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Woolworths CEO Says Tech Is “Critical To Future Of Retail”

Woolworths Chief Executive, Brad Banducci, has emphasised the need for retailers to embrace technological innovation, stating that tech has “become critical to the future of retail”.

Banducci was in New York attending an event at Microsoft’s flagship store, which has given retailers and executives the opportunity to hear pitches from several tech start-ups.

“We are here just to look at all the good ideas we can use and apply in Australia”.

The showcase featured various enterprises, including those utilising social media to drive sales, and inventory shelf life management.

He hopes various startups will enable the retailer to enhance its new tech hub, WooliesX.

As mentioned to The Australian Banducci affirms that technology is core to Woolworths’ operations, and would enable further business transformation:

“[Technology] is going to change more about the way we manage the flow of product into the store as much as it will change the customer interface with the store”

“Technology is an important part of retail”

“I think that is what we are all seeing here: technology has become critical to the future of retail”.

When queried on the impact of Amazon Australia, Banducci claims it is simply “too early to tell”.

“It’s so hard to tell — it’s so early in their onshoring”.

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