Card payments have become the most popular form of payment for the first time ever, as cash payments continue to decline. According to new data from UK Finance, cash payments dropped by 15 per cent over the last year to 13.1 billion, while a boost in card payments in the final quarter saw them pull ahead for the first time with 13.2 billion. A huge increase in contactless payments helped tip the balance over 2017, rising 97 per cent to 5.6 billion, with an estimated 63 per cent of UK adults now using the technology regularly
Ikea, Anthropologie and Lowe's are among those adopting AR, as the technology quickly catches on, writes Michael Quoc, CEO and founder of Dealspotr.
Speaking at SXSW, the two brands detailed how, in just a few years' time, the technology has changed everything from creative strategies to organizational structures, with no signs of slowing down.
June 26 2014: Rutland partners buys Maplin for £85 million, with a view to “improving” the business through restructuring and investment. It aimed to build on its recently improved performance to “release further potential” and grow what appeared to be a business with an aptitude for growth. Though Rutland partners had experience in investing in underperforming businesses and turning them around, it is likely it underestimated the significance of the online threat despite the warning signs
Dixons Carphone has reportedly offered a lifeline to staff at rival retailer Maplin, whose future is up in the air after it filed for administration on Wednesday. Dixons Carphone chief executive Sebastian James told BBC News that he was “really sorry” to hear about Maplin’s downfall and hinted that his company may be open to poaching some of its staff should the worse come to worst
Maplin has officially fallen into administration after talks with potential buyers collapsed at the eleventh hour yesterday. Maplin has called in administrators Zelf Hussain, Toby Underwood and Ian Green from PwC to handle the process, and stated that it would continue to trade normally as it does so. However, the future of its 2500 staff and 200 store estate will be up in the air until the administration process is complete
Reports have emerged that online retail behemoth Amazon is planning to open many as six more Amazon Go stores this year. The news was first revealed by technology website Recode , which said “multiple sources familiar with the company’s plans” have said the new high-tech, cashierless grocery stores are likely to open in Seattle and Los Angeles. Amazon is reportedly eyeing at least three locations in Seattle, where the first Amazon Go is based and where the company has its global headquarters.
Ocado has seen profits plummet, reporting an overall loss for the full year despite seeing sales rise as it continued to ramp up investment in its technology arm. For the year to December 3, the online-only grocer saw sales rise 12.4 per cent, but it endured a major drop in pre-tax profits, reporting a loss of £500,000 compared to a £12 million profit in the prior year. Retail earnings over the period also rose 4.5 per cent to £79.2 million, while order numbers rose 14.3 per cent to a 263,000-order average per week
Amazon has been awarded a patent for a smartwatch-like wristband which tracks its warehouse workers’ movements and monitors their performance. The system reportedly has three parts.
Maplin has introduced a new scheme where customers can pay later or spread the cost over time for items ordered online. This new initiative sees the technology retailer partnering with financial technology supplier Klarna to use their Pay Later and Slice It service