Wendy’s partners with PAR Technology to boost customer engagement through AI-powered loyalty program

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March 29, 2024

Restaurant chain Wendy’s is leveraging PAR Technology’s AI-based platform to enhance its customer engagement.

The fast-food hamburger chain plans to implement PAR’s loyalty and offer solution, PAR Punchh, across its 6,500 locations throughout the US and Canada.

By utilizing the AI-driven Punchh technology and PAR Technology’s enterprise support, Wendy’s plans to enrich its loyalty program with gamified experiences.

The platform will also assist Wendy’s in providing tailored discounts and exclusive promotions based on specific consumer preferences.

Continue Exploring: Wendy’s reports strong Q4 2023 with nearly 14% rise in net income, reaching $46.9 Million

The technology company stated that the open architecture of PAR Punchh will facilitate seamless integration with Wendy’s existing app and online ordering system.

PAR Technology CEO Savneet Singh commented, “Loyalty is not just a feature; it’s an outcome that drives greater customer lifetime value. We believe that combining our technology with our experienced team of loyalty strategists not only provides brands with the tools to foster guest loyalty but also positions us alongside them to achieve tangible results.”

In January 2024, American restaurant company Bob Evans chose PAR Technology’s PAR Punchh to improve its customer interaction approach.

In December 2023, food delivery platform DoorDash collaborated with ParTech to establish a seamless ordering experience.

Continue Exploring: Wendy’s appoints former PepsiCo executive Kirk Tanner as new CEO

DoorDash will integrate with PAR’s Brink point-of-sale software and MENU Link, a marketplace order management solution within the PAR MENU ecosystem, facilitating omnichannel ordering.

The collaboration will further expand PAR’s ecosystem with over 500 integrations and improve digital ordering and delivery operations in the United States.

Continue Exploring: Wendy’s unveils exciting ‘Flavour Fresh’ range for Indian palates

Ocado Retail records 10.6% revenue growth to $815.5m in Q1 FY24

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March 29, 2024

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Ocado Retail, a collaboration between the Ocado Group and Marks & Spencer, reported a 10.6% rise in revenue for the first quarter of fiscal 2024 (Q1 FY24), climbing to £645.3m ($815.5m) from £583.7m in Q1 FY23.

The growth is credited to a substantial surge in the volume of items sold and a rise in average weekly orders.

The company’s total products sold in the 13 weeks leading up to March 3, 2024, increased by 8.1% year over year to 242.1 million from 223.9 million in the same quarter the previous year.

The average weekly orders also rose by 8.4%, going from 382,000 to 414,000, pointing to strong growth in active customers. By the end of the quarter, customer numbers grew by 6.4% to reach 1.02 million.

Continue Exploring: Instacart and AWG strengthen partnership to offer same-day delivery to thousands of independent grocery stores

Ocado Retail saw a modest increase of 2.1% in its average basket value, rising from £122.94 in Q1 FY23 to £125.47 in Q1 FY24.

The average basket size stayed consistent year-on-year at 45 items.

Ocado Retail CEO Hannah Gibson stated, “We’ve had a solid beginning to the year, continuing the momentum we set in 2023 with the advancement of our Perfect Execution programme.

“We are improving the products and services we provide to our clients, emphasising unmatched variety, unrivalled quality, and continuously good value.

“In the first quarter, we increased our efforts by introducing Makers’ Market and expanding our product line, which included robust growth in our core M&S grocery items. With the help of our unique approach, we were able to highlight amazing small businesses, expand the Ocado own-brand range, raise product and slot availability and cut prices on an extra 1,700 products during our most recent Big Price Drop campaign.

The retailer reaffirmed the guidance given on 29 February 2024, in line with Ocado Group’s FY23 results.

Ocado Retail expects a mid to high single-digit revenue growth and an underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of 2.5%, excluding Hatfield fees of £33m per year.

In March 2024, M&S and Ocado had a dispute over a £190 million ($240 million) final payment linked to Ocado Retail.

Continue Exploring: UK grocery price inflation falls to 4.5%, lowest since February 2022

Supermarket chain Aldi to open 35 new stores across the UK in 2024

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March 29, 2024

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Supermarket chain Aldi is expanding its presence across the UK, with plans to open 35 new stores in 2024.

The retailer’s expansion makes its low prices available to more UK customers, with the opening of its 1,000th UK store in Woking in 2023.

In March 2024, Aldi is set to introduce new stores in Preston and Derby, followed by additional openings in Derbyshire, Buckinghamshire, and Bristol later in the year.

The expansion aligns with the company’s overarching goal of reaching 1,500 stores in the UK. In 2024, it plans to invest £550 million to expand its presence in the UK market.

Continue Exploring: Aldi to expand discount grocery chain across US as high food prices squeeze American budgets

Each of the new stores is expected to generate approximately 40 new job opportunities.

Aldi’s Managing Director for National Real Estate in the UK, Jonathan Neale, said, “Having attracted more fresh consumers than any other supermarket in the last 12 months, we’ve become even more determined in our commitment to expanding our presence throughout the country.”

“We aim to ensure that high-quality food is within reach for everyone, and customers are aware that they consistently receive greater value for their money when shopping at Aldi.”

Aldi, now the fourth-largest supermarket in the UK, is increasing starting pay for store assistants to £12.40 per hour, effective from 1 June 2024.

Store assistants located within the M25 London orbital motorway will be compensated at a rate of £13.65 per hour.

The retailer also maintains its provision of paid breaks, which amounts to £900 annually for the average store colleague.

Aldi recently disclosed plans to increase its footprint in London, focusing on prime areas for new shop openings.

Continue Exploring: Aldi takes on Domino’s with launch of new pizza delivery service in the UK

Malabar Gold & Diamonds debuts in Latur, marking its 24th outlet in Maharashtra

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March 29, 2024

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Malabar Gold & Diamonds, a prestigious name in India’s jewellery retail sector, has launched its newest retail masterpiece in Latur, Maharashtra. Located at Sawe Wadi, M G Road, this spacious 4500 sq. ft. store signifies the brand’s successful debut in Latur, marking its 24th outlet in Maharashtra and the 36th in the Western region. Committed to providing exceptional jewellery shopping experiences, the luxurious store presents a wide range of designs and collections.

The virtual opening of the store, led by M P Ahammed, Chairman of Malabar Group, was attended by distinguished guests, including Shrimati Vaishali Vilasrao Deshmukh, who presided over the ribbon-cutting ceremony.

Sharing his excitement, M P Ahammed remarked, “We are delighted to inaugurate our inaugural store in Latur. This signifies the start of a promising bond with the residents of Latur and reaffirms our dedication to Maharashtra.”

Continue Exploring: Malabar Gold & Diamonds to expand with ten new stores, aiming for 350 by March

The newly opened store showcases expansive interiors and a captivating atmosphere, welcoming customers to explore finely crafted designs in gold, diamond, polki, gemstones, platinum, and beyond. With carefully curated collections catering to various tastes and preferences, every customer is sure to discover the ideal piece. Highlighting exceptional creations from exclusive brands such as Mine Diamond Jewellery, Era Uncut Diamond Jewellery, and Ethnix Handcrafted Jewellery, the store aspires to be the premier destination for distinctive designs.

Malabar Gold & Diamonds is well-known for its dedication to transparency and equitable pricing. Keeping true to its Fair Price Promise, the brand ensures that customers can purchase their chosen jewellery at fair making charges. Furthermore, the brand’s One India One Gold Rate initiative ensures consistent gold pricing across all its stores throughout the country.

Continuing to reinforce its commitment to customers, Malabar Gold & Diamonds provides a variety of assurances through its 10 pledges. These encompass transparent pricing, lifetime free maintenance, guaranteed value for old gold jewellery, adherence to global standards, buyback guarantee, complimentary jewellery insurance, responsible sourcing, and equitable labor practices.

The grand launch of Malabar Gold & Diamonds’ first-ever store in Latur represents more than just a new retail location; it symbolizes a commitment to exceptional quality, trust, and unmatched service for the residents of Latur and beyond.

Continue Exploring: Malabar Gold, Titan, and 4 other Indian brands secure spots in global top 100 luxury goods makers list

PepsiCo to invest $400m in two sustainable plants in Vietnam

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March 29, 2024

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PepsiCo plans to invest $400 million in Vietnam to construct two new plants powered by renewable energy, according to Reuters.

The announcement came during a three-day working visit to Vietnam by more than 60 US companies, including PepsiCo and the joint venture of Suntory and PepsiCo, Suntory PepsiCo Vietnam Beverage.

Continue Exploring: PepsiCo to replace Coca-Cola as exclusive beverage provider for Subway in the US

One beverage production facility, estimated to cost over $300 million, will be established in Vietnam’s southern Long An province. Additionally, a food processing facility with an investment of $90 million will be located in the northern Ha Nam province of the country.

According to Reuters, while the Vietnamese government’s report did not provide specific timelines for the commissioning of the two factories, PepsiCo had previously announced its intention to begin operations at the Ha Nam facility in the third quarter of 2025, following the receipt of an investment certificate late last year.

Yousta unveils second Pune outlet with Bollywood star Shraddha Kapoor adding glamour to the grand opening

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March 29, 2024

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Yousta, the vibrant fashion brand catering to the youth under Reliance Retail, is thrilled to announce the inauguration of its second store in Pune, located at Phoenix Marketcity. The grand opening was graced by Bollywood star Shraddha Kapoor, adding a touch of glamour and excitement to the occasion.

Known for her impeccable style, Shraddha Kapoor explored the trendy offerings at Yousta, expressing admiration for the diverse range of fashionable ensembles. She praised Yousta’s innovative use of technology, particularly highlighting the seamless shopping experience provided by self-checkout booths and QR code accessibility.

This latest expansion represents Yousta’s second endeavor in Pune, extending its reach beyond AeroMall. With a proven track record of success in multiple Indian cities, Yousta aims to cater to Pune’s fashion enthusiasts with its dynamic and budget-friendly collections, captivating young consumers since its inception in 2023.

Continue Exploring: Reliance Retail’s Yousta expands its fashion footprint with second store opening in Kolkata

Yousta’s dedication to affordability is clear through its broad selection of stylish clothing, priced below INR 499, with none going over INR 999. The Phoenix Marketcity store features a diverse range of fashionable outfits, unisex merchandise, and weekly fashion releases from the “Starring Now” collection.

Embracing modern retail practices, the Yousta store ensures a contemporary and tech-savvy shopping experience, offering QR codes for seamless information access, self-checkout counters, and charging stations for electronic devices.

Beyond fashion, Yousta is committed to community engagement, collaborating with non-profit organizations to support clothing donations, contribute to community programs, and advocate for sustainability.

Continue Exploring: Reliance Retail leverages B2B potential to expand apparel reach

Indian rice exporters raise prices in response to hike in export duty

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March 29, 2024

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This week saw a rise in rice export prices for India, the leading exporter, as traders adjusted to increased duties on rice shipments. Meanwhile, demand in Thailand remained subdued.

India’s 5% broken parboiled variety fetched a price range of $550-$558 per ton this week, indicating a rise from the previous week’s $543-$550. Earlier this month, rates soared to a record high of $560.

A New Delhi-based dealer affiliated with a global trade house stated, “We’ve had to increase prices due to the government’s shift towards considering the total transaction value rather than the Free on Board (FOB) value for calculating the 20% export duty. Consequently, our export prices have been driven up.”

Continue Exploring: India prohibits non-basmati white rice exports amidst supply concerns

In August 2023, New Delhi implemented a 20% export duty on parboiled rice shipments as a measure to regulate domestic rice prices.

Four exporters informed that the Indian customs department has issued notices demanding duty differentials on rice exported over the past 18 months. This uncommon tax demand has the potential to severely impact rice shipments from India.

Continue Exploring: Rice exporters in India face huge tax demand, casting shadow over exports

The price of Thailand’s 5% broken rice was listed at $585-$590 per ton this week, marking a decrease from the previous week’s $598.

According to a trader based in Bangkok, prices eased due to a decline in the value of the baht and subdued demand. However, they noted that Indonesian buyers provided support to the prices.

Another trader mentioned that Vietnamese rice was more affordable and highlighted that the local supply was nearing its seasonal conclusion, despite some remaining paddy.

The price for Vietnam’s 5% broken rice remained steady at $590-$595 per metric ton, the same as last week.

A trader based in Ho Chi Minh City mentioned that exporters have reduced their purchases from farmers following a U.S. forecast earlier this month suggesting that the Philippines could decrease its imports this year due to increased domestic supplies.

Vietnam’s primary market for rice exports is the Philippines.

Despite favorable yields and reserves, rice prices in Bangladesh remained high.

Authorities indicated that Bangladesh might permit private traders to import up to 200,000 tonnes of rice to alleviate the domestic prices of the essential grain.

Continue Exploring: Govt rolls out ‘Bharat’ rice at INR 29/kg to tackle rising food prices

Govt mandates wheat stock declaration by traders to control prices

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March 29, 2024

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In order to prevent hoarding and speculation by unscrupulous elements, the Central Government announced on Friday that all retail and wholesale wheat traders in the country will be required to declare their stock positions on the official portal beginning April 1.

The directive mandates that the stock position must be updated every Friday until further notice.

The Department of Food and Public Distribution stated that it is closely monitoring the wheat and rice stock positions to regulate prices and guarantee ample availability across the nation.

The directive applies to traders/wholesalers, retailers, large retail chains, and processors in all states and union territories.

Continue Exploring: India regulates wheat stocks to fight rising inflation as elections loom

Each respective legal entity must ensure regular and accurate disclosure of stocks on the portal.

The order specifies that the Wheat Stock Limit for all categories of entities in states and UTs will expire on March 31. Subsequently, these entities are required to disclose their wheat stock on the portal.

Rice stock declarations by all types of entities are already established. Any entity that has not yet registered with the Portal may do so and begin disclosing their wheat and rice stocks every Friday. The order also requires that all legal entities regularly declare their rice and wheat stock on the portal.

Continue Exploring: India slashes wheat stock limits to bolster availability and stabilize prices

Over one billion meals wasted daily while 783 million people face hunger, UN report finds

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March 29, 2024

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In 2022, households wasted over one billion meals a day, while 783 million people struggled with hunger and a third of humanity faced food insecurity, as indicated by the 2024 Food Waste Index Report. This study was jointly authored by the United Nations Environment Programme (UNEP) and WRAP (Waste and Resources Action Programme), a UK-based non-profit organization.

The report, which was released ahead of the International Day of Zero Waste (March 30), stated that in 2022, 1.05 billion tonnes of food waste (including inedible parts) was generated, amounting to 132 kilogrammes per person and nearly one-fifth of all food accessible to consumers.

The report revealed that in 2022, households accounted for 60% of the total food wasted, while food services were responsible for 28%, and retail contributed to 12%.

The report emphasized the necessity of enhancing and fortifying data infrastructure to facilitate the monitoring and oversight of food waste. It highlighted the deficiency in tracking systems in many low- and middle-income countries to achieve Sustainable Development Goal 12.3, aiming to halve food waste by 2030, especially in retail and food services sectors. Currently, only four G-20 nations (Australia, Japan, U.K., U.S.) along with the European Union possess food waste estimates adequate for monitoring progress towards 2030.

Continue Exploring: Farmtheory secures $1.45M seed funding from Merak Ventures to reduce food waste and boost farm yields

Contrary to common belief, the report indicated that food waste was not solely a ‘rich country problem’. It highlighted that the average levels of household food waste differed by only 7 kg per capita among high-income, upper-middle-income, and lower-middle-income countries. The report also pointed out, “Hotter countries seem to produce more food waste per capita in households, possibly due to increased consumption of fresh foods with significant inedible parts and a lack of reliable cold chain systems.”

Highlighting the connection between food waste and climate change, the report revealed that food loss and waste accounted for “8-10% of annual global greenhouse gas (GHG) emissions – nearly five times the emissions of the aviation sector – and resulted in substantial biodiversity loss, occupying the equivalent of nearly a third of the world’s agricultural land.” The report estimated the economic impact of both food loss and waste on the global economy to be $1 trillion.

The data also indicated a trend where, compared to urban areas, rural areas generally wasted less food. This was attributed to “greater diversion of food scraps to pets, livestock, and home composting.”

The report highlighted that as of 2022, only 21 countries had incorporated food loss and/or waste reduction into their climate plans or Nationally Determined Contributions (NDCs). The report urged governments to “elevate climate ambition by integrating food loss and waste” into their NDCs.

The report defines “food waste” as “food and its associated inedible parts removed from the human food supply chain.” In contrast, “food loss” is defined as “all crop and livestock quantities suitable for human consumption that, either directly or indirectly, are lost from the post-harvest/slaughter production/supply chain… up to, but excluding, the retail level.”

The Food Waste Index tracks the global and national production of food and inedible parts that are discarded at the retail and consumer levels, including households and foodservices. UNEP acts as its custodian.

Continue Exploring: Y Combinator-backed Guac fights food waste with customized, AI-based forecasts

Bambrew raises INR 60 Cr in Series A funding to expand sustainable packaging solutions for FMCG and F&B sectors

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March 29, 2024

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Cleantech startup Bambrew has secured INR 60 Cr (approximately $7 Mn) in its Series A funding round through a mix of equity and debt. The round was led by Blume Ventures.

The funding round also included contributions from Blue Ashva Capital, Mumbai Angels, Indus Capital, as well as angel investors such as Sreevathsa Prabhakar, the founder of Servify, Mandeep Manocha, the founder of Cashify, and RK Narayan, the president of Horizon Industrial Parks.

The startup plans to utilize the funding to expand into primary packaging for FMCG and food and beverage product categories. Additionally, the funds will be allocated towards expanding manufacturing capabilities, enhancing research and development, and growing the team.

Established in 2019 by Vaibhav Anant, Bambrew provides sustainable packaging alternatives to single-use plastics. According to the startup, their products are biodegradable and environmentally and animal-friendly.

Continue Exploring: Consumer Reports finds ‘widespread’ plastics in food, urges immediate regulatory action

Regarding the funding, Anant stated, “We plan to expand into multiple regions with diverse solutions in both primary and secondary packaging. We will use the funds to broaden our offerings in various forms of primary packaging and assist brands in adopting materials that are both sustainable and functional.”

Adding to this, Blume partner Arpit Agarwal commented, “Just as the FAME II subsidies propelled the growth of EVs, we anticipate that the EPR (extended producer responsibility) regulations in India will foster the emergence of circular economy companies. There is a growing demand for sustainable packaging solutions, and there are few comprehensive products available in the market to meet this need. The team’s ability to offer end-to-end solutions for FMCG and ecommerce clients, coupled with their innovative edge over competitors, makes this an excellent investment opportunity.”

Bambrew asserts a growth of 100X since its establishment. The company states that its products are certified by the Indian government and the Central Pollution Control Board as plastic-free and are compostable within 130 days.

Bambrew’s clientele includes major companies such as Amazon, Nykaa, My Glam, Bata, Snitch, Harris Brushes, and Mahindra.

Continue Exploring: Sustainable packaging startup Fibmold secures $10M funding led by Omnivore and Accel

With the increasing awareness about the necessity of reducing environmental damage and addressing global warming, as well as the growing importance of environmental, social, and governance (ESG) norms, cleantech products are experiencing high demand. This surge has led to the emergence of numerous cleantech startups in the country, drawing significant attention from investors towards this sector.

Earlier this month, Sprih, a cleantech startup that assists companies in reaching their sustainability objectives, secured $3 million in funding. The investment will be used to enhance its sales and marketing efforts, recruit talent to develop AI models focused on climate, and expand its partner network.

Earlier this year, INDRA, a provider of water recycling solutions, secured $4 million in funding to deliver water treatment and industrial waste management solutions to businesses.

Continue Exploring: Coca-Cola bottler SLMG Beverages set to invest INR 100 Crore in sustainable solutions this year

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