Submit news    Advertise    List company    View newsletter    Share    My account    Follow    Unsubscribe

Retail

Steinhoff scandal rocks retail

The corporate scandal involving global retailer Steinhoff International dominated headlines last week. The company's CEO Marcus Jooste resigned amid information that came to light relating to accounting irregularities that required further investigation. The news caused Steinhoff shares to plummet. In 48 hours, Steinhoff's losses were greater than the estimated losses to the country in the Gupta-orchestrated state capture scandal.

In today's top story, Disrupt Africa's Afri-Shopping: Exploring the African E-commerce Startup Ecosystem Report 2017 reveals that less than 30% of African e-commerce startups are profitable, as ventures tackle issues such as lack of funding, shortage of trust and logistical difficulties.

In other Africa news, Heineken has laid the foundation stone of its $100-million brewery in Mozambique, while Swiss food giant Nestle announced that it would close its factory in Kinshasa, Democratic Republic of Congo, by the end of January.

In must-read research news, an IRI report shows that South African shoppers buy more healthy and organic food than their European counterparts, a trend that IRI believes food retailers and manufacturers could use to their advantage. And Nielsen reports on the excellent growth potential in SA's R43bn Private Label retail category.

Ending on a lighter note, I interviewed the brains behind Greenleaf + Terroir, a newly-launched pre-mix of locally produced, small-batch gin and craft tonic, who hope to shake up the pre-mix drink category in SA.

Enjoy!

Lauren Hartzenberg
Retail Editor: Bizcommunity.com



Comment online in our ed's column archive. Go mobile with apps and m.bizcommunity.com. Engage with us on Twitter, Facebook, LinkedIn and Google+. Subscribe to YouTube and via RSS. Send all your retail news and event invitations to retailnews@bizcommunity.com, exclusive opinion pieces to contributors-retail@bizcommunity.com and international news to internationalnews@bizcommunity.com. Read "How to contribute to Biz, from op-ed pieces to news".




BizTop stories
Less than 30% of Africa's e-commerce startups profitable
Less than 30% of Africa's e-commerce startups profitable

Gabriella Mulligan

Less than 30% of African e-commerce startups are profitable, as ventures tackle issues such as lack of funding, shortage of trust and logistical difficulties...read
Image credit:
Boytjie's lost billions

Kyle Cowan and Ann Crotty

Markus Jooste, the billionaire face of South Africa's biggest ever corporate scandal, grew up in the world of horse racing and gambling...read
SA shoppers' penchant for healthy, organic food an opportunity for brands
SA shoppers' penchant for healthy, organic food an opportunity for brands
According to a new report released by big data and predictive analytics provider IRI, South African shoppers buy more healthy and organic food than their European counterparts...read
Changing face of retail presents opportunity for the wine trade
Changing face of retail presents opportunity for the wine trade
Embrace the chaos brought by the mobile phone-fueled digital age and look to Portugal for a road map to success in the USA...read
Banking & Finance
A mobile payments solution for Kenyan retailers
A mobile payments solution for Kenyan retailers
Mastercard launches Kionect for Nairobi's smallest shopkeepers - a mobile ordering and payments solution enables kiosk owners to access micro-loans... read
CRM
Image credit: Alok Sharma - .
New research suggests organisations should embrace new messaging culture
Surge in consumers' use of messaging and social media is transforming their expectations of service, says new BT and Cisco research... read
CSI
Click2Feed campaign aims to donate 20,000 meals to hungry animals
Click2Feed campaign aims to donate 20,000 meals to hungry animals
Montego Pet Nutrition has launched its sixth annual Click2Feed campaign, an initiative aimed at feeding hungry animals nationwide... read
#GlobalFoodSecurity: Food Forward SA turns to digital solution in quest to reduce hunger
#GlobalFoodSecurity: Food Forward SA turns to digital solution in quest to reduce hunger

Sindy Peters

Food Forward South Africa has over the last two years developed a virtual platform that allows it to streamline how it carries out its mission... read
Design & Manufacturing
Manufacturing Circle optimistic about prospects of factories
Manufacturing Circle optimistic about prospects of factories

Sunita Menon

Despite the Absa purchasing managers' index (PMI) spending six months in contractionary territory, the Manufacturing Circle is adamant that manufacturing is SA's greatest opportunity for job-rich growth... read
E-commerce
Retailers brace as Amazon launches in Australia
Retailers brace as Amazon launches in Australia
US internet giant Amazon launched in Australia on Tuesday in time for Christmas, with retailers scrambling to cut costs and boost their online offerings... read
Amazon claims record-breaking Australia launch
Amazon claims record-breaking Australia launch
Amazon's Australia launch was the company's biggest-ever opening day for orders, the US giant said on Wednesday, but some shoppers were underwhelmed... read
Black Friday trumps Cyber Monday: BankservAfrica
Black Friday trumps Cyber Monday: BankservAfrica
Black Friday proved to be more popular than Cyber Monday this year, says automated payments clearing house BankservAfrica... read
Consumer electronics sales soar in South Africa during Black Friday week
Consumer electronics sales soar in South Africa during Black Friday week

Issued By GfK South Africa

South African retailers saw strong sales during the week of Black Friday this year. Panel television unit sales experienced 47% growth and smartphone sales leaped 63% compared to the same week in 2016... read
Alcohol delivery service Jumia Party launches in Ghana
Alcohol delivery service Jumia Party launches in Ghana
Jumia Food and Pernod-Ricard Ghana have joined forces to launch Jumia Party - a one-hour alcohol delivery service app that gives Accra users access to a marketplace of spirits... read
African expansion "massive focus" for SA's Quicket in 2018
African expansion "massive focus" for SA's Quicket in 2018

Tom Jackson

South African online ticketing startup Quicket has a "massive focus" on expanding to other African countries next year as it looks to create a truly pan-African solution for events... read
Exhibitions & Events
Image credit: Nadege Imbabazi via
Made-in-Rwanda Expo ends with calls to buy local

Julius Bizimungu

The fourth edition of the annual Made-in-Rwanda Expo concluded yesterday with a call from leaders to embrace locally produced products... read
Fashion & Homeware
Guess launches sexy summer 2017 range
Guess launches sexy summer 2017 range

Meagan Duckitt

Wednesday, 29 November saw the launch of Guess' Summer range at The Lookout in Cape Town V&A Waterfront. read
Luciano Benetton to return to clothing giant's helm at 82
Luciano Benetton to return to clothing giant's helm at 82
Luciano Benetton, one of the founders of the eponymous Italian clothing company, announced his return on Thursday to the helm of the struggling company... read
Mami Wata opens flagship store
View gallery
David Tlale celebrates 15 Years of his brand
View gallery
FMCG
#FreshOnTheShelf: New G+T premix distilled with the flavour of the Cape
#FreshOnTheShelf: New G+T premix distilled with the flavour of the Cape

Lauren Hartzenberg

Greenleaf + Terroir intends to shake up the pre-mixed alcoholic drink market, which has, for the most part, failed to truly win over consumers... read
New local craft beer brewing to combat food waste and alleviate hunger
New local craft beer brewing to combat food waste and alleviate hunger
Toast Ale South Africa has plans to produce a craft beer that utilises surplus bread from local companies, which would otherwise be discarded... read
Women in rural Tunisia mix hot sauce with business
Women in rural Tunisia mix hot sauce with business

Eleonore Voisard

These Tunisian women have some sauce, pooling their resources and a seasoned culinary expertise handed down the centuries from mother to daughter... read
Heineken begins construction on $100m brewery in Mozambique
Heineken begins construction on $100m brewery in Mozambique
Heineken has laid the foundation stone of its first brewery in Mozambique, which will brew beers for the domestic market... read
Food & bev. services
Take-out trends in SA's major metropoles
Take-out trends in SA's major metropoles
Joburg and Durban beat Cape Town and Pretoria as the cities that order the most chicken during the working week. While trend-conscious Cape Town chose sushi as its lunchtime delivery of choice... read
Health & Safety
Defective product risk is an increasing peril for companies
Defective product risk is an increasing peril for companies
Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise in recalls, says Allianz Global Corporate and Specialty (AGCS) report... read
Regulatory
Quack, quack: When consumer protection is all noise and no action
Quack, quack: When consumer protection is all noise and no action
On paper the South African legal system provides ample protection for consumers regarding false claims about so-called health products. But in reality, the truth is very different... read
Retail Marketing
The new Showbox adds another dimension to retail marketing in malls
The new Showbox adds another dimension to retail marketing in malls

Issued By Scan Retail

Scan Retail's new product, the Showbox, is a 360° glass showcase made for high-foot-traffic areas in malls and shopping centres, where it provides an extra marketing platform for retailers... read
Retailers
Philip Morris opens first South African retail boutique
Philip Morris opens first South African retail boutique
Philip Morris International has opened its first South African boutique store at the V&A Waterfront in Cape Town... read
Image credit:
Markus Jooste quits as Steinhoff CEO

Robert Laing

Steinhoff International CEO Marcus Jooste resigned on Tuesday night, ahead of the furniture retailer's results scheduled for release on Wednesday... read
Steinhoff shares dive on suspected fraud
Steinhoff shares dive on suspected fraud
Steinhoff International's share price continued to plummet in heavy trade on Wednesday as fears mounted of long drawnout investigations by regulatory authorities in Europe... read
Excellent growth potential in SA's R43bn Private Label retail category
Excellent growth potential in SA's R43bn Private Label retail category

Issued By Nielsen

Shopfitting & Merchandising
How to increase your optometry's foot traffic and turnover through great shopfitting
How to increase your optometry's foot traffic and turnover through great shopfitting

Brandon Williams

Issued By Creative Shop

Through our years of experience in the retail design and shopfitting industry we have seen how optometrists can attract more customers into their stores and improve their profits through great retail design... read
Supply Chain
Capri23auto via
Kraft Heinz extends 100% cage-free egg commitment to Africa and Asia
Kraft Heinz extended their cage-free egg policy commitment to Asia and Africa, commits to global 100% cage-free egg supply chain by 2025... read
Quotes
Leo Rosten
"Some things are so unexpected that no one is prepared for them."
Nathaniel Hawthorne
"Mountains are earth's undecaying monuments."
Blaise Pascal
"Eloquence is a painting of the thoughts."
Marianne Moore
"If technique is of no interest to a writer, I doubt that the writer is an artist."
Mother Teresa
"We shall never know all the good that a simple smile can do."

More quotes  Submit a Quote
Twitter
DisruptAfrica
@DisruptAfrica
This SA startup is taking the "braai" digital https://t.co/n9IVzBNvL1
DougCarew
@DougCarew
Changing face of retail presents opportunity for the wine trade @CapeClassics #WineTrade #WineSales #DigitalRetail... https://t.co/MR9dZyudwZ
GE_Africa
@GE_Africa
GE has invested $3 billion in the additive manufacturing space, including $200 million in #research and #development https://t.co/P7JuZs781T
NielsenAfrica
@NielsenAfrica
The South African Shopper Trends report revealed that as much as 89% of 'spontaneous' consumers frequent just two t... https://t.co/Z0YaGdylv9
MadeItInAfrica
@MadeItInAfrica
The journey so far: Raphael Afaedor, CEO, Supermart.ng https://t.co/a3KdTvsWII via @madeitinafrica https://t.co/sUgb6mUoKb
More tweets  Follow

Jobs offered
New events to diarise
2018 customer experience trends innovation workshop
Brandlove - 19 Jan 2018, Cape Town


Two-Day Design Thinking Fundamentals Course
DesignThinkers Academy - 29 Jan 2018 to 30 Jan 2018, Cape Town


Leadership Development For Women In Banking, Finance and Insurance
Intelligence Transfer Centre - 6 Feb 2018 to 7 Feb 2018, Johannesburg


2018 customer experience trends innovation workshop
Brandlove - 14 Feb 2018, Johannesburg


Call Centre Seminar 2018
KR - 15 Feb 2018, Johannesburg


Design Thinking and Empathy Generation
DesignThinkers Academy - 22 Feb 2018, Cape Town


Neuromarketing Seminar 2018
KR - 28 Feb 2018, Johannesburg


FOLLOW US
FacebookTwitterLinkedInYouTubeInstagramGoogle+RSS
List company
List CV
List new business
List portfolio showcase
List profile
Submit event
Submit gallery
Submit job ad
Submit new appointment
Submit news
Submit noticeboard
Submit op-ed contribution
Home
My job ads
My events
My company
My CV
 
Advertising: We welcome your sales enquiries! Email sales@bizcommunity.com and read more about our advertising rates

Cape Town, 1st Floor, 4 Treaty Rd, Woodstock, Cape Town, 7925, South Africa. Tel +27 (0)21 404 1460
© 2017 Bizcommunity.com. All rights reserved.
 
Unsubscribe, Newsletter subscription. Subscribe. Change email address. Change frequency to DAILY.