Tesco’s application to buy a 50 per cent stake in TataGroup’s Trent Hypermarket has been formally approved by India’s foreign investment regulator, meaning that the supermarket group can now officially announce itself to Asia’s third largest economy. The investment plan is thought be worth around USD 110 million (GBP 67 million).
An organic food company owned by Prince Charles’ foundation,Duchy Originals, has managed to generate sales in the midst of a general slowdown in consumer spending.
The managing director of Waitrose has attacked “meaningless” supermarket loyalty cards by insisting that customers prefer immediate rewards. Mark Price, who has hailed the success of the myWaitrose card which offers customers a free cup of coffee or tea, said that the fact that Waitrose is now the second largest provider of coffee in the UK is proof that the card is a success.
Asda’s latest Income Tracker has revealed how family spending power has increased by £2 a week year-on-year in November. The Wal-Mart-owned supermarket firm found that the average UK family had £160 of discretionary income available in November, up £2 a week from November 2012 and the highest since July 2012.
Back in September Tesco made its first foray into the tablet computer market when it launched its £119 Hudl device. 300,000 sales later and Tesco is planning to bring out its second-generation device by 2014. “The new version will be an enhanced version,” said Tesco’s chief executive, Phillip Clarke.
Discount food grocer, Aldi, greeted around 90 exuberant shoppers at 8am this morning for the opening of its new 935-sqm store at the Meteor Centre in Derby. Each customer – some of whom had queued since 1am – was awarded with a golden envelope which contained prizes, including a personal computer, 23” HD Ready TV, CD players and Aldi goody bags.
Could Christmas Eve panic buys become a thing of past? According to a new study, Britons are increasingly turning towards e-commerce for their Christmas shopping this year, with £1 in every £3 being spent online this December. A study by the British Retail Consortium found that almost £1 in every £5 is spent through computers, tablets and smartphones, making Britain the most tech-savvy nation when it comes to online retail.
According to market research firm Kantar Worldpanel, Britain’s biggest supermarkets have all lost market share for the first time in at least 10 years, as cash-strapped consumers migrate to cut-price competitors such as Aldi and Lidl. Kantar said that Tesco, Sainsbury’s, Asda and Morrisons have all lost market share thanks to an influx of cut-price competitors led by German retailers Aldi and Lidl.
Prices of frozen turkeys this year are up by 17 per cent in supermarkets, despite the wholesale market only increasing by 8 per cent. Research published by The Grocer Magazine last year found that the average price of a frozen turkey weighing 5-6kg cost £17. This is compared to the £20 average which supermarket chains will be commanding this year, according to the Daily Mail.
Asda will begin a trial with Barclays Bank to open branches within some of its stores. Four Asda supermarkets have been chosen for the pilot scheme, which will see bank branches open outside of the traditional bank opening times of 9am to 5pm. Asda’s Birchwood store in Cheshire will be the first bank to undergo scheme, followed shortly by branches in Pudsey, Watford and Broadstairs.
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