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John Lewis reports 99% plunge in profits

John Lewis has reported profits for the first half of of the year are down by nearly 99%. The retailer has blamed the cost of new stores and IT, coupled with heavy discounts from rivals, for the profit dive. £40 million went into matching discounts amongst rivals, revealed the department …

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Two thirds of UK consumers have abandoned online shopping purchases

67% of UK consumers have abandoned an online retail transaction due to the payment process, according to new research by PPRO Group. Down 1% in the past four years from 68% in 2014, PPRO group warns that online retailers are continuing to lose out on sales by failing to address …

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Card payments now account for 75% of UK retail sales

For the first time ever, card payments account for more than three quarters of all retail sales, that’s according to BRC’s annual Payments Survey. The report indicates that this has partly been driven by UK customers increasingly using cards for lower value payments, traditionally dominated by cash, which now accounts …

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Argos launches Voice Shop on Google Home, but experts warn consumers “still have concerns”

Retailer Argos has unveiled a new voice shopping service, which will let consumers reserve products in local stores via Google’s Home smart speaker. Shoppers will still need to browse through Argos’ catalogue or website to find products, then they will be able to use Voice Shop to ask Google Home …

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Are we at risk of tech giants taking over the high street?

Over the years independent retailers have had to battle it out on the high street with larger chains and supermarkets. In more recent times, the addition of competing with online retail has proved a headache for many, with the behemoth that is Amazon being blamed as the source of much …

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eBay’s UK marketplace has turned 1,065 sellers into millionaires

eBay has released its 2018 UK Retail Report, which shows that in the 23 years since the marketplace launched in the UK, it has created 1,065 millionaires. In 2018, the website has been visited by 24 million Brits each month, and 13.4 million listings are added to eBay.co.uk by mobile …

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5 years of shop price deflation comes to an end

BRC and Nielsen’s latest shop price index has revealed that for the first time in over five years, shop prices entered inflationary territory. In August, shop prices increased by 0.1%, up from the July decrease of 0.3%. This broke a deflation cycle of 63 months. “Despite significant increases in costs …

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Google allegedly geared up for first permanent physical retail store

Google is set to launch its first ever permanent store in a 14,000 square foot retail space in Chicago. According to a local report at the Chicago Tribune, the store will open in the city’s Fulton Market District. The store will be just a few blocks away from Google’s Midwest …

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UK consumers expect Brexit to trigger surge in high street prices

Nearly two thirds of UK consumers expect Brexit to trigger a surge in high street prices next year, according to new research from Parliament Street. The new survey found that nearly a quarter of consumers expect a ‘substantial increase’ in high street retail prices due to Brexit, whilst 40% expect …

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Keeping up with tech is “biggest worry” for retailers

Keeping up with technological innovations is the “greatest challenge faced by retailers” according to new research from Retail Business Technology Expo (RBTE). The report shows that amongst the 7,500 retail professionals polled, 35% noted staying ahead of the innovation curve as their greatest challenge. Issues around meeting customer experience was …

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