June 24, 2021 | GroceryGeniuses Blog

Halfords expects cycling sales to soar in FY21 as the British cycling boom continues

GroceryGeniuses June 24, 2021

Halfords Groups, a British motoring and cycling giant retailer, expects its cycling sales to rise in FY21 as its annual profit has tripled. Britons enjoyed cycling during the pandemic that led to the firm’s revenue rising by around 13% to £1.29 billion. Halfords said it expected pre tax profit after IFRS 16 adjustments to surpass £75 million in the current year.

Another COVID-19 wave in Southern China clogs the world’s busiest ports

GroceryGeniuses June 24, 2021

Southern China has observed another outbreak of COVID-19, which has caused a backlog at China’s most crucial ports that could take several months to clear. Guangdong, a Chinese province in the south and the world’s busiest ports, was under lockdown to curb spiking COVID-19 cases. Many operations have been resumed, but Yantian port in northern Hong Kong has already borne the loss. The aftermath of this blockage is a disrupted global supply chain and surging shipping costs. The backlog has already spoiled consumers’ Christmas holiday shopping this year due to global supply and demand imbalance.

Entire Retail sector to benefit from The Amazon Prime Day Halo Effect

GroceryGeniuses June 24, 2021

Online shoppers are waiting to shop till they drop as Amazon Prime Day is just around the corner. As per a report by Adobe, the halo-effect formed by the two-day long virtual shopping spree will lift sales for the entire retail sector. In 2020, at $10.4 billion, the Prime Day online shopping spending exceeded the level of Black Friday ($9 billion) and went close to Cyber Monday’s level of $10.9 billion. Amazon has successfully shaped the consumer mindset to shop in bulk. A survey conducted by Adobe revealed 58% of consumers plan to shop on Amazon Day.