The Very Group, Asos, Next, Temu, Shein, Amazon: RTIH rustles up the retail technology week in numbers

Do you like numbers? Do you like retail systems news? Then this is the article for you. Including Simbe, Brightpearl by Sage’s Lightning 50, Checkmate, Sensei, Amazon’s Just Walk Out technology, Walmart, Snappy Shopper, One Stop, Future Stores, OnBuy, Tag Heuer, and Ocula Technologies.

1…There is only one day left to submit your entries for the 2024 RTIH Innovation Awards. 

The awards, sponsored by Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Retail Technology Show 2025, and Business France celebrate global tech innovation in a fast moving omnichannel world.

It's free to enter and you can do so across multiple categories.

Download our handy guide to entering the 2024 RTIH Innovation Awards.

Key 2024 dates:

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.

For all entry related queries, please email our Editor and Founder, Scott Thompson: scott.thompson@retailtechinnovationhub.com

$50 million…Simbe has closed a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives, with participation from Eclipse and Valo Ventures and other existing investors.

Since raising its Series B in July 2023, Simbe has achieved milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors.

The new capital, which brings the total amount raised to over $100 million, will be used to meet demand across retail verticals, expand into new product areas, and continue scaling its solutions to retailers and brands around the world.

£2.13 billion…The Very Group, which operates digital retailers Very and Littlewoods, this week announced its full year results for the 52 weeks ended 29th June 2024.

Very UK revenue increased 0.7% to £1.84 billion (FY23: £1.82 billion), while group revenue declined 1% to £2.13 billion.

Tash Van Boxel, Retail Analyst at GlobalData, says: “The soft growth in its Very UK arm, up 0.7% to £1,836.9 million, did not offset continued double digit declines in its Littlewood fascia (falling 10.7% to £288.4 million).”

“Very UK’s performance has been supported by the continued appeal of Very Pay, with Very Finance revenue rising 3.1% to £435 million in FY2023/24, as finance options maintained appeal among budget conscious consumers.”

“Very also launched its AI tool, which provides automatic personalised product suggestions to make it easier for shoppers to find what they need. This tool will be popular among its core customer base, however, it relies on consumers becoming repeat Very.co.uk visitors so that the technology can learn what they are searching for.”

Growth in Very UK’s largest category, electricals, helped to buoy revenue as sales rose 0.9%, driven by the popularity of computers (up 9.9%) and Apple products (up 8.5%). The continued positive performance in electricals is supported by finance services, with consumers taking advantage of Very Pay to purchase expensive items at a lower upfront cost.

Very UK’s stand out category, toys, gifts and beauty, saw revenue rise 3% as the pureplay’s investment in expanding ranges paid off. Toy sales strengthened on the previous year, up 7.7%, likely bolstered by a strong performance during the golden quarter as consumers shopped for Christmas gifts for children and took advantage of Black Friday promotions.

However, the strongest category in FY2023/24 was personal care, with sales growing 15.5%, supported by strong demand in the UK health and beauty market. Online growth in the health and beauty sector is forecast to continue, anticipated to grow 9.8% between October and December 2024.

Van Boxel comments: “The Very Group must take advantage of heightened demand for the category, with shoppers likely to be seeking gifts for themselves and others across the peak period. Signposting Christmas gift ideas will be key to entice spend during this period, as well as social media marketing campaigns to grow customer awareness to better compete with the likes of Temu, Shein and Amazon, which tend to win out as first port-of-call due to their reputations for low prices.”

“Very UK’s fashion and sport and home categories have not witnessed the same demand, as revenue fell 5.5% and 0.7% respectively. Declines in fashion and sport come despite casual womenswear and premium fashion performing well (up 3.6% and 15.5% respectively).”

“Though Very has added brands to its offer, introducing Oakley and Veja to its sports division, and Seasalt Cornwall and Diesel to fashion, demand has remained muted. Very must focus on introducing more premium players to its offer, with this category showing the highest sustained growth throughout the year.”

“This would also help it stand out from competitors also offering brands and convenient payment methods like Next and Asos, as well as value fast fashion pureplay Shein.”

50…Brightpearl by Sage, a provider of retail operations software, has announced the return of the Lightning 50, a campaign that recognises the fastest growing retail brands in the UK.  

For 2025, the Lightning 50 celebrates the dynamic growth of the UK's retail sector, which reached £462 billion in 2023, with over a quarter of sales driven by online channels. The campaign shines a spotlight on the retailers driving this growth, offering a platform to recognise their success. 

Retailers with an annual turnover between £1 million and £100 million are invited to submit two years of revenue data (2023-2024) for a chance to be featured in the league table of the UK’s 50 fastest growing retail brands. The ranking is based solely on revenue growth. 

“The cost-of-living crisis has posed significant challenges for many, yet we’re still seeing remarkable growth stories in retail,” says Jill Liliedahl, spokesperson for Brightpearl by Sage. “The Lightning 50 celebrates these resilient brands and gives them the recognition they truly deserve.” 

“We encourage any rapidly scaling brand to enter and gain the recognition they’ve earned through their hard work and growth,” Liliedahl adds. 

Winners of the 2025 Lightning 50 will be announced in summer 2025. Retailers can enter here. 

$10 million…Checkmate, a provider of unified ordering solutions for enterprise restaurants, has secured $10 million in Series B funding, led by Tiger Global.

The cash will enable the company to accelerate the adoption of its voice AI and kiosk technologies across the industry.

“With this investment, we’re doubling down on our development of the technologies that are helping restaurants scale their operations, grow digital revenue, and improve efficiency,” says Vishal Agarwal, Founder and CEO at Checkmate.

“We are at the forefront of bringing voice AI to the restaurant space, given our existing network of customers and PoS integrations. With Tiger Global’s support, we will continue leading the charge in transforming the restaurant experience.”

34% and 282%…Mangopay has released new data into clothing sales on pre-loved marketplaces.

Comparing January to June 2023 to January to June 2024, the company, which powers payments for some of Europe's biggest second-hand marketplaces including Vinted and Wallapop, reveals that sales have increased by 34% year on year. Further, compared to the first half of 2022, sales have shot up by over 282%. 

James Butland, Managing Director, UK, at Mangopay comments: “The ongoing surge in marketplace sales underscores a profound shift which has taken place in consumer shopping behaviour.”

“Amid the ongoing cost-of-living crisis and worrying developments in climate change, UK consumers are increasingly choosing to spend their money on pre-owned goods, driven by both financial prudence and a growing commitment to sustainability. As a result they are actively seeking out ways to participate in the circular economy.”  

80…Amazon is expanding Prime same-day delivery to 80+ towns and cities in the UK, including Aberdeen, Middlesbrough, and Plymouth.

Nicola Fyfe, VP, Amazon Logistics UK and Ireland, says: “Delivery is getting even faster for Prime members and we’re on track to deliver at our fastest speeds ever for them globally in 2024, with the number of items delivered same-day in the UK doubling since 2023.”

“We know our customers love being able to order a huge range of products with fast delivery they can count on, and we’re continuing to innovate and invest to accelerate delivery speeds across the country.”

“At the same time, we’re making our deliveries even more sustainable. In 2023, we worked with our delivery partners to deliver 50 million+ packages across the UK and Ireland using zero tailpipe emissions vehicles such as e-cargo bikes, while also improving the sustainability of our packaging.”

“We’ll keep innovating for our customers and working to ensure they can receive faster, more convenient, and more sustainable deliveries wherever they are.”

€15 million…Sensei, a Portuguese startup focused on the autonomous retail technology space, has secured €15 million in a Series A funding round.

Taking the total raised to €21 million, this will enable the company to expand across Europe, particularly in central and northern regions, while also opening what is pitched as the world’s largest autonomous store next year. 

Involving existing investors like Metro AG and Techstars Ventures, the round was led by BlueCrow Capital, with the participation of Lince Capital, Explorer Investments, and Kamay Ventures (the investment arm of Coca-Cola and Arcor Group).

6 and 49…Walmart is integrating prescription medications and general merchandise into one single order for delivery across the US.   

The new offering is now live in six states: Arkansas, Missouri, New York, Nevada, South Carolina and Wisconsin. By the end of January 2025, Walmart's Pharmacy Delivery is expected to be available in 49 states, reaching tens of millions of customers. It is available for both new prescriptions along with medication refills.  

"Our extensive footprint across the nation combined with our deep expertise in pharmacy uniquely positions us to make a profound impact in the communities we serve," says Kevin Host, Senior Vice President of Pharmacy at Walmart U.S.

“We understand that health care is not a one size fits all solution. It’s hyper-local. Each community has unique needs. This new offering allows us to continue serving customers while also giving more time back to our pharmacies for high touch health services.”  

250…Snappy Shopper, a UK-based convenience quick commerce marketplace, has announced the launch of 250 stores nationwide with One Stop.  

Over 250 One Stop locations across England and Wales are now available on the Snappy Shopper platform. 

Mike Callachan, CEO at Snappy Shopper, says: "We are incredibly excited to join forces with One Stop. Our mission has always been to provide exceptional convenience and value to our customers and this collaboration enables us to expand our reach and offer even more choices to communities across England and Wales. Together, we are setting a new standard for quick commerce in the retail industry." 

100…A number of NBA arenas are solving the issue of long lines at concessions with Amazon’s Just Walk Out technology, with eight new checkout-free stores powered by the solution opening at Gainbridge Fieldhouse (home of the Indiana Pacers), Spectrum Center (home of the Charlotte Hornets), Scotiabank Arena (home of the Toronto Raptors), Crypto.com Arena (home of the LA Lakers), and Paycom Center (home of the Oklahoma City Thunder).

These will leverage Just Walk Out’s new multi-modal AI foundation model, which keeps track of the items customers take or return to shelves. To shop, customers tap a credit card or mobile wallet to open the gates, take what they want, and exit the store.

With these new openings, Just Walk Out technology now powers more than 100 stores in sports stadiums across the US, UK, Australia, and Canada.

1…Auchan Retail Luxembourg has become the first retailer in Luxembourg to use Exotec's Skypod system, with deployment in its Dudelange warehouse.

At Auchan’s site, Exotec has installed 37 robots in the facility to automate order processing, with the aim of making the workload of warehouse employees lighter and more pleasant.

The installation consists of metres high racks in which the Skypod robots autonomously manoeuvre in all directions to extract products from 15,300 bins. They then take these to one of three picking stations, where the order is completed.

Rémy Malchirand, EVP Sales Western Europe, at Exotec says: “By automating warehouse activities, Auchan has significantly increased the quality and reliability of the order picking process, saving employees from a lot of walking and lifting and significantly improving working conditions.”

“This is fully in line with our human first philosophy, in which we constantly make efforts to make work in the warehouse as comfortable and safe as possible.”

57% of retailers and brands in the UK plan to increase third-party (3P) selling in the next 12 months to help weather the turbulent economic climate, according to research released by Rithum.

Against a backdrop of rising operational costs and a highly competitive e-commerce market, the report highlights that lower margins are the primary driver behind why more businesses are expanding into 3P commerce.  

This was conducted by Wakefield Research and surveyed 550 retailer and brand executives in the US, UK and Germany to identify growth opportunities through this model.  

6 and 2…Swiss luxury watchmaker TAG Heuer has announced the opening of its new boutique at Bluewater Shopping Centre.

As the sixth flagship store in the UK, at 120 square metres it is also the brand’s second largest in the UK, behind the London location on Oxford Street.

The Bluewater boutique, located on the upper floor of the South Eastern retail destination, invites visitors to immerse themselves in TAG Heuer’s heritage and vision. It was conceptually developed by TAG Heuer’s in-house design and architectural team in Switzerland, with the design blending natural wood and steel.

Signature colour accents of deep blue and racing red pay homage to its motorsport history and timepieces, including the Monaco collection.

A modern linear theme runs throughout the space, which features tall contemporary bookcases presenting memorabilia from the brand and a private lounge space separated from the main floor by a partition where team members can guide guests through the collections.

£20 million…A new retail store opens its doors on Oxford Street this week, ahead of its official launch on 30th October, with those behind it promising a new era that blends the latest technology powered by Intel, bricks and mortar as well as state of the art graphics.

Future Stores is laying claim to a £20 million investment in a personalised experience that, according to a press release, is “as fluid as a social media feed, featuring a rotating lineup of brand ‘showcases’ or ‘activations’ that will change every two to six weeks”.

Intel is the first brand to take on the space, and will host an interactive, immersive and technology fuelled activation. Consumers can get hands on with the firm’s newly launched AI PCs and play games live in-store from 30th October.

Upon entering the two floor space, that spans an entire Oxford Street block, shoppers are met with 400m² of high definition Micro LED displays, monumental billboards, and cameras. Here, consumers connect with brands through live demos, tutorials, and showcases led by influencers and creators.

This experience is also complemented by insight and data, that shows, dwell time, customer journey as well as traffic both inside and outside the store. Other measurements such as gender and sentiment will be quick to follow in the new year. 

14…UK-based online marketplace, OnBuy, is gearing up for an expansion initiative planned for 14 countries by the end of 2024.  

The roll-out begins in the EU before the end of the year and continues with North America in 2025.

The news comes on the heels of OnBuy’s Google Cloud partnership, which will enable the business to expand internationally with cloud infrastructure that aims to improve both seller and customer experiences, reduce costs and enable new revenue streams.

The pair say that the partnership will enhance operational efficiency and provide customers with faster and more secure checkout experiences, and greater flexibility, whilst enabling the marketplace to grow around the globe. 

£4 million…UK-based AI driven e-commerce solution provider, Ocula Technologies, has closed a £4 million Series A funding round.

The includes investments from NYO Capital and Jose Luis Gomes, and follows a £3.25 million led by Praetura Ventures in August.

Gomes brings a wealth of experience from his role leading Google Cloud’s North American Retail & Consumer division. He also holds positions on numerous advisory boards, including that of CapitalG, Alphabet’s independent growth fund.

Prior to Google, he worked at dunnhumby, leading its North American operations.

And the investment marks NYO Capital’s first venture into the European market. The firm says that it is committed to bolstering Ocula’s expansion in the US market, enhancing its visibility and reach in the North American e-commerce landscape.

11 million Brits are planning to dress up for Halloween this year and are investing in costumes, ghoulish make-up and decorations ahead of 31st October. 

According to an analysis of a survey involving 2,000 people from buy now pay later specialist Clearpay, there has been a boom in sales of adult Halloween costumes.

Figures comparing 2024 to 2023 sales reveal a 533% surge in adult zombie outfits, a 427% rise in adult devil costumes and a 88% growth in adult ghost getup. On average, adults budget £49 each for a costume - a total spend of £555 million across the nation.  The average spend on adult outfits is slightly more than the typical £46 budgeted for a children’s fancy dress outfit. 

Even family pets are getting into the spooky spirit as Clearpay sales data shows a 617% rise in pumpkin outfits for dogs and a 400% surge in dog spider costumes. 55% of pet owners who are celebrating Halloween will be dressing up their furry friend this year.