John Lewis, the UK retail giant, is investing £100m in digital innovation as it prepares for the next big thing in retail. This includes a £100,000 technology incubator competition to find the best ideas for future retail. The company is also launching a new technology hub in London’s Silicon Roundabout to attract tech talent. It is predicted that the next retail revolution will be driven by mobile technology, and John Lewis is keen to stay at the forefront. The company is also focusing on personalisation, with plans to use data to offer customers personalised shopping experiences. This includes a digital mirror that can suggest outfits based on the customer’s size, colouring and previous purchases. The company is also looking to expand its mobile payment options, including the possibility of using mobile phones as a payment method. The move comes as John Lewis sees online sales grow faster than in-store sales. The company is also investing in its IT infrastructure to improve customer service and efficiency.
Go to source article: http://www.theguardian.com/business/2014/mar/02/john-lewis-digital-innovation-next-big-thing-retail?CMP=twt_gu