"Quote...unquote"

This week’s choice quotes from the retail technology world…

“If you are John Lewis and 80% of your tax bill is on paying for buildings and people, you are not going to compete (with online giants such as Amazon). Yet go around the cities in this country and ask them which of the stores most contributed to city centre regeneration, well, it wasn’t an Amazon warehouse, I can tell you…Amazon should be broken up into three different businesses as the first step.” Martin Taylor, Chief Executive, the RSA

“The new reality for many businesses will involve augmented, virtual and mixed reality technologies to increase efficiency and improve customer service and employee engagement. With AR and VR’s technical roots in the gaming industry, it’s transfer to the entertainment industry was always the next likely step, but what we’re finding exciting and what we believe will fuel the major growth in this sector is its take-up by in industry and manufacturing processes.

Progress is slower than the optimists had hoped, yet it seems to be stronger and more sustainable than the pessimists predicted. The reality is that many businesses now need to have a full AR/VR strategy to ensure they are not left behind.” Heiko Garrelfs, Sector Principal, Hampleton Partners

“The loyalty of customers is changing; brand is now less important to them than how quickly they get a product and how much it costs. People don’t subscribe to Amazon Prime, for example, because of the brand name; its simplicity and reliability is the reason for its unrivalled success.

As the psychology of what constitutes a good purchase shifts, our basic human principle to be appreciated will never diminish. The companies that that are able to match the likes of Amazon and tap into the modern consumer psyche will be the ones that will succeed.” Rob Meakin, MD, Loyalty Pro

“I think the future is not one or the other, bricks and mortar stores will never "die" and e-commerce is clearly not going anywhere. I believe those who succeed will be those who understand which aspects of human nature will never change within the shopper journey, and which aspects can be improved and simplified.” Lihi Pinto Fryman, Co-founder and CMO, Syte

“Our research shows how crucial digital channels are to the success of merchants across sectors. For many of them, the website is now their most important storefront, and seamless and frictionless customer experience are top priorities. However, there shouldn’t be a trade-off between customer experience, sales growth and security. The right omnichannel strategy will offer customers a seamless payments experience, support loyalty and revenue growth, while at the same time provide maximum security.” Andy McDonald, VP, Merchant Payments, ACI Worldwide

“Our customers told us that they stay with a retail brand not only because of promotion and pricing, but also the differentiation in total experience, from store design to service, product ranges and digital experience. Focusing on our best customers is not just about increasing sales; it goes far deeper than that. It’s about intensifying our relationship with them, fostering their emotional attachment and promoting brand advocacy.” Malina Ngai, Group Chief Operating Officer, A.S. Watson Group

“The approval of the CVAs is a seminal moment in House of Fraser’s history. We must now continue with the implementation of our restructuring plan. This is also an important milestone in the transaction with C.banner and moves us toward the completion of the capital injection first announced in May.” Frank Slevin, Chairman, House of Fraser