Oct 8, 2019

Vodafone to close 1,000 shops across Europe

The telecoms company operates 7,700 stores across Europe but wants to change its role on the high street to reflect changing consumer behaviour. Nick Read, chief executive, said it also expected to transform roughly 40 per cent of its stores. "If you believe 40 per cent of your transactions are going to be digital then how does that impact why someone goes to a store? The journeys and purpose of the stores changes," he said. The plans will not reduce the number of stores in the UK. Vodafone's UK arm said last month it would spend £5.5m opening 24 new franchise stores, creating 100 jobs, with another 50 due to be opened next year. He said combining data from customers, the company's finances and sources such as Facebook meant Vodafone could better understand how people want to use its stores, with many opting to use its app and chatbot for customer service.

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