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. November spawns an online monster as delivery delays loom large
UK online retail sales in November increased by 39% year-on-year, according to IMRG and Capgemini research involving over 200 retailers.
With non-essential physical stores closed due to a coronavirus lockdown and Black Friday discounts running throughout November, this represented a +58% growth from October as well as an increase on the three month rolling average of 34% (though not on the six and 12 month averages of 45% and 40% respectively).
2. GoCardless secures £95m funding and eyes e-commerce space
GoCardless, a UK FinTech venture that specialises in recurring payments, has announced a Series F funding round of $95 million, led by Bain Capital Ventures.
It is now valued at over $970 million. The company will use the funding to accelerate its Open Banking strategy, which will include expanding its offering into the e-commerce market.
3. Superdry in board reshuffle as Silvana Bonello becomes new COO
Superdry has appointed Julian Dunkerton as CEO on a permanent basis, replacing his interim contract which had been due to expire in April next year.
The fashion firm is also bringing in Silvana Bonello as Chief Operating Officer.
Bonello will oversee end-to-end operations and planning processes, encompassing merchandising, logistics, IT, business transformation, sourcing processes and corporate strategy.
4. Made.com gives staff a stake in business as it hits sales milestone
Online furniture retailer Made is to give its staff a stake in the business.
All 650 employees, apart from senior management, will receive the same number of share options vesting in equal tranches over the next three years. The move is in recognition of their work during the coronavirus pandemic.
5. Google research shows huge impact of coronavirus on retail space
Just 28% of UK retailers felt that they were properly equipped to maintain business continuity in the early stages of Covid-19, according to research by Google Cloud.
