TGIF Flux Fam 🥳

Here's everything you need to know today - in under 3 minutes.

Today's big stories: 

🎄 Coles is prepping for its best Christmas ever

👊 Vicinity Centres and Click Frenzy's owner are joining forces

📸 LinkedIn is launching a freelance platform

Oh and get this...

Kellogg's, the world famous cereal company, is facing a class action lawsuit in the US, with the lawsuit alleging that Kellogg’s Pop-Tarts product don’t have enough strawberries in them - only in America!

Coles is expecting its best Christmas ever... but could the Grinch wreck it all?

Background: Coles dominated it during COVID thanks to the panic buying of canned veggies, pasta... and of course, that mighty toilet paper.

What happened: With lockdowns continuing until pretty much now, Coles has continued to do very nicely... just not as nicely as during the heat of the pandemic. In fact, for the 3 months to September 30, Coles saw a tiny 1.8% increase in supermarket sales. 

What else: Somehow, Coles reckons they're about to head into their best. Christmas. ever. With lockdowns easing, Coles says people will be in the mood to spend big on food 🍔 and liquor 🍻.

So what's the key learning? 

💡While Coles is upbeat, they know there are still plenty of reasons to be concerned. 

💡We've got:

• Restrictions on the construction industry pushing back store refurbishment plans
• 20,000 team members required to isolate in Vic and NSW across August and September
• Price increases from suppliers
• Extra costs to keep customers and staff COVID-safe

💡As borders open, Aussies might be thinking a little harder about where and how to spend their cash. Not to be the Grinch or anything, but things ain't always as good as they seem. And Coles knows it.

Two Aussie rivals are joining forces and is this a test case for world peace?

Background: Vicinity Centres is Australia's second-biggest owner of shopping centres with a few big names under its belt (Melbourne's Chadstone, Sydney's DFO in Homebush, Brissy's Myer Centre). In fact, two-thirds of the population live within 30 minutes of a Vicinity shopping centre.

What happened: Global Marketplace is the parent company of online sales GOAT Click Frenzy. And now, Vicinity has taken out a near 20% stake in the company.

What else: The deal will reportedly take Global Marketplace's value to $50 million, and will bring Vicinity heaps of new customers (1.7 million to be exact!).

So what's the key learning?

💡United they stand, divided they fall. Vicinity and Global Marketplace are technically rivals (one competes in the physical world...the other, in the online world).

💡The deal is a sign that the pair realise they have a lot to offer one another. Vicinity can give GM access to 7,000 retailers, and GM can give Vicinity access to 1.7 million customers.

💡The use case of physical stores is starting to change through 'click and collect' - with these stores becoming mini distribution centres. Vicinity's 61 shopping centres around Australia = 61 distribution centres for Global Marketplace's customers. How's that for synergy?!

Time to start your side hustle 'cos LinkedIn is launching a freelance job site

Background: LinkedIn is the professional's paradise. A social media site designed for white-collar workers to link up, and of course, self promote.

What happened: LinkedIn has its own job search feature - and it's extremely popular. In fact, job hires on the platform have increased more than 160% year-on-year. Now, it's rolling out a new job search platform for freelancers.

What else: It's called Service Marketplace, and it's for short-term roles only... putting it in direct competition with big players like UpWork and Fiverr. 

So what's the key learning?

💡The job market has changed a lot in the last 10 years, and LinkedIn knows that it needs to keep up. Employees and employment arrangements have started to shift from full-time permanent roles to short-term contract roles.

💡In Australia alone, there are around 1 million independent contractors, and casual employees account for around 23% of employees (up from 20% four years ago).

💡LinkedIn has realised it hasn't been able to monetise the job opportunities that freelancers have created through networking on the platform. So by creating a space for freelancers, LinkedIn can eventually charge clients for job ads. Up here 🧠 for thinkin'.