Online and in-store sales are growing fast, according to research by the Office for National Statistics, published 21 September. Despite the common misconception that the rise of online retail is coming at the expense of physical stores, this report highlights that the current retail ecosystem is allowing both to thrive.
Key findings from the report show that so far this year:
– Shoppers have spent about £366bn on retail sales, 4.7% up on the previous year
With more retail data being generated than ever before, you’d be forgiven for thinking retailers know the numbers behind every part of their business. However, departmental silos and understanding the data is causing data friction. In this Q&A with RetailTechNews, Jason Grauel, vice president, product management, Delphix, explains what causes data friction, and how the retail industry must tackle the issues it creates.RetailTechNews: Can you explain what data friction is and how companies suffer from it?
Jason Grauel: Enterprise data [...]
This week, Alibaba Group has unveiled a one-year leadership succession plan as its executive chairman, Jack Ma, prepares to leave the company he co-founded and hand over the reins to current CEO Daniel Zhang.
Ma, whose face and name have become synonymous with the e-commerce giant, will remain in his role until 10 September next year to ensure a smooth transition to Zhang, according to Alibaba.
The announcement, which was released on 10 September when Ma celebrated his 54th birthday, also revealed [...]
In this piece for RetailTechNews, Rob Prevett, founder, Disruption Summit Europe, goes into detail on how the internet of things (IoT) is going to revolutionise the future of customer experience. It’s no major claim that the IoT is going to fundamentally change the nature of interactions between businesses and consumers. After all, better connections mean better business, right?
However, as IoT technologies develop at a rapid pace, with new applications across almost every industry, the nature of what it means [...]
RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Black Friday Losing Stranglehold on Sales; Millennials Giving Mobile the Cold Shoulder; and Christmas in August.Black Friday Losing Stranglehold on Sales
Despite increasing hype, consumers are not holding out for Black Friday and Cyber Monday deals as much as in previous years, new research from CJ Affiliate has revealed.
The study shows that the beginning [...]
RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Retailers Must Optimise Omnichannel; Mobile for Millennials; and U.S. Supermarkets’ Struggles.Retailers Must Optimise Omnichannel
Over half (52%) of shoppers in the UK believe that retailers need to offer a more seamless experience between online and offline commerce to retain their custom, according to research by PushON. The research shows that retails should invest in technology that enables [...]
RetailTechNews rounds up some of the biggest stories in the European retail technology space. In this week’s edition: Summer Weather & World Cup Fever Push Retail Growth in June; Shopgate Integrates with Shopify; and Groupon Looking for a Buyer.Summer Weather & World Cup Fever Push Retail Growth in June
The summer of 2018 is proving a good time for UK retailers. According to the BRC-KPMG Retail Sales Monitor for June 2018, retail sales increased by 1.1%, compared with June 2017. On [...]
This week, ride-sharing operator Grab has further expanded its offerings to include grocery delivery as well as unveiled a suite of APIs (application programming interfaces) to allow other companies to integrate their services with Grab’s platform.
The grocery service, called GrabFresh, is delivered through a partnership with Southeast Asian grocery delivery provider, HappyFresh, offering a range of more than 100,000 products from 50 supermarket and speciality grocery chains.
Orders will be fulfilled by GrabExpress drivers and delivery partners, which can be [...]
RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Retailers Struggle with Consistent Omnichannel experience; Dining Experiences Improved by Tech; and Sports Influence exteEds Beyond Kit & Clothes.Retailers Struggle with Consistent Omnichannel experience
Just 5% of UK consumers say they received a ‘very consistent’ customer experience (CX) when comparing a retailer’s website to its app or shopping in-store, according to a study by PCMS.
A further 30% said CX was only ‘quite consistent’, [...]
While personalisation technology is something most brands and retailers are familiar with, using it effectively takes a certain skill. Here, Mukund Ramachandran (pictured below), CMO, Dynamic Yield, tells RetailTechNews about the state of personalisation in the retail industry.RetailTechNews: Can you briefly explain how Dynamic Yield’s AI-powered personalisation platform works?
Mukund Ramachandran: We use artificial intelligence to ensure that each user, or audience, receives the optimal experience for them. Our machine-learning algorithms test everything in real time, constantly collecting user data and [...]