Books – Digital Detox boosts sales – Sales of e-books fell around 17% in UK and USA during 2016 while sales of physical books, particularly paperbacks, rose around 7%.
Digital detoxing is put as one of the reasons for consumers embracing a physical book on the shelf and in the hand rather than on a screen.
There is also a view that price has a lot to do with consumers choices. Many consumers don’t see why they should pay the same price for a digital book over a physical version that will hang around for years and not get lost in the next hard drive crash.
Meanwhile Amazon have announced the opening of another physical bookstore in New York.
Woolworths Report Strong Quarter.
Woolworths 3rd quarter sales rose as its Australian supermarket division jumped over 5% compared with 2016. Commentators said that the rise was on the back of discounting and not much improvement was expected in profit margins. Woolworths continues to work on rebuilding its Big W brand with more losses expected in the second half of the financial year.
Changing Patterns of City Worker Spending.
An excellent article in the Age this week captured the changing patterns of city worker spending including the astonishing revelation that an average spend on lunch for city workers is $15 - $20. That would buy you a few Boreks! This article is worth a read - http://www.theage.com.au/business/retail/city-workers-shopping-eating-frenzy-sees-melbourne-cbd-spending-swell-to-3b-20170427-gvtt84.html?btis
TK Maxx Starts Aussie Assault
“Off-line” retailer TK Maxx opened 6 stores in Melbourne last week, another 8 in Queensland on the weekend and 7 in key Sydney locations in the past few days.
TK Maxx specialise in one off and end of line well known brands at big discounts.