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Online shopping surge breathes new life into mundane commercial property


Online shopping surge breathes new life into mundane commercial property
By Maja Garaca Djurdjevic
15 January 2021
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1 minute read
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The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, as customers shift their habits from major malls to digital screens.
The demand for warehouses is increasing on the back of a significant shift in consumer habits, with the Australia Bureau of Statistics revealing that nearly 1 million residences shopped online for the first time last year.
And while shoppers have since been allowed to return to physical stores, the online craze is not going away with the ABS recently noting that more items were purchased online in the first week of December than ever recorded before. ....

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Shoppers Stop Q3 results: Net loss widens to Rs 25.11 cr


Shoppers Stop Q3 results: Net loss widens to Rs 25.11 cr
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Last Updated: Jan 15, 2021, 10:34 PM IST
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Synopsis
The company had posted a net loss of Rs 6.51 crore in the October-December quarter a year ago.
ETRetail
Shoppers Stop s total expenses stood at Rs 778.78 crore during the quarter as against Rs 963.90 crore a year ago, down 19.2 per cent.
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Shoppers Stop Ltd on Friday reported widening of its consolidated net loss to Rs 25.11 crore for the third quarter ended December 31, 2020.
The company had posted a net loss of Rs 6.51 crore in the October-December quarter a year ago.
Its total income declined 27.2 per cent to Rs 746.45 crore during the period under review as against Rs 1,025.53 crore in the corresponding quarter of the previous fiscal, Shoppers Stop said in a regulatory filing. ....

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AI body measurement platform to tackle clothing fit


UK-based artificial intelligence and virtual reality company TechNovus has developed an Artificial Intelligence-powered body measurement platform it says allows consumers to instantly match their body measurements as they shop online, tackling the problem of poor fit.
Many fashion shoppers are deterred from buying online as it can be hard to get sizes right, the firm says.
Mezura AI 1 addresses this issue by using the camera in mobile phones and AI technology to take detailed body measurements in seconds and match them with the desired clothing items using international measurement standards. 
Jamil El-Imad, CEO of TechNovus, said:  We believe Mezura AI has the potential to transform the online and offline retail experiences, offering a quasi tailor service that allows customers to get an exact fit for clothing within seconds of taking a photo. ....

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