Top Retail Technology Stories
Here’s a recap of the retail technology articles that captured readers’ attention last week, featuring developments from major players like Kenvue, Unilever, and Amazon, as well as innovative startups.
Kenvue Opens New Headquarters
Kenvue, the company behind household brands such as Neutrogena, Listerine, and Tylenol, recently celebrated the grand opening of its new 290,000 sq. ft. global headquarters in Summit, New Jersey. The new facility includes an Insights Lab, a Virtual Experience Room, a Sensory Lab, and a Design Lab, all designed to enhance product development and consumer engagement.
Unilever Doubles Down on Influencer Marketing
Unilever is increasing its investment in social media influencers. This strategic move is driven by the shifting media consumption habits of consumers. According to the company, people are becoming more skeptical of traditional corporate branding.
Thomas Walters, Europe CEO and Co-Founder at Billion Dollar Boy, a creator agency and partner to Unilever brands, noted the shift toward digital media.
This strategy reflects a broader trend of moving away from traditional advertising toward digital media. The global social ad spend worldwide is projected to grow significantly by 2030.
Amazon Reevaluates Physical Retail with Just Walk Out Technology
Amazon’s decision to merge the teams behind its Amazon Go and Fresh stores suggests a strategic shift. Streamlining operations around its cashierless technology, known as Just Walk Out, across both formats is a smart play to cut costs because scaling this technology has proven challenging.
This comes as Amazon reevaluates its ambitions in the bricks and mortar space, consolidating its approach to the grocery and convenience store markets.
Temu Implements New Technology from Google
Temu is integrating new technology from Google to combat “banner blindness” among online shoppers. The technology enables e-commerce sites to dim the area around pop-ups and other on-screen dialogues, helping to ensure shoppers don’t miss them. Google reports that Temu has reduced invalid screen touches by about 5% using the new feature.
Spangle Secures Seed Funding
Spangle, an AI-powered e-commerce startup, has secured a $6 million seed round. The startup is focused on creating custom landing pages for online shoppers based on their search queries and browsing behavior. Their approach aims to bridge the customer experience gap.
CeX and Just Eat Takeaway.com Partner on Rapid Delivery
CeX, the retailer specializing in pre-owned games and electronics, has partnered with Just Eat Takeaway.com to offer rapid delivery. This collaboration brings tech and gaming products to the Just Eat platform, providing customers with more options for swift delivery.
Buynomics Raises Series B Funding
Buynomics, an AI-powered pricing and revenue optimization firm, has secured $30 million in Series B funding. The funding will be used to support global expansion and enhance its Virtual Shoppers AI technology.
Other Notable Items
- Former Asda executive Dan Owens commented on the “sensationalist” coverage of the IT upgrade.
- Co-op and Uber Eats announced a three-year extension of their rapid grocery delivery partnership.
- Lucy Jones, formerly of Asda, has joined Resulting IT.
