The retail technology week in numbers
30…You asked and we listened. Our top 10 ‘retail technology startups to watch in 2018’ articles have been hugely popular. They’re great, you said, but they would be even better in one place and divided into categories (e-commerce, payments, in-store etc). So, here you go, dear reader: 30 disruptive retail technology ventures set to make waves this year.
$3.8 trillion…Online physical goods sales will account for 13% of global retail by 2020, or $3.8 trillion out of a global market of nearly $30 trillion, according to Juniper Research.
700…Walmart is set to add more than 500 additional online order collection Pickup Towers to its Stateside stores, bringing the total to 700-plus by the end of the year. This means that the machines will be available to nearly 40% of the US population.
£7 million…More than 2,000 jobs have been safeguarded after Bestway bought the retail division of Conviviality for £7 million. The deal comprises the Bargain Booze, Wine Rack, Select Convenience and WS Retail (trading as Central Convenience Stores) brands.
143…Mothercare is understood to be exploring a Company Voluntary Arrangement, which could see it close a third of its 143 stores and slash rents.
21…Apple Pay has officially launched in Brazil, closely following Google Pay into the country, which arrived last month via a partnership with local bank Bradesco.
Support is initially available only through one local bank, Itau Unibanco, as part of a 90-day exclusive launch partnership. Brazil is the 21st country to get Apple Pay. According to Apple, 67% of all PoS terminals nationwide are ready to handle transactions.
2,700…A majority of retailers will soon be able to offer same-day delivery, whilst fulfilment disruption will be led by drones, autonomous vehicles and crowdsourced models, according to research by Zebra Technologies. This surveyed more than 2,700 professionals in transportation and logistics, retail and manufacturing firms across the US, Canada, Brazil, Mexico, Colombia, Chile, France, Germany, UK, Italy, Russia, Spain, China, India, Australia and New Zealand.
$22.6 billion…Amazon spent $22.6 billion on R&D last year.
$3.4 billion…Payments technology company Verifone is to be acquired by an investor group led by Francisco Partners and including British Columbia Investment Management Corporation, in a deal valued at approximately $3.4 billion.
£4.5 million…Location intelligence startup, Geoblink, has completed a £4.5 million funding round involving Elaia Partners and Nauta Capital.
96% also say that AI will have a positive effect on customer-engagement in their organisation, while 45% believe that personalisation is where the biggest gains will be made. Feefo surveyed 100 senior IT decision makers. 61% are using, or will use, AI for customer service analysis and intervention. 46% stated their organisation is using or plans to use it to provide personalised summaries of online reviews, with 100% in the accommodation and food sectors planning to implement AI in this way.
500…There is considerable buzz around AI, but many consumers are against retailers tapping into it, according to SAS research. This surveyed 500 Americans, with a lack of human interaction the top reason respondents cited for feeling uncomfortable with the technology. Data privacy is also a concern. Only a third of respondents were at all confident that their personal data used for AI was being stored securely.
$5.1 trillion…The top ten Asian convenience retailers are set to grow 6.6% a year to 2022 by $5.1 trillion, according to IGD. It anticipates that convenience will be the fastest growing bricks and mortar channel in Asia over the next five years, resulting from both retailers expanding their networks and consumers changing their shopping habits.
4,083…The number of new High Street stores opening in 2017 fell to 4,083, from 4,534 in 2016, according to research by the Local Data Company (LDC) for PwC.
£1.13 billion…Asos has posted a 10% rise in half-year profits to £29.9 million. It also reported retail sales of £1.13 billion for the six months to 28th February, up 27% compared to the same period in the previous year. Whilst its site attracted more than a billion visits for the first time.
2,000…Shop Direct is to close distribution centres in Shaw, Little Hulton and Raven, Greater Manchester, putting nearly 2,000 jobs under threat. The news came alongside the online retailer announcing an automated, 500,000 square foot distribution and returns centre in the East Midlands.
45%...of shoppers would spend more online if they had access to visualisation technology, according to research by PushON involving 1,000 people.
50%...Middle Eastern bank, Emirates NBD, is to offer its debit and credit cardholders a 50% rebate on shipping for purchases at MallfortheWorld, which allows customers in over 100 countries to buy products from 250-plus UK and US retailers.
60%...The Works reports that, by automating its warehouse operations, it has increased its productivity by 60% and is set to continue its e-commerce growth.
