Editor's Comment

Tesco, Majestic Wine, Lastminute.com and Quiz: the retail response to rising prices and slowing sales

In today’s InternetRetailing newsletter we’re exploring the factors that are having an effect on the way that shoppers buy today – and what leading retailers are doing about that.

We start with ONS figures out this week that suggest a sharp slowdown in the volume of goods that shoppers are buying as prices rise. At the same time, they point to retail sales moving further online.

How are leading IRUK Top500 retailers responding to a fast-changing retail environment?

Tesco reports that its focus on the customer, which includes keeping prices competitive, is paying off with a sixth consecutive quarter of sales growth.

Majestic Wine, meanwhile, is focusing on digital transformation and on the customer, its full-year results show. The emphasis is on ensuring that its service is both relevant and convenient.

Rising sales and profits suggest that Quiz is giving its customers the service and products that they want at a price they are willing to pay. It is now planning to grow online, through international sales, and through its stores, as it takes its omnichannel model global on the back of a stockmarket flotation.

In an interview ahead of the InternetRetailing Summit, to be held this July in Berlin, Alessandra di Lorenzo explains how lastminute.com group is using data in its merchandising to win extra sales.

Finally, today’s guest comment comes from Romain Ouzeau, chief executive of Iconosquare, who has advice for retailers on building and maintaining social influence.

Webinars
Find out more about upcoming InternetRetailing webinars and register for free on the InternetRetailing webinar page. You can also catch up with past webinars on the page: recent sessions have come from IBM Watson on using AI to improve the customer experience, and from SmartFocus and The Entertainer on using social to reach digital customers.