecurity startup firm named Wiz for approximately $23 billion. If this deal does indeed come to fruition, this would be Google's largest-ever acquisition so far.

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Retail Wire

JULY 14, 2024

Elon Musk continues to make the news with a string of various issues that seem detrimental to his public persona and his companies. Recently, the European Commission has accused Elon Musk’s social media platform, X, of deceiving users and violating digital content regulations.

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Inside Retail

JULY 14, 2024

For retailers, few dates on the calendar are as busy or tricky to navigate as the yuletide season. According to the National Retail Federation, US holiday sales exceeded US$964 billion in 2023, marking a 3.8 per cent increase from the year prior. With the peak trading period only a few months away, now is truly the time for retailers to double down and invest their efforts into optimising their inventory and fulfillment operations.

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Shopping Fulfillment Shipping Inventory Management 130

Retail Wire

JULY 14, 2024

With all of the negative factors caused by rising prices and inflation, recent developments are pointing towards signs of some relief. The Consumer Price Index (CPI) fell by 0.1% from May, slowing the annual inflation rate to 3% from 3.3%. This marks the first monthly decline since May 2020, driven by falling gas and car prices. The core CPI, excluding energy and food, also slowed more than expected, rising only 0.1% from May and bringing the annual core inflation rate down to 3.3%.

Consumer 201

Consumer 201

Inside Retail

JULY 14, 2024

Last month, Indian quick-commerce company Zepto raised US$983 million in a funding round that valued it at $5.3 billion. This funding boost comes just nine months after Zepco secured $296 million in a Series E round led by StepStone Group, which had already placed the company’s valuation at $2.1 billion. In the same month, Zomato announced its plans to invest an additional US$53 million in Blinkit, further solidifying its commitment to the quick-commerce segment.

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Finance Fulfillment Planning Marketing 130

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Accounting

Retail Wire

JULY 14, 2024

One of the most dominant tech companies in the world, Google is continuing to make moves in order to continue its influence as well as its nearly unbeatable value.

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Retail Gazette

JULY 14, 2024

The Czech billionaire who has tabled an offer for Royal Mail is preparing to invest some £800m on introducing a network of parcel lockers in a bid to take on delivery rivals. Daniel Kretinsky, who has submitted a £3.6bn takeover bid, is planning to cut Royal Mail’s parcel prices in the hopes of winning back market share, The Telegraph reported.

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Planning Marketing Management 114

Inside Retail

JULY 14, 2024

What does a retailer do when it has developed a self-checkout system broadly considered in the industry as the best in the world? If you’re Fast Retailing, you try to make it even better. “The current version of our self-checkout system is not yet complete,” the company’s group executive officer, CIO, Takahiro Tambara told Inside Retail in an exclusive interview on the sidelines of the recent NRF Asia Pacific show in Singapore.

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Checkout Payment Services Apparel Inventory Management 244

Retail Gazette

JULY 14, 2024

The Euros 2024 Championship has given the British economy a £3.1bn boost as football fever swept through the UK. Football fans are estimated to have spent at least £405m before of last night’s final between England and Spain, according to research from VoucherCodes. Retailers are estimated to have received a £280.1m boost, with the majority spent in supermarkets on last-minute food and drink for the game, The Telegraph reported.

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Supermarket Consumer ATS 111

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Customer Experience

Retail Gazette

JULY 14, 2024

Burberry has replaced its chief executive, effective immediately, as it warned that annual profits will fall short of expectations after first quarter sales fell by a fifth. The luxury fashion house has hired ex-Michael Kors boss Joshua Schulman to replace Jonathan Akeroyd, who has stepped down “by mutual agreement with the board”. Burberry said Schulman, who was the president of Bergdorf Goodman from 2015 to 2020, joins the business with a track record of driving transformative growth and value

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Payment Services Fashion Marketing 52