CPM, Ireland’s leading field sales company, takes a look at the Irish retail news for this week. Every Wednesday we share the recent announcements. This is a one stop shop for all your Irish retail news. If you would like to receive our monthly newsletter which will include all Retail articles for the previous month, including "Retail at a Glance" subscribe today.
Rise in consumer spend continues
Irish consumer spending continues to rise steadily with shoppers splashing out most on shoes and clothes last month. With tomorrow’s budget expected to cut taxes and boost consumer spending power further, Visa Europe’s latest Irish Consumer Spending Index shows that consumer expenditure here rose by 5.4% in September, compared to the same period in 2014.
Christmas spending set to boom this year with retail groups predicting bumper festive season
Christmas spending is set to boom this year with retail groups predicting a bumper festive season. This year will see us hitting the shops and parting with an estimated €4.05billion of our hard-earned cash, according to Retail Ireland. Spending forecasts by the consumer group are now predicting the biggest sales profits since 2008, when spending reached €4.003billion.
One hour for online order delivery soon, conference told
Consumers will soon have to wait no longer than an hour for online purchases to arrive on their doorstep, a major retail conference in Dublin heard yesterday. Within a decade Amazon and eBay will automatically place grocery orders for registered shoppers based on data culled from previous deliveries and people will be able to “make” Nike trainers using 3D printers, according to the retail prophets and futurologists who took to the stage at the Guinness Storehouse as part of the second Retail Ireland conference.
Industry response to Budget 2016
Budget 2016 has delivered a number of measures that will directly impact retailers. The duty on cigarettes has gone up by 50c, bringing the average price of 20 cigarettes to €10.50. The minimum wage will also be increased from €8.65 to €9.15 an hour from 1 January.
Almost Half Of Consumers Believe Budget Will Leave Them With Less Money For Groceries
According to the latest Consumer Insights report from Empathy Research, almost 1 in 2 Irish consumers (46%) think today's Budget will leave them with less money to spend on groceries. The survey of 1,004 adults found that 54% of females are of this opinion compared to 38% of males. Participants with children (54%) are also more likely to be of this opinion than those without children (41%).
Lidl to pay Irish staff ‘living wage’ of €11.50 an hour
Lidl has become the first Irish supermarket chain to sign up to the Living WageCampaign, pledging to pay staff a minimum of €11.50 an hour. The measure, which comes into force next month, will benefit 20 per cent of its staff who currently earn below this rate.
Irish Farmers Association Nonplussed With Lidl's Living Wage Announcement
In the wake of Lidl's recent announcement that it is to provide the 'living wage' for its staff, Irish Farmers' Association president Eddie Downey said that the move will ring hollow in the minds of farmers and fresh produce suppliers who, as a result of pressure from retailers to do more for less, claim that they are struggling to make any profit.
SuperValu moves into insurance market as they take on established industry giants
Retail giant SuperValu confirmed it is selling car and home insurance - and taking on established giants. The grocery chain said 20 new jobs will also be created in the process. Teaming up with American International Group (AIG), SuperValu made the decision to expand into the insurance market after claiming customers named car and home insurance as the one extra thing they wanted from the brand.
Tesco's first-half profit slumps by 55%
Supermarket group Tesco has today posted a 55% slump in first-half profit, showing the scale of the financial damage wrought by discount groups and raising questions over boss Dave Lewis' turnaround plan. In line with recent market data, Tesco showed a steady improvement in trading in its UK home business and it reiterated its full-year outlook.
Tesco Unveils New Brand Matching Scheme
Tesco has introduced a new brand matching scheme, Brand Guarantee, with which the retailer has promised its customers they 'will never pay more for their branded shop'. The new scheme compares the overall cost of a customer’s branded grocery shop at Tesco to a smiler shop at Asda, Morrisons and Sainsbury’s. If the shop is deemed to have been cheaper at one of its rivals, an automatic deduction is made from the bill.
Retail: Shops welcome cut in cost of processing debit card payments
A reduction in the amount retailers have to pay for transactions involving debit cards has been welcomed by the sector. A reduction in the maximum that shops can be charged for such transactions to 0.1 per cent was announced by Minister for Finance Michael Noonan. An EU directive has imposed a 0.3 per cent maximum charge for credit and debit cards.
Online ordering and family shoppers driving Tesco turnaround
Tesco has upped its online grocery delivery fleet by a tenth and dropped the price of staple goods, contributing to early signs of a turnaround in its Irish business. Results released last week showed that a decline in Irish like-for-likes sales is narrowing. Data from consumer insights agency Kantar Worldpanel meanwhile showed the Irish business enjoyed a sales increase of 0.3pc in the 12 weeks to September 14, its first quarterly period of growth in this country since early 2013.
Irish bakery in the dough after M&S UK deal
A small artisanal bakery company in Waterford has won a major contract to supply Marks & Spencer across the UK, where the retailing giant operates more than 200 foodstores. The Lismore Food Company, which set up in the same premises as a cafe only last year, will start supplying its All Butter Irish Shortbread biscuits to the British retailer later this month.
Sorry Ireland, Aldi won’t be doing wine deliveries here after all
Aldi have announced that they are going to begin selling wine online. Yupee! But… not to you, Irish resident. The discount supermarket chain confirmed today that reports in the Daily Star and the Examiner that said the service will be introduced in Ireland next year are “completely inaccurate and without foundation”.
Ireland's largest Lidl opens its doors
Ireland rugby star and Wexford native Gordon D'Arcy was up and about early on Thursday morning to help young Gorey brothers Cian and Sean Duggan officially open the brand new Lidl store on the Arklow Road which is the largest Lidl store in Ireland.
Whitewater Shopping Centre on offer for €150m
Ireland’s largest regional shopping centre, Whitewater Shopping Centre, has been put up for sale by its joint venture owners for more than €150m, property industry news source CoStar News has revealed.
Davidson Kempner agrees terms to buy five Irish retail parks in €170m deal
The firm is buying the National Portfolio from receivers who had been appointed on the instructions of Bank of Ireland.
The portfolio includes the 195,000 sq ft Nutgrove Retail Park in Rathfarnham, South Dublin; the 380,000 sq ft Letterkenny Retail Park, the 260,000 sq ft Sligo Retail Park, the 170,000 sq ft Tullamore Retail Park and the 140,000 sq ft Deerpark Shopping Park in Killarney.
Naas retail park at Newhall complex on N7 for sale with guide price of €21.5m
One of the two retail parks in Naas, Co Kildare, the successful Newhall complex at junction 10 of the N7 Dublin-Limerick motorway, goes for sale today at a guide price of more than €21.5 million. The other park, The Globe, was bought two years ago by Green REIT.