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. Uber announces Postmates acquisition
Uber is to acquire food delivery rival Postmates in a $2.65 billion, all-stock deal.
It plans to run the business alongside its Uber Eats venture, keeping the Postmates app running, “supported by a more efficient, combined merchant and delivery network.”
2. Walmart preps Amazon Prime rival launch
Walmart is set to unveil a new subscription service later this month.
Called Walmart+, the Amazon Prime competitor will cost $98 a year and include perks like same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas stations, and early access to product deals.
3. boohoo dropped by big hitters over exploitation claims
Next, Asos and Zalando have ditched boohoo following a Sunday Times report claiming workers at a Leicester factory were paid £3.50 an hour, while being offered no protection from the coronavirus.
Boohoo said, if the article was correct, conditions were "totally unacceptable".
4. Retailers rapidly embrace digital technologies amid coronavirus pandemic
Covid-19 is accelerating retailers’ digital transformation efforts, says GlobalData.
“As stores began to reopen doors, retailers are leveraging artificial intelligence, Internet of Things and virtual reality to offer hygiene-centric shopping experiences to customers with ‘contactless retail’ and increase their confidence to shop during the Covid-19 pandemic,” says Venkata Naveen, Disruptive Tech Analyst at GlobalData.
“Tech-enabled applications like virtual queuing, footfall analytics, contactless payments, self-checkout and chatbots have suddenly seen an uptick at Point of Sale for retailers.”
5. John Lewis Partnership shutters stores as coronavirus bites
The John Lewis Partnership will not reopen eight John Lewis stores as it looks to “secure the business’s long-term future and respond to customers' shopping needs”.
It is pulling the plug on two of the smallest in the estate - travel hub shops at Heathrow and St Pancras, four At Home shops in Croydon, Newbury, Swindon and Tamworth and two full size department stores in Birmingham and Watford. Approximately 1,300 employees will now enter into consultation.
