RTIH presents the retail technology week in numbers
Do you like numbers? Do you like retail systems news? Then this is the article for you. Including Macy’s, Shein, Farfetch, Neiman Marcus Group, Gopuff, Monoprix, and Iceland.
$330 million and $1 billion…Grover, a consumer tech subscription platform, has raised $330 million in equity and debt funding, bringing the company’s valuation to over $1 billion.
14…Primark has unveiled a new website, featuring thousands of products from across its ranges, as well as a fresh design, enhanced navigation and a new feature that allows customers to check stock availability in their local store.
This is launching first in the UK, before rolling out to Primark’s 13 other markets in the coming months.
70…Waitrose and Deliveroo are expanding their rapid grocery delivery tie up by adding more than 70 new Waitrose locations.
Deliveroo customers will now be able to order Waitrose products for delivery in as little as 20 minutes from over 220 locations across the country - more than two thirds of the retailer’s stores.
700 and 250…Worldline has been chosen by Monoprix to roll-out its omnichannel payment platform across all 700 of the retailer’s stores in 250 towns in France.
The project includes its six retail chains: Monoprix, monop’, monop’daily, monop’beauty, monop’station and Naturalia.
$584 million…Macy’s has announced plans to open a new fulfilment centre in China Grove, North Carolina in 2024 to “meet the growing demands of its omnichannel business”.
The 1.4 million-square-foot facility, with automated direct-to-consumer fulfilment capacity, will employ nearly 2,800 workers when fully operational. Macy’s will invest approximately $584 million in the project.
150,000…Jisp says that its augmented reality vouchering system, Scan & Save, has achieved 150,000 scans on shelf edge barcodes across 61 Nisa UK stores.
$100 billion… Fast fashion giant Shein hit a $100 billion valuation this week, making it the third most valuable startup in the world after Elon Musk’s SpaceX and ByteDance.
The Chinese firm secured between $1 billion and $2 billion from investors including General Atlantic, Tiger Global and Sequoia Capital China.
It valuation now tops the combined value of Zara owner Inditex and H&M, the two biggest clothing companies in the world.
92%…Research released by Snap highlights the trends that Gen Z are leading in shaping online and retail culture.
A global study, of nearly 5,000 Gen Z carried out in partnership with Crowd DNA, reveals a significant shift toward this cohort embracing immersive shopping experiences.
Visual communication is key, with 92% of UK respondents saying they have used some form of this when messaging friends, and three in five stating that they are using it to get a more personal connection.
$70 million…P2C software company, Productsup, has announced a Series B funding round of more than $70 million (€65 million) led by Bregal Milestone and Nordwind Capital.
The investment will enable it to advance product development, target merger and acquisition opportunities, strengthen its partner network, and expand to new markets.
£200 million…Online fashion retailer Farfetch is to invest up to $200 million in Neiman Marcus Group (NMG).
The announcement comes as the latter, which filed for bankruptcy in the wake of the Covid-19 pandemic, looks to boost its online business.
20…Rapid delivery big hitter GoPuff has inked a deal to distribute challenger soft drinks brand SodaFolk as both firms look to woo more younger shoppers.
The service is available in 25 key UK university cities and promises to deliver in under 20 minutes, with around 50% of GoPuff’s British shoppers being students.
3…Last month, we reported that Iceland was rolling out its Swift c-store format, and had decided upon London as the next location.
Launched as a single store pilot in Newcastle last year, Swift will extend to four more stores in London over the next few months, with the first one located in Wembley and a second one, in Hounslow, opening its doors this week.
£40 to £35 and £25 to £20…Iceland says that it is opening thousands of free food delivery slots for families on tight budgets, and cutting the thresholds of its free delivery service from £40 to £35 for online and from £25 to £20 for in-store.
The move comes as many Brits face a cost of living crisis, with the likes of energy, broadband, mobile and water bills all rising significantly, alongs with council tax and national insurance contributions.
450…Secret Sales has launched in the Netherlands and Belgium, as the first phase of its European rollout begins.
An initial 450 international and regional hero brands are partnering with the e-commerce platform to sell non full price inventory.
18% of UK adults now own cryptocurrency, according to research from Cameron and Tyler Winklevoss founded crypto platform Gemini.
67% of retail and fashion business leaders say that significant sustainability focused events such as COP26 and the Climate Red report have changed their thinking on tackling sustainability, according to research from K3 BTG.
At the same time, however, only three in ten have placed environmental sustainability in their top two IT budget priorities.
