The COVID-19 pandemic has accelerated migration towards non-cash payments in Russia, predominantly debit cards. Indeed, contactless debit card payments are increasingly becoming the norm throughout the country. However, at the beginning of the outbreak, due to widespread uncertainty, many consumers used debit cards to withdraw money from ATMs. The closure of retail and consumer foodservice outlets and social distancing later resulted in a decline in POS usage during the pandemic. However,…

Although debit card issuance was heavily impacted by the lockdown to slow the spread of the pandemic in China in early 2020, it has since been recovering quickly with the reopening of the economy. In the first quarter of 2020, one of most obvious COVID-19 impacts on debit cards was reduced circulation of new cards, as almost all bank outlets closed during the lockdown period. In February, in particular, the circulation of personal debit cards slumped compared to the same period a year…

With cash usage in decline throughout Russia, credit cards continue to gain a growing share of consumer payments. In addition, the massive rise in e-commerce following the COVID-19 outbreak has also helped to support this trend. Although consumer spending was negatively impacted by COVID-19 and resulting restrictions, the portion of payments accounted for by credit cards has increased as consumers continue to move away from cash. Online shopping and delivery are already well-developed in…

Virtual credit cards and online credit card approval became the new customer acquisition mode at the height of the pandemic. During the COVID-19 outbreak, particularly in January and February 2020, there was a significant decline in the physical use of banks’ credit cards, as a major decline in use was seen at theatres, restaurants, hotels, shopping malls and tourist attractions as well as on public transport various traffic.

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While outstanding balance will continue to increase at a similar rate to a year earlier in 2020, gross lending will see a marked slowdown. Not only was it difficult for many consumers in China to spend large amounts on non-essential goods during the local lockdowns they were experiencing, but consumers will also be curbing their spending, particularly in terms of taking out new loans, in the face of the economic uncertainty that came with the measures to contain the spread of the virus. As…

The use of fuel cards gradually increased during the review period. However, it is not a classic type of charge card as fuel cards lack a credit option and work in a similar way to debit cards, while allowing companies to control the expenses of drivers and other employees. Although some of these cards have a function to cover fuel expenses at the end of the month, fuel cards with an additional credit function are limited in number. The overall number of such cards across Russia remained…

With the COVID-19 lockdown measures taking place from March-May, breakfast cereals is set to see a significant increase in value and volume sales. As such volume sales will move from a decline in 2019 to a predicted growth of 14%, whereas value sales move from slight growth, to a prediction of 16% in 2020.

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Value growth for baked goods is set to increase from 3% in 2019 to a prediction of 9% for 2020, with volume growth moving from 1% to a prediction of 7%. With official lockdown in place in the country from mid-March until May, consumers spent more time at home, boosting demand for baked goods, with those working and learning for home, demanding lunch and snack options. When the lockdown was announced in the country during March, panic-buying was also noted, lifting sales of both fresh and…

Store cards were not present in Singapore at the end of the review period and are not expected to enter the market over the forecast period.

Also Read – http://www.marketwatch.com/story/global-oled-timing-controller-market-by-type-by-application-by-segmentation-by-region-and-by-country-2021-2021-03-13

Euromonitor…

The outbreak of COVID-19 is having a positive impact on edible oils in Vietnam, with edible oil being viewed as an essential cooking ingredient to use within the home. As such, value growth is set to move from 6% in 2019, to a prediction of 9% in 2020, with consumers cooking at home more often during the pandemic, increasing general consumption.

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Magnit claims plans for further expansion of its retail chain through increasing the density of its presence, as well as organic growth in regions where it has a lower presence. The company emphasises adherence to a multi-format business model that includes development of small supermarkets and convenience stores in residential areas, as well as large hypermarkets, outlets for family shopping and a drugstore retail chain. Magnit will strive to increase brand loyalty and work towards…

The company plans to maintain its focus on the foodservice channel, working on its alliances with large consumer foodservice operators throughout Mexico. In the retail channel, Heinz is well positioned amongst consumers, and the company will continue to leverage the brand to increase its market share. During the forecast period, the player will continue to appeal to women and children through product innovation and advertising.

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Russky Produkt states that stable growth of production volumes, increasing efficiency, cost reduction and optimising its product portfolio are among the main directions for development. The company also emphasises its plans to strengthen national and regional distribution, as well as improving direct sales.

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Grupo Herdez’s strategy is focused on catering to the needs of modern Mexican consumers. The company regularly launches new and innovative products that are both nutritious and convenient for consumers. Strong investments in advertising and promotional activities are expected to remain a common practice for the company, which, complemented by a strong retail distribution network, is likely to sustain dynamic growth.

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Farmer’s Choice seeks to position itself as a high-quality brand and a household name in Kenya as it increasingly focuses on expanding across the East Africa region.

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New Kenya Co-operative Creameries Ltd (New KCC) seeks to position itself as a high-quality milk processor and supplier as it puts into action its plan to expand beyond the borders and across the East Africa region.

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The company aims to maintain its strong leadership in baked goods, while continuing to shape consumption habits and expanding exports. To achieve these goals, it will work to improve its bread production processes and continue to offer traditional and innovative products for consumption across the Baltic States. Maintaining consistently high standards in terms of product quality, safety and hygiene will also remain a key priority for Vilniaus Duona.

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Pieno Zvaigzdes expects to remain the leader in dairy products over the forecast period by anticipating the changing needs of Lithuanian consumers. The company aims to increase profitability by implementing cost-reduction strategies and introducing more added-value products, which generally offer higher margins than basic or standard alternatives. In particular, the company will focus on introducing higher quality and health-oriented dairy products. This will involve the use of higher…

Sanitex UAB aims to remain the leading distributor of packaged food products to consumer foodservice operators and retailers in Lithuania. To achieve this goal, it will continue to focus on maintaining strong relationships with all of its clients and offering high quality and modern logistics services. These services not only include the transportation and storage of goods, but also marketing, accounting, information technology and client servicing.

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Over the forecast period, Eugesta UAB aims to strengthen its position as a distributor of packaged food products to consumer foodservice operators in Lithuania. To achieve this, the company will continue expanding the assortment of products it carries, while also improving the range of services it offers to its clients and investing in strengthening its distribution network and sales department. Attaining its objective will not be easy, however, as it faces tough competition from local…