Reviewing the retail technology space in November
RTIH takes a look back at the retail technology space during November.
Good month for…
The total transaction value of smart home payments will exceed $164 billion in 2025, from $22 billion in 2020, according to Juniper Research.
Autonomous delivery startup Nuro raised $500 million, giving it a post-money valuation of $5 billion.
UK online retailers enjoyed a strong start to November, with sales growth up 61% during the first week, the highest year-on-year rate since June and fourth highest this year, according to IMRG research.
Alibaba Group reported that orders on its e-commerce platforms during the Singles’ Day shopping extravaganza hit a record 498.2 billion yuan ($74.1 billion).
UK-based online marketplace, OnBuy, reported a record breaking week with almost 1.5 million users browsing its site. This resulted in nearly £2.75 million in sales between 1st-8th November.
E-commerce fraud prevention venture, Forter, raised $125 million in Series E funding, giving it a valuation of over $1.3 billion.
German startup SellerX closed a seed round of $118 million.
Shopify announced record setting Black Friday sales of $2.4 billion from the one million plus independent and direct-to-consumer brands on its platform.
Bad month for…
Black Friday saw UK retail footfall down 77% year-on-year, as most non-essential stores remained closed during a second coronavirus lockdown, according to ShopperTrak data from Sensormatic Solutions.
The European Commission filed antitrust charges against Amazon, accusing it of using business data to gain an unfair advantage over independent sellers operating on its platform.
The charges follow a two-year investigation into Amazon's dual role as a marketplace as well as a vendor.
The Commission has also opened a second formal antitrust investigation into the possible preferential treatment of Amazon's own retail offers and those of marketplace sellers that use the e-commerce giant’s logistics and delivery services.
Walmart cut ties with Bossa Nova Robotics, which produces shelf-scanning inventory robots.
The United States International Trade Commission (ITC) announced plans to launch a formal investigation into Ocado, which could prevent its robots and other technologies entering the country.
It will look into Ocado’s Smart Platform (OSP) technology based on allegations of infringement of numerous patents from Norwegian firm AutoStore.
Also this month…
Tony Hsieh, the co-founder of online shoe and clothing retailer Zappos, died. He was 46.
Co-op expanded its use of autonomous home delivery in partnership with Starship Technologies.
It plans to use around 300 of Starship’s robots by the end of 2021 as it looks for more towns and cities to operate autonomous deliveries after launching in Milton Keynes, and now Northampton.
Iceland marked its 50th anniversary with a documentary charting the rise of the UK retailer from its first store in Oswestry.
Ian Rogers is transitioning from Chief Digital Officer to an advisory role at LMVH, and joining French crypto hardware and software maker Ledger as Chief Experience Officer.
Retail technology big hitter Aptos hired Pete Sinisgalli as CEO.
He will head up the now combined Aptos and Revionics organisation following the former’s acquisition of the AI-powered price optimisation venture in September.
Tesco ramped up its Net Zero ambitions, including an all-electric delivery fleet.
Its first electric grocery vans will begin deliveries to customers in London this month and the entire fleet will be electric by 2028.
Alibaba Group confirmed media reports about a tie up with online luxury fashion platform Farfetch.
Both it and Swiss group Richemont will invest $600 million ($300 million each) in Farfetch and $250 million each for a 25% stake in a newly formed Farfetch China joint venture.
Tower Records returned to action in the US as an online store.
The retailer closed its stores 14 years ago and declared bankruptcy.
Asda hired former Morrisons Chief Technology Officer Anna Barsby as interim Chief Digital and Technology Officer, following the grocery giant’s sale by Walmart to the Issa brothers.
63 UK retailers, including Co-op, Iceland Foods, John Lewis Partnership, M&S and Sainsbury’s, committed resources to support the BRC Climate Action Roadmap.
This aims to bring the retail industry and its supply chains to Net Zero by 2040.
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