The five most important retail tech news stories of the week
It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail technology space. Here's your briefing on the most important and interesting stories from the past five days.
1. John Lewis boss Sharon White puts retail tech at heart of strategic vision
John Lewis Partnership Chair Sharon White has set out her plans for the department store and Waitrose grocery business.
The £1 billion project includes the company, which has been shuttering stores in recent times, reaching profits of £200 million in the next two years and £400 million by 2025, and expansion of digital, virtual and delivery services.
2. Former Asda boss Andy Clarke talks retail transformation
Retail could be on the verge of running out of inspiring ‘from the shop floor to the boardroom’ stories as technology and digital strategies transform the space.
That’s the view of Andy Clarke, who served as Asda CEO from 2010 to 2016, until being replaced by Sean Clarke (no relation), the head of parent company Walmart’s operations in China.
3. BRC Payments Survey shows continued shift from cash to cards
UK card use rose from 54% of transactions in 2016 to 61% in 2019, according to research from the British Retail Consortium.
This trend has accelerated under the coronavirus pandemic, with more customers shopping online or paying by card in-store.
4. PayPal makes major crypto move with launch of new service
PayPal customers will from early 2021 be able to use cryptocurrencies to shop at the 26 million merchants on its network.
5. Alibaba preps record breaking 11.11 Global Shopping Festival
Alibaba Group has held a kick off media event for this year’s 11.11 Global Shopping Festival (aka Singles’ Day).
The e-commerce giant announced that, for the first time, it will bring the event, now into its 12th year, to audiences outside China through a series of livestreamed events, each to be held from 16:00 to 17:30 CET/15:00 to 16:30 GMT on 10th and 11th November.
