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ICYMI AND WHAT WE ARE READING – April 2023


We make it easy for you to keep up to date with what's happening in the world of retail. Check out what we are reading this month and why.



 

Coles and Uber Eats have teamed up for on-demand delivery partnership

Operating within the Uber Eats app, customers will be able to buy Coles’ products from nearly 40 locations. Currently customers in Melbourne will be the first to be able to use this service, which will expand to 500 stores across the country in the following months.


 

Iconic kiwi shoe brand Bobux placed in receivership

Following Covid-related supply chain issues, overstocking and an IT system revamp, Bobux has been placed in receivership.


Co-founder Chris Bennett said, ‘This is a tragic outcome for our staff, suppliers and customers after putting our hearts and souls into the business for 30 years. Our sincere hope is that a buyer can be found to take Bobux forward.’



 

Temu online marketplace launches in Australia

Online marketplace rivalling Shein, with quick factory to consumer turnaround and low prices has officially launched in Australia.


Launching thousands of products a day, Temu allows global vendors to sell and shop directly to US customers without having to rely on warehouses in the US. They also integrate gamification into its site with a campaign on social media where the more you convince others to sign up, the more credit you earn.


 

Kogan Q3 results show sales continuing to decline but has returned to underlying profitability

Kogan has had a rough period following lockdown related overstocking. Despite a 28% drop in sales, the business has returned to underlying profitability.


CEO Ruslan Kogan says, ‘The journey to get here has been one of the toughest in our 17 year history, but also one of our most rewarding. It goes without saying – we are a far stronger Company today than ever.’


 

Walmart, Amazon and target to gain market share with the closure of Bed Bath & Beyond

With Bed Bath & Beyond filing for bankruptcy and no buyer stepping up to take it over, their market share is now up for grabs from competitors selling similar merchandise and stores interested in its leases.


 

What we are reading





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