The retail technology week in numbers
10…RTIH has this year been bringing you a series of ’10 promising retail tech startups’ listicles (all of which were recently rounded up here). These articles have proved to be so popular, we had to bring another top 10. So, dear readers, be sure to check out these disruptive ventures…
150...Argos is set to grow its technology team, adding 150 new roles, most of which will be based at its London Victoria tech hub.
$37 million...Amplience has secured $37 million in a Series C funding round led by Octopus Ventures and with participation from Columbia Lake Partners.
100…The owner of discount retailer Poundworld, American private equity firm TPG Capital, is gearing up to announce a Company Voluntary Arrangement (CVA). This could see it axe up to 100 of its 355 stores, with hundreds of jobs being lost as a result, sources close to Poundworld claim.
2,505…The US public doesn’t share President Trump’s negative views on Amazon, according to GlobalData research.
While there are some voices of doubt, most dismiss the view that Amazon has monopoly power or is competing unfairly. Two-thirds of the 2,505 people surveyed believe there is no need for an investigation into its dominant position.
58.7%...Despite a well-developed electronic payment infrastructure, cash remains hugely relevant in Singapore with 58.7% of transaction volume made at PoS terminals in 2017, according to GlobalData. In addition, more than 75% of transactions made at hawkers and wet markets are carried out in cash, due to the high cost associated with PoS terminals.
5…The John Lewis Partnership has announced that its retail technology innovation programme, JLAB, will be expanded in 2018. For the first time in its five-year history, the initiative will run throughout the year rather than as a one-off 12 week programme.
£579.8 million…Pureplay fashion retailer Boohoo has reported a 97% rise in revenue to £579.8 million in the year to March, with pre-tax profit up 40% to £43.3 million. The recently acquired Pretty Little Thing played a key role here, registering a 228% rise in sales to £181.3 million.
1,400…Traditional shopping experiences are no longer enough. Consumers want every interaction from retailers to be quick, personalised and informative whenever and wherever they are, according to Avionos research involving more than 1,400 people.
Sign up for our free retail technology newsletter here.