UK consumer price index decreases to 4.6% in October 2023

Mastercard partners with NEC for in-store biometric payments; Amazon Prime unveils festive shopping features; and Coles extends Quiet Hour across stores to five days a week 

View in browser View in browser  |  Forward to a friend  | Signup In Brief November 16, 2023 | Up-to-date international news and features on the global retail industry Spotlight UK consumer price index decreases to 4.6% in October 2023 During the month, headline inflation in the UK dropped to 4.2% and food inflation fell by 2% to 10.1%. Latest news Mastercard partners with NEC for in-store biometric payments The partners aim to provide consumers with a modern, secure, and innovative checkout, eliminating the need for traditional payment methods. Amazon Prime unveils festive shopping features Simplified order tracking, continuous 24/7 live chat support and transparent reviews are designed to streamline the shopping process. Coles extends Quiet Hour across stores to five days a week The expansion is intended to cater to a broader range of customers, including working parents. COP27: Have we committed to our goals? In general, the goal of COP27 centered around adaptive measures to save those that are in danger of the effects of climate change. Central Group takes full control of Selfridges amid Signa's restructuring Ownership of the companies holding the underlying properties will remain unchanged after the deal. Majority of US consumers are dissatisfied with retail mobile apps New research highlights the necessity for retailers to develop their mobile offerings both in-store and online. LEGO opens world's largest store in Sydney, Australia The 900m² store features the first LEGO Minifigure Factory in Australia. Read more news In-depth read Ecommerce market dynamics The emergence of ecommerce has made it imperative that companies understand consumer behavior, deliver personalized service, and offer competitive pricing models. Ecommerce giants like Alibaba and Amazon dominate the space, supported by huge customer bases, robust mobile payment platforms, and technology expertise in areas like AI. Smaller players focus on disruptive business models, such as subscription services, to make their mark. Per GlobalData, the ecommerce market was valued at $5.9 trillion in 2022 and is expected to grow at a CAGR of >9% by 2027. GlobalData network Packaging Gateway   |   Just Style   |   Just Drinks   |   Just Food Thank you for reading. Please send any news or comments to: consumer.editorial@verdict.co.uk Contact us LinkedIn | Twitter Editorial consumer.editorial@verdict.co.uk Advertise with us Click here About Retail Insight Network retail-insight-network.com is one of a network of 30+ proprietary B2B websites, with an unrivalled global audience of active decision makers, influencers, and opinion leaders across the world with a combined readership of 55 million industry professionals each year.   Was this email forwarded to you? Sign up here GlobalData, John Carpenter House | Registered in England No. 03925319, John Carpenter Street, London, EC4Y 0AN, United Kingdom Unsubscribe Manage Preferences London