This week in FMCG
Woolworths profit soared
Supermarket giant Woolworths is on the winning end as it reported its first-half profit jumped 37.6 per cent to $969 million with comparable food sales boosting it.
Chief executive Brad Banducci said Big W will lift performance in the period. He sees the growth signals the Australian grocery’ transformation. Total group revenue rose 3.8 per cent to $30 billion driven by strong sales growth from its supermarkets, Dan Murphy’s, BWS and the group’s hotels. We wonder what Coles and Aldi are planning to do about this.
Daigou association formed in Australia
Daigou shoppers had something to look forward to as the Australian China Daigou Association was launched this week. Australian business leaders and Australian based Daigou partnered to make it happen.
The latest move is will benefit Australian businesses as it will provide an opportunity for many more Aussie companies to promote their products in China. Currently, the Daigou market in the country is estimated at $850M. Searching for Aussie products in China doesn’t have to be so hard to find now.
Unilever dealt with palm oil issue
Multinational giant Unilever has addressed the palm oil issue as it plans to boost transparency. Groups have expressed concerns on deforestation and human rights abuses in different countries that produces palm oil. Unilever’s chief supply chain officer Marc Engel said the company hoped their latest move will pave way for an industry-wide movement towards supply chain transparency. We hope too that the multinational giant will inspire other businesses to do the same.