PayTech firm Shift4 inks agreement to acquire Givex: 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 TCS, Primark, Zippin, Amazon, Rep AI, B&Q, Cards Direct, Tilt, StrongPoint ALS, Zepto, and RTIH magazine.
50…Cheers to JYSK President and CEO, Rami Jensen, who today celebrates his 50th birthday. This year also marks 30 years since he started his career with the retailer as an apprentice in Esbjerg, Denmark.
“It is a great privilege to lead one of Denmark’s most well known global retail companies and ensure that we stay true to our core values while continuing to expand and develop the company and our great offers,” he says.
$340 million and $5 billion…Indian online grocery delivery app, Zepto, has secured $340 million in a follow-on financing round, placing the company at a $5 billion in valuation following its previous fundraise in June.
General Catalyst led the round, with Dragon Fund, and Epiq Capital joining as new investors. Existing backers such as StepStone, Lightspeed, DST, and Contrary also increased their stakes.
Zepto has now raised more than $1 billion in just two months.
8 and 5…Tata Consultancy Services (TCS) has expanded its eight-year partnership with Primark, announcing a new five-year deal involving the retailer’s IT systems and new store openings.
TCS has been working with Primark since 2016.
As well as driving business critical integration programmes and stabilising core platforms for the retailer, it has also improved cybersecurity capabilities, boosting stability and reliability of processes and systems.
As part of the expanded partnership, TCS will look to transform Primark’s technology operating environment to make it more resilient, reliable, and efficient.
It will also work with Primark to adopt a more agile and product-based operating model by enabling automation through intelligent automation and DevOps technologies.
Andrew Brothers, Chief Information Officer, Primark, says: “To help support our ambitious growth plans we’re expanding our partnership with TCS to build a robust, resilient, and reliable IT operating environment to become a more efficient, technology led global organisation with the agility to quickly adapt to changing demands and requirements in a fast-paced industry.”
“Working with TCS will provide us with the ongoing operational stability and accountability needed to support our business to scale. This will allow us to respond to market trends and customer preferences in a timely manner, ensuring that we continue to deliver quality products at the best value for our customers.”
$200 million…New Zippin checkout-free concessions are part of a $200 million investment project at Levi’s Stadium, home of the National Football League's San Francisco 49ers.
This follows the stadium’s ten-year anniversary and comes in preparation for 2026, when it will become the first venue in history to host a FIFA World Cup and Super Bowl in the same year.
On the main concourse, frictionless concession stands will provide an alternative, cashierless way for fans to obtain basic food and beverage.
“Together, with our 49ers Faithful fans, members and corporate and event partners, we have collectively made Levi’s Stadium a world class sports and entertainment destination,” says Brent Schoeb, 49ers Chief Revenue and Marketing Officer.
“Throughout our first decade at Levi’s Stadium, we have cultivated an award winning experience. As we embark on the next decade of 49ers games, Super Bowl 60, FIFA World Cup, concerts and other events, we will continue investing in the fan experience.”
130,000 and 100…PayTech firm Shift4 has signed an arrangement agreement to acquire Givex, a provider of gift cards, loyalty programmes and Point of Sale solutions.
With 130,000+ active locations across more than 100 countries, Givex serves a range of businesses in various industries, including Nike, Marriott, 7/11, Wendy’s, Best Western, and Texas Roadhouse.
$8.2 million…Rep AI Technologies has raised $8.2 million in funding. Led by Osage Venture Partners (OVP), the investment will fuel further development of the company’s e-commerce sales tool.
Built leveraging a proprietary combination of behavioral AI and large language models (LLMs), the tool enables merchants to provide personalised sales assistance at scale. It can be integrated with existing tech stacks.
OVP says that it selected Rep AI for its strong market traction and compelling value proposition.
Over 500 merchants worldwide are using its solution. Joining OVP in this round are Flashpoint Ventures and Oryzn Capital.
$11.4 trillion…By 2029, the value of global e-commerce transactions will reach $11.4 trillion; up from $7 trillion in 2024, according to Juniper Research.
This growth will be driven by the adoption of e-commerce across emerging markets. In these regions, APMs (alternative payment methods) will enable consumers in non-card-centric markets to purchase online for the first time.
Juniper Research’s Lorien Carter comments: “Alternative payment options have grown substantially, with APM transaction volumes leapfrogging cards in emerging markets. As merchants look to attract new users and geographies, they must consider offering APMs a key strategy to accomplish this.”
1…Amazon has opened a new Amazon Fresh store in Roseville, California.
This includes the retailer’s Dash Cart, a smart shopping cart that lets shoppers skip checkout lines and see their spending in real-time, and the biometrics-based Amazon One payment system.
In a LinkedIn post, Leandro Balbinot, VP of Technology at Amazon and CTO at Whole Foods, said: “Continuing our Amazon’s Worldwide Grocery Stores' growth and efforts to build a best-in-class shopping experience that meets all of the different customer needs, I'm excited to announce our new Amazon Fresh store in Roseville,
California is open to the public since 22nd August.”
He added: “The Roseville location is the first Amazon Fresh store in Northern California. It offers a wide selection of affordable, quality groceries and a convenient shopping experience.”
34…Amazon has announced the launch of its 34th Just Walk Out technology powered store in the collegiate space.
In a LinkedIn post, Madison (Kelly) DeFranco, Senior Technical Business Development, Just Walk Out Technology at Amazon Web Services (AWS), said: “Thrilled to launch University of Virginia Gaston's Market powered by Amazon Just Walk Out technology in the beautiful new Gaston Hall - just in time to welcome back students.”
She added: “In partnership with our friends at Grubhub and Aramark Aramark Collegiate Hospitality, this marks our 34th store in the collegiate space. It takes a village, and I am so grateful for the the hard work of our AWS team and partners to get this store open.”
2…StrongPoint ALS reports completion of its second Ikea locker installation at Tesco Dereham.
In a LinkedIn post, the company said: “The project was delivered smoothly with a snag free handover, and we’re proud to report that both Tesco and Ikea were very pleased with the outcome. The lockers are now live and ready for use by the general public.”
It added: “A special thanks to David from Ikea for allowing us to share this achievement. Please note that this installation is part of an early phase trial.”
1 and 11…B&Q has opened its first Local store outside of London, in Brighton, making this the 11th such physical location in its portfolio.
B&Q Local Brighton is a new smaller high street format with the aim of providing customers with speed, convenience, and access to the retailer’s wider offer of products and services but closer to home.
To celebrate the opening, store manager Connor Sime was joined by local choir Brighton Gay Men’s Choir, local artist Dave Pop Art who designed a bright and colourful store window mural and Brighton and Hove ward councillor Andrei Czolak.
The new 4,000 sq. ft store will offer 3,500 products, available either in store for immediate pick-up or next day Click and Collect, as well as access to over 30,000 additional home improvement products for home delivery.
Customers can access the full range through home delivery and Click and Collect.
10 and 2,130…North Point Shopping Centre in Hull has added greetings cards specialist Cards Direct to its retailer line up, with the latter opening its doors to the public on 31st August.
Cards Direct has taken a ten-year lease on the 2,130 sq ft unit at the centre in Bransholme, and follows other recent big name lettings at North Point, including B&M, Greggs and Bodycare.
A spokesman for FI Real Estate Management, says: “Once again we have been entrusted by a national occupier, who recognise both the centre’s fantastic footfall figures but also the sense of community we have built here.”
“We’re delighted to welcome this rapidly expanding business and wish them every success at North Point.”
$18 million…Tilt, a real-time shopping platform founded by ex-Revolut employees, has closed an $18 million Series A funding round led by Balderton Capital.
There was also participation from existing investors TQ Ventures, Earlybird and Seedcamp.
Founded by Neil Shah and Abhi Thanendran, Tilt focuses on the fashion space and claims to address several key problems in the current e-commerce landscape.
In this edition, we showcase the 2024 RTIH Innovation Awards, sponsored by CADS, 3D Cloud, and Retail Technology Show 2025, and Business France.
Deadline for entries is Friday, 25th October, with winners being announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London on Thursday, 21st November.
We also present the Retail Technology Innovations Report, sponsored by 3D Cloud.
This highlights the top 50 retail tech plays of the past 12 months as decided by myself and an independent advisory panel.
Innovation and technology play a critical role in the success of the retail sector, and it is great to celebrate this with the Retail Technology Innovations report.
We have now started work on the 2025 edition, which will be published both in our magazine and on our website in March of next year. In this issue, we run through a few early contenders for the next top 50.
Elsewhere, RTIH talks social media, physical locations and online opportunities with Louis Rose, Co-founder of Sofa Club, and our secret shopper delves into the online experience offered by Cider, the fast fashion firm that is challenging Shein.
Also, our Editor Scott Thompson highlights the continued importance of high streets and town centres amid the rise in popularity of streaming services and online shopping.
They are vital for the UK’s economic success. But it goes beyond that. They also play a massive role in civic and community life, in a way that Netflix, Amazon et al will never be able to do.
And last but most certainly not least, regular contributor, Mike Cadden, talks about how building a community around your e-commerce brand is a powerful strategy for driving long-term sales and enhancing customer lifetime value.
If you are a retailer and would like to receive a free copy of issue seven of RTIH magazine, please complete the form below and we will add you to our mailing list.
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