UK-based multinational telecommunication titan, Vodafone Group Plc., the seventh-largest telephone company across the globe headquartered in Berkshire and London, had issued a statement late on Tuesday, the 8th of October 2019, saying that telco conglomerate had been exploring an option to shutter down about 15 per cent or 7,700 stores.
Meanwhile, followed by Tuesday’s (October 8th) statement, the Group’s Chief Executive, Nick Read had been quoted saying that Vodafone Group Plc., was also looking to upgrade some of its outlets, as a shift in consumer behaviour to purchase more online leaving in-Store sales dried up, had forced the company to adopt such measures.
Aside from that, Vodafone Chief Executive Read had told that the telco Group would go through a sweeping reform of its stores by implementing customers’ insight data, while the Group was expected to transform roughly 40 per cent of its outlets by the end of 2021 fiscal year.
Besides, addressing to a radical transformation of consumers’ behaviour, Read told to the reporters at a press briefing in Duesseldorf, Germany, late on Tuesday (October 8th), “If you believe that 40% of your transactions are going to be digital, then how does that impact why someone goes to a store.
The journeys and the purpose of the store changes. (That) means that we will have more ‘experience’ stores, less standard format stores (and) more convenience, and kiosk and click-to-collect stores. ”