Five retail tech things we learned last week
RTIH takes a tongue in cheek look back at an eventful week for the retail technology space.
1. Even FinTech darlings have bad weeks
Buy now, pay later specialist Klarna apologised last week after some customers experienced issues with the UK Xbox All Access pre-order launch.
The Swedish FinTech provides the financing solution for the Xbox All Access bundle available from GAME and Smyths Toys. Due to high demand, a number of consumers were approved for financing, but were unable to complete their orders on the retailers’ websites. And many were quick to vent spleen on Twitter.
Klarna spent much of last week in damage limitation mode. And to think, earlier this month they were the toast of the FinTech world, having raised $650 million in an equity funding round, at a post money valuation of $10.65 billion. A month of two halves, Brian.
2. Richard Walker for PM!
The UK is at a “perilous turning point” during the coronavirus outbreak and must act, Prime Minister Boris Johnson told MPs last week, announcing new restrictions for England including a return to home working and 10pm closing for pubs.
Certain sections of our mainstream media were quick to run ‘a second wave of panic buying’ scare stories, often based on social media accounts suggesting fresh signs of empty supermarket shelves. Sadly, some of our rivals in the retail space followed suit (for shame, guys!)
Enter Iceland Foods boss Richard Walker, the voice of reason amidst a sea of stupidity. See what he had to say here.
Also last week, Walker summed up the frustrations of retailers across the country as he called for a free trade deal between the UK and the EU. Can we get rid of Johnson and make this guy PM, please?
3. Lego and Sainsbury’s don’t think very highly of journos
Sainsbury’s has started doing those Lego card things again.
And, yeah, Lego (and by association Sainsbury’s) have used the promotion to have a pop at journalists. Sob. Consider our feelings well and truly hurt, guys.
4. Ring’s latest home security camera sounds like the stuff of nightmares
The new Always Home Cam is an autonomous drone that acts as a security device by flying around your home when you’re not there.
Once done, it returns to its dock to charge its battery. This will set people back $249.99 when it starts shipping next year, and quite frankly we want nothing to do with it.
5. Closing pubs and restaurants at 10pm = the dumbest idea of 2020
The UK government’s decision to shut down pubs and restaurants after 10pm is going to create havoc in an industry which was finally starting to recover from the coronavirus outbreak. End of.
