Owners of Coles Group Ltd (ASX: COL) shares, rejoice – the company is taking on a venture that many once would have thought impossible.
Coles will soon be offering home deliveries via drones. That will see most customers receiving their purchases within 10 minutes of ordering.
At the time of writing, the Coles share price is $17.10, 0.8% higher than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.8%.
Let’s take a look at this week’s news from the supermarket giant.
Taking flight: Coles to offer drone deliveries
Owners of Coles shares can pat themselves on the back knowing they’re invested in the first major Australian supermarket to take to the skies.
The supermarket has partnered with drone delivery provider, Wing, to offer the service in select suburbs in Canberra.
Unfortunately, the drones won’t be able to deliver everything shoppers might opt to put in their trolleys in-store.
But they will be flying items such as bread, fresh produce, snacks, convenience meals, health care items, kitchen essentials, and toilet paper direct to shoppers’ doors.
Making the idea of a drone delivering the milk for your morning coffee more enticing; the service is free, and no minimum spend applies.
Coles chief executive of eCommerce Ben Hassing said it will also help the supermarket’s sustainability ambitions by taking some delivery trucks off the road.
To use the service, customers must download the Wing app and place their order through the drone delivery provider.
Most Australians living in Crace, Palmerston, Franklin, Harrison, Mitchell, Giralan, and Kaleen will be able to use the space-age service.
Coles share price snapshot
Despite today’s gains, the Coles share price is still recording a year to date loss.
Right now, its stock is trading for 4% less than it was at the start of 2022. Though, it is 11% higher than it was this time last year.
The post Own Coles (ASX:COL) shares? The supermarket is taking to the skies – literally appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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