UK food businesses have put the brakes on promotions – with activity declining more here than in other European markets.The proportion of food sold on promotion in the UK declined by 3.4 percentage points year on year to 49.8%. But it was still a long way above the 27.7% average for food sales in Europe, according to a study by retail analyst IRI.The firm’s Price and Promotion in Western Economies report showed that the proportion of all fast-moving consumer goods sold on promotion in supermarkets across Europe fell 0.7 points year on year. Food promotions fell 0.8 points over the period.IRI described the decline as “the first serious pause in promotional escalation seen by the region since 2012”, adding it was a sign manufacturers were evaluating whether the high cost of promotions gave them sufficient returns.Deals get deeperThe report pointed out that while manufacturers were using promotions less, they were often offering deeper deals – which meant the overall amount saved by consumers from promotions was relatively unchanged.In particular, there were noticeable increases to depth of deal in the UK, the Netherlands and Spain. IRI also noted a drop-off in the use of multi-buy deals, such as buy-one-get-one-free in the UK, which have fallen from 15.2% of products sold to 11.9%. The report said this had been driven by retailers such as Sainsbury’s abandoning all multi-buy promotions.“Retailers rely on manufacturer promotions to increase store footfall, but manufacturers cannot afford to play the promotion game anymore,” said IRI strategic insight director Tim Eales, author of the report.“We expect that more brands will follow by redirecting their marketing spend from consumer promotion to activities that communicate brand benefits, such as advertising, as well as new product development.”He added that IRI research showed promotions did not usually drive category growth but switched volume between brands at lower prices.“Consumers are trained to look for deals in-store and concentrate their purchasing on promotional events. They do not necessarily generate new sales.”Positive impactEales said some promotions can have a positive impact on revenue when used in the right place at the right time, however.“The key is identifying promotions that genuinely drive sales and provide a win-win situation for the retailer, the manufacturer and the shopper,” he added.
He spent the 2017-18 season back in Belgium on loan at Anderlecht, before another loan deal at Turkish side Galatasaray last year.Onyekuru scored 14 goals in 31 league games as Galatasaray won the title.French sports daily L’Equipe however reported yesterday that Onyekuru has inked a five-year contract with the Principality side following a successful medical, which has effectively ended his association with Everton.The transfer of the former Eupen man is believed to cost Monaco €13.5 million plus bonuses of up to €1.5 million.Onyekuru has been signed as replacement for Rony Lopes, who is being linked with a switch to Sevilla before the close of the window.Lukman Haruna, Rabiu Afolabi and Victor Ikpeba have represented Monaco in the past.Meanwhile, Monaco have confirmed that the club and former Nigerian international, Michael Emenalo, have decided to put an end to their collaboration by mutual agreement.The USA 1994 World Cup star arrived in Monaco in November 2017 to take up the position of Sports Director and part of his job description was to oversee recruitment of players.Prior to joining Monaco, Emenalo was technical director at Chelsea and worked with ten different head coaches.In his parting words to Monaco, the former Super Eagles left-back thanked the club for giving him the opportunity to experience the French Ligue 1 and wished the club and supporters a successful 2019-2020 season.Under the leadership of Emenalo, Monaco signed France youth internationals Willem Geubbels and Wilson Isidor, Russia midfielder Aleksandr Golovin, Germany fullback Benjamin Henrichs and England U-19 international Jonathan Panzo.Monaco lost 3-0 to Lyon in their opening match of the 2019-2020 season on Friday, August 9.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Femi Solaja with agency reporEverton have sold forward Henry Onyekuru to French Ligue 1 side Monaco for an undisclosed fee.The Nigeria international, 22, never made an appearance for the Toffees after joining on a five-year deal from Belgian club KAS Eupen for £7m in 2017.