Retail Insights #7
IGD (Institute of Grocery Distribution)
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Welcome to our latest edition of Retail Insights; a platform highlighting the latest retail trends, strategies and expert advice to help businesses and individuals stay informed, inspired and ahead of the competition.?
Colruyt Group annual revenue breaks €10bn barrier, increasing an impressive 11.9%.?
Sales grew to €10.8bn, with gross profit also up 16.3% to €3.2bn. Colruyt’s food retail revenue increased by 9.1%, driven by its Colruyt Lowest Prices discount banner in Belgium and Luxembourg. Elsewhere, Okay (multichannel), Bio-Planet (organic) and Cru (premium) stores, saw revenue increase by 8.5%, partly driven by price inflation. Going forwards, Okay will focus on urban growth in Brussels, Antwerp and Ghent. Despite double-digit growth, Colruyt remain cautious on the outlook, given the macroeconomic environment and market competition. We recently spent time with the Colruyt team to better understand it’s strategy across its different formats -?check out our exclusive report.
The?French?retailer has teamed up with Loop to trial a zero-waste shopping experience. The initiative is available in five stores, Loop’s deposit scheme includes brands such as Evian, Club Maté, William Peel and others. The deposit return scheme enables shoppers to pay a small deposit when purchasing the product and claim it back once returned to a Loop collection point.
Coop Sverige uses AI to support on sustainability.?
In an interview with Dagligvarehandlen, Coop’s sustainability manager said it is using advanced AI to analyse ten aspects of sustainability and previous transaction data to create personalised sustainability offers. Coop members will need to create a personal profile to receive the offers. The retailer is also training 20,000 employees in sustainability and the impact of food production as part of its 2033 sustainability strategy.
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Carrefour Belgium launches new inclusive store concept.
The new concept that focuses on supporting the visually impaired is being trialled in a hypermarket located in Auderghem. The retailer has partnered with Seedgrowth Accessibility, a technology company, and Eqla, an organisation which supports the visually impaired to implement the store.
Kaufland Romania & Moldova extends loyalty prices.
As part of its K-Card scheme, the retailer has introduced ‘Blue Basket’ prices, offering a 10% discount on over 600 products for loyalty card holders only. The discounts cover 22 in-store categories and include both brands and private label products.
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