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. Waitrose draws first blood in Ocado online battle
Waitrose has given former partner Ocado a bloody nose as the pair duke it out for the hearts and minds of online shoppers.
Ocado Retail, the joint venture between Ocado and Marks & Spencer, had an average of 328,000 weekly orders in the fortnight after its 1st September launch. This was down from 345,000 orders a week in the seven weeks running up to that date, according to a report by The Sunday Times.
Waitrose, meanwhile, has seen weekly orders on its website grow to 190,000, a near 20% capacity increase in the space of a month.
2. Coronavirus outbreak accelerates rate of payments innovation
Customers are migrating away from cash as affinity for digital payments grows, according to research by Capgemini.
This is being driven by increasing smartphone usage, booming e-commerce, digital wallet adoption and mobile/QR payments, with a predicted growth rate of 12% between 2019-2023.
3. RetailEXPO 2021 cancelled as coronavirus hits hard
Reed Exhibitions has announced that the London-based RetailEXPO exhibition/conference will not take place in 2021 as a result of the Covid-19 pandemic.
4. The Very Group CTO Andy Burton set to depart as retailer returns to profit
The Very Group’s Chief Technology Officer, Andy Burton, will depart in February 2021 to take on a new role in a different sector.
Burton joined the company last year from The Stars Group, an online gaming specialist, where he became a director following a merger with Sky Betting and Gaming in 2018.
A search is under way to find his successor. The Very Group made the announcement as it reported a return to profit, with revenue topping £2 billion for the first time.
5. Amazon teams with Rivian for electric delivery van milestone
Amazon has taken the wraps off its first customised electric delivery van, designed and built in partnership with Rivian.
The e-commerce giant is pitching this as a major milestone on its path to get 10,000 Amazon EVs on the road by 2022 and 100,000 by 2030.
