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 some of the most important and interesting stories from the past five days.

1. JD 618 Grand Promotion proves to be an omnichannel hit

Chinese e-commerce giant JD.com reports a transaction volume on its platform of RMB269.2+ billion for the 17th 618 Grand Promotion event, up more than 33.6% year-on-year.

2. Savvy retailers will adapt and thrive in post coronavirus world

RTIH looks at how the coronavirus is fundamentally changing our shopping habits and experiences and how under pressure retailers are responding.

3. Checkout.com hits $5.5 billion valuation

UK-based PayTech venture Checkout.com has tripled its valuation to $5.5 billion following a $150 million Series B funding round.

4. AO boss reflects on seismic shift in retail

Online electricals retailer AO has seen five years of consumer behaviour change accelerate into five weeks during the coronavirus outbreak.

“Now we've got to prove to our new customers that online is a better way even when it's not the only way,” John Roberts, Founder and CEO, said on Twitter.

5. THG Ingenuity signs tech agreements with beauty brands

THG Ingenuity, the technology services division of online retailer The Hut Group, has inked partnership agreements with Elemis, PZ Cussons Beauty, Burt’s Bees, Nuxe, By Terry and Revolution Beauty.