Indian online grocer BigBasket registers losses in 2020 despite of 36% growth in revenue growth

INDIA – BigBasket, a leading Indian online grocer, has reported a 26% rise in losses for the 2020 financial year even as it managed to record a 36% growth in revenues, regulatory documents have shown. During the 2020 financial year, losses shot up to Rs 710 crore (about US$97.335 million) from Rs 562.6 crore (about US$77.127 million) in FY19, driven up by a one-time cost of Rs 117 crore (about US$16.039 million). The rise in losses was despite of the company recording a 36% growth in revenues. Revenues rose to…

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Asia-focused delivery platform Foodpanda committed to Myanmar expansion despite of uncertainties

THAILAND – Asia-focused delivery platform Foodpanda has reiterated its plans to expand its grocery offerings in Myanmar, despite the uncertainty occasioned by a military coup. Speaking to reporters, Foodpanda Director of New Verticals Abhishek Sahay said that FoodPanda definitely has it in its plans to launch Pandamart in Myanmar, Laos, Cambodia and Japan this year Sahay however noted that the firm was monitoring the situation in Myanmar and that it would assess that before committing to a number of stores. A Pandamart is a small-scale warehouse purpose-built for grocery delivery…

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Consumer shift towards smaller brands deny big food companies sales worth US$12B in 2020 – IRI

GLOBAL – Small consumer brands are the new thorn in the flesh of big food companies, causing them to lose US$12.1 billion in sales in 2020, a new research by IRI has revealed. According to the research, the pandemic accelerated the consumer shift toward smaller manufacturers, as big companies struggled to meet demand and shoppers tried smaller or niche brands. This allowed smaller CPGs and private label to gain 1.3 points in share, or US$12.1 billion in sales, marking the fifth consecutive year that large manufacturers have lost market share. …

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AgVentures buys into South African online farmer marketplace Skudu

SOUTH AFRICA – AgVentures, one of Africa’s leading agrifood tech investors, has acquired a stake in Skudu, a South African online marketplace for agricultural inputs and produce. According to AgVenture the partnership is aimed to spear-head expansion of the e-commerce platform beyond its primary market in South Africa to the rest of the region.  “We were attracted to Skudu due to their highly experienced management team, ambitious plans and traction gained in a short space of time. “We believe that Skudu will bring much needed innovation to the South African…

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Uber to expand presence in food delivery market with acquisition of alcohol ecommerce platform Drizly

US – American technology company Uber is acquiring on-demand alcohol platform Drizly for about US$1.1bn as the ride-share company looks to expand delivery services that have flourished during the pandemic. Founded in 2012, Drizly is an on-demand alcohol marketplace that currently operates a delivery service in more than 1,400 cities across a majority of US states.  The company partners with thousands of local merchants to provide customers with a variety of beer, wine and spirits. Upon completion of the transaction, Drizly will become a wholly-owned subsidiary of Uber and its…

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Jumia to establish new technology center in Egypt to provide unprecedented services in the market

EGYPT – Jumia, an e-commerce platform has announced that it is embarking on a new technology center in Egypt that is inspired by the country’s leadership in the field of information and communications technology as a result of its well-trained cadres. According to Jumia, the new technology center will provide its services to the Egyptian market as well as Africa at large. The center was pre-launched last year for a test and postponed due to the COVID pandemic. “Egyptian efforts are the main reason for this announcement. From the first…

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US online packaged food and beverage sales could top US$100B in 2021- Food Industry Association

US – Online sales of packaged food and beverages could hit as much as US$109 billion this year, according to research by the Food Industry Association (FMI) and NielsenIQ. In the report, FMI and NielsenIQ said that  many consumers will continue buying online this year, and depending on numerous factors, including the vaccine rollout and the economic recovery, online packaged food and beverage sales could range from US$94 billion to US$109 billion. With the anticipated rise in online sales, FMI and NielsenIQ note that companies now have a US$58 billion…

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Carrefour Kenya opens 10th store as Uchumi Supermarket revives Lang’ata Hub

KENYA – Dubai-based conglomerate Majid Al Futtaim (MAF) and the regional franchise holder of Carrefour has opened a new outlet in Nairobi’s Nextgen Mall, along Mombasa Road. The new store occupying 1,800 square feet, is the tenth for the retailer in Kenya, stepping up competition for retailers such as Naivas and Quickmart who are also in an expansion spree, reports Business Daily. “It’s finally here! The new Carrefour is now open at the Nextgen Mall. Bring your friends and family for the same quality products and unbeatable prices,” said the…

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Egyptian food ordering platform elmenus gets backing from industry veteran

EGYPT – Egypt’s main food-delivery app elmenus has received an investment from the former Chief Executive Officer of Just Eat, David Buttress. David, who led the London-based company from 2013 to 2017 before its merger with Takeaway.com, has invested a “relatively significant” sum in the Egyptian app, and will be joining its board, bringing decades of immense entrepreneurial and investment experience to the company. “Elmenus’ exponential growth this past year has been quite remarkable. It has been owning the food discovery approach, making it the stronger partner to restaurants as…

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Spur Corporation continues to be negatively impacted by COVID-19 reporting 29.5% decline in sales

SOUTH AFRICA – South Africa based fast–food chain operator, Spur Corporation has reported a 29.5% decline in sales to R2.9 billion (US$193 million) for the six months ended December 31, from R4.1 billion (US$273.4m) in the same period a year earlier, due to COVID -19 trading restrictions and lower consumer disposable incomes. Sales from franchised restaurants in South Africa declined by 31 percent with sales from international restaurants decreased by 17.3 percent in rand terms. South Africa’s restaurant sector has been one of the hardest hit industries by the COVID-19…

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