This week in retail: 28 February 2019

This week in retail: 28 February 2019

From the Marks and Spencer - Ocado deal to convenience awards season, we look at what’s been going on in the world of retail and how it affects Post Office.

Marks and Spencer and Ocado deal announced

On 27 February M&S announced that it will buy a 50% share of Ocado’s retail business for £750m. Ocado’s partnership with Waitrose ends in 2020, when the online retailer will provide a home delivery service for M&S for the first time.  

Paypoint CEO steps down

Last week Dominic Taylor stepped down as CEO of Paypoint, one of our key competitors in the payments market. The position will be filled by Patrick Headon, the former eBay Europe business development director and Diageo Central & Eastern Europe managing director.

Over to China…

A report from eMarketer has suggested that China is set to take over the US as the world’s top retail market. Chinese customers are increasingly “quality and service conscious” and the ecommerce penetration rate is “very high” according to vice president of strategy and operational improvement at JD.com, Chenkai Ling.

…and back to Scotland

Where the Scottish Grocer Awards finalists were announced this week. We want to say congratulations to all the retailers with a Post Office who have made it through to the finals of this prestigious award.

What does it mean for Post Office?

M&S has been heavily reliant on its food sales over the past year and clearly want to take advantage of the continuing transformation of online shopping in the UK grocery market. The power of online retail is also clear through the choice of new Paypoint CEO. And lastly, a number of retailers with a Post Office have been announced as finalists in the Scottish Grocer Awards, and we’ll be looking at the secrets of their success over the coming weeks.