Payment terms – why we’re bucking the trend

This weekend saw more headlines about payment terms given by the big fmcg companies, all of whom happen to be our clients.

Whether it be Premier Foods and their alleged ‘cash for contracts’ demands, 2 Sisters Food Group with their alleged 3% discount requirements for paying within 90 days or Heinz allegedly telling their suppliers that their payment terms have moved from 45 days to up to 97 (none of which, it’s worth noting, we’ve experienced).

The stories don’t mention the majority who pay promptly within 30 or 45 days.

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Online: off kilter

The mainstream UK grocers have been tripping themselves up all year and everyone has been laying into them while they’re down.

Yet online grocery is marked out as the rare success story, but we’ve been at this for a while, so set it in its context: why haven’t those out-of-town sheds gone the same way as the bookstores? Why are people still shopping there when you consider the traffic, parking, weather, other people, limitations on what you can fit in the car, and everything else you’d rather be doing? Something must be wrong somewhere. Why don’t I do my grocery shopping online? I must be target group 1. But they’ve never asked me why I don’t.

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3 Questions I would love to ask the ACCC

1) If an Australian grocery retailer introduced a club, whereby the top ten manufacturers in Australia were “invited” to give them 1.5% of sales made through their stores, in addition to existing trading terms, what do the think the impact would be on the FMCG industry in the country and what would the Australian Competition and Consumer Commission (ACCC) do […]

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