"Quote...unquote"

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

“It’s no secret that retail revenue is shifting from bricks to clicks. But it would be an exaggeration to say bricks and mortar retail is dead; as physical store sales still account for over 90% of total sales in most large markets globally across developed and developing countries. The advent of the Apple retail experience in cities around the world and Amazon’s opening of the Amazon Go stores provide recent evidence against the bricks and mortar doomsday predictors.

Instead, what we’re seeing now is the rise of the “Phy-gital” convergence. Digital engagement is being leveraged to elicit and augment the physical retail experience for the consumers, not replace it. Instead of opting for digital-only, leading retail clients are actively using digital outreach to engage with consumers and drive footfall in the retail stores by offering exclusive in-store promotions and attractive shopfloor experiences.

In fact, our leading retail clients are increasingly leveraging the hybrid models where online and offline work together to keep the consumer glued in. A strong digital presence is eminently complementary to keep the consumers engaged and when their High Street visit happens, giving them an engaging consumer experience that is best delivered in-store. This collaboration between digital and physical will prove to be the saving grace for the High Street retailer.” Neil Chapman, Partner, Infosys Consulting

“We already know from the awful working conditions in their warehouses that Amazon has precious little regard for their staff. But these accounts show they think they can ride roughshod over every taxpayer in Europe despite their eye-watering revenues.” Tim Roache, GMB General Secretary

"I've cashed in 1/10 of my chips (most of it, to reinvest next to you…the shareholders). Don't worry, I'm still in the game, and we're going to bring this House to its knees." Patrick Byrne, CEO, Overstock

"Frictionless experiences are the future, and digital payments are key to such experiences. Consumers prefer shopping at retailers that offer digital payment capabilities. The ability to pay with their smart device gives consumers one more reason to shop with us." Gurmeet Singh CDO and CIO, 7-Eleven

“This notion that stores are dying or there is a ‘retail apocalypse’ is exaggerated. Instead, this is a time for a retail rebirth. While the industry may refer to it as omnichannel retailing, consumers across the globe no longer strongly distinguish between online and in-store channels.

All retailers are struggling with balancing the personalisation traditionally offered through e-commerce shopping with the convenience of an in-store experience. We see this time and again as more e-commerce retailers are opening bricks and mortar shops, and traditional retailers are looking to strengthen their digital and direct-to-home fulfillment.” Lee Gill, Group Vice President, Global Retail Strategy, JDA

“Clearly times are tough at Debenhams and the Chairman Ian Cheshire, is doing a credible job defending their position, but clearly needing landlords to rethink about the cost of property. New formats may be helping, but the challenge is how the shadows of the past can be shaken off to create a long-term future for this stalwart of the UK High Street.” Catherine Shuttleworth, CEO, Savvy

“We need our High Streets and town centres to reclaim their personalities‎. They are losing their souls by copying eachother and focusing too much on shopping, but you can’t compete with the internet.‎ It’s ridiculous to try.

Tourism - the leisure and visitor economy – is the key. We need town centres like Greenwich, York, Perugia (Italy) or Salamanca (Spain), where retail and tourism are blended seamlessly to create attractive places for residents and visitors alike. Heritage, identity and attachment are still valued, getting people’s hearts.

My current research shows a vibrant market can also be a catalyst for revitalising town centres. They’re often the first chance for young entrepreneurs to test their ideas on a pop-up stall. They meet other traders and share ideas, it gives an area energy. Spain has invested in markets and has seen the benefits.” Dr Andres Coca-Stefaniak of the University of Greenwich

"I don't think it means that much, frankly. He (Jack Ma) stepped back from the CEO role (at Alibaba Group) about four or five years ago and very specifically made a comment about wanting the younger people to lead the company. I'm sure he'll be just as involved as he has been in his Chairman role, even if he doesn't have the formal title.” Kevin Carter, Founder of The Emerging Markets Internet exchange-trade fund