John Lewis invests 500 million pounds in online operations
British department store group John Lewis is set to invest 500 million pounds in its online operation as the group aims for its internet sales to surpass brick-and-mortar sales within four years, a year earlier than previously expected.
The group has begun a investment scheme which is slated to be finalized by the end of 2018 as John Lewis foresees its online arm overtaking its physical arm by 2019. In order to keep up with the predicted online demand, the group is set to add hundreds of new positions within its IT department, according to the Mail On Sunday.
The online investment plan will be be rolled out over the next three years and is set to include the finalization of John Lewis's new warehousing system and funding its its IT sector to improve systems, forward planning and customer analysis.The announcement comes as online sales at John Lewis grew 13.6 percent in the week to December 5 in comparison to the same period one year ago.