RTIH Newsletter 23.10.24

Hello everyone,

This week is your final chance to submit entries for the 2024 RTIH Innovation Awards! The deadline is fast approaching, with entries closing this Friday, 25th October.

Don’t miss out on the opportunity to showcase your company’s achievements and be recognised for innovation in the retail tech industry.

Whether you’re leading the way in AI, omnichannel strategies, or sustainable retail solutions, the RTIH Awards celebrate the very best in the field. Get your entries in before the deadline!

Now, let’s dive into the latest news and insights from the world of retail technology:

Intel first onboard as Future Stores blends retail and digital innovation on London’s Oxford Street

A new retail store opens its doors on Oxford Street this week, ahead of its official launch on 30th October, with those behind it promising a new era that blends the latest technology powered by Intel Corporation, bricks and mortar as well as state of the art graphics.

Future Stores is laying claim to a ￡20 million investment in a personalised experience that, according to a press release, is “as fluid as a social media feed, featuring a rotating lineup of brand ‘showcases’ or ‘activations’ that will change every two to six weeks”.

“Today’s shoppers are driven by TikTok length attention spans, and traditional retail simply can’t keep up with Gen Z and Gen Alpha,” says Ariel Haroush , Founder and Chair at Future Stores.

“Intel’s commitment to pioneering innovation is matched by our dedication to collaboration, so we are excited to work with Future Stores as the first to take up residence on Oxford Street.” says Steve Shakespeare , Sales Director at Intel.

Noble Macmillan boosts customer journey with Confer With immersive live video shopping technology

Live commerce startup Confer With - Live Shopping has announced a new partnership with luxury British brand, Noble Macmillan London .

In a LinkedIn post, Teresa Lawrence , Director at Confer With, said: “We're committed to delivering exceptional online experiences, and we’re excited to help elevate Noble Macmillan’s customer journey with our immersive live video shopping technology.”

Fellowes connects with 3D Cloud as workplace solutions firm leapfrogs into world of 3D product visualisation

Fellowes Brands , which operates in the contract interiors space, is partnering with 3D Cloud , a specialist in 3D product visualisation and 3D digital asset management.

"We needed a solution that would allow us to work faster and smarter," says Todd Holderness , GM, Contract Interiors at Fellowes. "With 3D Cloud, we're able to streamline the visualisation of complex modular products like never before."

"Fellowes has been deliberate in selecting the right partner, and we're thrilled to help them leapfrog into the world of 3D product visualisation," says Beck Besecker CEO and Founder at 3D Cloud.

UK retail technology company Jisp sets sights on sustainable growth following strategic review

Jisp , a UK-based startup which recently celebrated the three-year anniversary of its Scan & Save app, reports that following a strategic review the business has launched a new long-term growth plan, the aim of which is to enable it to scale sustainably for the future.

The new strategy and planning team is made up of CEO Julian Fisher , Retail Director Esther Lawrence , Operations Director Joe Tobias , and Matthew Wilkinson as Sales Director and Alex Rimmer as Marketing & Communications Director.

Retail Technology Show extends e-commerce content and connections tie up with Commerce Futures at RTS 2025

Retail Technology Show is extending its partnership with Commerce Futures , an e-commerce event and networking specialist.

Matt Bradley , Event Director at Retail Technology Show, comments: “Commerce Futures live and breathe e-commerce through their handpicked retail community. And that’s why they delivered such a knock-out track last year – and our show audiences just couldn’t get enough of it.”

Ocula announces ￡4 million Series A funding round alongside new AI powered e-commerce solution

UK-based AI driven e-commerce solution provider, Ocula Technologies , has closed a ￡4 million Series A funding round.

The includes investments from NYO Capital and Jose Luis Gomes, and follows a ￡3.25 million led by Praetura Ventures in August.

“Bringing in industry experts like NYO and Jose is testament to what we have developed and how much potential people can see in our AI product. Optimised e-commerce product pages are critical to achieving profitable growth and our tool unlocks that for clients effortlessly,” says Thomas M. , Co-founder at Ocula Technologies.

Spotlight on Our Sister Title: EDTech Innovation Hub

Some of you may already be familiar with and following our sister title, EDTech Innovation Hub (ETIH), on LinkedIn, which covers the latest in educational technology. For those who aren’t, it’s a great resource for staying informed on how technology is shaping the future of education.

Here are a few recent stories from ETIH that we think will interest you:

Transact Campus and Ellucian strengthen partnership to improve SaaS payment solutions for higher education

Transact Campus and Ellucian have announced an expansion of their strategic partnership, designed to improve the integration of payment systems for higher education institutions.?

The shift to SaaS is becoming more common in the higher education sector, and this partnership aims to meet the growing demand.?

Chris Setcos , SVP of Partnerships, M&A, and Corporate Strategy at Transact, commented:

"Transact and Ellucian are excited to expand our partnership in a new strategic direction to best serve our current and future joint clients together."

Jeff Dinski , Chief Strategy and Corporate Development Officer at Ellucian, stated:

"Ellucian has always been committed to driving innovation exclusively for higher education."

Global study reveals Generation Alpha's growing influence on digital economy

A new global study conducted by digital payments company Checkout.com has revealed the growing financial influence of Generation Alpha, defined as children born after 2010, on household spending in the digital economy.?

Rory O'Neill , Chief Marketing Officer at Checkout.com, stated: “It’s clear that Generation Alpha is playing a major role in the digital economy. The younger generation is going beyond using social channels for discovery, but actually purchasing through these platforms."

Circana research flags modest gains in 2024 back to school tech sales as consumers lean heavily on promotions

United States back to school technology sales for 2024 showed a 1% revenue increase over last year, with average selling prices (ASPs) rising by 2%, according to research by consumer behaviour specialist Circana .?

Among the 24 technology category groups tracked, 15 groups experienced a year-over-year decline, while nine groups saw positive growth, reflecting the ongoing caution consumers are exercising in the current economic climate.