The retail technology week in numbers
£7.5 billion…Clothing and footwear spend via pureplays is set to soar 67.4% over the next five years, hitting £7.5 billion in 2023, according to GlobalData.
23%…British consumers are three times more likely to shop more with independents than large retailers over the next five years, according to research by Pure360.
The company surveyed 2,045 people. 23% said that they were not surprised about the closures of big names because they failed to offer a personal touch like smaller, independent stores. Despite this, 43% think the latter could offer better online tools in addition to the in-store experience (39% now prefer to do all their shopping online now as it makes their lives easier).
1…Having established itself in Europe, crypto payments solution provider, Paytomat, has landed its first customer in the US market.
7.02%...British skincare brand, Elemis, has renewed its e-commerce personalisation partnership with Qubit.
The two have been working together since 2016. Elemis says that it has seen a 7.02% uplift in RPV (revenue per visitor) from offering personalised product recommendations and promotions to customers based on their browsing and purchase habits.
74%...Retailers, both chain stores and independents, are shifting focus away from older, higher earning shoppers in a bid to woo younger spenders, and it’s a move that could well backfire, according to new research from Hitachi Consulting.
This found that 74% of stores are increasingly focusing their operations and service on 19–38-year-olds, in a bid to capitalise on mobile and digital spending, as well as capturing the long-term loyalty of the next generation of shoppers.
HK$1 billion…Health and beauty retailer, A.S. Watson Group, has announced plans to continue on with its technology partnership programme, which launched last year.
The retailer is stumping up HK$1 billion for a digital transformation strategy that kicked off in 2012 and runs until 2020. The second year of its tech partners programme will see it appoint strategic partners in the areas of e-commerce, store systems, data science, artificial intelligence, data visualisation, technology ecosystem and services. A total of 18 partners are being brought onboard in 2019, and another 15 companies have been identified as future partners.
76% of UK shoppers who usually shop at mid-market brands such as Next and Debenhams are likely to switch to luxury brands including Selfridges, Burberry, Mulberry and Omega at Christmas. That’s according to new research from Bazaarvoice, involving 4,000 consumers from the UK, France and Germany.
5…Walmart and Microsoft are opening an engineering office in Austin, Texas, as part of a five-year cloud provier agreement announced in July.
1,100…Starbucks has announced that its Starbucks Delivers service, launched in partnership with Alibaba’s Ele.Me, is now available across more than 1,100 stores in 17 Chinese cities, including Beijing and Shanghai.
2,000…Narvar has launched its Hierarchy of Needs report, showcasing the factors which make customers buy again (spoiler alert, it’s not discounts or coupons).
The venture, which surveyed 2,000 UK consumers, has highlighted the four C’s which make up what it calls the ‘post-purchase hierarchy of needs’: Communication, Choice, Control and Connection.
1,300…FatFace has launched a 1,300 sq ft pop-up store at Liverpool ONE, the first to stock its full range of men’s, women’s and children’s product lines in the UK.
£10 million…Carluccio’s has partnered with BigCommerce to relaunch its Wordpress-hosted website.
This comes as part of a £10 million investment and brand restructuring. The new site, which took three months to develop, launched in late October.
£310 million…Brits spent £316 million this Bonfire Night, up 2% from £310 million in 2017, according to Mintel research.
10.6%...Starbucks ended its fiscal year on a high note.
Total sales rose by 10.6% for the fourth quarter, supported by a healthy uplift of 7.9% in the Americas. Same-store sales growth in the US was similarly robust, rising by 4% - the best outcome in over a year.
£147.2 billion…If all dissatisfied customers decided to ditch their current retailer of choice, the total annual defection cost would be £147.2 billion, according to new research from Webloyalty and GlobalData Retail involving 2,000 Brits. This is up from £120.6 billion two years ago.
