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Weekly Round-Up ... 15 February 2022

We all know sustainability is a hot topic at the moment. Climate change effects all our lives, as well as the planet, and sustainable business practices are becoming increasingly important. What does this mean for the Irish retail industry?  

If you are an Irish retailer, Retail Excellence needs your help to find out. How? By responding to the quick survey, linked below. Partnering on this initiative with Sharon Yourell Lawlor of Think Plan Do Consulting and Claire Cogan, of BehaviourWise, this questionnaire will look to assess where we are today as an Irish retail industry, and the part that we can play in making our businesses more sustainable. So, if you are a business owner, director or senior manager of an Irish retail business, please add your voice here. The anonymous survey will take 10 to 12 minutes to complete and each respondent will be entered into a prize draw for a chance to win a Me2You gift card worth €250. You can simply click on the link below to complete the survey, and your input would be very much appreciated.

https://behaviourwise.qualtrics.com/jfe/form/SV_dp8Ty7zckJVrknI

Consumer prices grew at their fastest rate in almost 15 years in January, and core inflation surged above expectations, data showed on Friday, supporting the case for further interest rate hikes. The National Bank of Hungary lifted its main rate by 50 basis points, to 2.9%, at the end of January – the biggest increase in over a decade. It has expected core inflation to pick up, and it has been monitoring companies’ repricing of goods and services, as they contend with soaring costs for materials and wages. Headline inflation picked up to a rate of 7.9%, year on year, in January – the highest since August 2007, and defying expectations for stagnation at around 7.4% that was posted in December.

Dagrofa Group has announced that it will invest DKK 450 million (€60.46 million) over the next three years into three of its retail chains, including SPAR Denmark. The plan includes the development of a new retailer model to attract more independent retailers. The new licensed model will focus on shared earnings with retailers and support retail development. The group added that its focus on local stores is a result of changes in the retail space following the Covid-19 pandemic. The new model makes it more attractive for independent retailers, as it provides financial and other support mechanisms. According to Esben Keller, Dagrofa’s director of SPAR, Min Købmand and Let-Køb, all three chains experienced growth during the pandemic, with SPAR increasing its market share.

On Friday, British American Tobacco (BAT) reported a 7% rise in full-year adjusted revenue, to £25.7 billion ($34.8 billion), helped by sales of e-cigarettes and oral nicotine. The world’s second-largest tobacco company also announced a dividend increase of 1.0%, to 217.8 pence, and a £2 billion share repurchase programme for 2022. It posted a 51% rise, to £2.05 billion, in adjusted sales of its ‘new categories’ product line, which includes e-cigarettes, heated tobacco, and oral nicotine. Though the division has yet to turn a profit, BAT noted that it was on track to report revenue of £5 billion and profitability by 2025. “Continued growth in new categories is a cornerstone of BAT’s long-term plans for success,” Third Bridge analyst Ross Hindle said. “With over 1.1 billion smokers still using combustibles, the opportunity to convert consumers towards new categories is highly attractive.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click sign up to subscribe to Checkout.

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