This week in Retail & Consumer Goods: Virtual reality & data analytics solutions in high demand as retailers seek to revamp consumer experience
Latest Industry Insights from Draup Braindesk
Providing a better-personalized experience to the customers has helped retailers
increase their revenue and retain more customers
Target is using its startup accelerator programs to improve the company’s in-house data analytics and adopt new tools and technologies to connect with customers online and in-store & offer real-time recommendations and personalization
Leveraging AWS’s solutions, Amway designed and implemented an IoT solution and launched its first Internet-connected products
Kroger launched ‘Kroger Pay,’ a mobile payment program in its grocery app that integrates shoppers’ payment information, loyalty points, digital coupons, and personalized recommendations to provide customized QR-based payment options at checkout
Smart Store solutions deployment and connected shopping enablement are some of the major areas big retailers are investing in to enhance customer experience and store operational efficiency
Fynd developed ‘GlamAR,’ is a virtual solution for make-up & beauty products that enables real-time sampling of products with personalized recommendations based on skin tone & facial features
Alibaba integrated its Tmall Genie, smart speakers with Starbucks’ platform for voice ordering to develop Starbuck’s branded version of smart speaker & enhance customer engagement
Sobeys and Caper partnered to provide smart shopping cart that leverages AI & sensors to scan & weigh the items with a touchscreen displaying all the items & enable checkout through cart only
Predictive Analytics is utilized for Behaviour Analytics, Customer Journey Analytics, and Trade Promotions Optimization
Truefit partnered with Google Cloud making it easy for retailers to leverage the fashion genome, the largest connected data set for fashion. Retailers can use the Fashion Genome to insert style, fit, and size recommendations into every phase of the customer journey
Staples uses analytics for dynamic pricing by identifying various opportunities for price optimization to generate incremental revenue and margin.
Metcash implemented Complexica’s Artificial Intelligence Software for providing a cloud-based platform for automating and optimizing promotional planning.
Latest Reports Published in Draup
Cloud Services in Retail and CPG Ecosystem – June 2021
Retail companies are shifting towards the use of cloud technologies to provide better services to their customers. The need for online ordering and delivery increased a lot due to the pandemic. As an effect, many retailers migrated their platforms on the digital front. Read More>>
Honeywell International Account Intelligence Report – June 2021: Honeywell’s recent initiatives focus on enhancing its solutions to improve customer experience. Through this model, Honeywell will position its future goals in improving their capabilities across digital offerings. Read More>>
Key Funding Alert
Spinny raises USD 108M in Series D round led by Tiger Global
Spinny, the Gurugram headquartered used car retail platform startup, will use the fresh capital for growth-related initiatives which include market expansion, technology development and hiring. Following this funding round, Spinny has raised USD 230 Mn cumulatively. Read More>>
Startup Spotlight
Company – Productsup Total Funding – USD 20 Mn HQ Location- Berlin Area, Germany About: Productsup empowers brands and retailers to reach more customers on more channels and maximize sales. The company’s pioneering syndication platform enables leading global companies like IKEA, Aldi, and Sephora to successfully aggregate, optimize, and distribute product content across more than 2,500 marketing, eCommerce, and retail channels. Read More>>
Key Insights and Signals in Draup
Centre set up and Expansion Magnit starts rolling out queue video analytics The system allows promptly detecting queues at the checkout counters and inform store employees that they need to open an additional register. The technology has already been installed in 60 Magnit Family supermarkets and Magnit Extra superstores; 21 more stores will be equipped with the system by the end of September. Magnit installs video analytics equipment in the checkout area, including both regular sales counters with cashiers and self-checkout terminals. Read More>> Retailer ASOS to spend USD 100 Mn to automate Georgia warehouse
ASOS initially invested more than USD 40 Mn in the warehouse which opened in 2018, saying it would grow to 1,600 workers. The company said it would create an unspecified number of new engineering and software development jobs. ASOS CEO Nick Beighton said the work would streamline the warehouse, which ASOS relies on to distribute products across the United States. Read More>> Kroger automates, expands distribution center
The Kroger Co. has entered into a supply chain automation partnership with Knapp, an intelligent intralogistics solutions provider, to deploy, expand and enhance the capabilities and capacity of the retailer’s existing Great Lakes Distribution Center, in Delaware, Ohio. The facility is currently being renovated to add modern state-of-the-art technology, which is expected to be completed this summer. Read More>>
Deal and Deal Renewal Meituan to trial delivery by drone in Shanghai Chinese lifestyle service and food delivery giant Meituan plans to trial a drone-enabled delivery network in Shanghai, expanding the use of its autonomous logistics services. The network, located in a demonstration zone in the city’s Jinshan district, will be supported by ground facilities like landing spots and battery swap stations, as well as a cloud-based dispatch platform to ensure each drone can send an order to its destination in 15 minutes in a radius of 3 kilometers. Read More>>Partnerships C&A and Zalando start connected retail in Switzerland The expansion into Switzerland means that customers in the region can now order selected products from the current C&A collections via Zalando. The brand will continue to rely on offline trading and will continue to operate the 96 branches currently open, but intends to explore new avenues to ensure that all customers are catered to in their preferred manner. Read More>> Bed Bath & Beyond (BBBY) points digital edge, partners with Roadie Roadie is a crowdsourced delivery platform with a strength of more than 200,000 verified drivers across the country. The collaboration with Roadie is likely to strengthen the company’s Same Day Delivery service and enhance the experience of Bed Bath & Beyond customers. Read More>> Walmart teams up with Symbotic to implement industry-leading supply chain automation system The high-tech automation system will be installed in 25 Walmart regional distribution centers, building an efficient and frictionless retail experience. By implementing Symbotics’ system, Walmart will better modernize and digitize its existing supply chain facilities to support evolving customer demand and create a frictionless experience. Read More>> PhonePe to help digitize cash-on-delivery orders on Flipkart PhonePes QR code solution will now enable customers who earlier opted for cash on delivery to pay digitally through any UPI app at the time of delivery. Digital payments adoption has become widespread over the past few years, thanks to UPI. However, there still continues to be a preference for cash on delivery among some customers at the time of delivery. Read More>> Carrefour Belgium teams up with Google Cloud for digital transformation The retailer is building a new data cloud and migrating its data centers to Google BigQuery for storage and analysis. The initiative aims to streamline the supply chains and deliver hyper-personalized customer experiences as part of the next phase of the retailer’s digital transformation. The new data cloud will enhance its access and analytics capabilities for its extensive product, consumer, and supply chain data sets. Read More>>Mergers and Acquisition Shinsegae acquires eBay Korea in USD 3 Bn deal as e-commerce booms Shinsegae’s supermarket affiliate, E-Mart, will acquire 80% of eBay Korea, the U.S. e-commerce site. The deal allows eBay Korea and E-Mart to set up an ecosystem that sells everything from groceries to general merchandise, the statement said. The deal will also enhance E-Marts same-day delivery capability and improve the use of capacity at its warehouses for goods to be shipped by e-commerce. Read More>>Executive Movement Burlington Stores appoints President and COO Travis Marquette will be overseeing and managing the company’s stores, real estate, supply chain, and information technology functions. Read More>> Big Lots appoints Gurmeet Singh as Chief Technology Officer Mr. Singh will report directly to Bruce Thorn, President and Chief Executive Officer of Big Lots. Most recently, Mr. Singh was the Group Chief Digital Officer at the Al Futtaim Group in Dubai, leading all technology, data, and digital efforts for the conglomerate. Read More>> Qurate Retail, Inc. announces David Rawlinson II as next President and CEO David Rawlinson 2nd, a technology and media executive, will become president and chief executive officer of Qurate Retail Inc. on Oct. 1, succeeding Mike George after a two-month transition period starting Aug. 1. Read More>> Magnit announces the appointment of e-commerce director Andrey Lukashevich will be responsible for shaping the strategy and executing the roll-out of digital sales channels, establishing and developing the e-commerce infrastructure, and ensuring the e-commerce business achieves its key financial targets. Read More>> Belk announces new chief executive The Belk department store chain said it has promoted Nir Patel to the position of chief executive, effective immediately. Lisa Harper, who had been chief executive for five years, has become executive chairwoman. Patel had been serving as Belk’s president and chief merchandising officer and has been with the business for five years. Read More>>
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