M&S deal loses its fizz
M&S has been criticised by shoppers after its £10 champagne deal advertised on television as a “Christmas showstopper”, sold out within minutes of stores opening raising questions over whether there was enough stock to support the deal. The sell-out deal came ahead of an Office of Fair Trading report on “bait advertising” and misleading advertising tactics expected tomorrow (2 December).
Stores slammed over open doors
Retail stores are being criticised for wasting energy and harming the environment by leaving their doors open during winter. A study by lobby group Close the Door found that retailers could halve their energy bills by keeping doors shut in cold weather.
From The Guardian
Consumer confidence hits new low
Consumer confidence hit a 21-month low as a result of public spending cuts, according to GfK NOP.
Sainsbury’s loses two directors
Two of Sainsbury’s directors have left the chain to join rivals in what the supermarket says are “unrelated” moves. Sara Bradley, clothing director will join Asda. Adrian Mountford, general merchandise director will join Matalan.
From The Times
Amazon to expand globally
Amazon plans to revamp its international e-commerce platform so that it is better placed to expand into new markets.
Sainsbury’s and Kingfisher chiefs to advise Government
Sainsbury’s CEO Justin King and Kingfisher Group CEO Ian Cheshire are among the big business leaders Lord Browne has approached to advise the Government.
Sir Tom Hunter to sell Office
Retail entrepreneur Sir Tom Hunter is in exclusive talks with private equity group Silverfleet Capital over the sale of the Office shoe shop chain. The deal is thought to be worth £150m.
From The Financial Times
Pensioners struggle with Christmas shopping
The high-street is largely unsuitable for pensioners as low shelves, lack of seating and deep supermarket trolleys create obstacles for older shoppers.
Family spending falls for first time
Family spending has fallen for the first time since records began in the 1970s as consumers spend less each week as a result of the recession.
Christmas shoppers hit with cotton price rises
Retailers have brought forward price rises on clothing items such as knitwear to take advantage of shoppers buying gifts in the run up to Christmas. Rises of up to 26% are linked to rising cotton prices.
From The Independent