Including Farfetch, Worldpay from FIS, and Lolli: 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 JD Logistics, Lolli, Trigo, GreyOrange, HMV, Be.EV, Decathlon, and the latest RTIH Top 100 Retail Technology Influencers List.
We’ll be bringing you the people who made a splash in 2023 and are set for a barnstorming 2024.
RTIH is scouring the retail technology world to find the most influential figures for this comprehensive list of people and trends that shape the industry and help drive it forward.
We’re living in unprecedented times.
The Covid-19 outbreak and cost-of-living crisis have driven a seismic change in shopping habits.
Whether it be augmented reality, artificial intelligence or advanced data analytics, we are seeing retailers taking innovative technologies and finding ways to use them to make checkout processes smoother, shelves smarter, and shopping experiences more exciting.
Which is where the RTIH Top 100 Retail Technology Influencers List comes in.
Such disruption requires new ways of problem solving and thought leaders who can both evangelise and execute on the likes of digital transformation and omnichannel success.
HOW DO WE IDENTIFY THE TOP 100?
We use a variety of sources to select our top 100, including feedback from industry observers, research within our own networks, direct or third party nominations via our website, and social media tools.
In addition to social presence, we also take into account award winners, event speakers, books published, media appearances, and people building innovative companies, solutions etc in the retail space.
Download the 2023 list in pdf format here.
Or read via Issuu.
👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
3…Trigo, a provider of autonomous retail technology, including frictionless checkout, to the likes of REWE, Auchan, Tesco, Aldi and Netto, will be exhibiting at NRF 2024 next month, on booth 3112.
The company will announce an expansion of its partnership with REWE, which will see the opening of three new large format autonomous supermarkets in early 2024.
It will also announce details of new partnerships that will launch the company into new geographies and a new retail sector outside of grocery for the first time in 2024.
NRF 2024 will also serve as the launchpad for two major upgrades to Trigo’s technology platform.
$135 million…GreyOrange has announced the first close of its Series D funding, securing $135 million.
This was led by Anthelion Capital (formerly Cowen Sustainable Investments).
“Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimises how retailers move their goods across their entire supply chain,” says Vusal Najafov, Co-Founder, Anthelion Capital.
"Their capability to improve operational efficiency in various settings and their innovative approach in transforming inventory into a more productive asset in warehouses and retail spaces are key reasons for our excitement in leading this funding round."
The funding round also included existing investors such as Mithril, 3State Ventures, and Blume Ventures.
This found that 60% of brands and retailers that have invested in CGI technology identified increased sales conversion as the primary benefit.
The report builds on last year’s research, CGI and AI - Paving the Path for Next Generation Imagery for Retail, and indicates retailers continue to struggle with developing product visuals, with over 80% of respondents saying they face challenges in producing and managing product visuals, and 45% citing high costs as the top challenge, up 3% from last year.
Coresight Research surveyed 190 prominent brands and retailers in the US and Europe, with annual revenues spanning from $50 million to over $5 billion.
1…Be.EV has partnered with sporting goods provider Decathlon to provide it with ultra-rapid EV charging at a number of stores across the UK.
The deal is Decathlon UK’s first partnership with a public charging network.
Sites are already in the pipeline across various stores in the UK, with Decathlon’s Stockport site being first across the line to receive a charging hub in April 2024. The store is one of the largest in the UK - spanning over 52,000 sq ft - and 16 ultra-rapid charging bays will be installed.
Decathlon Stockport receives up to 20,000 visitors per week, and is located minutes from the M60 - which sees an average of over 83,000 vehicles a day. Stockport has close to 2.700 registered electric vehicles.
£10 million…Worldpay from FIS has enabled UK merchants to raise £10 million for charities through its integration at the PoS with digital charity box Pennies.
The pair have been collaborating since 2011, providing a way for consumers to donate to charity when making a purchase by card and digital wallet.
The Pennies integration is in use with 14 of Worldpay’s largest merchants across the UK.
Corporate orders - mainly rewards for staff - have made up half of the sales of Scotland Loves Local Gift Cards across the country throughout 2023.
Cards can be spent with both national retailers like Aldi, Boots, Co-op and M&S, plus independent businesses.
The figure is on top of about £14 million worth of spending through the gift cards after they were used by six local authorities across Scotland to support low income households in late 2022 - and, in turn, businesses in their region - through the cost of living crisis and longer-term recovery from Covid-19.
The gift cards are an extension of the wider Scotland Loves Local initiative, the drive spearheaded by Scotland’s Towns Partnership (STP) and supported by the Scottish Government for people to build stronger, more sustainable communities by choosing local - putting the shops, services and attractions in their area first.
$8 million…Lolli, a Bitcoin and cashback rewards company, has announced the close of an $8 million Series B round led by BITKRAFT Ventures, with participation from Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, Newman Capital, 2 Punks Capital, MZ Web3 Fund, Digital Currency Group, Company Ventures, The Spartan Group, and Wagmi Ventures.
The raise includes a return commitment from earlier investors including Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, MrBeast’s Night Media, and Animal Capital.
23…JD Logistics, the logistics arm of Chinese e-commerce giant JD.com, has announced the launch of its international express delivery service.
Currently available in Shenzhen and Guangzhou, the expansion will initially cover 23 countries across North America and Europe, facilitating one-way deliveries from China.
Looking ahead, JD Logistics plans to extend the reach of the service, expanding its availability throughout China.
Leveraging the company’s network, customers in China can book doorstep pick-ups through the JD Express mini programme on WeChat and expect one-hour pick-up by JD’s in-house couriers. Real-time parcel tracking is also available.
48% of British consumers admit to having bought, used and then returned an item. While there is some confusion as to what constitutes fraud, a third of people have admitted deliberately sending back item against a retailer’s returns policy, according to research from ReBound, and Censuswide, involving 2,016 respondents.
Despite 84% of consumers saying they have not and would not commit fraud, a large number are unclear on what actually qualifies. 31% think using an item then returning it as unused doesn’t count as fraud, although 57% do think that it’s unethical.
This comes as the National Retail Federation (NRF) estimates that 10% of the value of returned merchandise is lost to fraud, at a time when the industry cannot afford it.
Continue reading…