Next showed a real contrast in fortunes in its quarterly results yesterday as its physical shops continued to experience a decline in sales whereas its online directory business went from strength to strength.
This is just more evidence, if any more is needed, that customer behaviour continues to evolve.
Chief exec Lord Wolfson said that he wants to make sure that Next remains at the forefront of shoppers’ minds when clothes-shopping but I think that it is important for the company NOT to neglect its stores.
My argument would be that if it invests in making its stores a more desirable destination, both online AND offline sales will benefit.
Given that its store portfolio distinguishes it from the likes of Amazon and ASOS who basically have online sewn up, it should use it to its advantage.
The second thing I wanted to talk about today was Coca-Cola.
You may recall that there was a great deal of excitement recently what with Canada legalising the use of cannabis and rumours of Coca-Cola looking into making cannabis-infused beverages.
Well Coke’s chief exec James Quincey poured cold water on that for the moment as he said that the company won’t be going down this road until cannabis-derivatives are more widely accepted and the scientific research more robust.
Given that companies such as Constellation Brands and Molson Coors have announced development plans for cannabis-infused beverages in Canada, you can understand why everyone got a bit excited.
Still, it sounds like it’ll be some time yet before Coke gets you high ;0)