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. Luxury brands embrace Singles' Day as livestreaming goes mainstream
Alibaba Group reports that orders on its e-commerce platforms during the Singles’ Day shopping extravaganza hit a record 498.2 billion yuan ($74.1 billion).
2. UK retailers look to reach Net Zero by 2040
63 UK retailers, including Co-op, Iceland Foods, John Lewis Partnership, M&S and Sainsbury’s, are committing resources to support the BRC Climate Action Roadmap.
This aims to bring the retail industry and its supply chains to Net Zero by 2040.
3. Ocado hit by US ITC investigation into its robot technology
The United States International Trade Commission (ITC) has announced plans to launch a formal investigation into Ocado, which could prevent its robots and other technologies entering the country.
It will look into Ocado’s Smart Platform (OSP) technology based on allegations of infringement of numerous patents from Norwegian firm AutoStore.
4. EU regulators hit Amazon with antitrust charges
The European Commission has filed antitrust charges against Amazon, accusing it of using business data to gain an unfair advantage over independent sellers operating on its platform.
The charges follow a two-year investigation into Amazon's dual role as a marketplace as well as a vendor.
The Commission has also opened a second formal antitrust investigation into the possible preferential treatment of Amazon's own retail offers and those of marketplace sellers that use the e-commerce giant’s logistics and delivery services.
5. Online retailers set for coronavirus powered blockbuster Black Friday
UK online retail sales are set for growth of 35-45% during the Black Friday peak, according to IMRG.
With the coronavirus outbreak causing non-essential physical stores to be closed for long stretches of 2020, growth for the year so far (January-October) is up 34.9%, whereas for 2019 as a whole it was 6.7%.