The retail technology week in numbers
13 French exhibitors will make up the only national pavilion (stands F200 and F208) at Retail Business Technology Expo (RBTE), set to take place in London on 2nd and 3rd May.
100 million…Amazon Prime now has more than 100 million members, CEO Jeff Bezos revealed in his annual letter to shareholders.
1,000…The Home Depot will this year hire around 1,000 new technology professionals in Atlanta, Austin and Dallas. These will support initiatives related to the retailer’s $11.1 billion, three-year strategic investment plan.
This has been set up with Nick Brown, formerly a partner at 14W Venture Partners, and will invest in “early–stage opportunities at the intersection of retail and technology in Europe and the US”. It has closed its first fund of $75 million which includes investments across the beauty, wellness, food and beverage, lifestyle and fashion sectors.
450…Marks and Spencer is closing its Hardwick distribution centre on Hardwick Grange, near Warrington, putting 450 jobs at risk. It has also appointed DHL to run its new south east DC at Welham Green, Hertfordshire, which is set to open in 2019.
£18 billion…UK retailers are losing out on more than £18 billion in potential sales each year, as British shoppers make a habit of website window-shopping, according to Barclaycard research.
£7.4 billion…Primark has solidified its position as the bricks and mortar retailer defying current convention that online is the answer to all woes. That’s the view of Catherine Shuttleworth, CEO and Founder, Savvy Marketing. She made the claim as Primark's owner, Associated British Foods (ABF), reported that revenue was up 3% to £7.4 billion in the 24 weeks to 3rd March.
$27.2 billion…The artificial intelligence (AI) in retail market is set to hit $27.2 billion by 2025, up from $712.6 million in 2016, according to a report by Research and Markets.