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From zero down payments, big discounts to cashless transactions, auto makers get innovative to beat demonetisation slump
In order to counter the negative sales post demonetisation, auto makers are using innovative marketing techniques like zero down payments, big discounts and cashless payment options to push sales.
Since the announcement of demonetisation of high value currency notes, there has been a direct impact on sectors like auto, ecommerce, reality and FMCG among others. In view of this adverse impact on major industrial sectors, the Asian Development Bank (ADB) recently reduced India’s growth forecast for the current fiscal to 7%, from 7.4% estimated earlier, on account of the effect of demonetisation.
Auto sales pre & post demonetisation
Talking about the auto sector in particular, the sales of all the major players like Maruti Suzuki, Mahindra and high end car manufacturers like Mercedes and Audi have witnessed dip in sales. This is starkly in contrast to the rigorous growth that the sector was witnessing prior to the demonetisation move. As per the sales figures released by the Society of Indian Automobiles Manufacturers (SIAM), the sales of passenger vehicles grew by 7.24 percent in April-March 2016 over the same period last year. Within the passenger vehicles, passenger cars, utility vehicles and vans grew by 7.87 percent, 6.25 percent and 3.58 percent respectively during April-March 2016 over the same period last year.
However, the sales report post demonetisation paints a grim picture of the auto sector. In December 2016, Maruti Suzuki saw a 4.4 per cent decline in sales. The sales of Wagon R and Alto witnessed a decline of 15 per cent year on year. Even the compact segment where the Dzire Tour has been the reigning champion saw a de-growth of nearly 29.2 per cent when compared to the same month in 2015. The sales of the Omni and Eeco also witnessed 17.1 per cent decline compared to the same period in 2015.
Passenger vehicle sales at Mahindra and Mahindra Ltd dropped 8% to 18,197 units over the year-ago period. The company has attributed the lower sales to the short-term effects of demonetisation as well as reduced and postponed purchase decisions.
Similarly, the impact of demonetisation is visible in the two wheeler segment too. The two-wheeler market leader Hero MotoCorp Ltd’s December sales skidded 34% to 330,202 units from a year earlier. Motorcycle volumes at Bajaj Auto Ltd dropped 11% to 106,665 units. Sales at TVS Motor Co. Ltd also fell 8% to 153,413 units, inclusive of scooters’ sales.
Tackling demonetisation with innovative marketing mix
In order to tide over the slump in sales posed by demonetisation, some of the major auto makers and online auto sellers are adopting innovative marketing strategy to push sales.
Major car makers are not shying away from accepting the adverse impact on their sales post the ban on Rs 500 and Rs 1000 currency notes. Calling the current period as a challenging phase for the auto sector, Yoichiro Ueno, President and CEO, Honda Cars India Ltd. said, “After a severe impact of demonetisation in Nov’16, the Dec’16 sales continued to be challenging. We expect the New Year to gradually bring back normalcy in the market. During 2016, HCIL sold a total of 1,56,107 units in domestic market and we are thankful to our customers to have continued faith in the Honda brand.”
Sharing how Honda is using innovative marketing techniques to push sales, Jnaneswar Sen, Senior Vice President, Sales and Marketing, Honda Cars India Ltd, said , “In order to ease deal closure and give comfort to the customer we have negotiated hundred per cent on road and ex-showroom funding deals with HDFC, AXIS, and ICICI Bank. Most of our dealers also have started to waive the card charges or implemented cashless payment method for servicing payment. In order to support our dealers, we are putting the highest priority to avoiding piling up the stocks at our dealers.”
Even in the used cars segment, major players are adopting ingenious methods to keep the buying sentiment up. Explaining how used car players are deploying out-of-the-box marketing tactics to push sales, Shubh Bansal- Chief of Marketing and Growth at Truebil stated, “In our case the overall impact has not been that much as we dealt with electronic payment methods even before the demonetisation move was announced. Moreover, we adopted a three pronged strategy to make it easier for our customers to buy cars and it included: incentivizing buyers with 2gm gold coins, reduction in booking price to Rs 2000 from Rs 35000 and the facility of ‘test drive at home’. These were some of the new approaches that helped us to keep the sales going despite the cash crunch.”
“To combat the demonetisation slump, used car dealers have aggressively adopted the digital payment methods including payment wallets. Even used car loans have been made easily available”, added Vikram Alva - Head Used Cars, CarTrade.com.
Speaking about how the online auto marketplace is making it easier for customers to do cashless transactions in a bid to counter the cash crunch faced by customers, Sandeep Aggarwal - Founder and CEO, Droom said, “We have invested very heavily in last two years to create India's most advanced end to end online transaction platform for automobiles. Our online tools and technology such as Orange Book Value and Eco are the enabler of online transactions for automobile and the current change will accelerate adoption of these tools. Finally, only 0.3% of total automobile transactions flow through online and this will be 8% to 10% by 2020.”For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube


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Nilekani and Jhunjhunwala have together invested Rs 100 crore in the pre-IPO placement, valuing Coffee Day Enterprises at Rs 6,000-6,500 crore.
As the weather hits the summer pedal hard, fast food outlets like McDonald’s, Pizza Hut, Starbucks and Domino’s Pizza are offering discounts to counter sluggish consu.
Bakers Circle counts global quick service restaurant chains such as Jubilant Foodworks, Subway, Yum Brands and Café Coffee Day among its clientele.
Quick service brands such as Faaso’s, Goli Vada Pav and Café Coffee Day are cashing in on the crowds at the mega event as an additional revenue stream.
Navajivan Trust set up by Mahatma Gandhi himself quietly opened a café a day before the death anniversary of Gandhiji to take his message to the youth.
As per the plan, the food chains can deliver meals ordered online directly or use the railways’ network of food plazas to deliver in trains.
Multiple studies published worldwide in recent years have concluded that coffee can be good for the health.
Chaayos is in advance talks with venture capital funds and is hoping to close the deal soon.

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Despite relying on the brand for what it hoped would be a turnaround this year, Revlon put little in the way of traditional media toward Vital Radiance's mid-January launch. TNS Media Intelligence/CMR numbers show Revlon spent only $700,000 on the brand during the first three months of 2006 as compared to Procter & Gamble's $9 million during the same period for its own brand for the over-50 set, Advanced Radiance. The P&G brand also received a measured-media outlay of $14.2 million last year.
"Revlon has been facing really strong competition from L'Oreal and from P&G's Advanced Radiance -- both of which really outspend Revlon," said Carrie Mellage, industry manager of consumer products for Kline & Co., New York.
Mr. Stahl admitted as much, saying, "Our efforts to create awareness for the new brand were not having the total impact that we had thought they would" given the competitive environment. As a result, Vital Radiance will be pulled from a number of Wal-Mart and Target stores, though Mr. Stahl maintains that the brand has been selling quite well in drug and food stores.
Advertising for Vital Radiance is handled by the Publicis Groupe's Kaplan Thaler Group, New York, which won the Revlon business (with the exception of its Almay brand, given to Arnell Group, New York) in March of 2005.
Going forward, analysts predict Revlon will cut costs and drive efficiencies to make Vital Radiance more profitable but won't increase spending.
The focus on food and drug retailers instead of the smaller number of large-format retailers that will carry the product demands a re-evaluation of the "marketing levers that are working to build awareness and trial," a company spokesman said.
The levers that have worked for the more regional food and drug chains and regional divisions of larger format stores are in-store media including circulars and print media, with TV reserved for brands that command a pervasive national presence in the top mass channels.


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Karsan, one of the leading companies in the Turkish automotive industry, continues to take important steps towards growth with the motto of being “A step forward into the future of mobility”. Entering 2022 with the objective of doubling its growth in all areas, Karsan will deliver 30 e-JESTs under the agreement signed with Stolichen Avtotransport, the operator of the Bulgarian municipality of Sofia. After France, Romania, Portugal and Germany, where e-JEST is the most sold, Bulgaria will take its place among these countries. Karsan CEO Okan Baş said, “We doubled our exports in 2021 compared to the previous year and entered 2022 with the same growth target. In this context, we have signed a very important agreement. With our e-JEST model, Karsan won the tender for 30 electric minibuses for the city of Sofia in Bulgaria. kazanpente. We aim to deliver 30 e-JESTs to the city in 2022. We will continue to sign important deals this year as we aim to grow with our vision of the electric future.
Bringing the technologies of the future to today and shaping the industry with its flagship products, Karsan continues to lead the electric minibus market in Europe. With e-JEST, the first electric model that it introduced on the roads in early 2019, and which wrapped up 2020 and 2021 as the market leader for electric minibuses in Europe, Karsan won the tender 2022 electric minibuses for the city of Sofia in Bulgaria in 30. kazanwas. In this context, Karsan has signed a contract with the operator of the municipality of Sofia Stolichen Avtotransport for 30 e-JEST projects on the Bulgarian concessionaire BulBus.
It will enter service in 2022
With the deal, which will be among Bulgaria’s largest electric minibus deliveries, Karsan aims to deliver 30 e-JESTs to the city of Sofia in 2022. The Municipality of Sofia, meanwhile, aims to expand its eco-friendly transport service of the environment by putting these 30 commissioning of electric vehicles for urban public transport by the end of the year.
“An important part of our growth strategy”
Emphasizing that they entered the year 2022 with the goal of double growth in all areas, Karsan CEO Okan Baş said, “In 2, we doubled our exports compared to previous year, and we entered 2021 with the same growth objective. In this context, we have signed a very important agreement. With our e-JEST model, Karsan won the tender for 2022 electric minibuses for the city of Sofia in Bulgaria. kazanpente. We aim to deliver 30 e-JESTs to the city in 2022. We will continue to sign important deals this year as we aim to grow with our vision of the electric future.
“We will have a strong share in Bulgaria”
Recalling that Karsan delivered the first electric minibus to Bulgaria last year, Okan Baş said: “In 2021, we delivered 4 e-JESTs to Dobrich, Bulgaria. Now, as Karsan, we will grow here in the electric minibus segment, and by the end of 2022, we will have reached 34 electric minibuses with this project. The market for minibuses between 3.5 and 8 tons was 2021 in 65 in Bulgaria. in Sofia KazanWe have already taken a very important step with the tender for 30 electric minibuses, which we have already awarded. As Karsan, we believe that in 2022 we will have an ambitious share in the Bulgarian minibus market.
European leader e-JEST
Karsan e-JEST succeeded in gaining 2019% market share in its category in Europe in 24 years in the first year of its launch, and managed to become the best-selling model in its category in 43 years by pulling that share to 2020 percent one year later. According to the European Minibus Market Report of 2021-3.5 tons for 8 published by Wim Chatrou – CME Solutions; The eco model, which managed to improve on this success last year, managed to increase its share in the market for electric minibuses in Europe to 51.2% and became the champion of its category for two consecutive years. Karsan’s e-JEST electric minibus continues its growth trend with major deals signed in 2022.
The highly maneuverable e-JEST offers a range of up to 210 km.
Proven with its great maneuverability and unrivaled passenger comfort, e-JEST can be preferred with a BMW production electric motor producing 170 HP and 290 Nm torque and also 44 and 88 kWh batteries produced by BMW. By offering a range of up to 210 km, the energy recovery of e-JEST, which shows the best performance in the class of small 6-meter buses in this sense, kazan Thanks to the regenerative braking system that provides energy. energy, the batteries can self-charge in 25 percent. Equipped with a 10.1-inch multimedia touchscreen, a fully digital dashboard, keyless start, USB outputs and offering an optional Wi-Fi compatible infrastructure, e-JEST does not equal the comfort of a passenger car with its 4-wheel independent suspension system.


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Hoteliers are pleased with hotel occupancy for the holiday period, according to the president of the Cyprus Hotels Association (Pasyxe), Haris Loizides.
“Exact percentages cannot be given at present as we are still in the holiday season, but in general we are satisfied because occupancy is very high for this period,” Loizides told CNA.
Things also looked promising for September and October with high occupancy for both months, he added.
On the winter season, he said: “We expect good occupancy in November but after that, we will have to wait a little longer to see how things develop.”
Loizides noted that mountain resorts were also popular this summer but reservations lagged behind those on the coast.
He said subsidised holiday schemes through social insurance were helpful for hotels in mountain resorts but could not provide high occupancy over a long period.
Expressing confidence that the current record flow of tourists would continue, Loizides cautioned against complacency and making mistakes. “We must continue to be careful not to make mistakes. So far we are doing well, but things can easily change if we start repeating the mistakes of the past,” he warned.
Loizides also referred to a “slow down” in the past fifteen days from the Russian market, but said it was temporary.
This, he believes, is due to the fall of the ruble and the fact that the Turkish market has opened again to Russian tourists.


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The UK’s hospitality sector is expected to take over £100bn this year, but there are challenges as well as opportunities. Join us on Stand 2822 to find out more.
Getting payments right
Payments are obviously a key part of any hospitality business, but to drive success business owners first need to understand their customers. In an industry where profits have started to take a dive for some groups, it’s more important than ever to give them what they want. Part of that means providing greater choice in payment methods. UK card payments overtook cash for the first time this year and will continue to grow. So acknowledge this, and the growing numbers who want to pay via digital wallets on their smartphones, such as Apple Pay and Google Pay.
Customers also want speed and convenience: that means accepting contactless and payments at table via mobile card terminals. This convenience should extend to functionality which empowers staff to easily split the bill or add service without having to return to the fixed EPOS system. Hospitality owners should also be looking at ways to integrate loyalty programmes seamlessly into the payment experience — it could make all the difference to customer retention in what is an increasingly crowded high street.
The hospitality sector might cover a huge range of business types, but it’s important to remember that these payments best practices should be universal, whether you’re a high-end restaurant or a pop-up café. Consumers are increasingly demanding choice, speed and convenience and their tolerance for accepting anything less is rapidly diminishing. They also expect the places they eat and drink at to operate in a socially responsible way, which is where services like Pennies come in. Optomany has already helped countless organisations start accepting donations by switching on the digital charity box service at the till.
At the show
We’re looking forward to seeing what kind of payment innovations are on show among the 300+ exhibitors at Restaurant & Bar Tech Live. It’s a tremendously exciting time to be involved in the industry. For example, there are new opportunities in wearable-based payment systems just starting to hit the market. Another one to watch is payment via QR code — if that starts to gather pace it could transform the payment market as we know it. Also look out for PSD2-enabled direct bank transfer platforms which could bypass card use altogether.
At a time when retailers and hospitality businesses have plenty on their plate, from Brexit uncertainty to increased market competition, many may pull back from investments in new payment systems. That may not be wise: the best way to confront these challenges is finding proven ways to meet rising customer expectations.
To that end, Optomany has a wide range of cost-effective options to drive growth, success and loyalty for businesses of all shapes and sizes. If you work in hospitality, come down to the show next month and stop buy our stand to find out more.
What: Restaurant & Bar Tech Live
Where: ExCel London, Stand 2822
When: 25-26 September, 2018


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UK's Game On! show pushed back
HMV's new UK based video game expo, Game On! London, has been pushed back by the retailer - allowing them to make the consumer event "bigger and better".
Game On! was originally set to be held this coming weekend, so it is rather late notice for HMV to be pushing the show back. None the less, November is now on the cards.
The Earls Court arena in west London will now form the show's location, a far bigger setting that the previous Olympia National Hall plan.
We'll bring you more on this soon.


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Despite numerous technological advancements that have given us an increasing number of highly sophisticated toys in recent years, we still haven’t solved all our problems with battery life. Yes, battery life is a top concern for many smartphone makers and also for electric vehicles and almost anything that requires large amounts of energy to operate. Battery life and battery efficiency have yet to get a definitive fix, but various research products are aiming to offer the fix we’ve been waiting for.
Such is the case with a team from the University of Cambridge, which has created the “ultimate” battery: a lithium-oxygen battery that uses graphene electrodes to offer high-density, more than 90% efficiency, and can be recharged for up to 2,000 times. More →


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|You Save||$30.01 (76%)|
Aeropostale is taking up to 79% off during their Clearance sale. Even better take an Extra 50% off with Coupon Code: "JANAFEXCFI" (exp 1/13). Free Shipping on orders $100+. Tax in many states.
This is one of the strongest clearance coupon's we've seen recently. Aeropostale offers a variety of casual contemporary apparel, shoes, and accessories. We recommend checking out some of their sweaters and long sleeve shirts for some great layering essentials for the winterl. Be sure to purchase multiples to save on shipping.
Disclaimer: The Black Friday deal information given above is without warranties on accuracy and availability. Black Friday deals tend to sell out very quickly and as retailer only keep low inventories for doorbuster deals.
Aeropostale Clearance Sale - Up to 79% off + Extra 50% off Coupon
Black Friday 2015 is here. The early Black Friday 2015 Sales launched. I4U News is features in-depth coverage of Black Friday 2015 ads, deals, and sales. We have more Black Friday services and content than ever before. Find below the highlights.
Black Friday 2015 on I4U News
Find the latest Black Friday 2015 Deals
I4U News is daily News site for the Geek Mind. Expect the latest technology news including the juiciest rumors. Stay up to date with the biggest discoveries in science. Other featured news topics include cars, celebrities, movies and more.Read more.


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New research conducted by the UK's most well known loyalty scheme, Nectar, has revealed that over two-fifths of consumers are now eating out less regular.
This report is the latest to find consumer habits changing and diners shifting towards delivery firms such as Deliveroo and JustEat.
So does this affect taxi trades around the UK? Hard to tell. You could argue that we need customers out and about needing to get from A to B to make a living. However, were these local users ever our customers in the first place?
What is for sure is that all consumer markets are changing fast and the focus is most definitely on technology.


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Swiggy receives $ 43 million in additional funds
Bangalore: Swiggy, the largest online food delivery company, has raised more than $ 43 million in additional funds from sponsors such as South Korea's Samsung Ventures, Mirae Asset Capital Markets, Korea Investment Partners in addition to existing sponsor Tencent, bringing the total capital in this round to $ 156 million.
In February, Swiggy had been backed by existing investors such as Prosus, along with China's Meituan Dianping and United States-based asset manager Wellington, valuing the company at $ 3.6 billion.
The new round comes at a time when orders in the food delivery space have dropped by 70-80% due to the blockade, which also caused service interruptions as delivery people were beaten by police in many areas. At the same time, it is also seeing an increase in demand for new businesses, such as the SuprDaily micro-delivery platform and grocery supplies through Swiggy Stores. But Swiggy's valuation, which was set at around $ 3.3 billion in December 2018 after raising $ 1 billion, was already sobering, rising less than 10% to $ 3.6 billion after including the base of employee stock options in the current round. Swiggy's rival Zomato is also currently raising his new round of financing.
Swiggy has built a sustainable food delivery business over the years while addressing various customer weaknesses ... Our goal continues to be to execute on our vision while building a sustainable path to profitability, said Rahul Bothra, CFO of Swiggy .


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Most businesses have switched to using smartphones in regular business settings for all their employees, but every business seems to choose a different smartphone manufacturer based on current needs. One advantage Apple has had in the last couple of years is its program that doesn’t allow any data to be recovered if a password is forgotten or a phone is stolen. It means your private business information is protected from both strangers and hackers who can’t find any kind of loophole in. It might not be that way much longer, especially after President Obama voiced his opinion in favor of the FBI’s side of the case of the infamous Apple vs. FBI lawsuit.
About the case
This case has been dragging on for quite a while. Apple argues that its users trust that nobody, not even Apple themselves, is able to hack that information while the FBI argues that there should be a failsafe to allow access to that information in the event that it can help save more lives or help with an investigation, such as with the known terrorists who could provide information to stop other terrorists if given access to their iPhones. The case is making big news because it could have big implications for businesses and individuals in what privacy laws really can and cannot protect.
This week, however, President Obama officially took a stance when he stated his opinion that the government should not be able to access that information whenever they want but should always have the option to get access in the event that it is needed, according to the Orange County Register. His opinion on the subject could affect the result making it more likely for Apple to lose this one.
What this means for you
There are two things to consider in your business if Apple loses and the right to ultimate privacy is lost. First of all, your company will have to be careful about extra encryption for anyone using a phone. With loopholes in smartphone privacy, your business can’t trust that smartphone passwords will be enough. To resolve this, you’ll want to make sure and provide a second set of encryption on anything that accesses company information through a smartphone, and require logins every time a person gets in it instead of memorizing it on a smartphone.
Second, your company will need to remember that this kind of case would also lead you to sharing information with the government in the event of an investigation. When preparing your encryption and projects that are password-protected, you need to make sure there is a back entry into all of your employee accounts and programs. If the government may make you do it anyway, you might as well plan for that when creating the program.
Source: Orange County Register


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By Euro Weekly News Media • 18 March 2013 • 10:18
SAUSAGE FAIR: Jalon Valley showcases its local produce
HUNDREDS soaked up the sunshine while enjoying a breakfast of sizzling sausages and red wine in Jalon.
The town hosted its second sausage and traditional produce fair on Sunday with the fun starting with a breakfast of sausages and wine.
It was followed by a demonstration about the famous Mallorcan sausage sobresada which contains pork and paprika.
Various restaurants in Jalon offered special lunchtime menus featuring sausages. Other traditional products from the JalonValley were also on offer including honey and the local wines.
Visitors to last year’s event bought nearly 3,000 sausages of various types including butifarra, chorizo and salchicha.
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SANTA CLARA, Calif. – Companies looking to create robots often get bogged down in the challenges of robotics development, and pressures from investors to scale up and get to market quickly often prevent them from looking at other functionality options and other approaches that could help them find new markets. Silicon Valley robotics firm OhmniLabs hopes to change this approach by offering a new robotics-as-a-service offering to assist companies with speedier and more flexible robotics component development. The company also named Dr. James Kuffner, CEO at the Toyota Research Institute – Advanced Development (TRI-AD) to its advisory board.
As part of its commitment to accelerating the robotic development process, OhmniLabs aims to leverage its fifth-generation additive manufacturing process and modular robotics hardware and software stack with partners around the world bringing robots to market in record time, the company said. The new RaaS offering lets partners focus on market, customers, and sales, while OhmniLabs provides the end-to-end robotics, technology, and production components. Japan’s Toppan Merrill LLC, a global provider of integrated solutions in the fields of printing, communications, security, packaging, décor materials and electronics, is one of the launch partners, the company said.
“We see the true explosion of robotics coming from close partnerships between established companies who deeply understand their market and have mature marketing and sales channels and robotics companies like OhmniLabs, who can bring robots to reality in record time and at record cost,” said Jared Go, a co-founder of OhmniLabs. “This enables our customers to be innovative, rather than conservative. They now have the freedom to quickly iterate and test ideas without requiring a massive budget, and the corresponding risk.”
Go said the company would continue to sell its flagship Ohmni telepresence robot and development platforms directly, growing both sides of the business and taking advantages of synergies between them. “For example, many of our RaaS customers started out buying and testing their ideas on our development platforms,” he said. But for customers looking for customized option, OhmniLabs estimates that they can provide a 10x reduction in the robot development cost, time, and risk.
The RaaS model was developed after customers began asking OhmniLabs about customized options, Go said. For example, customers would ask questions like:
- Could they have a larger wheelbase for outdoor use?
- Could they add lights for inspection in dark factory areas?
- Could they have a super-high resolution camera for inspecting wounds?
- Could they autonomously photograph and survey a site?
“No typical product-centric robotics company would ever say yes, because it’s such a pain for them to make changes to the product,” said Go. “But we were in a position to try saying yes to some of these requests because of how little it costs us to produce and scale these custom changes – thanks to our ultra-lean additive manufacturing technology. Customers loved the changes and that incremental work we did to tailor-fit their use case added a ton of value, which they were more than happy to pay for!”
He added the company realized that off-the-shelf robots provide about 95% of the required functionality, but without the ability to customized, most companies were throwing it away and starting from scratch. “The best way, instead, is to make closing that 5% functionality gap a scalable business, and that’s where all the real value lies,” Go said.
A warning for robotics companies
Companies that are not lean enough, or fast and flexible enough to pivot to a better product and market fit is a systemic issue in the robotics industry, he added.
“The failures of robotics companies that have consumed upwards of $50 million have shown that the traditional robotics development pipeline is broken,” said Go. “To VCs, more capital is not the answer – in fact, it can often be part of the problem,” as companies are forced into scaling their team, target production numbers, and shorten time to mass production.
“We started OhmniLabs in 2015 with the thesis that to become one of the best robotics companies in the world, speed and flexibility and iteration time is the most important,” he said. “If, as a company, you can try 100 ideas to add value to the world via robotics, you’re much more likely to succeed than if you pour everything into one shot that’s boom or bust. Even better, you have the flexibility of reusing technology across all these robots you try and make, rather than all that overhead cost the first time you go and make a new robot from scratch.”
Adding Dr. Kuffner
The company said that both co-founders, Jared Go and Thuc Vu, were studying under Dr. Kuffner during their undergraduate years at Carnegie Mellon University, and Thuc reconnected with Kuffner during this year’s RoboBusiness at CES event. Kuffner is a pioneer in the cloud robotics space, and his status within the robotics community helps connect the company with potential partners and advisors to help them grow the business faster. His experience and insights will be helpful in identifying new vertical markets that OhmniLabs can apply its technologies.
“We are delighted to have Dr. Kuffner onboard as an advisor,” Thuc said. “Today he continues to inspire and motivate us through both his thought leadership and practical applications of robotics technology across various methodologies and industries.”
In a statement, Kuffner said he was also honored to be joining the company’s advisory board. “I have tremendous respect for Thuc and Jared as entrepreneurs and innovators, and I look forward to working with them.”


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September 29, 2022
Automobile sales have increased by 20-25% year-on-year (YoY) led by a 12-14% volume growth
The operating margin is expected to stabilise at 3-5%
The January-May period of FY22 witnessed a steady recovery of retail auto registrations, due to the easing of semiconductor shortages
The operating profitability of Passenger Vehicle (PV) and Commercial Vehicle (CV) dealers is expected to reach pre-pandemic levels of 4-5%
Automobile dealers are expected to record their fastest revenue growth in three years with sales increasing by 20-25% year-on-year (YoY) led by a 12-14% volume growth, according to a report by market rating agency Crisil.
The report was based on a study of 113 automobile dealers by the company.
Factors such as increased preference for personal mobility, higher economic activity, easing supply-side constraints, a shift in product mix towards higher-priced vehicles, and price hikes of vehicles by 5-7% are aiding the sector’s revenue growth.
Operating margin is expected to stabilise at 3-5% this year compared to 4% last year, backed by an increase in vehicle sales and a larger contribution of the more-profitable ancillary revenue from service, spare parts and insurance to 10-12% of total income in FY23, as per the report.
The January-May period of FY22 witnessed a steady recovery of retail auto registrations, due to the easing of semiconductor shortages. According to the report, dealers of the Commercial Vehicle (CV) and Two-Wheeler (2W) segments will grow on a lower base due to a reduction in sales over the last two-three years. However, dealers of Passenger Vehicles (PV) are expected to see a stronger recovery.
The operating profitability of PV and CV dealers is expected to reach pre-pandemic levels of 4-5%, and the margins of two-wheeler dealers are expected to increase gradually to 3-4% this year. During pre-pandemic times, their profitability stood at 4%.
As Original Equipment Manufacturers (OEM) are seeing a positive growth outlook, PV dealers are expected to see strong volume growth of 17-19%. Media reports said that the overall revenue growth of 24-26% was achieved, owing to an average realisation for each vehicle due to an increase in the proportion of higher-priced utility vehicle sales.
Due to a rebound in economic activity, higher replacement demand, and the government’s infrastructure push, volume growth for CV dealers has reached 20-22%. Additionally, price hikes of 4-5%, following higher input costs, are likely to increase the overall revenue growth in the CV segment to 25-27%.
Revenue growth for CVs in FY22 is expected to be at 15-18% with reduced volume growth at 9-11%, due to slower recovery in rural demand, price hikes and competition from electric two-wheelers. Experts said that auto dealers will improve their debt metrics this year, with higher cash flows, lower inventory costs and strengthening balance sheets.
Source: Economic Times


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I mostly field produce stories on a variety of topics — things like small business, immigration, manufacturing, trade, elections and hurricane recovery. I'm also responsible for booking guests, editing interviews, researching and writing stories for broadcast.
What was your first job?
In my very first job at the age of 16, I was a telemarketer.
In your next life, what would your career be?
A detective! Or an interior designer!
Fill in the blank: Money can’t buy you happiness, but it can buy you ______.
Lots of shoes!
What’s the favorite item in your workspace and why?
A colorful photo of Juan Gabriel (¡Que viva!)
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Weathering the economic storm, this small-business owner remains optimistic
Feb 6, 2023
Like other retail businesspeople, Amelia Freeman-Lynde of Durham, North Carolina, has grappled with supply chain and staffing issues.
Remote workers increase demand for co-working spaces
Jan 26, 2023
"We've had a huge increase in co-working memberships and demand for that, as well as meeting room rentals," said Audrey Hoyt, co-owner of The Pioneer Collective.
These NY farmers are building a space to teach Black people about farming
Jan 12, 2023
Ashanti Williams and Arian Rivera of the Black Yard Farm Collective talk about moving their farm to a new location and working with kids.
What does it mean when the Federal Reserve uses its “tools”?
Mar 29, 2022
The Fed’s tools can only go so far. “All of this activity relies on the other institution at the end of the transaction,” said economics professor Nina Eichacker.
Workers are hanging up business casual for business comfort, Stitch Fix CEO says
Feb 16, 2022
"We hear about two-thirds of our consumers saying they're ready to swap out clothes," Elizabeth Spaulding says.
This microbusiness owner is riding a roller-coaster
Feb 2, 2022
Running a microbusiness in a pandemic economy is tough. Businesses that rely on human interaction have to be creative to survive.
Two years into the pandemic, this microbusiness owner is still on "a roller coaster"
Jan 19, 2022
"My brain is tired from adapting so much," says Ashlie Ordonez, owner of The Bare Bar in Denver, Colorado.
As a microbusiness, surviving the pandemic means taking it one day at a time
Jan 11, 2022
On top of pandemic disruptions, supply chain issues make running a business — including a small cheese shop — even more challenging.
The freelance economy has grown since the start of the pandemic
Dec 8, 2021
Upwork's latest study found that amid the Great Resignation, more professionals are considering freelance work in the future.
"Digital-first mentality" will accelerate for shoppers and sellers, Visa CEO says
Dec 1, 2021
Despite the omicron variant, "the recovery we're in has an awful lot of momentum," says Visa chief Al Kelly.


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With so many new cannabinoids, HHC, Delta 8, Delta 9, and even THC-O it can get confusing quickly…take a quick look at what THC is most beneficial for your needs…Continue Reading
The federal legalization of hemp through the 2018 Farm Bill removed restrictions on a wide range of molecules produced by the cannabis plant—including, a new court ruling says, the psychoactive cannabinoid delta-8 THC.
A panel of the U.S. Court of Appeals for the Ninth Circuit wrote in an opinion published Thursday that products containing delta-8 THC are generally legal…Continue Reading
Delta 8 Legal status is challenged in Catoosa County, Georgia. Smoke shops in Catoosa County recently got a letter from Sheriff Gary Sisk notifying them they are violating state law.
The letter says “the products the sheriffs office has purchased and tested all contain significant levels of Delta 9.” Is Delta 8 THC Legal in Georgia…Continue Reading


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Despite the Covid-19 induced challenges on businesses, property firm Zimre Properties Investments (ZPI) recorded rental income growth of 27 percent to $24,21 million during the half year to June 30, 2020 compared to $19,05 million attained in the corresponding period last year.
According to ZPI, rental income was boosted by regular upward reviews and improved turnover rental on retail space.
“Notwithstanding the challenges, the portfolio performed well with rentals remaining resilient in the face of mounting pressure on rental rates,” said the group in a statement accompanying financial results for the period under review.
“Month-on-month rent collection averaged 100 percent for the period under review, a decent performance considering the challenging operating environment,” said ZPI.
Despite the regular reviews, the depreciating exchange rate and hyperinflation negatively affected portfolio incomes and hence fair values.
According to ZPI, investment properties were valued at $2,25 billion by independent valuers as at June 30, 2020, representing a 75 percent growth from December 2019.
However, in US dollar terms, the portfolio value declined reflective of the discount on portfolio rental income in US$ terms and the deteriorating exchange rate.
Profit for the half year of $946,67 million was realised compared to $580,67 million in the same period last year.
Total revenue for the half year declined by 29 percent to $27,06 million from $37,96 million achieved in the first half of 2019.
The pandemic paralysed performance of tourism related assets, student accommodation and project sales while it negatively affected office space. However, retail remained somewhat resilient and management’s view is that in the medium to long-term these assets will recover.
During the review period, commercial real estate sales market has been dormant as investors are not prepared to sell in local currency. Sales on the market, albeit at a slow pace because of liquidity challenges, are mostly of residential properties.
As a result, sales went down 87 percent to $2,38 million, down from $18,13 million achieved in the previous half year.
“Projects income significantly declined during the half year mainly as a result of the Covid-19 induced lockdown which restricted marketing of the stands and movement of potential purchasers,” said ZPI.
Average portfolio vacancy rate marginally worsened to 23 percent from 22 percent over the review period.
Harare CBD office, Bulawayo CBD office and the Gweru industrial facility recorded the highest void rates.
Plans are underway to change the uses of some of its CBD properties, as the performance of that segment continues to weaken. Some of the indicated alternatives uses include student accommodation, boutique hotel and even residential apartments.
A general trend in the office space segment is that businesses and other organisations now prefer suburban office as there is less traffic congestion and no expensive municipal parking space, among other factors.
And the CBD office space segment is expected to take a further hit from the pandemic as work-from-home routines take hold.
“The company is pursuing possibilities of converting Harare CBD properties to alternative uses. The First Street and Nelson Mandela corner is the immediate target area,” said ZPI.


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Turkish manufacturing PMI survey data signalled a steepening downturn in the goods-producing sector in March, said Markit on April 1, noting that output, new orders and new export orders all fell at sharper rates during the month, and employment failed to grow for the first time in nearly six years.
The headline HSBC Turkey Manufacturing PMI fell from 49.6 to 48.0, the lowest reading since April 2009 and indicative of a marked overall deterioration in operating conditions with four of the headline index’s five components exerting negative contributions in March, the exception being stocks of purchases.
Purchasing activity remained broadly unchanged as firms faced the dual headwinds of declining demand and a steeper increase in input prices linked to the stronger $, meanwhile stronger cost pressures led to the steepest increase in prices charged for manufactured goods in nearly a year, said Markit.
Here are the highlight from the March survey:
* New orders received by Turkish manufacturers fell for the third month running in March, the pace of contraction accelerated to the sharpest since August 2011
* The same trend was evident for new export orders, despite the weakening of TRY against $
* Firms generally commented on weak domestic and international market conditions
* Output fell for the third month running, and at the strongest rate since April 2009
* Cost pressures intensified in March
*Input price inflation accelerated sharply to the fastest since March 2014, with companies widely attributing higher prices to the strengthening $
Turkish economy grew by 2.6% y/y in the final quarter of 2014 (market consensus: 2%), driven mainly by private demand. As a result, full year growth was 2.9% versus 4.2% in 2013. Households’ final consumption growth increased to 2.4% y/y in Q4 from 0.1% y/y in the previous quarter, but the weakness in private investment was evident in GDP data. Private investments rose by 0.9% y/y in the fourth quarter after rising 2.1% y/y in Q3, but public investments fell by 7.3% y/y that came on top of the 10.4% y/y decline in the previous quarter.
The government expects the Turkish economy to grow by 4% this year to create an $850bn economy but the markets’ forecast is a more moderate GDP growth of 3%.
|Real GDP growth in Selected Major Sectors|
|Agriculture, forestry and fishing||-1.9||3.5||-2.6||-4.9||1.4|
|Wholesale and retail trade||1.4||3.2||0.2||0.8||1.5|
|Transportation and Storage||2.6||3.3||2.8||3.1||1.4|
|Finance and Insurance||7.0||14.0||7.1||5.2||3.0|
The European Central Bank governing council met in the Latvian capital Riga on June 14 with the host, the beleaguered governor of Latvijas Banka Ilmars Rimsevics, not attending. Rimsevics ... more
A one to two-notch downgrade is implied for Turkey by the spread on its sovereign USD eurobond due 2028, Raiffeisen Bank International (RBI) said on June 12. In a note to investors, RBI analyst ... more


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Gerald Slota's 'Hansel and Gretel,' from the Fable series.
- Filed Under
Gerald Slota's multilayered, photo-based work is the type of art that the people behind Castell Photography want to be known for.
Slota, whose book "Story" was listed as one of The New York Times Magazine's top photo books of 2012, is also helping the gallery be known.
Since Slota connected with Brie Castell and Heidi Gruner through Hatch, a networking and creativity nurturing event, in 2011, the New York-based photographer has "opened opportunities for the gallery," said Gruner, gallery director. ...


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iSoftBet Partners Up with Amatic Adding New Games to Their GAPPublished November 13, 2016 by Ivan P
iSoftBet adds Amatic Industries games to their portfolio, expanding their offer and creating new opportunities for Amatic.
iSoftBet, the company owning one of the most popular Gaming Aggregation Platforms (GAP), has announced a new partnership with Amatic Industries, a family-owned casino software and games developer.
Mutually Beneficial Cooperation
Currently, iSoftBet's GAP offers games from more than 20 various game developers. For online casinos, one of the main advantages of using a GAP over going to separate game suppliers is quick and seamless integration of a huge library of games.
To stay competitive and relevant in the market, iSoftBet needs to continuously update their offer with new games. A partnership with Amatic is another move in that direction, making sure they maintain their spot as one of the leading content providers.
For Amatic, a deal with a giant such as iSoftBet represents a great opportunity for their games to gain more visibility. Being a part of the industry for more than two decades, Amatic has a unique approach to casino game development and now they will have a chance to present their solutions to much bigger audiences.
About the Companies
Featuring an impressive library of games from the biggest game suppliers in the market, as well as many of their own titles like Paranormal Activity, Basic Instinct, or Rambo, iSoftBet has become a go-to place for many online casinos looking to fill up their game libraries. Having required experience, dedicated development and support teams, and deep understanding of the industry, iSoftBet provides full-scale solutions for all online gaming needs.
Amatic Industries is an Austrian online casino software supplier founded in 1993. Apart from various games, the company also provides server-based video loyalty terminals and white label casino solutions. Although they are primarily focused on land based casinos, the company believes this approach will find a great response with online audiences as well. The latest partnership with iSoftBet should be a significant step forward in that direction.


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A dashcam captures an accident where a truck tries to pass another truck; but gets hit by oncoming traffic. Shortly after that accident ends; the car with the dashcam nearly gets hit by another truck. Source: Break Trending Videos -
The publisher of "Grand Theft Auto" and other video games reported profit and sales in the latest quarter that beat analysts' expectations. The footwear and accessories retailer reported earnings for.. SeattlePI.com
Video games producer Take-Two Interactive Software Inc (NASDAQ:TTWO) bounced back from the disappointment of a delay to its next potential blockbuster with fourth quarter earnings that smashed market.. Proactive Investors
The company that makes "Grand Theft Auto" isn't known for pumping out games. You may recall that the last "GTA" game came out in 2013 — that's the most recent release from Rockstar Games.
But a.. Business Insider
Microsoft has filed a lawsuit against a number of parties, including a Chinese company that allegedly hacked Xbox accounts since 2015 and sold in-game credits for a large variety of games. As revealed.. Softpedia
Good morning! Here is the tech news you need to know this Tuesday.
*1. Apple just launched a new attack on Android.* The iPhone maker has launched a website aimed at persuading people who currently.. Business Insider
Since 2015, a Chinese gaming website has been hacking Xbox accounts and selling the proceeds on the open market, according to a complaint filed by Microsoft in federal court on Friday.
On its.. The Verge
The next major game from the folks behind "Grand Theft Auto" just got hijacked right out of its original release date.
Originally planned for a launch this fall on Xbox One and PlayStation 4, "Red.. Business Insider
Watch VideoA robot is trying to drive around the virtual city of "Grand Theft Auto V," and it's going just great.
Twitch user sentdex created Charles, a neural network strapped to an indestructible.. Newsy
While automakers are still negotiating with local and state governments to let autonomous cars test drive on open streets, one programmer has found a more accessible proving ground to teach AI how to.. engadget Also reported by •TUAW
Conrad Hilton has been ordered to undergo psychiatric evaluation following a court appearance [Splash News] The 23-year-old appeared before a court in Los Angeles on May 10 facing charges of grand.. OK!
Most pot smokers would agree: weed and video games go together like peanut butter and jelly (and banana slices, and an ice cold glass of milk, and M&Ms, and maybe some Funyons, too).
You can.. Mashable
While rifling through the booklet of a used version of Grand Theft Auto V he just purchased from GameStop, an 11-year-old boy found a baggie containing six grams of meth.
Florida mother Kayla.. Mashable


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CTV News Channel
A fire that spread through a grassy area of Southwest Florida International Airport has destroyed thousands of rental cars, fire department officials said.
Going for a drive without stepping out of the car may seem like a fun idea amid the COVID-19 pandemic, but it goes against the oft-repeated advice to only leave home when absolutely necessary.
A local taxi company is opening its doors during the COVID-19 pandemic to help health-care workers with free rides to and from hospitals.
William Byron led the most laps in NASCAR's first two virtual races and had nothing to show for his gaming skills. The third time out, he got the win.
Billionaire Bernie Ecclestone, 89, and wife Fabiana Flosi, 44, are expecting a baby.
DesRosiers Automotive Consultants Inc. says auto sales plunged 48 per cent in March from last year because of the COVID-19 pandemic.
Toyota Motor Co. and Chinese electric automaker BYD Co. announced a partnership Thursday to develop battery-powered vehicles, adding to a flurry of industry tie-ups to share soaring development costs.
FULL SHOW: Boris Johnson • What ICU move means • Medical supply 'wild west' • COVID-19 in the U.S. • Canada Emergency Relief Benefit • Rise in domestic abuse • Canada's food supply • Humboldt Strong • 'Stay the blazes home'


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Custom harvesters and commercial hay growers now can capture the speed and efficiency of big-bale hay production while making smaller bales for clients who want them.
Krone is introducing a baler that puts up to six small bales within a tied big bale. The multibale package is easy to handle and haul, and can easily be split into smaller bales, says Jody McRee, the company's marketing manager in Memphis, TN.
The MultiBale feature is an option on Krone's 1270 Big Pack baler. It makes 2.3 × 4' bales up to 9' long, or can be programmed in the tractor cab to make two, three, four, five or six smaller bales. Those bales are 4' long and vary in width from 1.5' to 4.4', depending on the number in each big bale.
The baler has six knotters that tie big bales and the smaller ones within them. Single big bales get six twines, small bales get two, and packages of small bales are bound with four.
Single big bales and small-bale packages are tied around the ends in the traditional way. But small bales are formed crosswise in the bale chamber, so their twines run in the opposite direction.
McRee sees the baler appealing to harvesters who make straw bales for the landscape, roadside mulch and dairy markets. Two- or three-bale hay packages also should be attractive to dairies that currently split big bales before dropping them into mixers.
The horse industry is potentially the biggest market. But the weight of the small bales might be a problem for horse owners who buy a few bales at a time and handle them by hand. When made with timothy or alfalfa, the smallest bales — six per package — weigh about 110-115 lbs.
“It's not your traditional small bale,” says McRee.
He says Krone is looking at possible ways to make lighter bales with the MultiBale feature.
The small bales' unusual twine placement is another issue. Because the twines run across the bales instead of around the ends, the bales won't hold together if handled a lot. So they'll need to be kept in packages until they've reached their final destination.
“If you're going to throw these things around a bunch, the integrity of that package is not going to be as good as a traditional small square bale,” says McRee.
The 1270 MultiBale baler was introduced last year in Germany, where Krone is headquartered. Very limited numbers will be sold in the U.S. in 2005, with full-scale marketing expected to start next year. It lists for $96,000.
For more information, contact McRee at 901-842-6011, ext. 33, or firstname.lastname@example.org.


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SHERMAN OAKS (CBS) — Guilty pleasure? Or just desserts? Experts say the tough economy is prompting shoppers to gift themselves this holiday season.
Many shoppers are ready for a little reward after a tough couple of years.
Andrea Fox is one shopper who feels no guilt about spoiling herself this season.
“You have to treat yourself,” says Fox. “You have to keep yourself happy, otherwise you can’t keep everybody else happy.”
And she’s not the only one. The National Retail Federation reveals six out of ten shoppers plan to capitalize on holiday sales and discounts this year to purchase their own gifts.
The federation suggests that self-gifting, which had all but disappeared during the height of the recession, is finally making a comeback.
Consumers are expected to spend an average of $130 on themselves to be sure they get what they want.
“It’s not like it used to be,” says Julia Devr, owner of The Closet boutique at the Fashion Square Mall in Sherman Oaks.
Devr says her customers began self-gifting on Black Friday, and they make no qualms about their desire to splurge on themselves.
“They buy boots,” says Devr. “They buy bags, accessories, stuff to go out.”
Some experts say the most satisfying gifts are the ones you ask for, and recipients who say they want to be surprised often find themselves the most disappointed.
But some warn shoppers to be careful to avoid budget-busting when self-gifting.
Some ways to stay on budget?
- Do your homework: Find out who has the best deals by researching online before you hit the stores.
- Use the “two-fer” logic: Shop sales that are buy one, get one. Give one as a gift and keep the other for yourself.
- Be patient and practical: Don’t rush to buy yourself something you don’t need or won’t use.


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Cardiff Blues super sale continues with daily deliveries restarted
First Team News | 17th April 2020
Cardiff Blues retail orders will now be dispatched on a daily basis, with recently purchased items all processed over the last few days.
Cardiff Blues staff have been working tirelessly to ensure orders are hitting your doorsteps as soon as possible, with more than 450 orders dispatched this week.
Our super sale, which sees everything reduced to £25 or under, is still live for the time, so make sure you grab yourself a bargain before time runs out! Orders will continue to be dispatched on a daily basis on working days.


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Silver Fern Farms sale to be completed ahead of schedule
The controversial deal which will see meat processor Silver Fern Farms sell a 50% controlling stake to China's Shanghai Maling for $267 million in cash is to completed before the end of the year.
The transaction, which was approved by farmer shareholders at two separate meetings, was due to proceed by January 4, 2017.
Silver Fern Farms says it will now complete the deal before mid-December. Silver Fern Farms chair Rob Hewett says there is little merit in "simply waiting".
"Both boards are keen to get on with the partnership and deliver on the benefits already identified. The final date for completion will be confirmed shortly," he says.
Silver Fern Farms is New Zealand's biggest meat company and political opposition to the sale was led by the New Zealand First Party. The sale was approved by the government in September, on the recommendation of the Overseas Investment Office.
The deal enables Silver Fern to repay its debt, removing a threat from its banking syndicate to withdraw support.
It also enables it to tap Shanghai Maling's supply chain and parent Bright Food's wholesale and retail networks to distribute into China.
The deal attracted opposition from some of the co-operative's shareholders who forced a second special meeting, although management said it wasn't binding.


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11 February 2019
Google has announced new improvements to Google Maps, at the ongoing Google I/O event. The company announced that Google will soon get new Street View features, as well as AR-based features for visually richer navigation.
The new version of Google Maps which show popular events in your area. It will come with a new “For You” section, which will feature new and trending events in your area. A new “Your Match” feature will deliver personalised recommendations to Google Maps users.
Google Maps is being used by over 1 billion people to navigate and get directions while driving. At the Google I/O conference, the internet giant announced new features that will make maps less reliant on visuals for communication. While going on a route, Maps will now be able to read your text messages, for a more hands-off experience.
Google has also launched a new "share my ETA" feature which estimates your arrival time, and then sends it as a message.
The new updates to Google Maps will be rolled out this summer. The announcement and updates come after Google’s last week's announcement about Google Maps Platform, a streamlined collection of APIs for third-party app developers.


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“Led by Foundation Capital, this Series B round funds our ambitious expansion”, says CEO.
Düsseldorf – May 13, 2014 — auxmoney, Germany’s leading online marketplace for peer-to-peer loans, where private consumers can borrow up to €25,000 directly from private and institutional investors, today announced an investment round of $16 million. Led by Foundation Capital, joined by Partech Ventures and Scott Bommer, alongside existing backers Index Ventures and Union Square Ventures. The proceeds will be used for auxmoney’s ambitious expansion plans, by further enhancing the Düsseldorf-based lending and investment platform and expanding the company’s 60-strong team.
auxmoney CEO and co-founder Raffael Johnen said the investment marked a tipping-point for peer-to-peer lending in Germany, with the market set to go mainstream. “We are about to witness a major shift in consumer behaviour towards peer-to-peer loans. As clear market leader in Germany, auxmoney is right at the forefront of this development,” he said. “With our new partners on board, we are ready to turn crowdlending into an integral and mainstream element of Germany’s consumer finance landscape.”
Founded by Raffael Johnen, Philipp Kriependorf and Philip Kamp in 2007, auxmoney is a platform which enables private borrowers to secure personal loans funded by private and institutional investors. By creating a transparent marketplace, where investors and borrowers can interact directly with each other, auxmoney eliminates the high cost and complexity of traditional bank lending. It can offer more attractive rates to borrowers by using its sophisticated proprietary scoring system, which combines in-depth consumer scoring knowledge with the latest online social and behavioural data.
The company has so far facilitated almost 20,000 loans worth $140 million to private borrowers, over 50% of which were issued in the last 12 months. auxmoney’s growth is fuelled by investors seeking attractive risk-adjusted and predictable returns on their capital, as well as borrowers looking for better rates or alternatives to traditional bank loans.
“auxmoney is perfectly positioned to capture a significant share of the German banking and investment market over the next few years,” said Charles Moldow, General Partner at Foundation Capital. “The auxmoney model works and the team proved, in a challenging environment, the capability to deliver tremendous value to both borrowers and investors.”
“We have followed the dynamic development of auxmoney closely for a while and believe auxmoney is one of the very few companies ready to transform the structure of the European consumer lending market,” said Gabriel Matuschka, Principal at Partech Ventures.
John Buttrick, Partner at Union Square Ventures, commented: “We are excited to participate in auxmoney’s Series B round and help accelerate the company´s growth. As an investor in world leader Lending Club and similar companies, we have extensive marketplace experience and believe auxmoney is well placed to be the preeminent online marketplace for lending in Germany and beyond.”
Raffael Johnen, co-founder and CEO of auxmoney added:
“We are very excited to welcome Foundation Capital, Partech Ventures and Scott Bommer, three highly experienced partners, on board. This financing represents a natural next step in auxmoney’s accelerating growth. Our strong financial backing puts us in an ideal position to further capitalise on the enormous demand for crowdlending in Germany. Being clear market leader in Germany, with a proven track record of compelling loan performance on our platform, puts us in a unique position to service a large and partly under-serviced segment of our population. We further welcome the fact that several banks have approached us to co-operate with us. Combining their low cost of capital and reach to customers with our low process cost and underwriting expertise will be an integral part of our growth trajectory.”
auxmoney is an online marketplace that connects credit-worthy borrowers and savvy investors so that both can benefit financially. auxmoney eliminates the high cost and complexity of traditional bank lending by offering a transparent marketplace where its users can directly invest in and borrow from each other. With almost 20,000 financed loans, www.auxmoney.com is Germany’s leading online platform for loans from private investors to private borrowers. To date, more than 40,000 investors have invested about $140 million in private loans on auxmoney’s platform to achieve above-average returns compared to other interest-bearing products.
About Foundation Capital
Foundation Capital is dedicated to the proposition that one entrepreneur’s idea, with the right support, can become a business that changes the world. Foundation Capital has helped companies like Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. Foundation Capital is currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital’s nineteen IPOs include Control4, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks.
Foundation Capital, based in Silicon Valley, is a leading investor in financial technology companies with a specific focus on the global P2P arena. Earlier investments in P2P include Lending Club (the world’s largest marketplace lender), as well as OnDeck and LendingHome. The firm recently released its manifesto “A trillion dollar market by the people for the people” which details the large opportunity in front of p2p marketplaces and the lenders participating
About Index Ventures
Index Ventures is a leading venture capital firm investing in technology and life science companies. From offices in Geneva, London and San Francisco, Index is dedicated to discovering and supporting the best entrepreneurial teams wherever they are looking to build market-defining, global businesses. Since its inception in 1996, Index Ventures has backed visionary entrepreneurs who have taken on incumbents and built seminal companies including MySQL, Virata, Skype, Last.fm and Betfair. Its portfolio currently consists of more than 120 innovative companies based in 20 countries and 39 cities including Aegerion, asos, Climate Corp, Criteo, Dropbox, Etsy, Genmab, Just Eat, King, Hortonworks, MySQL, NumberFour, Pure Storage, Skype, SoundCloud, Sonos and Supercell — among many others.
About Union Square Ventures
Union Square Ventures (USV) is one of the world’s leading venture capital firms investing in internet and mobile internet businesses. Headquartered in New York City, USV backs passionate, experienced entrepreneurs focused on creating highly scalable services and significant value propositions for their end users. USV has been directly involved in the development of more than 40 companies, including Twitter, Lending Club, Tumblr, Foursquare, Kickstarter, Hailo and Zynga.
About Partech Ventures
Partech Ventures is an investor specialized in high-growth-potential internet and information technology companies. The Partech Ventures team benefits from a long-standing track record in the American and European Venture Capital markets. The team has a strong experience in the international development of companies. This investment strategy has been successfully applied for over 30 years and a large number of portfolio companies have successfully executed their IPO or have been acquired by strategic players, including: Brands4Friends (EBAY), Business Objects (BOBJ), DailyMotion (ORANGE), Five9 (FIVN), Invensense (INVN), Qype (YELP). For more information, please visit www.partechventures.com.
About Scott Bommer
Scott Bommer is the Founder and CEO of SAB Capital Management, L.P. (“SAB”), a New York-based investment firm managing $1.3 billion of assets in several long-term, value-oriented investment funds primarily focused on public market securities. Founded in 1998, SAB employs a special situations investment approach, pursuing investments which are structurally complex, undergoing transformational company or industry change. SAB invests across a variety of industry sectors including Financials, Industrials, Retail and Consumer, and Technology, Media and Telecommunications. Both SAB and Mr. Bommer have significant P2P investment experience including existing investments in Lending Club, Lending Home and OnDeck Financial.


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Latest Fresh Market Openings Exclude High Point
The Fresh Market Inc. detailed several new grocery store locations in a quarterly release Thursday, but the sites dont include one in High Point.
Local supporters of the City Project and Uptowne redevelopment campaign have spent more than a year trying to recruit the Greensboro-based specialty grocery company back to High Point. Fresh Market had a location north of downtown High Point from the early 1980s through early 1990s.
In its first-quarter release, Fresh Market mentions stores that opened or are planned this year in Peachtree City, Ga., Aiken, S.C., Chestnut Hill, Pa., Crystal Lake, Ill., and Stuart, Fla. The company reports that it has 101 stores totaling about 2.1 million square feet and anticipates opening 12 to 14 new stores during its 2011 fiscal year.
A spokeswoman for Fresh Market on Thursday reiterated the companys position that it declines to comment at this time on a possible High Point location. City Project Chairman Aaron Clinard said he and his associates remain in touch with Fresh Market officials about a High Point location.
Fresh Market also projects two store relocations and two store remodelings during its current fiscal year. The company estimates about $85 million to $90 million in capital expenditures during the 2011 fiscal year.
This article appeared in Friday's edition of the High Point Enterprise.


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Shares of Apple and semiconductor stocks took a notable hit after US President Donald Trump said in a tweet last Friday that American companies should “immediately start looking for an alternative” to their operations in China, a comment that should concern many Silicons Valley companies that manufacture their consumer electronics products in China.
Shares of Apple ended the day down 4.6 percent, Qualcomm slid 4.7 percent, Nvidia lost 5.2 percent, Advanced Micro Devices dropped 7.4 percent, Micron fell roughly four percent and Broadcom slid 5.3 percent, CNBC reported.
The comment affected the tech-heavy Nasdaq, which was down 2.6 percent. Meanwhile, the Dow Jones Industrial Average slid 2. percent and the S&P 500 fell 2.5 percent.
The presidential tweet reads as follows:
Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing … your companies HOME and making your products in the USA.
It’s unclear how the US president could “order” US firms where they produce goods.
The escalating trade war between the United States and China could affect Apple’s global competitiveness, CEO Tim Cook told Trump. Starting in a few weeks, the US will impose duties on $300 billion worth of China’s goods. In retaliation, the 1.4 billion people country plans to levy tariffs on $75 billion more of US goods, including cars.
Trump’s tweet storm also accuses China of stealing intellectual property from the US.
Here’s that tweet in its original form, without any edits for clarity:
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.
Trump last week said he likes Tim Cook, calling the Apple CEO “a great executive” because Cook calls him directly whenever there’s a problem, which the US president said isn’t true for other Silicon Valley technology CEOs.
“That’s why he’s a great executive,” Trump told reporters last Wednesday from outside the White House. “Because he calls me and others don’t. Others go out and hire very expensive consultants. Tim Cook calls Donald Trump directly,” as detailed by CNBC.


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The Ghana Hotels Association (GHA), on Wednesday, appealed to the government to put in place specific industry-support measures to enable the Association to revive collapsing hotels from the negative effects of the COVID-19 pandemic.
The appeal followed the drastic decline in the operations of hotels, especially occupancy rates since the nation recorded her first cases of the pandemic in March.
Dr. Edward Ackah-Nyamike, the President of the Association at a news conference organised by the Association on the topic, “Six Months into COVID-19 Pandemic: Overview of Government’s Support to the Hotel Sector”, said the hotel industry was one of the worst hit businesses in the wake of the respiratory disease.
He said the measures put in place by the government to contain the pandemic, such as the closure of borders including the Kotoka International Airport, ban on social gatherings like conferences, events and restaurants, had a serious impact on economic activities with which hotels were no exception.
The hotel industry also faced a number of impacts such as cancellation of all bookings for individuals, groups and conferences, complete shutdown of some hotels accompanied with challenges of maintenance of facilities, he said, adding that, at least 64 per cent of hotels closed down at one point or the other from March 2020 till date.
Other impacts were a drastic reduction in occupancy rates to below 20 per cent for hotels that remained open, and temporary and permanent lay-off of some hotel workers, which saw more than half of hotels in Ghana permanently laying off workers running into thousands, conservatively over 40,000.
Challenges with payment of salaries, pension, contracted loans, taxes, credit facilities to vendors and suppliers, utility bills especially for water and electricity and challenges with payment of rents for hotels who operate on rented premises were other effects of COVID-19, Dr Ackah-Nyamike said.
Even though the hotel industry met with the President over his announcement to give free water to all Ghanaians, with which the business community was later exempted according to an explanation from Mrs Cecillia Abena Dapaah, the Minister of Sanitation and Water Resources and the Ghana Water Company, Dr. Ackah-Nyamike said, the industry for the six-month period, still received their water and electricity bills to make payments.
The GHA President said it was sad to note that four months after the online application for the one billion Cedi soft loan allotted by the government to be disbursed by the National Board for Small Scale Industries (NBSSI) as part of measures to reduce the effect of COVID-19 on businesses, only two per cent of members of the GHA had benefitted from the disbursement.
The GHA, appealed to government to direct the refund of water bills paid by hotels for the months of April to September 2020, introduce the 50 per cent discount to hotels for the last quarter of the year, and impress upon the NBSSI to speed up the loan disbursement process.
It also called on government to impress upon the Ministry of Tourism, Arts and Culture to speed up the Ghana Tourism Development Project Grant, issue further and better particulars on the GH¢3 billion grant facility and how up-market hotels could access it.
The GHA also appealed to government to suspend the payment of VAT, National Health Insurance Levy and GETFund by hotels for the last quarter of the year or put all hospitality enterprises on the three per cent VAT Rate, for Output Tax.
It also called for an extension to December 31, 2020, the remission of penalties on principal debts to tax payers who redeemed their outstanding debts owing the Ghana Revenue Authority.
The Association also implored the government to direct all Metropolitan, Municipal and District Assemblies and hotel regulatory bodies to extend the deadline for payment of regulatory and license fees, including property rates to December 31, 2020.


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The trend for the enterprise-built app store as a one-stop shop for deploying and managing business-approved apps across mobile and desktop has exploded in recent years – . And industry analysts predict this popularity to continue as app usage continues on its upward trend and enterprises look to stem the inevitable ‘shadow IT’ that results from it – a quarter of all enterprises worldwide will have one by 2017 according to Gartner. Rather than clamping down on the adoption of apps by employees, forward-thinking CIOs are stepping up to enable apps in a way that’s centrally governed.
Mobile-first, and perhaps soon wearable-first enterprise app stores are being rapidly embraced as the ideal solution to address the balance between access and control in a simpler, more manageable way, while enabling apps at a faster speed.
Nigel Sedden, senior director Northern Europe and ANZ at software firm Landesk thinks that 2015 is the year CIOs need to respond to the app revolution if they haven’t already.
‘We are in the thick of the consumerisation of IT, with users expecting to be working from the devices that empower them to do their jobs more efficiently,’ he says. ‘They want the applications they use on a day-to-day basis to be more accessible. By evolving their own IT and creating an enterprise app store, CIOs can offer workers functionality, freedom and usability at the touch of a button, which in turn will improve productivity and the user experience.’
The shift away from the public app store allows users to access both consumer and business apps through one portal. For instance, they might be able to download Facebook, Citrix’s ‘GoToMeeting’ and a custom corporate app from the same place, meaning technology is simplified and gives the user more autonomy on how they work- ultimately driving operational agility for the enterprise.
Vincent Smyth, SVP EMEA of Flexera Software, also points out the challenges around licensing that CIOs are solving through the enterprise app store. IT teams have the potential to reduce spending on new software licenses by engaging with users and automatically reclaiming unused software, and they have they have the ability to maintain proactive license compliance to reduce compliance risk, improve service delivery for IT as Service, and cut out IT involvement in obtaining and installing apps.
A numbers game
A major driver behind the rise of the enterprise app store is the ability to commoditise analytics within a business, allowing data scientists to do the heavy lifting of performing the analysis but then ‘operationalise’ the insights via ‘info apps’ for frontline employees.
This helps them make faster, more accurate decisions based on the data they have to hand in the apps.
‘In this way, analytics apps provide the right information, at the right time,’ says Dr Rado Kotorov, CIO at BI software company Information Builders. ‘This dual approach works well from a decision perspective because analysis uncovers opportunities, but only ‘operationalisation’ drives the desired behaviour change to achieve new levels of performance. The analysis is about uncovering root causes, while ‘info apps’ are for answering business questions and changing business behaviour. Apps are the perfect vehicle to make the fruits of analytics pervasively used in decision making.’
Building software for deployment to an app store forces companies to boil down their analytics requirement to its core purpose- to answer questions about the business.
‘Analytics is so core to effective decision-making, that companies should focus on creating an intuitive analytics dashboard that anyone can use with minimal training,’ says Salesforce’s Spearing. ‘We’re witnessing a major drive towards search-based, self-service mobile apps that empower everyone in the business with the data they need to make better decisions in seconds.’
Dashboards are the de facto industry standard for showing Time to Value (TTV) and Return on Investment (ROI) of a new software solution for any organisation looking for analysis and justification for new purchases. As Smyth points out, they’re flexible, can be accessed anywhere, and provide a high level of interaction between employees and senior management.
‘All of these aspects provide better return on investment because people are more likely to adopt new technology that provides a focused dashboard as part of the out of the box experience.’
As he advises, better analytics helps customers support cloud migration and get it right the first time by understanding application dependencies and usage of legacy applications.
‘With analytics and insight customers will better plan which apps and users can move to the cloud, increasing user productivity and lowering app provisioning costs.’
But although the plus points of deploying enterprise app stores are many, for most organisations their management and deployment are still in their infancy.
‘There is currently a disconnect in how applications are used by employees and those that are deployed, secured and managed by IT departments,’ points out Nick McQuire, VP enterprise of analyst firm CCS Insight.
‘Often, employees are ahead of IT teams in using applications and as such organisations are only just coming to terms with the right strategy for app stores and app deployments overall now.’
What constitutes the ‘right strategy’ is up for debate, but IT teams face a number of universal challenges- the biggest of which is getting the right apps into the hands of end users across the enterprise.
IT teams should first establish an employee workable application policy and work on developing the skills of the IT department to better work with employees to understand the applications which are relevant to how they work.
‘Not only does an organisation need the skills to develop and roll out these apps but IT will also need change management skills as the changes within IT are large,’ says McQuire. ‘With consumer applications setting a very high bar in terms of design and user experience, organisations have to meet these expectations with internal products.’
This hinges on building a seamless experience into the store. It goes without saying that anyone building an enterprise app store needs to make the user experience as simple and intuitive as employees are used to, with everything in a single place and accessible in as few clicks as possible.
‘This means modelling it on a consumer app store,’ says Adam Spearing, EMEA VP at Salesforce. ‘No matter how useful the app, if employees have to go through a multi-step process involving multiple passwords and logging tickets with the IT department to download, user uptake will be low and the business won’t get much out of the investment.’
Another big hurdle for many is keeping up with changing system infrastructure as enterprises upgrade, migrate, consolidate, and expand the use of infrastructure systems. As Smyth argues, if you build a custom app store, the resources required for ongoing maintenance and updates will be a challenge.
‘In addition, the licensing requirements for today’s application producers are becoming increasingly complex and maintaining license compliance at the time of an employee’s requests is a manual process that usually involves a license manager or other individual with the knowledge required,’ he warns.
In-house vs. outsourcing
At present, most enterprise app stores are built through a combination of in-house and outsourced development, but looking ahead, the larger base of organisations are moving towards outsourcing due to a lack of skills and the organisation change required to rapidly get apps out into an enterprise.
In certain sectors, however, this development is remaining in-house as it is a source of competitive advantage, as CCS Insight’s Nick McQuire explains.
‘Both the retail and financial services sectors have strong customer experience teams fluent in app development,’ says McQuire. ‘As such these sectors have the skills internally to build and develop their own apps.’
The analyst firm predicts that a general trend in the years to come will be companies shunning custom app development altogether to buy more off the shelf apps – something which may lead to a slowdown of both in house app development as well as outsourcing.
But whether apps are built or bought, the most important aspect of any future app store will be its ability to function across a whole enterprise, including the increasingly wide array of devices and operating systems.
‘Enterprise app stores will become a holistic product at the point where apps are developed and designed to run across different screens and architectures,’ says McQuire. ’Microsoft is looking to achieve this with Windows 10 Universal Apps running across tablets, convertibles, PCs and smartphones. Once this architectural shift occurs the applications will feel less fragmented.’
Enterprise app stores are evolving to become universal, used for desktop, virtual and mobile apps, and this universal concept is likely to be pushed across the enterprise landscape to include all aspects of software needs, whether in the datacentre, cloud or even personal devices such as watches or glasses. The wearable revolution is going to take enterprise app stores to the next level- Forrester recently reported that 68% of executives consider wearables a priority, with apps like Salesforce for Apple Watch being a major catalyst.
‘As mobile-first enterprises continue to flourish, the technology and applications used by businesses and consumers will look and feel less different than ever, as companies move on from legacy technology and build apps for mobile and wearable devices, drawing inspiration from consumer technology,’ says Spearing. ‘Instead of running your business from your phone, you’ll be able to run it from your wrist. But to reap the full benefits of this, you'll rely on your enterprise app store to provide programmes you need on your wearable.’
Zahid Jiwa, VP of Sales UK and Ireland for enterprise software company Outsystems believes we have only just started to scratch the surface of enterprise app stores.
‘We’re going to see many more companies deliver very powerful apps and make these available via stores,’ he predicts. ‘For example, the US Federal Government is very much ahead of the curve in developing an enterprise app store that both informs and educates their citizens. Hopefully, we’ll be seeing other public sector organisations following their example, so that both developers and companies can work together collaboratively to foster innovation in a productive, profitable and efficient manner.’


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Pride Mobility has reported impressive pre-sales with mobility dealers since the announcement of its new portable range of mobility scooters.
At the end of this month Pride will officially launch its iGo and Apex Lite across its retailer network which has already been impressed by the products’ technology and unique manufacturing, pre-sales would suggest.
“Since pre-launch the sales and enquires we have achieved from the iGo and Apex Lite have proven to us that the market responds rapidly to new products we bring out. This is certainly the case for the Apex Lite and iGo,” commented Paul Clayton, senior Pride sales manager.
Clayton continued to note the positive feedback from end-users and dealers during Naidex 2017.
“Whilst on the stand at Naidex the amount of interest we had from end users and dealers was a real indication of just how well the Apex Lite and iGo will sit within the market. So many people could not get over how light and versatile both products were,” he said.
Finally, Tim Murphy, senior director of international sales, commented on additional products coming from Pride.
“The iGo and Apex Lite are just the start to what we are going to be bringing out, we have some new patented mobility products, which will rock the industry. I’m really excited about what we have coming through and we will certainly be visiting our dealers around the UK, and demonstrating why Pride is the global market leader in innovative design and mobility.”


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Industry out of Deep Water, but Investments Still Lag
Third quarter data from various areas suggests that the worst is over, and there is finally light at the end of the tunnel for the Hungarian economy, which was heavily impacted by the crisis caused by the COVID-19 pandemic. Consumer consumption and investments, however, are yet to catch up.
The volume of industrial production grew 0.6% in October from the same month in 2019, according to a first release issued by the Central Statistical Office (KSH) at the end of November.
Based on working-day adjusted data, production rose by 2.7%. The growth was 2.8% compared to the previous month according to seasonally- and working-day adjusted data. In September, industrial production shrank by 1% on a year-on-year basis according to working-day adjusted data.
The manufacture of transport equipment, having the largest weight, as well as the manufacture of computer, electronic and optical products increased; at the same time, production volume dropped in the majority of manufacturing subsections, including the manufacture of food products, beverages and tobacco products.
In the first 10 months of the year, production was 8.2% lower than in the same period of the previous year.
Industrial output in October, according to seasonally and working-day adjusted indices, was 2.8% above the level of the previous month, and grew by 66% compared to the nadir of April
The second estimate of Q3 GDP data was also released on December 1, showing that the Hungarian economy did better than expected in Q3, bouncing back 11.4% compared to the previous quarter.
In the first three quarters overall, economic output fell by around 5.5%. Year-on-year, GDP was down 4.6% in Q3. Almost half of this came from the service sector, more than a fifth was due to declining output in the construction sector, while industry was responsible for less than a tenth of the reduction.
Within services, the hospitality sector’s output plunged by 20.9% as the pandemic impacted tourism, and logistics output dropped by 19.9%. Information and Communication Technology output rose by 5.3%.
Analysts say that with a 5.5% contraction in the first three quarters, the outlook for the last quarter of the year is more dubious. They therefore put the annual GDP shrinkage at around 6%; the government expects GDP to fall back by 6.4% for the full year, which now seems rather pessimistic.
Based on current trends, the economy is likely to fall back by 6% this year, and will bounce back to an annual growth of 3.5-4% in 2021, says Dávid Németh of K&H Bank.
Gábor Regős, head analyst at Századvég Research Institute noted that the GDP fall in the third quarter was lower than in the second quarter, so it seems that the economy has finally started to show vital signs. As coronavirus restrictions are still in place, it is likely that this year’s contraction will be around 6%; however, if restrictions persist, the decline might be bigger, he warns.
The most optimistic forecast was given by Péter Virovácz of ING Bank. He projects a recession of 5.8% for the entire year. According to him, the economy might recover by mid-2022, however, this will happen at different pace in different sectors.
As for Q3 industrial production data, analysts said it shows that the industry is out of the water now and its performance might uplift fourth quarter GDP data, which might otherwise be compromised by weak investment and retail figures.
Industrial data was a positive surprise following rather disappointing retail figures, said Virovácz. The good performance of the industry is in accordance with the positive confidence and purchasing manager indices, he said. The good figures are linked to vehicle manufacturing and the electronics industry. According to him, fourth quarter GDP data might be lifted by export figures, which, this time, will be triggered by industrial production.
Gergely Suppan of Takarékbank is even more optimistic, claiming that better-than-expected Q3 industry data show that the crisis is over in this area. Stabilization of the industry might continue in the upcoming months, and it can finally show an increase in the last quarter of the year, thus contributing to Q4 GDP by 1-1,5 percentage points.
But while industrial data give reason for optimism, investment figures are not so comforting. Investment volume in Hungary fell by an annual 12% in the third quarter of 2020, KSH data shows. In a quarter-on-quarter comparison, investment volume fell by a seasonally-adjusted 2.1%. Investment volume fell in most economic sectors except one: it jumped by 98.4% in healthcare due to pandemic-related spending, KSH said.
The decline in investment volume was most apparent at companies with high headcounts, especially at foreign-owned and state-owned companies.
In the first three quarters of the year, investment volume fell by an annual 8.6%, albeit from a high base. Trade investments rose by 6.3% and investments in information technology by 3.4%, while investments in public administration edged up by 2.1%. However, investment volume in the manufacturing sector was down by 18.2%.
This article was first published in the Budapest Business Journal print issue of December 11, 2020.
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The recent news that Morrisons is moving into convenience stores is another clear sign of how important this particular sector is becoming, and how, for brands, it is offering an increasingly powerful arena.
While in-store promotions bring immediacy to a brand's marketing efforts, many companies are missing out by continuing to focus their activity in this area exclusively in the big supermarkets and overlooking the opportunities in convenience.
Although this sector is seen by many to have added complexity, given the many different routes to market, things are changing. Indeed, agencies are acquiring skills to help brands handle logistics and make things straightforward for those looking to exploit opportunities.
The UK convenience market already includes household names such as Londis, Costcutter and Spar, as well as a range of independently owned shops. However, the arrival of Morrisons on the scene alongside existing big-name players such as The Co-op Group, Tesco, Sainsbury's and Waitrose will further drive awareness in the sector.
Not only is it growing in worth, it is also growing in credibility. New arrivals are serving to underline the strength of the proposition across convenience, demonstrating to brands that store standards in quality, range and value-for-money are all improving dramatically. And with the Co-op alone pulling in more than 2.4 million people every week, the sector will only continue to grow as a marketing channel over the coming three to five years. In fact, brands such as Red Bull are already taking the market very seriously to great effect.
With almost 50,000 stores across the country, and currently worth a staggering £29bn, the convenience and independent sector continues to rally in a tough economic climate. Indeed, the sector is growing up 6.1% in 2009 and accounting for 20% of the total food and grocery market, according to IGD.
As the Morrisons move will further highlight, convenience outlets offer more and better opportunities than ever. Those brands and agencies that unlock the promotional potential will surely benefit.
David Norbury is chief executive of REL Field Marketing.


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A long-time east side market is under new ownership, keeping a well-known local business alive.
Trawka’s Market located at 712 Payne Ave. is now under new ownership.
The previous owner ran the market for nearly 40 years. The new owners, Adrian and Nadia Pop, came to Erie from Romania in the 90s. They said while they have some new items, the market carries the same products and delivers the same quality as previous years.
“In a way, we’re actually keeping our traditions. This is what we wanted to do. We grew up in Europe, in Romania, so this is what we did all the time,” said Adrian Pop, co-owner of Trawka’s Market.
“This was basically our dream to do. Since we met, we wanted to open a restaurant and this is very close to that. People can come here and get their lunches, their dinners and also do a little bit of grocery shopping,” said Nadia Pop, co-owner of Trawka’s Market.
The new owners said they are grateful to have such a dedicated staff.


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Retail giant Debenhams is set to shut after last-ditch rescue attempts to save the 242-year-old chain failed.
An estimated 12,000 jobs will be lost nationwide with all stores to be closed soon, including one on Long Row, Nottingham.
The company has been in administration since April, but final bidder JD Sports have withdrawn their offer after a deal failed to be agreed.
One Twitter user said the closure was “very sad” and that it had been a “fixture of the Market Square for years and years”.
Some users expressed sympathy with the workers due to lose their jobs and one former student said that the store was “my second home when I was studying at Uni. That seemingly insignificant part-time role which financially pushed me through my early 20s.”
This closure was met with outrage in some quarters with Shadow Secretary of State for Business, Ed Miliband declaring it a “devastating day for the high street”.
A devastating day for the high street with 25,000 jobs at Arcadia and Debenhams at risk right before Christmas. The Government must outline how it will support those affected, and press Philip Green to do the right thing for his employees' pensions.
— Ed Miliband (@Ed_Miliband) December 1, 2020
The closure was also met with sadness by Nottingham South MP Lilian Greenwood, who said it was “sad news”.
Terribly sad news for Debenhams staff and will leave another big vacant space in our city centre. https://t.co/Ks9XV4eoRv
— Lilian Greenwood (@LilianGreenwood) December 1, 2020
Debenhams has been an established retailer for 242 years on UK high-streets.