04 October 2023
04 October 2023
Shop price annual inflation dropped to 6.2% during the month from 6.9% in August.
The company has plans to open up to 30 new stores in the country next year.
During the quarter, evening trade accounted for 8.8% of company-managed shop sales.
The showroom offers a hospitality bar, private consultation rooms and a dedicated service lounge.
The first set of stores comprises of hypermarkets, supermarkets, Franprix grocery shops and convenience stores.
The looming exodus of hourly workers, along with the struggle to attract and retain younger talent, poses a significant threat to retail businesses.
The traditional distribution model, typically including intermediaries and multiple steps, is being simplified for a more direct customer experience.
The company is considering termination or closing of non-performing assets and disposals of non-core assets.
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Per GlobalData, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.
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