Including Zepto, JCPenney, Kingfisher, and Nike: RTIH rolls out the 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 Co-op, InPost UK, Kingfisher, Google Cloud, Studenac, JD.com, H&M Group, Amazon, and the 2024 RTIH Innovation Awards.
1. On demand grocery delivery firm Zepto preps $650 million funding round to duke it out with Blinkit and Instamart
Indian rapid grocery delivery platform, Zepto, is set to raise $650 million from a combination of existing and new investors, taking its valuation to approximately $3.5 billion.
Leading the funding round are Nexus Venture Partners and StepStone Group, both of whom are existing backers of Zepto.
They are joined by existing investor Glade Brook Capital and newbies including Avenir Growth, Lightspeed Venture Partners, DST Global, and Avra.
Nexus Venture Partners, along with its limited partner StepStone Group, will stump up a significant portion of the $650 million, making this its largest investment to date.
The cash will be largely used to expand Zepto’s presence to new cities and penetrate deeper into existing ones.
Founded by Aadit Palicha and Kaivalya Vohra during the Covid pandemic, Zepto is one of three primary players in the Indian quick commerce market, the others being Blinkit, owned by Zomato, and Instamart, owned by Swiggy,
It has a presence in Delhi, Chennai, Gurgaon, Bangalore, Mumbai and Hyderabad.
2. UK omnichannel grocery retailer Co-op ramps up its parcel locker partnership with InPost
Co-op and InPost are expanding their roll-out of parcel collection and returns lockers, with the expectation that they will reach 150 locations this year.
Chris Conway, Co-op E-commerce Director, says: “Our focus is to make things easier and more convenient for our member-owners and customers.”
“And with our stores located conveniently in high streets, transport hubs, university campuses and residential developments, InPost lockers can help residents and time pressed shoppers in our communities pick up or return parcels at a time that is convenient to them, on their way to or from work or when they pop out to pick up their groceries, quickly, easily and conveniently.”
3. Amazon reports that its Just Walk Out technology will be deployed at London arena The O2 this summer
The O2 will be one of more than a dozen third-party locations in the UK to offer Amazon’s Just Walk Out technology by the end of this year.
It will be the first indoor arena in England to use the solution, with a new store allowing people to tap their card or mobile wallet, grab their chosen drinks and snacks, and quickly get back to their seats.
The O2 adds to a growing list of UK venues that have opened stores powered by Just Walk Out technology, including ExCel London and The SSE Arena.
Jon Jenkins, Vice President, Just Walk Out technology, says: “We have stores in corporate headquarters like Bentley Motors and Santander Bank, as well as our own Amazon headquarters in London.”
“We’re also in hospitals and universities, including stores at Telford Hospital and Sussex University, and we recently launched a store at Gridserve’s EV Station at Gatwick Airport, with more Gridserve stores coming later this year.”
“By the end of 2024, we expect to be in more than a dozen third-party stores in the UK, as well as in all 20 UK Amazon Fresh stores.”
4. Google Cloud teams with Kingfisher to streamline AI services and accelerate time to market for AI solutions
Google Cloud has announced an AI focused partnership with Kingfisher, an international home improvement company and owner of UK DIY brand, B&Q.
Athena, Kingfisher’s orchestration framework, now uses Google Cloud’s Vertex AI to make instant product recommendations, accurate predictions and demand forecasts.
By leveraging Google Cloud technology, Athena is now able to:
Combine the capabilities of Vertex AI Search with Kingfisher’s recommendation engine to help customers find the right tool for the job, in seconds.
Integrate LLM technology with Vertex AI Search to help streamline internal processes, such as answering employee queries.
Kingfisher developers can now experience the the flexibility of either building solutions from scratch or using an off-the-shelf solution, reducing development time from months to weeks.
5. JD.com debuts native spatial JD.Vision app built for Apple Vision Pro ahead of China release
Chinese e-commerce giant, JD.com, has announced the launch of JD.Vision, a native Apple Vision Pro app that offers an immersive shopping experience leveraging spatial computing.
This made its debut on the final day of JD’s 618 Grand Promotion.
Ahead of Apple Vision Pro’s official release in China on 28th June, JD.Vision features a range of appliances, electronics, and furniture from brands such as Samsung, Casarte, Harman Kardon, MORROR ART, and Honeywell.
Starting this week, users can access it by searching for “京东.Vision” in the App Store on their Apple Vision Pro devices.
6. American department store chain JCPenney announces $40 million investment in supply chain upgrades
JCPenney has unveiled a new upgrade to its 1.67 million square foot Reno, Nevada distribution centre.
As part of the retailer’s self-funded $1 billion reinvestment strategy announced last year, it has invested $40 million in updating the equipment and infrastructure of the Reno facility to increase order efficiency and speed for online shoppers.
The centrepiece of the upgrade is the implementation of the Joey Pouch sorting system, a computerised induction, sorting and packing system.
It includes new induction process technologies, a fully automated sorter to assemble orders and a new packing system that includes invoice and shipping label printing for each order in the station.
The upgrade is expected to improve the customer experience by ensuring that online orders are complete with higher accuracy and shipped out more quickly.
7. Studenac focuses on sustainability and technology innovation as it preps new distribution centre near Zagreb
Croatian retailer, Studenac, has announced plans to build a new distribution centre near the country’s capital Zagreb that will open next year, deploying solutions to enhance the efficiency and capacity of its logistics network, ensuring shorter delivery times to stores and improving collaboration with suppliers.
The facility in Velika Gorica will cover 36,000 square metres and eventually create approximately 500 new jobs.
Studenac, which is owned by a fund managed by Enterprise Investors, a private equity firm in Central and Eastern Europe, currently has a central distribution centre in Dugopolje, near the coastal city of Split, which supports cross-dock operations in Zadar, as well as semi cross-docks in Dubrovnik, Pazin, Zagreb and Kutina.
“Since the change in the ownership happened in 2018, we have evolved from a local trader to one of the nationwide leaders in the retail sector in Croatia,” says Dragan Baškarad, a member of the Studenac management board.
“As we implement our growth strategy, we continue to invest across our business to ensure we continue meeting our customers’ expectations for high quality and fresh products. We expect that the solutions we’re deploying in the new centre will ensure the greatest possible efficiency all along our supply chain.”
8. HYPERVSN 3D holographic tech powers immersive shopping experience at Nike’s House of Innovation
Nike has delivered an immersive shopping experience to shoppers with 3D holographic technology from HYPERVSN.
To coincide with the launch of its new Air Max Dn sneakers, the retailer has deployed a series of detailed 3D visuals at its House of Innovation store in Paris.
Every intricate detail of the sneaker is represented in holographic form across a series of individual stations.
This allows attendees to inspect the Air Max Dn’s features for comfort and responsiveness.
"Nike has redefined the meaning of 'walking on Air' with the launch of the revolutionary Air Max Dn shoes at their House of Innovation in Paris. Showcased during Air Max Week 2024 through HYPERVSN's Hologram 360 Technology, this experience perfectly aligns with Nike's commitment to constant innovation and exceptional customer experiences,” says Amar A, industry expert and influencer.
9. Studenac market CIDO Nina Mimica joins 2024 RTIH retail technology awards judging panel
The awards celebrate global tech innovation in a fast moving omnichannel world.
Our 2024 winners will be announced at the 2024 RTIH Innovation Awards ceremony, which will be held at RIBA’s 66 Portland Place HQ in Central London on Thursday, 21st November.
Entry forms and FAQs can be found here.
Studenac, which is owned by a fund managed by Enterprise Investors, a private equity firm in Central and Eastern Europe, has more than tripled its store network in almost six years, expanding throughout the country via a combination of organic growth and acquisitions, and it sees potential for further growth based on its proximity retail concept.
Nina is responsible for the innovation and digitalisation strategy and development using advanced analytics and new product development as drivers for new company growth and value, optimisation, efficiency and customer satisfaction.
10. H&M Group invests in Rondo and looks at how heat storage technologies can help decarbonise textile supply chain
H&M Group is partnering with Rondo Energy to explore the potential for heat storage technologies in its supply chain.
The fashion company is also making an investment in Rondo and joining its strategic investor advisory board.
The pair will explore opportunities for factories in the group's global supply chain to replace fossil fuels with clean heat and power delivered by Rondo Heat Batteries.
Rondo will use H&M Group Ventures' investment to expand its international operations and to develop and build storage projects serving this need.
"Producing and finishing fabrics requires large amounts of low-cost energy, which makes our brick batteries a perfect fit," says John O'Donnell, Founder and Chief Innovation Officer at Rondo Energy.
"Today, coal delivers most of the heat and most of the carbon pollution making fabrics, because it's always been cheap and simple to burn.”
“But the world is changing. Region by region around the world, wind and solar power are becoming cheaper than fossil fuels. At Rondo, we've created a simple, practical tool to harness those new energy sources."
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