The competition watchdog has cleared supermarket loyalty schemes of price manipulation, Sky News reports this morning. According to the Competition and Markets Authority (CMA) review of 50,000 loyalty priced products, 92% offered genuine savings against the usual price.
The story has also been picked up by The Independent, which flags the CMA’s advice to customers to shop around, as loyalty pricing is not always the cheapest option. Meanwhile, The Sun points to the contrast between the findings and a consumer survey, which found 55% doubted loyalty pricing would offer genuine savings.
Elsewhere, it’s a quiet day for food and drink news in the nationals. In City news, The Telegraph reports Just Eat is to quit London Stock Exchange. The company plans to cancel its secondary listing in London, and will keep its shares traded on Amsterdam’s Euronext exchange, where it has a primary listing. Read the full story in The Grocer’s City Snapshot.
John Lewis is “worried” about the looming minimum wage rise, The Telegraph also reports this morning. The retailer has expressed concerns over its employment costs in the wake of the budget, which increased the National Minimum Wage.
UK sales of seasonal pet treats, toys and food are rocketing, according to The Guardian. Sales of Christmas pet lines are up 964% year-on-year at Waitrose online, while sales of seasonal themed dog toys have increased 98% on last year at John Lewis.
Finally, the FT reports on an emerging market for food byproducts. The likes of investment group Butterfly Equity are throwing their weight behind “upcycling”, the process of converting food byproducts into something more appetising, it writes.
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