UK: Tesco to invest heavily in digital services
“To compete in the new area of retailing I believe that Tesco has to be more than a retail company,” Clarke said at a conference in Singapore today. “We have to become a technology company as well. That’s why, in 2013, we will invest three quarters of a billion US dollars in technology, up threefold in three years.”
Retailers across the world are racing to build online stores as customers shift to shopping via computers, mobile phones and tablets.
Tesco, which has stores in China, Thailand, Malaysia and Korea, will also roll out its online grocery offering across Asia, Clarke said.
“Last year I called time on the old space race - I said that in the future, we wouldn’t simply grow by buying more real estate, but instead change the way we engage with our customers and embrace digital retailing,” he said.
Source: bloomberg.com
