Retail

About 150 jobs have already been lost in Bolton as company reports 145% rise in profits and hands £20m to shareholdersBusiness live – latest updatesThe online electrical goods seller AO World has revealed it is outsourcing up to 200 UK call centre roles to South Africa blaming rising labour costs, as it handed £20m to shareholders.As the retailer reported a jump in profits, it said it was shifting the majority of call centre jobs overseas “in response to ongoing inflationary cost pressures, and particularly rising employment costs”. It expects to save about £4m a year as a result of the change. Continue reading...

• Central banks are expected to dominate the global economic agenda this coming week, overshadowing news regarding AI and Iran. • Key US economic indicators will be under scrutiny, with a primary focus on the release of May retail sales data. • Investors are closely monitoring the first FOMC meeting featuring Kevin Warsh, alongside the formal signing of the Iran deal.

• Shoptalk Europe unveiled five major predictions for the future of European retail during its 2026 event in Barcelona. • The forecast identifies AI shopping agents, the rise of weight-loss drugs, a "recommerce boom," personalized physical stores, and revamped supply chain planning as primary drivers of change. • These trends are expected to fundamentally reshape the retail industry over the next decade, impacting how consumers shop and how businesses operate.

• Only 10% of Australian retailers report the ability to deliver AI-driven personalisation at scale, highlighting a significant gap between technological ambitions and current capabilities. • The struggle is driven by fragmented data systems, with 73.3% of retail leaders describing their marketing technology and data environments as only partly integrated. • Operational hurdles remain high, as over 80% of leaders state that critical work on identity resolution and establishing a single customer view is still under development.

• Artificial intelligence is projected to generate between €240 billion and €320 billion in economic value for the European retail sector over the next five years. • The transformation will be driven by ten key shifts in how retailers integrate AI to optimize operations and customer experiences. • This shift matters as it represents a massive potential financial windfall and a fundamental change in the competitive landscape of European commerce.

Bosses of M&S, Sainsbury’s and Tesco among those writing to Starmer calling for action on youth unemployment crisisWe would like to hear from young people in the UK about their job-hunting experiencesSome of the UK’s biggest retailers are planning to write to the prime minister urging him to tackle the youth unemployment crisis, with signatories expected to include the bosses of Marks & Spencer, Sainsbury’s and Tesco.Lobby group the British Retail Consortium said it had drafted a letter to Keir Starmer calling for action, and is circulating it among its 200 members, which include all the main UK retailers (with the exception of Games Workshop) as well as smaller shops. The letter is expected to be published on Wednesday. Continue reading...

Consumer group makes ‘super’ complaint to ACCC after investigation found dangerous items on platforms such as eBay, Amazon and AliExpressGet our breaking news email, free app or daily news podcastCigarette lighters that look like toys, gel blasters, flick knives and fake tongue studs are among the “frightening” number of unsafe and potentially banned products being sold to Australians on online marketplaces, a Choice investigation has found.After identifying the products, Choice on Wednesday formally asked the Australian Competition and Consumer Commission (ACCC) to take action against the retailers and begin a review of the country’s product safety laws more generally. Continue reading...