The five biggest retail technology news stories of the week

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

1. Amazon picks Canary Wharf for latest London Amazon Fresh store

Amazon has opened an Amazon Fresh location in Canary Wharf, London.

It’s the fourth such convenience store to feature Just Walk Out Shopping tech in the UK, which was pioneered at the Amazon Go offering in the States.

The other three are in Ealing, Wembley Park and White City.

2. Royal Mail reports profit boost as Covid powers online delivery boom

Profits at Royal Mail have soared as the coronavirus pandemic drove a surge in demand for online deliveries.

Pretax profits jumped to £726 million in the 12 months to the end of March, up from £180 million the previous year.

Adjusted operating profit, meanwhile, rose to £702 from £325 million.

We have announced our Full Year results for 2020-21. Read more about our performance here: https://t.co/PQNy2aUO5L pic.twitter.com/yuSWLutg6w
— Royal Mail News (@royalmailnews) May 20, 2021

3. Shein becomes most downloaded shopping app Stateside

Fast fashion e-commerce venture Shein has moved past Amazon to become the most downloaded shopping app on iOS and Android in the US, according to data from App Annie.

The China-based startup, which is reportedly valued at more than $15 billion, mainly focuses on women's wear, although it also offers men's apparel, children's clothes, accessories, shoes, bags and other fashion items.

4. Shopify and Google announce online shopping expansion

As part of their efforts to take on Amazon in the e-commerce space, Google and Shopify have boosted their partnership by making it easier for the latter’s 1.7 million merchants to reach shoppers across Google Search, YouTube, Shopping and Lens.

We’re making it easier than ever for merchants to get discovered on @google across Search, YouTube, Shopping and Lens with just a few clicks.

Find out more about our announcement at @googleio today and Shopify’s Google channel.👇https://t.co/t7rSTPckeM
— Shopify (@Shopify) May 18, 2021

5. Back Market secures £237 million in Series D funding

Back Market, an online marketplace dedicated to refurbished electronics, has announced a Series D round of £237 million led by General Atlantic.

This also had the support of Generation Investment Management, as well as existing investors Aglaé Ventures, Eurazeo, Goldman Sachs Growth Equity and daphni.