The six 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 most important stories from the past five days, including Lowe’s, Walmart, Serve Robotics, Ikea, and Marks and Spencer.
1. Lowe’s teams with NVIDIA and Magic Leap to reimagine store operations
Lowe’s is tapping NVIDIA Omniverse Enterprise to create interactive store digital twins in Mill Creek, Wash,. and Charlotte, N.C.
“We are always looking for ways to reimagine store operations and remove friction for our customers,” says Seemantini Godbole, Executive Vice President and Chief Digital and Information Officer at Lowe’s.
“With NVIDIA Omniverse, we’re pulling data together in ways that have never been possible, giving our associates superpowers.”
2. M&S enlists Tata Consultancy Services for space, range and display project
Marks & Spencer has partnered with Tata Consultancy Services (TCS) to upgrade its in-store space, range and display (SRD) capabilities.
The retailer was facing multiple operational challenges created by a lack of technology investment.
TCS developed and implemented a cloud-based SRD platform using Blue Yonder Category Management and Azure Data Bricks with the aim of optimising store space, improving stock management efficiency, addressing the company’s GSCOP (Grocery Suppliers Code of Practice) ranking and enhancing the customer experience.
3. Grocery retail technology startup Swiftly bags unicorn status
Swiftly has announced a $100 million Series C funding round led by BRV Capital Management, bringing the company's total valuation to more than $1 billion.
This marks Swiftly’s second $100 million financing round in less than six months.
The startup provides bricks and mortar grocers with branded phone apps designed to help retailers gather highly customer data and earn advertising dollars, while shoppers can find what they’re looking for in the aisles, recall past purchases and skip lines by scanning products and paying with their phones.
4. Ikea tackles food waste problem with Winnow AI technology
Ingka Group says that it has reduced food waste by 54% in its Ikea stores.
That translates into more than 20 million saved meals and 36,000 tonnes of CO2e that have been avoided.
This results from more than 20,000 Ikea food co-workers who were trained to use Winnow’s AI technology in their daily routines.
5. Serve Robotics all apologies as delivery robot rolls through crime scene
A Serve Robotics delivery robot has failed to reroute around a police barrier due to human error.
Video of the robot crossing yellow caution tape and rolling through a crime scene in Los Angeles went viral last week.
In a statement posted on Twitter, Serve Robotics said: “While robots are capable of operating autonomously in most circumstances, they're assigned to human supervisors to ensure their safe operation, for instance when navigating a blockage.”
“We respect the important work of law enforcement and are taking steps to ensure our operating procedures are followed in the future.”
6. Walmart makes livestream shopping move with Firework
Firework has signed a partnership agreement with Walmart Connect, a closed loop omnichannel media business of Walmart, to bring livestream and premium shoppable video content to the retail giant’s offering.
“Video and livestream commerce truly works when you put the customer at the centre of the experience, and that’s what we’re doing here,” says Rich Lehrfeld, Walmart Connect’s SVP and GM.
“Our partnership with Firework further underscores how Walmart Connect is committed to evolving our business and expanding our offerings to actively stay ahead of what advertisers need.”
“We’re proud to be able to serve Walmart customers with engaging experiences in the places they already love to shop.”
