Peak retailing 2016: what UK retailers can learn from Singles Day

Last weekend’s Singles Day saw shoppers spend $17.8bn (£14.3bn) on Alibaba’s Chinese and international marketplaces – 24% ahead of the previous year. Mobile devices drove 82% of that figure, which represents the total gross merchandise volume (GMV) settled through Alipay on Alibaba’s marketplaces. At the time, Daniel Zhang, chief executive (more…)

Majestic Wine reaffirms multichannel path to £500m turnover target despite falling profits

Majestic Wine today reported growing first-half sales but falling profits, but said it remains on track to turn over £500m a year by 2019 through a strategy focused on becoming an international multichannel retailer. The wine merchant said its drive to boost customer loyalty through improved customer service was working, (more…)