Retail

• [New] Now available at Target stores in five states, the chain retailer plans to expand with EV charging at 100 sites across more than 20 states over the next two years.
• [New] Namcor's expansion strategy will see the opening of retail sites in strategic locations across Namibia and potentially in neighbouring countries.
• [New] 72% of retail brands around the world expect to grow fraud teams in 2022, while 76% predict their budget to tackle fraud will increase in the next 12 months - with 20% expecting a significant increase.
• [New] In Indonesia, a surge in new daily COVID-19 cases will result in a weak first quarter, indicating weak consumer confidence and retail sales, which is likely to push back recovery by about three months.
• [New] Capital expenditures are expected to be $ 335-$ 345 million for the year, accounting for investments made in supply chain, digital capabilities, new store openings and renovations, and other technology and general corporate infrastructure projects.
• [New] In the UK, bp pulse, the company's charging arm, plans to have around 250 ultra-fast chargers (defined as chargers with a power output greater than 150 kW) operating at bp retail sites by the end of 2021.
• [New] In 2021, Starbucks will celebrate 50 years in business, growing from a single store in Seattle's Pike Place market, which opened in 1971 to nearly 33,000 stores worldwide today, with its iconic mermaid logo becoming one of the most instantly recognisable logos in households across the globe.
• [New] With consumers ready to get back to 'normal life' and the current momentum of vaccination, retailers and brands are expecting an increase in demand leading to the U.S. economy experiencing the fastest growth in more than two decades.
• [New] Most global retailers are predicting an increase in fraud budgets in 2022, with nearly half seeing an increase in attacks.
• [New] Since state agencies are considered a part of the State of Louisiana, no consumer use tax will be due on any purchases made from a remote retailer by a state agency.
• [New] The decline in the fuel retail value pool is expected to be offset by gains in nonfuel retail, with the global forecourt value pool increasing from $22 billion in 2019 to $30 billion in 2030.
• [New] The high risk of hacking means smaller companies seeking protection for their 'hot wallets' - digital assets stored online - can typically get just about US$ 10 million covered, with the largest limits rarely exceeding the US$ 100-200 million range, insurers and brokers said.
• [New] Retail stores will see limits on capacity while restaurants will be restricted to takeout, delivery and drive-through service.
• [New] Retail brands will continue to innovate as a result of the past year, but newer entrants trying to capitalize on changing consumer preferences should tread lightly when implementing augmented reality to avoid disrupting proven e-commerce checkout fundamentals and losing out on sales growth.
• [New] Three fertilizer categories - dry fertilizer, liquid fertilizer, and micronutrients - are expected to see increased spending in 2021 from the ag retail sector.
• [New] The U.S. food retail sector has spent nearly $24 billion on COVID-19 pandemic-related costs, and a large majority of industry stakeholders expect sales and profits to decrease in 2021.
• [New] In 2021, retailers should begin a path to recovery, embracing change and looking for new opportunities, while innovating and reconnecting with customers in new and different ways.
• [New] New ways of selling and fast adoption of digital tools were born out of necessity this past year and many will be shaping the retail landscape in 2021.
• [New] With people changing shopping and eating habits, there will be new opportunities for growing food and drink firms to expand into retail and develop their Lancashire supply chains.

Last updated: 08 April 2021