Filed under: Local News
By Tom Robbins
Cape Town – JD Group expected a slew of litigation before credit provision precedents were established under the National Credit Act, the furniture retailer said yesterday. The act, which kicks in on June 1, aims to give consumers at the bottom end of the market greater access to credit, while trying to offer them greater protection from reckless lending. (more…)
Filed under: Local News
Investors continued to speculate that Woolworths could become the next target in a rash of private equity buyouts of retail firms. It added 1.43 percent to R21.30.
Reuters
Filed under: Local News
By Lukanyo Mnyanda, Johannesburg – Domestic retail sales growth accelerated to 9.4 percent in January as four interest rate increases since June failed to crimp spending, boosting pressure on the Reserve Bank to raise rates further. (more…)
Filed under: International News
Sydney – Wal-Mart Stores would pay $530 million (R4 billion) in bonuses to US workers after facing pressure to increase wages and improve working conditions, the Arkansas-based firm said yesterday. (more…)
Filed under: Must Reads
Reading Recommended by David Abrahamse of Algoran.
Nothing will be more important, more lasting, or more wealth creating than having the insight required to transform customer’s environments and therefore their customer’s experiences, which are both guests. ” There is no economic value more tangible, more palpable, or more worth while than achieving an aspiration. ” (The Experience Economy by Pine & Gilmore)- you can skip chapters 4-8,but make sure you read the rest!
(Brand Sense by Martin Lindstrom) Also a must read!
Filed under: Local News
By Ronnie Morris
Cape Town – Woolworths’ balance sheet was too unattractive for private equity investors and talk in the market that the company was a takeover target was speculative, a retail analyst said yesterday.
Abri du Plessis, the chief investment officer at Gryphon Asset Management, was speaking after Woolworths’ share price rose to R20.70 a share on Tuesday before closing at R20.65. It rose to R20.40 on Monday from R19.40 on Friday. Yesterday it reached a high of R21.20, but closed 0.63 percent lower on the day at R20.50.
See Business Report for more details.
Filed under: Local News
Cape Town, South Africa - Building materials retailer Cashbuild called on the government to use more expensive imported cement to build stadiums for the 2010 soccer World Cup and roads, arguing that this would make cheaper, domestically produced cement available to local builders.
(more…)
Filed under: Trends
In the rush to tap into the current surge in popularity of online shopping, retailers should keep in mind that the future of retailing will not solely be delivered in RGB pixels. The consumer is fickle and, when all is said and done, will continue to search out and patronize those brands that stimulate and broaden horizons, as well as provide the desired merchandise, says David Abrahamse of Algoran. The retail environment is still the only place where the brand has complete control over the delivered experience. And, if approached correctly, it can be utilized as an effective and worthwhile portal directly to the essence of the brand message. The opportunities for adding value through sensory exploration and interactive human communication (otherwise known as instore customer service) make the store a powerful and indispensable tool for developing the much-coveted conversation between brand and consumer.
Filed under: Local News
It’s the reason you’ll drive an extra 10 minutes to pick up your groceries from one retailer, when there’s another – offering precisely the same range – on your doorstep. Except, in this case, that elusive x-factor is a little easier to pinpoint: your shopping preferences may well be grounded in smart design. “When it comes to retail space, the key to good design lies in creating an experience, a feeling of warmth and pleasure that will make a customer want to return again and again. This creates brand loyalty,” says David Abrahamse of Algoran.
