Change at the top for Ocado Solutions: RTIH’s 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 AutoStore, Ocado Group, Lacoste, Emperia, and Getir.
1. AutoStore to stump up £200 million as it resolves retail technology legal battle with Ocado Group
Norwegian robotics specialist AutoStore is to pay £200 million to British online grocery retailer and tech supplier Ocado Group as part of a deal to settle all outstanding patent litigation claims.
Both companies licence their technology to retailers and had been involved in legal battles to defend their intellectual property.
They are now able to use and market all their own existing products without challenge.
AutoStore will pay £200 million Ocado in instalments over a two-year period. No reason was given for this payment.
The agreement does not allow for collaboration, technology support between the companies, or access to actual products.
It does, however, grant access to both the companies to certain portions of each other's patent portfolios for them to use or manufacture their own products.
2. Let's not do this! Retailers see the funny side as Twitter rebrands to X and bins iconic bird logo
Unless you’ve been living under a rock these past few days, you’ll know that Twitter has rebranded to X as part of Elon Musk’s plan to create an “everything app” incorporating audio, video, messaging, payments and banking.
The, erm, colourful tech billionaire, who took over the platform in October 2022, replaced the famous blue bird with a new logo on Monday, and redirected the domain X.com to Twitter.com.
The move has divided opinion, with Musk’s legion of fanboys as per usual labelling him a genius, and others poking fun at the decision to junk the one thing Twitter still had going for it.
The latter group included a number of retailers. Click here to see some of our favourite retail takes.
3. RTIH gets physical as we publish the latest issue of our retail technology magazine
The fifth issue of Retail Technology Innovation Hub (RTIH) magazine is now available.
This edition focuses on physical stores in a post-Covid world.
Download the magazine here.
Within its pages, you will find a rundown of the top ‘future of bricks and mortar retail’ tech launches and deployments from the first six months of the year, including Walmart, Asda, A.S. Watson Group, Amazon, Aldi, EE, Puma, and Coach.
In addition, we ask: is checkout-free retail's next to next normal?
Or is the constant drive by retailers to innovate via autonomous technology deployments failing to deliver what their customers want and need?
Be sure to check out an article by Ron Delnevo, Chair of the UK Payment Choice Alliance, who argues that cashless autonomous checkout shopping should not be the way of the future.
“Cash is the only method that always works; every retailer has experienced card and digital downtime – cash never goes down,” he states.
Finally, don’t miss regular contributor Mike Cadden’s latest piece for RTIH, in which he discusses how the store should be at the centre of post-Covid hybrid retail strategies.
“Human beings are intrinsically social animals, as the cliché goes, “people buy from other people” and there has certainly been a desire for customers to return to retail as a personal experience, to get back that experiential element of the consumer journey. We’ve already seen that many shoppers are not happy with the drive to convenience at all costs in-store,” he writes.
“They have the option of uber convenience online if they want it. What the return to physical retail is showing is that consumers want something more from their (mainly) hedonic shopping experience, they want a connection, an experience.”
4. Connecting the dots between virtual and physical retail: Lacoste launches new summer themed experience, developed by Emperia
Emperia has announced the launch of Lacoste’s new summer virtual store.
Containing elements exclusively available to Le Club Lacoste and its UNDW3 (Web3) members, the brand says it is aiming to “create a deep sense of community and shopper loyalty appreciation by offering a unique retail experience that extends beyond its physical stores”.
Strolling from the beach and straight into the crocodile mouth, shoppers will be able to explore Lacoste’s latest summer collection of clothes, shoes and accessories.
A short elevator journey leads the users to an outdoor space, featuring additional product offering, all in a pool deck setting that overlooks the beach.
Throughout the experience, visitors will be able to explore a crocodile scavenger hunt that leads them to an underwater VIP space, accessible exclusively to Le Club Lacoste and UNDW3 members, unlocked by an e-mail login or a Lacoste NFT.
5. Luke Jensen set to step down as CEO at retail technology big hitter Ocado Solutions
Ocado Group reports that Luke Jensen has notified it of his intention to retire and will step down from the board as Executive Director and CEO at Ocado Solutions with effect from 30th September to focus on external non-executive director positions.
He has been Ocado Solutions CEO since 2017 and a member of the board since 2018.
John Martin, current Non-Executive Director at Ocado will be appointed as CEO at Ocado Solutions on 1st September, allowing a handover from Jensen.
As a result, Martin will cease to be a member of the board and will step down as Chair of the Audit Committee and as a member of the People Committee.
6. Arrivederci: Rapid grocery delivery firm Getir plans withdrawal from Spain, Italy, and Portugal
Cash strapped quick commerce venture, Getir, has announced that it intends to withdraw “in an orderly manner” from Spain, Italy, and Portugal.
At the same time, it is finalising a funding round and will continue to operate in the UK, the US, Germany, the Netherlands, and Turkey, which generate 96% of the Turkey-based company’s revenues.
In a statement issued to the media, it said: “Our withdrawal from these three markets will allow us to focus our financial resources on existing markets where the opportunities for operational profitability and sustainable growth are stronger.”
“Getir is very grateful for the hard work and dedication of all its employees in Spain, Portugal and Italy.”
According to an article published earlier this month by Sky News, the capital injection will be led by Mubadala, the Abu Dhabi sovereign wealth fund, although it is expected to involve a smaller sum than the $500 million reported several months ago.
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