9 Nov 2021
French Retail Chain Carrefour Invests in Digital Expansion Strategy
The Index Today
On Tuesday, French supermarket group Carrefour announced to invest $3.4 billion euros towards digital commerce expansion from 2022 up until 2026. The new strategy plan comes as it aims to enhance its business services through innovation and technology.
The focus on e-commerce will provide the business an edge over rivals such as Amazon through major overhaul of data and retail media, financial technology, digitization of various services and more. Carrefour’s investment strategy will boost a 50% increase and will raise annual investment to 1.7 billion euros. The investment will also improve e-commerce Gross Merchandise Value which is the total value of merchandise sold at 10 billion euros.
Chairman and CEO Alexandre Bompard said during a statement, “As a successful first transformation plan comes to its end, we now want to transform Carrefour. A traditional retailer with e-commerce capabilities, into a digital retail company, which places digital and data at the heart of all its operations and its value creation model.” Alexandre Bompard has been leading the company since 2017 and has implemented the five-year plan, which is now currently at the final phases.