Sunday 4 September 2016

More Retail News Briefs

Visa Introduce Payment Ring
No, this ring is not a group of customers, it is the jewellery type of ring, and Visa have now made it available to the general public. Customers can tap the ring at a store terminal without having to pull out their card or phone. The ring is expected to be available in the US by the end of the year at a cost of $53.

The Co-op Buys Australian Geographic Stores
The Co-op is an on-campus retailer with an online presence and over 60 bricks’n’mortar stores around Australia. It sells text books, homewares, toys and office supplies, and has a strong student and ex-student following.
The acquisition of Australian Geographic’s 66 retail stores and online business is expected to be completed early September.

Water Adds To Coca Cola Bottom Line
Coca Cola have reported falling demand for traditional soft drinks and are concentrating on water, energy, and dairy drinks. Softness in fizzy drinks was countered with a 9.3% increase in still beverages following the introduction of new brands including FUZE Tea and Monster Energy.

High Tech Towing Takes Out Telstra Small Business Award.
This years national New Business Award went to a two year old towing company called The company started in Queensland, securing a partnership with Queensland Police for a state-wide contract. Operations are now national with plans to expand into NZ.

Two More Fashion Businesses Bite The Dust
Women’s clothing retailer, Seduce, has entered voluntary administration. The chain operated 9 Australian stores specialising in fashion for women aged 25-35. The brand has stores in Dubai and China and supplies a number of other retailers including Myer and The Iconic.
And it was recently announced that fashion label Willow is to shut up shop after owner Apparel Group (JAG, Sportscraft and Saba) decided it no longer fits their long term strategy.

Queensland Appoints Chief Entrepreneur
In a move designed to emulate the success of Israel’s start-up culture, the Queensland Government has appointed Blue Sky Alternative Investments founder, Mark Sowerby, to head up their Advance Queensland program.
Sowerby’s role will be to oversee all start-up and entrepreneurial related projects and he says he will be concentrating on developing ideas, taking them to market, and creating jobs along the way.