Tag: retail

Pensa Systems raises $10 million to deploy inventory-tracking drones in retail stores

There are perhaps few retail tasks more time-consuming than taking stock of merchandise. Figuring out which products are in stock and which stock is likely to run low is a never-ending battle, as shoppers spend an estimated 40 billion hours picking things off shelves. It’s also error-prone — employees regularly misplace an estimated one in […]

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ThreeKit raises $20 million to generate 3D product renderings on the fly

Predictably, the vast majority of ecommerce customers prefer to visually preview products before deciding whether to pull the trigger. More than 90% tell Yellow Duck Marketing that they consider visuals the most important factor when buying a product, with 62% reporting that they judge products based solely on their colors. So if a picture of […]

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Bye, Barneys: Another Luxury Department Store Prepares to Shutter Locations

Some will call it karma. But whatever the cause, after filing for Chapter 11 bankruptcy protection in August, Barneys will be the next luxury retailer to end its legacy, following the demise of Henri Bendel last year. According to the New York Times, the 96-year-old retailer is being “sold for scrap.” Much to the chagrin […]

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A quick 5G guide: Separating reality from hype

Exactly one year ago, I wrote about the onset of “fake 5G news” — the increasing use of 5G as a buzzword to attract attention to otherwise non-5G products and services, which was already happening before 5G devices became available. Back then, Xiaomi lured media to an event for “the world’s first 5G commercial mobile phone,” […]

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India’s first Apple Store will reportedly be in Mumbai’s Maker Maxity

Apple has reportedly selected a site in India for the country’s first Apple Store, and is said to already be in the process of designing and building out the site. The location, says India’s Economic Times, is in Mumbai’s Maker Maxity — a mall servicing a high-end clientele including financial institutions and large businesses. According […]

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Forever 21 Announces Bankruptcy Filing and Plans to Close Over 100 U.S. Stores

Forever 21 store stands in Union Square in Manhattan on Sept. 12, 2019, in New York City.Photo: Drew Angerer (Getty Images) Has “fast-fashion” moved too fast? That’s the question many industry insiders are asking, after millennial and Gen Z fast-fashion favorite Forever 21 filed for bankruptcy late Sunday night, confirming concerns that had been mounting […]

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Standard Cognition to deploy cashierless tech at Polar Stadium

Unbearably long lines at sports stadium concession stands might soon become a thing of the past if Standard Cognition has its way. The San Francisco-based company this week announced that the Worcester Red Sox, the triple-A affiliate of the Boston Red Sox, will be one of the first clients to deploy its cashierless tech at a […]

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Amazon signs Climate Pledge to advance Paris Climate Accords goals by 10 years

During a news conference at the National Press Club in Washington, D.C. this morning, Amazon CEO Jeff Bezos alongside former United Nations climate leaders unveiled the Climate Pledge, where businesses commit to meeting the goals of the Paris Agreement 10 years ahead of schedule. Amazon will become the first signatory, pledging to reduce and offset […]

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Akeneo raises $45 million to help retailers track products

Akeneo, a product information management (PIM) solutions provider that aims to help brands deliver “enriched” retail customer experiences, today revealed that it’s secured $46 million to bolster its R&D as it accelerates its U.S. sales and marketing efforts. Growth equity investor Summit Partners led the round, which saw participation from existing investors Alven, Partech, and […]

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Cashback and rebate startup Ibotta secures funding at a $1 billion valuation

Ibotta, a startup whose platform doles out rewards for in-store and online purchases, today announced a series D funding round led by Koch Industries subsidiary Koch Disruptive Technologies, at a $1 billion valuation. The size of the raise wasn’t disclosed, but it comes after three previous rounds totaling roughly $85 million. CEO Bryan Leach said […]

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Gatik begins using robot vans to haul goods between Walmarts in Arkansas

Retail giant Walmart today revealed that it’s launched a pilot with Gatik, a two-year-old startup developing an autonomous vehicle stack for B2B short-haul logistics, to ferry customer orders between select store locations in Bentonville, Arkansas. The announcement comes months after the Arkansas legislature approved a Walmart-backed proposal allowing companies to test self-driving vehicles on public […]

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CommonSense Robotics announces ‘world’s first’ underground micro-fulfillment center

Israel-based CommonSense Robotics, a micro-fulfillment startup that last October launched its first autonomous sorting center in downtown Tel Aviv, today announced that it’s broken ground on what it claims is the world’s first underground automated warehouse, in partnership with one of Israel’s largest grocery chains. It’ll be located blocks from Rothschild Boulevard, in a parking structure beneath […]

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