3D experiences and mobile robotics automation: 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 Next, Snappy Shopper, John Lewis, Greenly, Scandit, Starship Technologies, 3D Cloud by Marxent, Outform, and Deliveroo.
£5.8 billion…Next this week reported full-year underlying revenue of £5.8 billion, up 5.9%. Underlying profit before tax rose 5.% to £918 million, whilst full price sales increased by 4.%
Guy Lawson-Johns, Equity Analyst, Hargreaves Lansdown, says: “Next materially outperformed expectations, beating their upgraded pre-tax profit guidance of £915 million.”
“Unusually cold and wet weather dampened spirits at the start of 2023, but May and June heatwaves powered the retailer to a 5.9% rise in underlying revenue.”
“But online revenues are the key driver for growth. Revenues from this channel are up around 47% compared to 2020 and unlike many other peers, the covid uplift has stuck.”
“It’s no secret Next has worked hard on online service improvements and it’s paying dividends. Better stock availability and excellent operational execution are helping to deliver ahead of expectations.”
He adds: “Importantly this online growth has been achieved whilst maintaining full-price sales. Unlike peers such as JD Sports, who have had to lean on more promotions to entice punters to part with their cash, Next have stood firm on its pricing.”
“Thanks to tight inventory control it carried 14% less surplus stock into online end-of-season sales than the year before.”
“All of this is good news for margins as write-down costs are kept to a minimum and more items are sold at full price. Impressive for a company whose product range has ballooned to include the likes of Nike, Barbour and GANT.”
“Where question marks remain is whether these third-party brands will cannibalise more profitable own-brand sales longer term. Currently numbers point to this being under control.”
“Total online full price own-brand sales for the year to 31st January 2024 rose 4% year on year to £1.3 billion. By contrast, online full price third-party sales grew by 2% to £885 million.”
$52 million…Greenly has announced a $52 million Series B funding round led by Fidelity International Strategic Ventures, two years after a $23 million Series A.
The startup says that the latest fundraising effort establishes it as a global leader in a market poised for massive adoption, spurred by new regulations like the EU's Corporate Sustainability Reporting Directive and the recent US requirement for public companies to report their greenhouse gas (GHG) emissions.
In addition to Fidelity International Strategic Ventures, the round pulled in new investors such as BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise and HSBC, while existing partners like XAnge and Energy Impact Partners returned.
Brian Halligan, Co-Founder and Chairperson, HubSpot, also participated.
Leveraging generative AI, Greenly streamlines collection of large corporate datasets stemming from multiple softwares (Utilities, ERP, cloud, freight etc.), and automates analytics, using its own user-generated learning.
With 2,000 customers worldwide, it has been partnering with the likes of BNP Paribas, AXA, and L’Oreal, to promote decarbonisation across their wider ecosystem.
250…After a trial period across One Stop stores last year, the convenience retailer has officially selected Snappy Shopper as one of its home delivery partners.
With over 1,000 convenience stores nationwide, One Stop will initially introduce Snappy Shopper's quick commerce services to 250 of these locations, starting from June.
Mike Callachan, CEO at Snappy Shopper, comments: “Our partnership with One Stop, marks our first national retail roll-out, and is a great milestone for us as a business.”
“One Stop choosing us shows the recognition of Snappy Shopper both in the marketplace and for our white label business. We see One Stop as a retail partner that shares our values – its business model focuses on serving customers and their communities, providing convenience and accessibility.”
400…Stonegate Group, a UK pub company with a portfolio of more than 4,500 managed, leased and tenanted sites, including Yates, Slug and Lettuce, and Walkabout, has joined the Parcel Pending by Quadient Open Locker Network as a host partner.
Quadient has started rolling out its carrier agnostic parcel lockers, with an initial target of installing 400 units across Stonegate’s 1,200 managed properties.
“We believe pubs sit at the heart of British culture and support any move that can turn them into even more of an asset to the local community,” says Claire Rust, Senior Buying Manager, Stonegate Group.
“Parcel Pending by Quadient smart lockers enable people living near our pubs to easily and securely pick up and return online deliveries from a convenient, trusted location. From Plymouth to Glasgow, introducing parcel lockers to our sites is already benefitting customers and the local community.”
50%…Locus Robotics has announced a partnership with John Lewis & Partners following deployment of its Locus AMRs at the retailer’s distribution centre in Milton Keynes.
This represents the first deployment of mobile robotics automation at John Lewis, which reports a 50% increase in its picking rates.
The LocusBots collaborate with partners at the site to improve productivity and efficiency in order fulfilment, while also eliminating unproductive walking time and the need to push heavy carts or lift items.
The robotic fleet is helping John Lewis achieve greater throughput and accuracy as it scales up its e-commerce operations to meet rising customer demand.
1…Starship Technologies, a provider of autonomous delivery services, has announced the installation of the first wireless charging station for its robots in Europe.
Thanks to a collaboration with Cambourne Town Council, a fleet of its robots will now recharge between making grocery deliveries across Cambourne in Cambridgeshire.
The service first launching in Cambourne back in May 2022, offering groceries from the Co-op store at 29 Mosquito Road in Upper Cambourne.
Starship first introduced wireless charging stations on George Mason University campus in the US over six months ago.
It now expects to further reduce emissions in Cambourne as robots will no longer need to be couriered by van between service areas. Wireless charging is more energy efficient, allowing them to charge up overnight, while they’re sleeping, on-site.
40%…Scandit has released a report, ‘Frontline Retail Revealed: Motivations, Technology Attitudes and Insights’, examining store associates’ perspective on the factors influencing workplace loyalty, retention and technology investment, including the potential impacts of AI.
Its survey, across seven countries encompassing 2,000 store associates in nine retail sub-sectors, highlights that up-to-date technology is now more than a luxury. It is a key driver in affecting worker motivation and, ultimately, a retailer’s success.
However, the research uncovers a crucial gap: 40% of respondents feel that their employers don’t invest in their tech needs, with 20% actively feeling it’s a non-priority.
60%…3D Cloud by Marxent has published its 3D Cloud Furniture Shopping Trends Study 2024, showcasing the emergence of a completely new customer journey within this space.
The study conducted by Provoke Insights surveyed 400 furniture shoppers.
Topline findings indicate that consumers prefer shopping with retailers who offer 3D visualisation and configuration experiences.
Two-thirds of respondents who did not use a 3D visualiser or configurator when purchasing furniture expressed a wish that they had.
Over three-quarters of consumers revealed that using 3D visualisation or configuration tools makes them feel like smarter furniture buyers. 60% of shoppers expressed a desire for more in-store assistance with furniture visualisation.
$41.5 million…Pandion, a specialist in e-commerce residential delivery and founded by Amazon Air founder Scott Ruffin, has secured a $41.5 million Series B funding round led by Revolution Growth.
Other participants included existing investors Playground Global, Prologis Ventures, Bow Capital, Telstra Ventures, AME Cloud Ventures, and Schematic Ventures and new backers Proof and Sentinel Global.
Pandion will use the new funding to accelerate the growth of its residential parcel delivery network, including building new technology offerings, expanding its geographic reach, and increasing delivery speed for customers like Saks Fifth Avenue.
72%…New research from Outform reveals that fashion and sportswear shoppers no longer identify as an online or in-store customer, 72% prefer to shop both. They now expect a consistent experience regardless of the channel; and it's the ability to touch and try-on, consider and compare that drives them into the physical store.
For 55%, the tactile experience of being able to touch and feel products is important, while a third go in-store to consider and compare options. Additionally, 69% say they find inspiration from the in-store shopping experience.
15 and 1,000…Deliveroo is offering 15 hours of free childcare to 1,000 riders through a new partnership with the Bubble mobile app, with the aim of enabling people to work at the times that are right for them.
Riders will also be able to choose from more than 1,500 online educational courses through Lynx Educate.
A recent survey of Deliveroo riders in the UK and Ireland found that the majority with caring responsibilities look after children (88%), and would find care support useful (81%).
$6.4 million…Blockchain enabled Web3 fashion startup, mmERCH, has announced a $6.4 million seed funding round at a $25.7 million post-money valuation led by Liberty City Ventures, with participation from 6529 Holdings, Christie’s Ventures, and Flamingo DAO.
Launched in late 2023 by Founder and CEO Colby Mugrabi, mmERCH is supported by a team of founders, creators, collectors, curators, artists, academics, and authors.
The fundraise announcement comes as it is set to release its inaugural collection in April.
According to a press release, it targets “a growing community of individuals at the intersection of art, fashion, and technology – leveraging generative design to create collections of singular pieces or what mmERCH calls neo-couture.
“The brand is driven by a commitment to expertly curated collections brought to life with a playful spirit, a digital link, a range of benefits both virtual and physical, and a distinctive artistic lens.”
