Retail News Briefs - 27/12/2015
1. Sweden To Go Cash Free – Sweden is expected to be the first country to go cash free. Already there are many banks who do not transact in cash. Physical bills and coins represent just 2% of the nations economy compared with 7.7% in USA.
2. Target Staff Praised for Helping Customer – a target customer who had lost her possessions in a Ballarat fire last weekend was pleasantly surprised when staff reduced the cost of her purchases by a significant amount. It turned out that 3 team members from the store had each donated $50 to assist the distressed customer.
3. Woolworths Sell direct To China – Woolworths have opened an online store on Chinese website, Tmall Global, to sell a select range of 80 goods including powdered milk, baby formula, and vitamins.
4. New Petrol Price Transparency – The ACCC has struck a deal that allows customers to have the same pricing information as retailers. Customers will be able to follow trends in pricing and see who is leading prices up and who is leading them down.
5. Tobacco Station group with over 340 retail outlets is up for sale.