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IRI SalesOut Weekly News Update: 2nd October2020

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Welcome to our ‘weekly news in brief’, covering the latest from UK retailers and manufacturers.

Weekly News Headlines

Mergers & Acquisitions

Retail News in Brief

The Co-op has launched five new ‘fake-away’ meal kit boxes available in different themed cuisines that can be delivered via Deliveroo in 30 minutes or bought in selected stores for £8. The box sets serve two people, include mains and sides in each and are made from 100% British meat.

Tesco claims to have become the first UK retailer to set a sales target for plant-based meat alternatives, as it commits to a 300% sales increase by 2025. Tesco has set out a range of measures centred around: expanding the availability of plant-based meat alternatives across all its stores, investing in value so that affordability is not a barrier, while working with suppliers to bring new innovations to customers.

A study by OnePoll on behalf of Waitrose suggests demand for home-grown produce is growing, with almost 75% of consumers wanting to see more retailers source food from British farmers. The study also revealed that a quarter of people already actively seek out British products when shopping online and that over 70% would like more retailers to source meat from British farms.

Having just exceeded Tesco to become the most valuable food retailer in the UK, Ocado saw its share price tumble 7% with the announcement that AutoStore is suing them for manufacturing and selling technology that allegedly infringes on its patents. The Norwegian rival claimed it has copied its technology and infringed its patents.

Manufacturing News in Brief

Kerry has introduced an ‘advanced’ citrus extraction technology, which it claims enables manufacturers to provide cleaner ingredient labels while delivering a fresh, clean and vibrant taste profile. The new technology has many different applications, including flavoured waters, ready-to-drink teas, energy drinks, hard seltzers and spirits, as well as in different foodstuffs.

Beyond Meat is to significantly increase its presence in UK supermarkets after launching its flagship Beyond Burger into a swathe of Sainsbury’s stores this week. The brand has rolled out its pea protein, coconut oil and potato starch-based burger into the chilled aisles of 372 Sainsbury’s stores while also making a debut in 41 Gourmet Burger Kitchen outlets.

Molson Coors has inked an exclusive agreement with Coca-Cola to manufacture, market and distribute its new Hard Seltzer product, Topo Chico Hard Seltzer, in the US. The exclusive agreement marks the latest step by Molson Coors to grow its above premium portfolio and become a major competitor in the fast-growing hard seltzer segment.

Harry’s has expanded its haircare offer with a five-strong line-up for scalp care. Three variants of Shampoo & Conditioner are joined by a Scalp Scrub and Scalp Cream. The new range of NPD is sulphate-free, and is rolling out now to Sainsbury’s, Boots and Superdrug.

Other News in Brief

Businesses looking to stockpile food and drink are struggling to find available storage space, with warehouses across the country already at capacity. Many facilities have rapidly filled up as companies prepare for a ‘perfect storm’ of supply chain pressures this winter: Christmas, a coronavirus second wave, and the end of the Brexit transition period.

Food delivery riders working for digital platforms such as Deliveroo and Uber Eats are employees, not self-employed workers, the Spanish Supreme Court has ruled. The case brought to court by a former employee of Spanish food delivery service Glovo, could have big implications for the entire gig economy.

A third of UK employers are planning to make staff redundant over the next three months according to a YouGov study. With the end of the furlough scheme imminent and it's replacement scheme less generous, the report found that 37% of 2,000 company managers polled expect to make staff redundant. In companies with more than 250 employees that figure hits 60%.

According to the FDF, Food and drink exports fell for the first time since 2015 due to coronavirus disruption. Year-on-year exports fell by 13.8% to £9.7bn in the first half of 2020 driven by reduced access to foreign markets and hospitality closures. Sales to the EU were particularly hard hit, down almost 15% compared with 13% in non-EU countries.

 


Published 5 October, 2021

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