Today in food commerce, Alibaba mulls a fundraise for its Freshippo grocery chain in China, valued at $10 billion, while retail giants race to overcome grocery shortages. Plus, there’s a look at how frictionless concessions can ease event-goers’ main point of friction.
Alibaba is weighing a fundraise for its Freshippo grocery chain in China that has an estimated valuation of $10 billion. The funding round is anticipated to take place in February. Freshippo is coordinating with an advisor regarding the strategic and financial investors that would be invited to participate in the funding.
Just 345 days to go until Christmas, but the nation’s retail leaders were able to find time to focus on a different problem this week. Specifically, procuring the hard-to-get grocery and COVID-linked items that consumers want at a time when shelves are looking increasingly bare.
Major chains are developing new store digital-order-friendly formats. Domino’s is scaling back a major promotion to cut costs, and consumers are flocking to drive-thru coffee shops.
Small restaurants may be facing a difficult road ahead, but far from keeping their heads down and doing the bare minimum to make ends meet each day, many remain willing to invest in innovations, forging their way toward a brighter future. Main Street’s hospitality businesses are more likely than any other kind of establishment to be looking to upgrade, according to research from the January issue of The Main Street Merchant Index™ (MSI), a PYMNTS and Melio collaboration.
Last.app, a Barcelona-based startup, has received 2.2 million euros ($2.5 million) to expand its restaurant management platform. The company’s software was developed to simplify the day-to-day operations and management of restaurants.