Did you miss today’s news? Never fear we’ve got the lowdown. Here’s what you need to know on Friday, November 1 2019.
Social sales on the rise
The findings from Paypal’s latest MCommerce Index report have been revealed and businesses who adopt social into their eCommerce strategies are seeing great strides. Almost one in five businesses (18 per cent) are now selling via social media channels. This figure has increased from just 13 per cent in 2018. Still, business adoption lags behind that of consumers, with 27 per cent having purchased via social media in the past six months.
Mobile purchasing has also continued to grow with the average sales on mobile jumping 32 per cent year on year, indicating businesses need to ensure they are optimised for mobile if they want to stay ahead. Paypal reports more than half (55 per cent) of Australians are now buying via their mobile device on a weekly basis.
Woolworths owns up to underpaying staff
Supermarket giant Woolworths has gone on the record to say it underpaid staff to the tune of $300 million, with Woolworths CEO Brad Banducci saying “there’s no excuses in these situations”, as he offered affected staff an “unreserved apology”.
Two Woolworths managers first raised concern to the corporation earlier this year, but the brand has only now come clean on the issue which affects over 5700 current and former managers across the stores’ bakery, butchery and deli sections. Woolworths is expected to owe on average $50,000 to each affected staff member.
Property market bouncing back
Melbourne and Sydney property markets are clawing their way back up with house prices having their highest monthly rise in four years. The Melbourne market is leading the charge with a 2.3 per cent increase while Sydney property has jumped 1.7 per cent in October.
Overall, national house prices have increased 1.2 per cent during the month, which marks the fourth consecutive property values hike on the Core Logic Home Value Index. The upward trend in property values has been accompanied by a jump in sales, driven by low mortgage rates and first homeowners.