The six biggest retail technology news stories of the week
It’s Friday, the week is almost done, so let’s kick back and reflect on an eventful start to the year for the retail systems space. Here's your briefing on the most important stories from the past five days, including Tesco Whoosh, Aldi UK, AiFi, Amazon Style, and the Retail Technology Show.
1. AiFi tech powers new Aldi UK checkout-free concept store
Discount retailer Aldi UK has launched its first checkout-free location.
The Aldi Shop&Go concept store in Greenwich, London opened this week for public testing, having been tested by staff members in recent months.
Situated on Greenwich High Street, it enables customers to complete their shop without scanning a single product, or having to go through a checkout.
They can download the Aldi Shop&Go app, which will allow them to enter the store, pick up their items, and then walk out when they have completed their shop.
Once a customer leaves the store they will then be automatically charged via their selected payment method and a receipt will appear in the app.
The system, provided by AiFi, uses specially positioned cameras.
Those people wishing to buy alcohol, or other Challenge 25 products, will be able to use facial age estimation technology, provided by Yoti, to authorise their purchase.
2. Amazon Style fashion store set to open in 2022
Amazon will open its first ever physical fashion store later this year, and it will be tech centric (natch).
"We wouldn't do anything in physical retail unless we felt we could significantly improve the customer experience," says Simoina Vasen, a Managing Director.
The 30,000 square feet Amazon Style store will be situated at The Americana at Brand, a shopping destination in greater Los Angeles.
Using the Amazon Shopping app, customers can send items to a fitting room, where they can use a touchscreen to browse more options, rate items, and request more sizes or styles that are delivered to the room.
Machine learning algorithms, meanwhile, produce tailored, real-time recommendations for each customer as they shop.
3. E-commerce big hitters JD.com and Shopify join forces
Chinese online retailer JD.com has formed a strategic partnership with Canada-based Shopify.
The e-commerce giants are aiming to help global brands tap China’s huge appetite for imported goods, and also to aid Chinese merchants as they sell overseas.
4. Retail Technology Show 2022 - registrations open this week
Registrations for Retail Technology Show, a new event organised by Nineteen Group, are now open.
Taking place at London’s Olympia on 26th-27th April, the event’s mission is to “bring together the brightest minds in retail and future forward technology providers”.
5. Tesco Whoosh rapid grocery delivery service set for major expansion
Tesco’s one-hour delivery service Whoosh will be available from at least 600 of the grocery giant’s stores by the end of next year.
“It is a mission that customers now want and we’re clear on that,” CEO Ken Murphy said on Tesco’s Christmas trading call last week.
“Whether it’s incremental is hard to tell, but it’s somewhere we need to be and it needs to fit in with our overall proposition so customers can tap in to our wider strategy and are able to buy from us wherever and whenever.”
6. Warehouse automation tech firm Exotec raises $335m Series D
Warehouse robotics specialist Exotec has secured $335 million in Series D funding at a $2 billion valuation.
Exotec has secured $477 million in funding to date.
The growth equity business within Goldman Sachs Asset Management led the Series D round with follow on investments from 83North and Dell Technologies Capital.
Exotec says it will use the funds to continue to launch large scale deployments in North America, Europe, and Asia for global brands.
It also plans to hire 500 new R&D engineers by 2025 to accelerate the development of its warehouse automation technology.
