This week's top stories in the Consumer and Retail sector:
When is one second worth £1m? No, we are not talking about Jeff Bezos' salary. Recent research by Deloitte suggests that saving one second at the supermarket checkout would increase revenue by £1m. Simple concept, big impact. In a market flooded by new technologies and disruptive businesses, this is a good example of the benefit of getting innovation right.
The AmazonGo concept (checkout-free retail) may appear to be a gimmick, but it's supported by hard numbers. #RetailTech is about the shift to online and technology revolutionising the consumer retail experience and data capture etc, but it's also about utilising technologies for optimising traditional retail – and apparently it's about selling new tech gadgets vs "boring, depressing retail" (see first article below).
How this is rationalised with the growth of Tupperware parties is a million dollar question...
Is all retail dying or is it just old retail?
Aldi puts a ban on 5p plastic bags
Social media has changed the way we drink
Cutting food waste can hike restaurant profits, study shows
IKEA opens new sustainable store focused on urban living and the circular economy
Direct selling retail expected to thrive this year amidst declining high street
Wearable tech on the rise
Unilever acquires Graze, the snack subscription service
More brands allow customers to provide payment in international currencies amid Brexit preparations
Retail landmark Liberty is exploring a potential sale for over £300m
UK food industry urges government to firmly halt non-Brexit related matters in order to facilitate overwhelming no-deal Brexit planning