Outside core retailing business.
Myer is considering the commercial value of its digital and data products relating to technology, media, publishing, insights and analytics.
“To date, our focus for these businesses has been to support the core business. However, there is no doubt that there is significant longer term potential to leverage these assets,” executive chairman, Garry Hounsell said in a letter to shareholders.
The Myer management team will hire new talent from traditional, start up and international companies and deliver new digital experience to the market faster.
Since January 2018, Myer has aligned its digital, data, loyalty and financial services businesses under chief operating officer, Mark Cripsey.
This has led to strong growth in online sales; the launch of Zippy, an all-in-one team member fulfilment app; a partnership with Australia Post’s Shipster delivery club; the launch of Myer Market; the launch of last minute Christmas deliveries with Uber and being the first Australian department store to offer Apple Pay and Android Pay via the new Myer credit card.