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Shoppers clicking but not collecting

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While online shopping is growing apace, retailers are still struggling to make click and collect services work.

In total, one in seven shoppers said they have failed to pick up a parcel after buying it, according to reserach by Barclaycard.

The financial services firm estimates shoppers are leaving items worth a total of £228m a year uncollected.

Shoppers are automatically reimbursed by retailers if they do not collect their online orders after a certain period of time.

Kirsty Morris, director at Barclaycard Payment Solutions, says retailers need to improve their offering, for example by offering instore experiences, to persuade shoppers to collect their parcels.

“Enhancing the Click & Collect experience is a potentially lucrative way for retailers to ward off the unprecedented challenges of the high street and bridge the gap between online and in-store shopping.”

Move to cut trading hours in London

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There are a few stories around today about two lobby groups - the Investment Association and the Association for Financial Markets in Europe - planning to to consult members on cutting trading hours in London.

One idea might be to reduce the trading day from 8.5 to 6.5 hours. Current trading hours are from 08:00 to 16:30 but in practice this requires starting an hour earlier and finishing an hour later.

The idea was first reported by Financial News which quotes April Day, head of equities at Afme, saying: “There are lots of industries trying to make the working day more flexible. Why shouldn’t we be talking about it here in financial services and particularly in trading?”

“As someone who worked in equity sales, when I had my son, I found it very difficult to return afterwards,” she said. Ms Day was a former equity sales director at Dresdner Kleinwort and Panmure Gordon.

Dame Helena Morrissey, who campaigns for female representation on company boards, tells the Times it might make it seem that “women don’t relish hard work. It would be better to consider the working hours issue in the context of what works in terms of delivering the best results and for all of us — men and women. London is obviously between Asia and New York time zones and we therefore might need longer working hours to stay globally competitive.”

What can India do to beat an economic slowdown?

After years of fast-paced growth, India’s economy is losing steam and growth has slowed.
After years of fast-paced growth, India’s economy is losing steam. In this country of more than a billion people, domestic consumption is one of the main drivers of growth but unemployment is rising and people's purchasing power has taken a hit. 

While the government maintains that the economic slowdown is temporary and a revival is not too far ahead, for now the impact of the slowdown is being felt across industries. Car sales are declining, private investment is slowing down and the shadow banking sector is in a crisis. 

India’s central bank has cut interest rates to boost the slowing economy, but is this enough? And with ambitions to become one of the world’s most powerful economies, which sectors can help drive India’s growth in the next 10 years? 

We speak to the vice chairman of the Indian government’s policy think tank, an independent economic analyst, and a business journalist. We ask them what India can do to beat the current economic slowdown.

Presenter: Devina Gupta

Contributors: Rajiv Kumar, Vice Chairperson, NITI Aayog government think-tank; Pranjal Sharma, Independent Economic Analyst and author; Shweta Punj, Deputy Editor, India Today and Social Entrepreneur, Young Global Leader (World Economic Forum)