TK Maxx takes musical approach with new campaign
TK Maxx has unveiled a new campaign designed to encourage shoppers to get the most out of the retailer.
The company acknowledges many consumers consider the TK Maxx shopping experience to be time consuming and overwhelming, however, the campaign plays to those who enjoy the store’s “treasure hunt experience”.
Titled ‘TK Max the Right Way’, the new spot features shoppers who were previously “TK Maxxing wrong” being converted by brand evangelists who offer tips on how to ‘TK Maxx the right way’ through a musical-inspired production.
“Not everyone knows how to ‘TK Maxx The Right Way’, so we’re championing the very best tips and tricks from our loyal shoppers on getting the most out of the TK Maxx experience – from shopping with an open mind, to starting in easier-to-shop categories like kids or homeware or online,” Deborah Dolce, senior vice-president and ground brand and marketing director at TJX Europe, says.
The commercial ends with a chorus highlighting the store’s bargain offerings and will be supported through social, in-store and online across six key European markets.
It forms part of TK Maxx’s wider strategy to reinforce its position as a shopping destination for consumers looking for big brands at smaller prices.
Kraft Heinz replaces CEO with AB InBev veteran
Kraft Heinz has hired former AB InBev marketing veteran Miguel Patricio as its new CEO as the company looks to combat a lack-lustre start to the year.
Patricio, who spent two decades at ABInBev which included a sting as global chief marketing officer between 2012 and 2018, will replace Bernardo Hees.
He was brought in following a decline in the stock market value of the business and just two months after Kraft Heinz took a $15.4bn charge to write down the value of assets including the Kraft and Oscar Mayer trademarks.
The company also posted a $12.6bn loss and cut its dividend by 36%.
Hees had been CEO of Kraft Heinz since the company was created with the 2015 merger of Kraft Foods Group and HJ Heinz Co.
Patricio will take over the top job at Kraft Heinz in July while shares in Kraft rose slightly following the news after falling more than 40% over the past year.
Huawei’s revenue jumps 39% amid intelligence fears
Huawei’s first quarter revenue climbed 39% to $26.8bn (179.7bn yuan) while its net profit margin rose to about 8% for the quarter, the Chinese tech firm revealed.
However, the company did not disclose its actual net profit.
Last month Huawei said it had signed 40 commercial 5G contracts with carriers and had shipped more than 70,000 5G base stations to various markets across the globe, adding that it predicts it will have shipped 100,000 base stations by May.
The news comes despite US pressure on other countries to ban its equipment from 5G networks. The US believes Huawei’s equipment could be used for espionage but the company has repeatedly denied the claims.
The company’s networking equipment is already banned in the Canada and Australia and the British government is believed to be considering restrictions, according to the Telegraph.
The revenue growth was higher than the predicted 19.5% gain, meaning the results suggest the US had little influence on Huawei’s performance.
UK’s craft beer industry slows amid growing competition from multinationals
The UK’s craft beer industry has slowed with new figures revealing just eight new breweries open in the last 12 months, down from 390 during the year prior as more and more drinks giants enter the craft beer sector.
At the end of 2018 there were 2,274 breweries in Britain, up from 1,352 in 2013 with the sector still in its “gold rush” phase, the Guardian reports.
However these days it’s becoming increasingly hard for new brewers to start up as the industry continues to advance and mature as multinational have started to buy and invest in existing craft and artisan breweries.
In 2015 Camden Town Brewery was sold to AB InBev in 2015 for a suspected £85m while Heineken has purchased stakes in Beavertown and Brixton breweries.
Easter sunshine triggers struggle for DIY stores and shopping centres
Shopping centres and DIY stores have struggled during the Easter break likely due to the warm weather.
Indoor shopping centres were hardest hit, seeing a 11% decline in footfall for Friday and Saturday compared to the year prior, the Guardian reports, citing information from retail data company Springboard.
Research from Ipsos Retail Performance also revealed a 10.4% decline year on year in footfall in non-food stores on Easter Saturday.
Additionally, retail parks, whose garden centres and DIY shops usually experience strong Easter results, also saw footfall decline by 2.4% and 1.3% on Friday and Saturday respectively.
Although the data from Springboard indicates footfall on the high street climbed by almost a fifth on Friday and on Saturday football was up 8.8%, and up 15.6% during the first half of Sunday.
Last year heavy rain kept shoppers at home.
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