Marley Spoon Appoints New CMO as they Seek to Accelerate Business Growth & Improve Customer Retention
Key Signals in Retail and Consumer Goods
Centre Setup and Expansion Clarins to invest USD 144 Mn in a new plant in France The company is going to set up a new cosmetics production unit on a 13.5-hectare site in Troyes, Northeast of France. The construction should start by the end of February, with production scheduled to begin in autumn 2024. Read More>> Aldi to open new Delaware Store and reopen Florida location battered by a hurricane last year This will not be the only Delaware location to open this month. A new store is planned at 26684 Centerview Drive in Millsboro, Delaware, on Feb. 23. Read More>>Layoff Canopy growth to shutter Ontario headquarters, lay off 35% of staff The company has announced it is “transitioning to an asset-light model.” The news arrives after reporting a net loss of more than USD 260 Mn in the latest quarter. It led to a significant reduction in production and headcount, with 800 positions impacted immediately, and intends to lay off about 60 percent of its staff across the business. Read More>> Cannabis MSO Ayr Wellness eliminated 180 jobs and terminated 2700 employees across the US The terminations come amid a wave of layoffs in the cannabis industry. The company also added that it had canceled its acquisition of Chicago’s Dispensary 33, a deal worth about USD 55 Mn in cash, stock, and seller notes. Read More>> OLX Group to cut 1,500 jobs globally OLX will be slashing 15 percent of its workforce, 1,500+ employees, globally, including in India, as part of restructuring amid the global meltdown and recession fears. The company’s auto business is likely to be the worst hit, possibly impacting engineering and operations teams in India. Read More>>Mass Hiring Aldi plans to recruit up to five hundred new apprentices in 2023 The move marks the UK’s fourth-largest supermarket’s biggest-ever apprenticeship intake, with opportunities in stores, logistics, and buying, as well as for HGV drivers. At the company, a store apprentice can earn USD 267.70 per week in the first year of training, rising to USD 391.33 per week after two years, with paid breaks. Read More>>Executive Movements Adecoagro appoints Emilio Federico as the new Chief Financial Officer Mr. Gnecco’s appointment became effective as of February 8, 2023, and he succeeds Mr. Carlos Alberto Boero Hughes, who has decided to take on new personal and professional endeavors. Read More>> Flowers Foods names Cindy Cox HR chief effective Feb. 6, 2023 Cindy joined Flowers from Carrier Corp., most recently serving as vice president of human resources for the refrigeration segment. Cox assumes the role from Tonja Taylor, who plans to retire in early summer 2023. Read More>> Marley Spoon appoints Aldi’s Mark Richardson as Chief Marketing and Commercial Officer Mark replaces Kate Whitney starting February 13. In his most recent position as a chief marketing officer at Aldi Australia for six years, Mark played an instrumental role in elevating the brand’s unique personality and propositions. Read More>>Financial and Market Activity L’Oreal FY Profit Increases The company reported that its net profit attributable to owners of the company for the fiscal year 2022 increased to USD 6 Bn or USD 11.39 per share from USD 4.9 billion or USD 8.81 per share last year. Sales for the fiscal year 2022 were USD 41 billion, up 18.5% from the prior year. On a like-for-like basis, L’Oreal group sales growth was 10.9%. Read More>> Trent Ltd posts Q3 net profit of USD 19.45 Mn The company’s revenue for the quarter was USD 278 Mn, as compared to USD 181 Mn in the third quarter of the financial year 2022. Trent’s total expenses during the quarter were at USD 264.6 Mn. Read More>>
Latest Industry Insights from Draup Braindesk
Rent-A-Center is strengthening its retail business by expanding retail centers across the US and offering high-quality, durable goods that enhance the life of underserved consumers.
The company expands its e-commerce offerings and mobile applications and leverages its cloud-based point-of-sale platform to manage orders more efficiently and lower losses.
Rent-A-Center primarily increases store deals due to e-commerce growth and strengthens its retail business by expanding its potential customer base.
Rent-A-Center strengthens consumers’ shop in-store & online shopping flexibility options. Continuous expansion of technology focuses on enhancing its omnichannel platform to offer customers a seamless experience across channels, markets, products, and brands.
External economic conditions have continued to affect retail traffic and customer payment behavior. These recent inflationary conditions have had challenges for customers.
Disruptions in the supply chain have resulted in an inability to satisfy consumers’ expectations and difficulty stocking stores and distributing items, which affect earnings.
The firm is heavily dependent on data provided by third-party providers. Its data providers could stop providing data and provide untimely, incorrect, or incomplete data, which impacts an insecure data security breach.
Losing access to this external data becomes less economical, and business would be negatively impacted, materially and adversely affect the financial condition.
The company invests in digital payment solutions and communication channels to widen its target-customer demographic and retain customers.
Rent-A-Center is keen to provide a frictionless virtual lease-to-own (LTO) experience to its retail partners and customers through an integrated omnichannel strategy. With a flexible LTO strategy, it expands the virtual partner base and efficiently caters to customers.
The firm accelerates e-commerce, expanding product categories, including emerging product categories, to improve the integrated customer experience.
Digital marketing, omnichannel shopping, and e-commerce are the key market trends for RentA-Center.
New rapid and significant changes and evolving industry standards adopted by a few competitors pretend to be a menace to the Rent-A-Center.
– The Aaron’s Company opened its retail center in Flint, Michigan, to offer a direct-to-consumer lease-to-own solution, which aims to transform the in-store customer experience and expand assortment and payment systems. It would ultimately affect Rent-A-Center retail center’s expansion.
– Big Lots partnered with DoorDash to boost e-commerce and offer low-priced products with on-demand delivery of its bargains, treasures, and home essentials. It would affect Rent-A-Center’s e-commerce solutions.
The Tron blockchain will invest USD 100 Mn in the AI sector
The company is leaning into the artificial intelligence revolution with the launch of a new USD 100 Mn AI development fund. The fund aims to encourage developers to build Tron blockchain applications leveraging upcoming AI tools like OpenAI’s ChatGPT in the backend and front end. The move is part of Tron’s AI integration effort. Justin Sun tweeted that the platform would include “an AI-oriented decentralized payment framework” for ChatGPT and OpenAI using Tron oracle WINkLink, DeFi applications JUST and SUN, and AI integration in smart contract development and the APENFT marketplace. Read More>>
Company – Mad Street Den Total Funding – USD 55.82 Mn About: Mad Street Den is a computer vision and artificial intelligence startup. Vue.ai is its first vertically integrated AI stack for Retail. The AI stack provides 360-degree solutions for the entire Retail value chain with products supporting on-site, on-app experience to marketing and social channels to operations and automation. Read More>>
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