Getting ready for a right royal knees up: 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 3D Cloud by Marxent, Secret Sales, Shein, Red Ant, Shopify, Carrefour, and Pricer.
100…The latest edition of the RTIH Top 100 Retail Technology Influencers List has arrived!
Here are the people who made a splash in 2022 and are set for a barnstorming 2023.
RTIH has scoured the retail technology world to find the most influential figures for this comprehensive list of people and trends that shape the industry and help drive it forward.
We’re living in unprecedented times.
The Covid-19 outbreak has driven a seismic change in shopping habits, with checkout free stores, automation in the supply chain, rapid delivery services, and the metaverse making waves.
Such disruption requires new ways of problem solving and thought leaders who can both evangelise and execute on the likes of digital transformation and omnichannel success.
Which is where the RTIH Top 100 Retail Technology Influencers List comes in, presented, we should stress, in no particular order.
We hope you enjoy reading through it and, as always, if you would like to give feedback or believe that there are some glaring omissions, please feel free to get in touch here.
Download the list in pdf format here.
Or read via Issuu.
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28,000…Data from PayPoint’s network of 28,000 retailer partners reveals what products the UK public have been buying ahead of the King’s Coronation on Saturday, 6th May.
Analysis of sales over April 2023 versus April 2022 show a marked increase in products essential for any street party or celebration with family and friends, as Brits stockpile everything they need for the bank holiday weekend.
Top products included striped paper straws (+1,100%), plastic cups (+600%), plastic spoons (+400%), foil trays (+209%) and cocktail sticks (+200%).
£128 million…With many Brits planning to celebrate the Coronation weekend at restaurants, parties and so on, the event is set to leave a £128 million hole in UK online spending – equivalent to a fall of 26.6% on online spending compared with the same weekend period in 2022, according to Adobe.
$10 million…Secret Sales, non-full price marketplace for fashion, sportswear and beauty brands, has raised $10 million in a Series B funding round.
This comes two years after the company’s first round of funding, which raised €10 million in June 2021.
Series B investors included ePerwyn, Belerion Capital, and Big Ideas Group.
$7.5 million…US-based 3D Cloud by Marxent, a 3D product experience platform for furniture and home improvement retailers, has raised $7.5 million in a Series D round of funding.
This was led by Tampa-based entrepreneur and board member Arnie Bellini with additional support from Lee Arnold, Executive Chair at Colliers International Florida and a long-time investor in the company.
The round increases 3D Cloud by Marxent’s valuation to over $135 million. It has raised $42 million in total to date.
$70 million…Shein is to invest $70 million in supply chain initiatives over the next five years.
The fast fashion retailer, which has faced a barrage of criticism related to ethics and sustainability, is aiming to “support and empower third-party manufacturing suppliers, their workers and workers’ families”.
It is also looking to invest in "cutting-edge innovation exploration, research and training."
1,000…A2Z Smart Technologies Corp. has announced a new customer partnership with HaStok Concept, an Israel-based home design and household essentials chain with 40 stores across the country.
The tie up marks an expansion for A2Z's smart cart solution into a new vertical outside of grocery retail.
The purchase order is for 1,000 smart carts and is comprised of an upfront payment, a guaranteed monthly payment, and a revenue share agreement on added value solutions, such as advertising.
68%…A survey of UK retailers by Red Ant reveals retailers’ biggest challenges and drivers for success in 2023.
68% claim personalised services is their key driver for retail tech investment in 2023 – while personalising the customer experience has overtaken data integration to become brands’ biggest challenge (for 30% of respondents).
This year siloed data came a close second with 23% identifying it as their biggest challenge.
The research, conducted by Red Ant at Retail Technology Show in London last week, assessed 100 retailers’ tech investments since 2022.
On a positive note, 20% of respondents claim their retail budgets have increased in 2023 and 77% of retail tech budgets stay the same as 2022.
400…Lindex is set to deploy the Nedap iD Cloud platform. The roll-out involves 400+ of its stores across the Nordics, the United Kingdom, and eastern Europe.
Florian Westerdahl, Head of Technology at Lindex, comments: "As part of our digitalisation strategy, we need to uniquely identify each item. This eventually leads to full item visibility throughout our supply chain.”
“We selected Nedap because of its proven track record, both in the Nordics and on a global level. The company's leading technology, pragmatic approach, willingness to truly seek and understand where we want to go to and the clear and transparent model also contributed to our decision to start our RFID journey with Nedap.”
“The unlimited access to RFID data in iD Cloud lays the ideal foundation to optimise our inventory information across all customer touchpoints. This way, we always have the right product available across all sales channels without overstocking, allowing us to meet customer demand sustainably."
3…Carrefour has picked Pricer as its exclusive supplier of electronic shelf label (ESL) solutions for the next three years.
This covers new installations and replacements as the French retail giant looks to boost its store automation and communication solution.
The deal with Carrefour, which has been a Pricer customer for the past 20 years, contains no commitments with regard to volumes or amounts.
20%…Shopify is laying off 20% of its workforce, impacting more than 2,000 people, and is selling its logistics business to Flexport for roughly 13% in stock.
In an online post, Shopify CEO, Tobi Lutke, said: “We are changing the shape of Shopify significantly today to pay unshared attention to our mission.”
“There are a number of consequences to this, and I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today. I recognise the crushing impact this decision has on some of you, and did not make this decision lightly.”
86% of retailers believe having a strong in-store omnichannel strategy is important for success, according to research by M-Cube.
The study, which surveyed 250 retail leaders in the UK, found that 76% of businesses believe omnichannel retailing is key to success in the next five years. 62% also prioritise omnichannel capabilities over other strategic initiatives.
59% feel that physical stores will remain important in this world, with 21% saying this importance will grow. In fact, since implementing omnichannel strategies, 69% of businesses have seen an increase in sales or revenue.
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