Next is reportedly relooking at plans to extend its online business platform to host numerous smaller brands, boosting its revenue streams.
First mooted in May last year, the venture could see the retailer use a new ‘Total Platform’ to offer a fully supported online service, which would utilise Next’s infrastructure – from logistics to customer databases and warehouses.
According to a story in The Times today, chief executive Lord Wolfson, has his eye on Next becoming the “Ocado of fashion”.
Commenting on the article, Eloise Shuttleworth, senior director – customer success at Iterable, a cross-channel growth marketing platform, said: “Next’s expansion of its online platform could not have come at a better time. Recent figures published by PWC revealed that over 17,500 chain stores closed in 2020, unable to withstand the pressures of the pandemic.
“Over the past year, online channels have been critical to retail’s survival, enabling businesses to transcend lockdown restrictions, whilst continuing to engage with their consumers. In recognising the power of eCommerce, Next is securing its place on the high street of the future – a hybrid experience bringing together the best that digital and brick-and-mortar retail have to offer.
“Customer habits have changed during the pandemic, potentially forever, and the high street must change along with it. As restrictions begin to ease, we expect to see retailers continue to maximise eCommerce sales, offering customers unique deals and a more flexible way to browse – perfectly complementing the in-person shopping experience.”
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