RTIH brings you the retail technology week in numbers
Do you like numbers? Do you like retail systems news? Then this is the article for you. Including Klarna, BrewDog, The Body Shop, Adyen, Ikea, and Zippin.
100…Standard AI and Chartwells Higher Education, a division of Compass Group, have announced an expanded partnership that will bring 100 autonomous retail experiences to higher education institutions in the US.
In 2020, Chartwells Higher Education was the first company to retrofit an existing retail environment using Standard AI’s autonomous platform, enabling university students to walk in, select their items, and go on their way without having to wait in a checkout line or scan barcodes.
$200 million…Wayflyer has secured a $200 million (plus $53 million mezzanine) debt financing facility from Credit Suisse.
The venture, which earlier this year hit unicorn status as it announced a Series B funding round of $150 million, provides e-commerce businesses with a range of financing and analytics solutions.
It says it will use the additional debt facility to quickly provide funding to e-commerce businesses, helping them fuel growth, improve cashflow and drive sales.
Wayflyer will also be able to improve liquidity and support its ambition to offer the most competitive rates to its customers, in the US, and Western Europe.
25…Just Eat and Booker Wholesale have partnered to offer delivery to thousands of Symbol group convenience stores in the UK.
Operators of Londis, Premier, Budgens and Family Shopper will be able to offer customers a range of fresh food, everyday essentials, drinks and tobacco delivered to the door, within 25 minutes.
53% of over 54 year olds find SMS from brands useful, exactly the same percentage as the number of their Gen Z counterparts (aged 18-24), according to research by Yotpo.
700…Trove reports that its recommerce technology is now present in 700 bricks and mortar stores in the USA.
Arc’teryx, Eileen Fisher, Levi’s, Lululemon, Patagonia and REI are among the companies now offering their customers a convenient way to trade in items at stores.
1…Working with Coca-Cola and Dave & Busters, Zippin has launched what is pitched as the first in-restaurant checkout-free store in Hollywood, Florida.
The Game & Go location is stocked with a variety of food and Coca-Cola beverages to offer Dave & Buster’s gamer customers quick snack options in addition to stopping by the bar or sitting down for a meal.
1…Grupo Éxito has become the first grocery retailer in Colombia to adopt scalable self-checkout technology from Toshiba Global Commerce Solutions.
Between the end of 2022 and early 2023, consumers will find a new self-checkout experience at its stores across the company’s banners, including Éxito, Carulla, Surtimax and Super Inter.
6…The next UK Prime Minister needs to urgently address the cost of living and energy crises and their impact upon pubs, bars, restaurants, says James Watt, BrewDog CEO and Co-Founder.
The beer big hitter recently celebrated the opening of its biggest ever bar, in Waterloo, London.
At the same time, however, it is closing six pubs due to soaring energy costs.
In a LinkedIn post, Watt said: “Waterloo was amazing, but reality is biting – Liz Truss/Rishi Sunak (both of whom are currently battling it out to be the next PM) please stop the charade.”
£1.2 million…Ryft, a PSD2 compliant payments system firm, has raised a seed round, led by SFC Capital.
Additional investors include the ex-founder of Shutterstock and the founder of LoveFilm.
This brings Ryft’s total funding to date to £1.2 million.
Ryft enables automated next day payouts for marketplace businesses and their merchants, for a single flat fee per transaction.
Think Stripe Connect without the high fees and lengthy payout wait times, the startup says.
17…StoreSpace software, from retail planning specialists CADS, is sponsoring a major category at RTIH’s annual retail technology innovation awards.
The event celebrates trailblazing retail technology across the globe. Honouring both rising startups and retail giants across 17 categories, it shines a spotlight on the best in the industry.
“We’re delighted to sponsor the Bricks and Mortar category at these industry awards which mark the technological achievements of many leading retailers. We’re particularly honoured to sponsor the category which recognises the potential of technology in physical retail spaces,” says Guy Moates, Director at CADS.
£700,000…The Body Shop customers have raised over £350,000 for United Nations High Commissioner for Refugees (UNHCR), through donations at the retailer’s online and in-store checkouts.
Adyen enables this through its Impact product.
All donations were matched and together both companies have raised over £700,000 for people affected by the war in Ukraine.
The Body Shop has enabled customers to give across all of its e-commerce sites as well as over 750 stores globally. Adyen processes the transaction, ensuring that 100% of the donation amount goes directly to the chosen charity.
2…Ingka Group, the largest Ikea retailer, is opening its first two planning studios in Los Angeles as it looks to get closer to customers in that part of the USA.
On Wednesday, Ikea Arcadia in the Westfield Santa Anita Shopping Mall, welcomed its first customers, two days after Ikea Long Beach opened its doors in the Long Beach Towne Center.
These will focus on providing inspiration and smart home solutions for city living.
£497 million…Buy now, pay later firm, Klarna, this week reported an operating loss of 6.17billion Swedish crowns (£497 million) for the first half of 2022, compared to 1.76billion crowns in the same period last year.
The FinTech blamed this on rapid international expansion, higher credit losses in new markets, and rising staff costs.
Klarna last reported a profit four years ago before embarking upon an ambitious growth strategy.
However, it has been hit by a slowdown in consumer spending amid soaring rates of inflation, while facing a looming regulation of buy now, pay later products.
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