With Black Friday just around the corner, retailers are preparing for what looks to be another lucrative shopping season. Last year the seasonal peak maintained its status as a revenue generating juggernaut for retailers as data shows Black Friday sales hit almost $9.8 Billion with Cyber Monday even surpassing that at $12.4 Billion.

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Technology continues to shape and transform the way the retail industry operates. With changing customer expectations met with emerging technologies such as generative AI and RFID-powered self checkouts, the retail technology sector continues to set new standards for convenience, personalisation and brand loyalty. 

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Below are a handful of retail technology stories that caught our eye this past month.

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Hard-pressed shoppers will benefit as retailers carry ‘weight’ of UK tax rises, says Primark owner

Retailers’ reactions to the recent autumn budget have dominated the headlines in recent weeks with Primark owner, and many other retail leaders, expressing concerns over the burdens of the government's recent tax hikes. The National Insurance increase will mean Primark’s costs will increase by tens of millions of pounds and will undoubtedly have a knock-on impact to the high street. While Primark is already looking to automate its stores and warehouses to offset those financial burdens, CEO, George Weston, says more decisions need to be made but insists he has “no intention” of raising prices during the rest of the year.

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Beyond Black Friday: Why Retailers Should Rethink Peak Discount Strategies

Black Friday is no longer just about attracting customers to make single purchases driven by significant product discounts. It has now become a staple of the festive season. Yet, how can retailers maximise Black Friday to drive long-term engagement? 

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Retailers should look to the likes of Pandora and M&S who have both shifted their focus away from traditional discounts and instead looking to build lasting customer loyalty. Pandora provides and enhance personalised experience while Marks and Spencers offers loyalty programes that rewards practical benefits to its customers. As a result of pivoting their strategies, both retailers have enjoyed increased sales while also engaging with their customers all year long and not just during the seasonal peaks.

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The rise of the subscription economy and the future of e-commerce

To meet changing consumer demands, we are seeing more online retailers offer subscription-based payment models, providing enhanced convenience and loyalty through automated re-purchases. Yet, as this subscription model continues to become increasingly more mainstream, ecommerce businesses need to ensure they are providing value and transparency to retain subscribers and avoid over saturating the market. 

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A retail future of more QR codes and no tills, says report

Will traditional barcodes be a thing of the past? According to new research from GS1 UK and FT Longitude, we could be seeing a shift toward QR codes and check-out free shopping as they will surpass traditional barcodes by 2026 with some believing they could completely replace them by 2030.