Inside Retail
MAY 19, 2024
LVMH subsidiary and French jeweller Fred has opened its third Australian boutique at Collins Street in Melbourne. The store – its first in Melbourne – incorporates features of the Mediterranean Sea and hues of sunset, depicting the French Riviera in its interior design. Product offerings at the store include Force 10, Chance Infinie, Pretty Woman, and the brand’s High Jewelry creations.
Retail Wire
MAY 19, 2024
Renowned computer scientist Professor Geoffrey Hinton is advocating for urgent governmental intervention amidst rising concerns over AI-induced job displacement and widening inequality. His expert opinion is not to be taken lightly since he is often hailed as the "godfather of artificial intelligence.
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Inside Retail
MAY 19, 2024
Ask any beauty insider and they’ll tell you that natural skincare – where products are infused with ingredients found in nature rather than a lab – is trending. The global market for natural and organic cosmetics is projected to reach US$37.44 billion by 2032, with a compound annual growth rate of about 7.19 per cent from 2024 to 2032, according to Zion Market Research.
Retail Wire
MAY 19, 2024
Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, touched down in Indonesia's picturesque island of Bali on Sunday, embarking on a mission to introduce Starlink satellite internet service to the vast archipelago nation.
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Inside Retail
MAY 19, 2024
Food-delivery firm DoorDash has expanded its liquor delivery service into Tasmania, allowing consumers to order alcoholic beverages from BWS through its app. Puji Fernando, GM at DoorDash Australia, said the launch expands its market for third-party alcohol delivery and gives consumers options aside from food and groceries. “Whether it’s [ordering from] their favourite local restaurant, a mid-week top-up grocery shop or now; restocking the fridge with their favourite alcoholic beverages from BWS
Retail Wire
MAY 19, 2024
In a bid to navigate the treacherous terrain of shareholder approval, Tesla's chairperson, Robyn Denholm, likened the challenges ahead to scaling "Mount Everest." This revelation comes amidst the looming votes on relocating Tesla's headquarters to Texas and ratifying CEO Elon Musk's staggering $56 billion compensation plan. Denholm's remarks, as reported by the Financial Times on Friday, shed light on the uphill battle the electric vehicle giant faces in its quest for shareholder support.
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Retail Gazette
MAY 19, 2024
Morrisons is being sued by a subsidiary of French giant Bouygues, over its £2.5bn deal to sell its petrol forecourts. In the wake of the sale, the supermarket abandoned a EV charging agreement it had signed in 2019 with Equans EV Solutions, which is owned by the French conglomerate, which gave it exclusive rights to install chargers at 273 of its forecourts.
Inside Retail
MAY 19, 2024
Australian retail businesses have been warned they are missing out on sales by reacting too slowly to customer trends – and that poor retail demand planning is resulting in unnecessarily high levels of capital tied up unproductively in unsold inventory in warehouses and stores. Jamie Cormack, founder and CRO at Quantiful, a developer of AI-powered demand planning software, told Inside Retail that using AI to predict demand is the only technology capable of deriving insight from large data sets t
Retail Wire
MAY 19, 2024
Blue Origin made a triumphant return to space tourism with the launch of its New Shepard rocket, marking the end of a nearly two-year hiatus. The NS-25 mission, which took off at 9:36 a.m. CT (10:36 a.m. ET) on Sunday, May 19, from Blue Origin’s private facility in West Texas, was the company’s seventh crewed flight and the first since a failed uncrewed test flight in September 2022.
Retail Gazette
MAY 19, 2024
Victorian Plumbing has acquired online only UK bathroom retailer Victoria Plum as it looks to accelerate its growth. The bathroom specialist snapped up its rival for £22.5m, which it said represents 0.5x the company’s estimated annual revenue and “reflects the significant strategic value of the Victoria Plum brand and its associated intellectual property”.
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Retail Wire
MAY 19, 2024
As Formula 1 drivers gear up for the Imola circuit this weekend, Ducati has unveiled a special limited edition Monster to honor Ayrton Senna, marking 30 years since his tragic passing on this track. This isn't just a commemorative piece; Senna had a deep connection with Ducati, having been both a fan and a collaborator with the brand.
Retail Gazette
MAY 19, 2024
Next boss Lord Wolfson pocketed £4.5m in pay last year as the retailer’s profits hit a record high of £918m. The chief executive received a fixed pay of £908,000, with benefits of £36,000 and a £136,000 pension, The Mirror reported. Wolfson’s remuneration included an annual bonus of £1.362m, and a long-term incentive plan worth £2.072m. Subscribe to Retail Gazette for free Sign up here to g et the latest news straight into your inbox each morning The Conservative peer’s bumper s
Hyken
MAY 19, 2024
Each week, I read many customer service and customer experience articles from various resources. Here are my top five picks from last week. I have added my comments about each article and would like to hear what you think too. 99% of Consumers Rely on Online Reviews Before Making Purchases by Jon McDonald (CardRates) Reviews offer insight that an online description can’t and provide feedback from customers who have used or previously purchased the product of interest.
Retail Gazette
MAY 19, 2024
Morrisons has cut the price of more than 400 food and household cleaning products as it commits to lock the costs for at least eight weeks. The supermarket chain said its latest round of discounted products, most of which are available online, would “continue to help customers make their money go further” as they prepare for the summer months.
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Retail Gazette
MAY 19, 2024
M&S is the latest major retailer to experience an online outage as both its website and app went down for several hours on Saturday. Shoppers on its website were met with a message that read “you can’t shop with us right now”. The retailer told Sky News that its website was down from “early afternoon” on Saturday but was up and running again by 6pm.
Retail Gazette
MAY 19, 2024
Amazon has faced calls from investor Abrdn to step up monitoring its use of AI ahead of the retail and tech giant’s AGM this week. Abrdn, one of the UK’s biggest fund managers that has a £1bn stake in the online retailer, has urged it to set up a committee of independent directors to deal with the impact of its AI usage on human rights The investor is concerned about the risk of scandals or oversights at Amazon hitting its investment, according to The Sunday Times.
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