Who's been saying what this week
Quality quotes from the retail technology world
“This is the biggest development in how consumers meet Ikea since the concept was founded. We want to learn ... we want to find out how we could keep our identity on a third party platform." Torbjörn Lööf, Chief Executive at Inter Ikea
“Black Friday is no longer about one single day, or week – it looks set to take over the whole month. Retailers have realised the opportunity it holds to create an ongoing experience that can help grow their customer base and loyalty, and so it is now an expectation. Even those retailers who do not want to participate in the peak trading phenomenon need to be prepared for it as shopping fever takes over and consumers scour online retailers, even if they aren’t offering discounts. The retailers who manage their peak trading operations well will be the ones who have made plans across all departments, and ensured that their systems are able to function across all channels, making it a success for both customers and retailers alike.” James Webster, Head of Managed Services at Salmon
“M-Pesa, the popular mobile money development in Africa, has not reduced the demand for cash per se as users deposit cash into an account stored on their mobile phone. And cash can have a role in internet shopping too. The recently launched Amazon Top Up allows users to deposit cash into their Amazon account at participating retailers. There are also apps such as Shpock and Gumtree which allow buyers and sellers to agree on a price and then meet to make the transaction, enabling the buyer to check the condition of the item and for cash to be used. A lot of the resilience of cash to date is down to the work of the wider industry to adapt their models to meet customer demands.” Victoria Cleland, Chief Cashier at the Bank of England
“With potential interest rate rises on the horizon, shaky consumer confidence and ever increasing levels of household debt, uncertainty remains. We’re now moving into the final quarter, which will ultimately define whether 2017 has been a good or bad year for retailers.” Paul Martin, Head of Retail at KPMG UK, discussing the latest BRC KPMG Retail Sales Monitor
“By phasing out the old £1 coin across the UK, the Royal Mint says its new coinage will prevent counterfeiting. However, contactless payments already provide an even more secure means of payment. The simple fact is also that UK consumers are now moving away from cash. There are currently 11 million contactless cards in the country, with a record £23.23 billion spent in the first half of this year on these cards. This will only keep on increasing and the UK becomes, in effect, a cashless society in the coming years.” Sophie Guibaud, VP of European Expansion at Fidor Bank
“We have good momentum in the business, we’re executing our strategy and moving with speed to win with the customer, who is more connected than ever and embracing tools that will save them both time and money. We’re combining the accessibility of our stores with e-commerce to provide new and exciting ways for customers to shop.” Walmart President and CEO Doug McMillon
