The five most important retail tech news stories of the week

It’s Friday, it’s almost the weekend, so let’s kick back and reflect on another eventful week for the retail systems space. Here's your briefing on the most important stories from the past few days.

1. JD.com taps digital yuan for staff payments

Chinese e-commerce giant JD.com has been using China’s Digital Currency Electronic Payment, or DCEP, system to pay the salaries of some employees.

The digital currency is backed and overseen by the country’s central government.

JD made its announcement in a blog post while announcing its participation in the one-year DCEP trial show at the fourth Digital China Summit in Fuzhou.

This revealed that it has also tapped the DCEP solution in business-to-business payments to partner firms as well as cross-bank settlements.

2. Justin King joins Snappy Shopper as senior advisor and investor

Former Sainsbury’s CEO Justin King has taken a “significant” stake in grocery delivery app Snappy Shopper.

He is also set to join the Snappy Group’s board as Non-Executive Director following a recently launched Series A funding round.

Snappy Group is formed of two businesses: Snappy Shopper and Hungrrr.

3. Overstock follows record 2020 with strong Q1 2021 numbers

US online retailer Overstock has announced its Q1 2021 earnings, with total net revenue hitting $660 million, an increase of 94% year-over-year.

4. Woolworths Group enlists Knapp for automated online fulfilment centre

Woolworths Group has announced plans for its first automated customer fulfilment centre (CFC) in Auburn, New South Wales as it looks to better serve the online grocery needs of Western Sydney customers.

If approved by the NSW Government, the retailer will build the facility in partnership with Knapp, whose automation technology will help personal shoppers pick and dispatch up to 50,000 deliveries a week. 

5. Amazon In-Garage Grocery Delivery service expands across the US

Amazon’s Key by Amazon In-Garage Grocery Delivery service is expanding to everywhere grocery delivery from the e-commerce giant is available, covering more than 5,000 US cities and towns. 

Originally launched in five cities last November, the offering enables Prime members to have their Amazon Fresh and Whole Foods Market groceries dropped off inside their garage.

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Retail technologyStaff WriterRetail technology, JD.com, China, Digital yuan, Payments, Justin King, Snappy Shopper, Snappy Group, Overstock, Online retail, Woolworths, Knapp, Online delivery, Amazon, Amazon In-Garage Grocery Delivery service, Grocery deliveryComment