A year of two halves for Marks and Spencer: presenting the retail technology week in numbers
Do you like numbers? Do you like retail tech news? Then this is the article for you. Including Walgreens Boots Alliance, Mars, RADAR, Inretrn, Currys, Blink, Searchable, Primark, Multiverse, Tesco, Xiaomi, Shoezone, Just Eat, Meta, Fresha, Scala, and Specsavers.
1…Just Eat has launched what is pitched as Europe’s first food and retail ordering service through WhatsApp, allowing customers to browse and place orders directly within a WhatsApp chat through its partnership with Meta.
A pilot will roll-out over the coming months in Spain and the Netherlands, allowing customers to message what they are looking for, such as “pizza for four” or “healthy lunch nearby”, and receive tailored recommendations powered by conversational AI before checking out through the Just Eat app.
This builds on the roll-out of an AI voice assistant in the UK and recent Alexa+ collaboration with Amazon.
Mert Öztekin, CTO at Just Eat, says: “By introducing Europe’s first WhatsApp ordering flow, Just Eat are not just adding a new channel; we are redefining the paradigm of convenience.”
“This innovation is a core component of our evolution from a transactional menu application into a truly intelligent AI Life Assistant that understands customer intent in real-time. We are proud to be the first to market in Europe, proving that Just Eat is at the absolute forefront of AI driven transformation. We are a technology business first, our priority is to drive operational excellence through automation and smart technology that simplifies the lives of consumers."
Geraldine Bouma, Country Director Benelux at Meta, says: “Chatting to businesses to check travel plans, make a reservation or browse a catalogue is already a way of life for many people around the world. We’re excited that more people in Europe will soon have the opportunity to use WhatsApp to order food and get things done.”
In a LinkedIn post, he said: “After 28 fantastic years at Boots, I’ve decided to take the plunge and move on. It’s impossible to properly summarise what all of those years in one organisation mean. I’m hugely grateful for the opportunities I’ve had over that time, and especially for the many managers, mentors and coaches who encouraged me to keep reaching further.”
He added: “I feel incredibly fortunate to have been part of the early wave of analysts using loyalty card and other data to improve customer outcomes - not just in the UK, but across the many markets where Boots operated globally during that period. When I joined, I could never have imagined that analytics and data would become such central topics, or that the work my teams contributed would at times be recognised not only internally, but also across the industry and national media.”
30...YEEP! has announced a partnership with Tesco, following the completion of a trial phase. This will see its solar powered lockers installed at 30 Tesco locations, with further expansion planned subject to performance and customer feedback.
Jamie Dickinson CEO at YEEP!, says: “We are incredibly proud to be partnering with Tesco to roll out YEEP! parcel lockers across their store network. As one of the UK’s most trusted retailers, Tesco shares our commitment to convenience, accessibility, and community presence, making this a significant milestone for us. This partnership marks an important step in our mission to make parcel delivery and returns simpler, smarter, and more accessible. By placing our lockers at Tesco locations, we are meeting customers where they already shop and providing secure, convenient parcel services that fit seamlessly into their daily routines.”
He adds: “Together, we are creating meaningful value for both organisations, supporting Tesco’s already strong customer experience, and driving additional footfall, while accelerating our national expansion. Most importantly, this collaboration makes sending, collecting, and returning parcels easier than ever for customers. We are excited about what this partnership represents today and the opportunities it creates for the future.”
32%...Price is the single most influential factor in AI assisted shopping, with 32% of consumers citing it as their primary decision driver when choosing between recommendations made by an AI assistant. This is more than double the proportion who say they simply follow the AI's top recommendation (14%). US consumers are particularly price driven of any market surveyed, with 37% ranking price as their primary consideration.
That’s according to a study based on a survey of 4,250 consumers across the UK, US, France and Germany who use AI for online shopping, commissioned by payments consultancy PSE Consulting.
The research found that 43% of consumers report positive experiences of AI assisted shopping so far, while fewer than 3% report mostly negative experiences. The remainder describe their experience as mixed. People are not waiting for the technology to mature before they use it. They are trying it out and coming back for more.
What they are waiting for is a brand they recognise. 89% of respondents say recognising the seller's brand is important or very important when acting on an AI recommendation. 92% say customer reviews matter when deciding between AI generated options, and 68% say they would consider an AI recommendation for a new or unfamiliar seller/merchant brand, but only after checking reviews and ratings first.
£190 million...Mars, Incorporated, whose brands include M&M's, Ben's Original, Extra, Snickers, Pedigree, and Whiskas, has announced a £190 million investment between 2023-2028 in its Slough factory in the UK.
The Slough facility, the birthplace of the Mars Bar in 1932, is a vital hub in the company's European network. In addition to serving the UK market, it is a key exporter to the EU. In 2025, it exported over 2.7 million kilograms of chocolate to Ireland and over 12.3 million kilograms to the Netherlands.
The £190 million investment will see the combination of robotics and AI with upgraded machinery, as well as advanced cooling systems and energy efficient utilities to improve performance and sustainability across the site. Mars will deploy digital twin technology to the Slough factory, using AI driven data to optimise production, ensure consistency, and reduce waste. The investment will also support workforce upskilling, creating new routes into advanced engineering, automation, and data enabled manufacturing roles.
Adam Grant, General Manager Mars Snacking UKI, says: "This investment reflects our confidence in the UK as a hub to manufacture and innovate. In taking a long-term view, we are ensuring our operations remain world class, competitive and fit for the future. Our Slough factory is deeply rooted in our heritage, and as a proud family-owned business, we are committed to investing in a future that creates lasting, positive impact for the communities where we operate."
24.8%...Marks & Spencer’s full-year sales rose 24.8% to £17.4 billion, or up 1.9% to £14.2 billion excluding Ocado Retail. Underlying pre-tax profits fell 23.8% to £0.7 billion.
Full-year dividend increased 16.7% to 4.2p per share. Aarin Chiekrie, Equity Analyst, Hargreaves Lansdown, says: “It was a year of two halves for M&S, with significant operational disruption from the cyber incident in the first, followed by a return to sales and profit growth in the second."
"Granted, full-year sales growth was inflated by the consolidation of its half-owned joint venture, Ocado Retail. But stripping out this impact, total sales were still in positive territory, rising 1.9% to £14.2 billion. In Food, the group’s been working hard to improve its value proposition, including ‘Dropped & Locked’ and ‘Remarksable’ pricing, focused on core categories such as protein and produce to help draw more customers through its doors. It’s having the desired effect, with over 800,000 additional shoppers in the year, and nearly half of Food’s 7.0% sales growth last year was driven by higher volumes."
It was a more complicated story for the Fashion, Home & Beauty (FH&B) division. Its sales were hardest hit by the cyber attack early in the year, which halved its profits as it had to discount excess stock and lost market share to more functional competitors. Despite a tough year, underlying trends in FH&B remain positive, reflecting improved customer perceptions of value, quality, and style.
Chiekrie adds: "Despite macroeconomic challenges, M&S expects to deliver full-year profits growth relative to 2024/25 levels, which looks achievable in our eyes. Alongside a relatively modest valuation compared to peers, this is why we selected M&S as one of our Five Shares to Watch in 2026.”
$170 million and $1 billion...RADAR, an AI powered retail intelligence platform, has raised $170 million in Series B funding, co-led by Gideon Strategic Partners and Nimble Partners, and with participation from Align Ventures, bringing the company’s valuation to $1 billion.
It plans to use this round to accelerate deployments across retailers, advance next-generation sensor hardware, expand AI analytics capabilities, accelerate autonomous checkout development, and grow across Canada, EMEA, and Latin America.
“In 2026, operating without real-time intelligence in physical retail means choosing to leave billions of dollars on the table. RADAR is changing that,” says Spencer Hewett, Founder and CEO at RADAR. “Today, we’re empowering retailers to run stores with the same precision as e-commerce. This round signals market conviction in the scale of the opportunity and accelerates our ability to extend that advantage across retail and beyond.”
“The physical world has long been a blind spot in an otherwise data driven economy,” Erik Oros, Chief Investment Officer of Gideon Capital. “RADAR is closing that gap. Starting with retail, the company is delivering clear, measurable ROI today while building a proprietary data advantage that strengthens with every deployment. We believe that combination positions RADAR to define the category and become a foundational layer of real-time intelligence across physical industries.”
NOK 100 million...Viking Growth has invested NOK 100 million in Inretrn, a Sweden-based AI driven returns management platform.
In a LinkedIn post, Viking Growth said: “Returns have become one of the biggest hidden costs in e-commerce. Nearly one in five online orders is returned, and retailers spend an estimated 17% of revenue handling returns. To help solve this challenge, we are investing in Inretrn, a Swedish SaaS company helping retailers automate and optimize complex post-purchase processes.”
It added: “Inretrn’s platform gives retailers an end-to-end solution for returns, exchanges, repairs, and claims handling, helping reduce costs, improve customer experience, and ensure products end up where they create the most value.”
“Handling returns has become one of the most costly challenges in the e-commerce process. Inretrn stands out with strong product depth and expertise, and with a customer base that confirms it is solving a real market need,” added Martin S. Eriksen, Investment Director at Viking Growth.
$80 million and $1 billion…Fresha, an AI powered marketplace and business management platform for the beauty and wellness industry, has announced an $80 million investment from funds managed by KKR. The transaction values it at over $1 billion.
Fresha's total capital raised to date now stand at $285 million. It says it will use the cash to accelerate global expansion and fuel product and AI innovation.
Headquartered in London and founded in 2015 by William Zeqiri and Nicholas Miller, Fresha is used by over 130,000 beauty and wellness businesses globally across key verticals including hair, beauty, barbering, nails, aesthetics, wellness, fitness, and spa. The platform facilitates more than 35 million appointments per month and over $15 billion in annual GMV.
Patrick Devine, Partner and member of KKR’s Tech Growth team, says: “Fresha has built a differentiated platform, combining software, financial services, and marketplace capabilities with embedded AI, in a way that is deeply integrated into daily operations of beauty and wellness businesses. We believe the company is well positioned to continue scaling globally as demand grows for modern, vertical-specific technology solutions.”
Marta Szczerba, Director in KKR’s Tech Growth team, adds: “We have followed William and the broader management team over the years, and have been highly impressed with the consistent performance they have been driving at Fresha. The team have been on the front-foot in implementing AI in a way that drives meaningful business outcomes, and we are thrilled to be embarking with them on the next chapter of Fresha’s journey.”
35,000...Virgin Atlantic has announced a live performance from British girl group Sugababes at 35,000 ft, streamed globally in real-time via the company’s Instagram page using Starlink Wi-Fi on Tuesday 26th May at 8pm.
Taking place onboard an Airbus A350 in the airline’s upper class social space, The Loft, Mutya Buena, Keisha Buchanan and Siobhán Donaghy will perform a selection of their biggest hits alongside a live Q&A, with fans able to submit questions and requests during the stream.
The performance is designed to demonstrate the power of Starlink’s high speed, low latency connectivity, which Virgin Atlantic is rolling out across its fleet. With speeds capable of supporting streaming, gaming, browsing and more across all cabins, the airline is aiming to fully connect its fleet by 2027.
Juha Jaervinen, Chief Customer Officer, Virgin Atlantic, comments: “This isn’t just about introducing Wi-Fi, it’s about showing what it can do. By livestreaming a performance from 35,000 ft, we’re demonstrating the power of Starlink to deliver a seamless, high quality connection in the air, just as our customers expect on the ground.”
“Sugababes are an iconic part of British culture, bringing generations together through their music, so they’re the perfect partners for a moment like this, connecting people in the air and on the ground in real time. As we roll out Starlink Wi-Fi across our fleet, this is just the beginning of a more connected, more flexible onboard experience.”
2...Xiaomi has announced the opening of its second store in London, located within Westfield London in White City. This will provide an immersive experience where visitors can explore Xiaomi’s full ecosystem - from flagship smartphones and wearables to tablets, smart home products, and connected lifestyle devices.
“The opening of our second store in London represents an important milestone for us in the UK,” says Kai Zhang, Country Manager at Xiaomi UK. “We are excited to further strengthen our retail presence in such a dynamic and international city as London, offering consumers a direct experience with our smart ecosystem and latest technological innovations.”
Xiaomi will host dedicated activities for fans and visitors during the grand opening event on 29th May, including exclusive offers, giveaways, and experiential moments.
4%...Currys’ performance was robust in its latest financial year and appears to have thus far escaped the worst of consumers tightening their belts amid the ongoing cost-of-living pressures exacerbated by the conflict in the Middle East.
Group sales grew 4% on a like-for-like basis, and adjusted PBT is expected to be £191 million, just ahead of the previously guided £180 million-£190 million, cushioned by the group’s ancillary B2B and services sales.
This resilience, along with £74 million cash returned to shareholders during this financial year, resulted in Curry’s share price rising by around 15% in early morning trading.
Outgoing group Chief Executive Alex Baldock’s stewardship has put Currys in a better financial position to weather this storm, but his successor must utilise that additional range of motion to bring the fight to the competition and maintain its position in the market.
Currys’ UK & Ireland performance of 3% like for like growth would at first glance appear solid but unremarkable. However, growth was primarily driven by services and B2B, which appear much more resilient to downturns, implying less impressive retail sales execution.
Oliver Maddison, Retail Analyst at GlobalData, says: "While it is rational to pursue services and B2B as a means of growth - services yield recurring revenues and higher margins, and AO’s scaling back of its B2B offering leaves a gap to fill - Currys must be careful not to neglect its retail proposition in this next financial year."
"Both revenue streams fundamentally rely on a strong presence in the electrical retail sector to drive sales; B2B uses the same infrastructure and trades off the same brand, while service sales, even recurring service sales, complement electrical purchases. If Currys allows its retail infrastructure to stagnate, it will impede both its name recognition among business customers and have fewer retail customers to sell services to."
“Baldock noted that recent trading had yet to see much impact from the conflict in the Middle East, suggesting that the sector remains supported by replacement driven sales, but it is at risk from consumers trading down or deferring non-essential spend throughout this year. However, it is online pureplays that are and will continue to be a significant threat to the current market lead in the UK electricals sector."
Rival specialist AO saw B2C retail revenue growth of 9.5% in its FY2025/26 to 31st March 2026, and Amazon is getting dangerously close to taking Currys’ top spot in the UK electricals market.
"To effectively take the fight to its pureplay rivals, Baldock’s successor must leverage Currys’ key point of difference by emphasising the accessibility of its store locations and the expertise of its staff in helping to cut through the choice paralysis created by its range," says Maddison.
£10.3 million...Searchable has raised £10.3 million ($14 million) at a £62.9 million ($85 million) valuation in a funding round led by venture capital firm Headline (backers of Semrush, Bumble, Farfetch, and Sonos).
Following the company's launch in January, Searchable says it achieved £1.4 million ($2 million) in annual recurring revenue in under 4.5 months and has an annual recurring revenue of £2 million. It plans to accelerate product development across its execution engine and expand its presence in both the US and UK markets.
Dominic R. Wilhelm, Partner at Headline, says: “AI driven discovery is rewriting how customers find products, and the economics are moving fast. As more searches are answered directly by AI, brands that are invisible in this layer of search will simply see less demand. The companies that adapt first will protect and grow market share; those that don’t will lose it quietly.”
“We backed Semrush early as the category leader and exited following its IPO at around a $2 billion market cap. Now, we see a new generation of businesses coming up and Searchable is primed to win this market, which is why we are ecstatic to lead the current round."
Wilhelm adds: “We see Searchable becoming part of the core infrastructure for this shift, not just reporting on what AI engines say about a brand, but directly improving the visibility and revenue outcomes that matter to management teams and boards.”
$17 million...Blink, an employee experience platform for frontline workforces, has raised $17 million in funding from Enlightened Hospitality Investments (EHI), the growth equity fund affiliated with Danny Meyer’s Union Square Hospitality Group (USHG). And it has also announced a new global partnership with Shake Shack following an integration of its workforce management solutions.
“We are excited to partner with Danny and the EHI team and believe that their commitment to delivering Enlightened Hospitality is more relevant now than ever,” says Sean Nolan, Founder and CEO at Blink.
“We also are thrilled to launch with Shake Shack, an industry leader who shares our commitment to a strong corporate culture that begins on the restaurant floor. As we embark on this next chapter of growth, we look forward to partnering with forward thinking brands who are empowering their people to win in this competitive market”
Blink will use the funds to invest in its product and engineering teams and drive innovation across its AI powered platform, while also accelerating its go to market strategy to reach more customers across the hospitality industry and beyond.
“I have always believed that Enlightened Hospitality - the ethos that when you take care of your people, your people take care of your customers - is how to create sustaining success in any business," says Danny Meyer. "Blink’s technology puts people first by making sure team members are equipped and supported so they can, in turn, deliver their very best. Its smart technology will help shape the future of restaurants."
1...Online and in-store footwear retailer, Shoezone, has launched its first social shopping channel on TikTok Shop. It joins brands such as Puma, Soletrader and EGO on the platform.
Creators can now link to products directly through TikTok Shop, with the aim of helping connect trend led social content directly with product conversion.
Initial objectives for the strategy include increasing social reach and engagement, driving follower growth across Shoezone’s channels and growing product sales through TikTok Shop integrations and creator partnerships. Alongside increased creator led product promotion through TikTok Shop partnerships, the retailer has expanded its TikTok strategy with the launch of new ‘street interview’ style content, featuring real consumers discussing their fashion preferences and relationship with the brand.
A spokesperson for Shoezone says: “TikTok continues to play an increasingly important role in how younger consumers discover brands and products. By combining vox pop content with creator led TikTok Shop partnerships, we’re able to create engaging social content while also delivering strong commercial results. The strategy allows us to react quickly to trends, connect with Gen Z audiences and continue growing awareness of the shoezone brand.”
£7 million...Specsavers has kicked off a £7 million expansion of its Kidderminster Vision Labs manufacturing site. It says that this investment will see weekly lens output increase by 22%, while adding space for new automated technology and delivering improved facilities for staff.
Announced at a ceremony attended by the Deputy Mayor of Kidderminster, Councillor Shazu Miah, work is now under way on two existing buildings at Vision Labs - one of three Specsavers manufacturing and distribution facilities in the town. When complete, the total building size will grow from 6,319 to 7,544m², and weekly lens production will rise from 139,000 to 169,000 units - helping to support the 900+ UK Specsavers stores that are supplied from the site.
New production technology will eliminate several steps in the current manufacturing process, increasing lens yield per square metre and requiring an up-skilling of the existing workforce. The expansion will also deliver more efficient electricity use, reduced water consumption and a lower overall carbon footprint for the site.
Shafi Ahmed, Head of Operations at Vision Labs, comments: “This expansion is a direct result of growing demand for Specsavers’ services in the UK. With bigger sites and better technology, we are strongly positioned to continue to deliver quality eye care to communities across the UK.”
$70 million and $2.1 billion...Multiverse, an AI powered workforce development platform fronted by Euan Blair (son of former UK Prime Minister Tony Blair), has raised $70 million in funding to drive growth across Europe. The round was led by Schroders Capital, with participation from existing investors including General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, Bond, and StepStone Group.
This bags the company, whose customers include Just Eat, Addison Lee, and Debenhams Group, a $2.1 billion valuation, a $400 million increase on the last funding round.
"There are companies who desperately need the benefits AI can bring. There are AI companies. What has been missing is the layer that bridges the two," says Blair. "This investment marks the moment Multiverse defines that category, and takes it across Europe. Getting outcomes from AI and unlocking productivity is not just a technology problem. It is a people problem. We exist to solve it."
Chancellor of the Exchequer Rachel Reeves says: “We want Britain to achieve the fastest rate of AI adoption of any country in the G7 - the productivity dividend we can get from AI will grow businesses of all shapes and sizes in the UK and ensure they stay competitive. Multiverse is a fantastic example of a British company helping turn that ambition into reality. This investment will support its expansion across Europe, strengthening a UK firm that is competing globally and equipping people with the skills to make AI work in practice.”
