It’s Friday, the weekend is almost upon us, so let’s kick back and reflect on another eventful week for the retail systems space. Here’s your briefing on the most important stories from the past five days, including Polytag, Marks and Spencer, Retail Insight, The Home Depot, Hugo Boss, Zippin, and OneStock.
1. Polytag announces single-use plastic packaging recycling scheme with high street giant Marks and Spencer as founding partner
Polytag has announced M&S as a founding member of its Ecotrace Programme, an initiative focused on the tracing and recycling of single-use plastic packaging in the UK.
This will deploy a network of Polytag’s Invisible UV Tag detection equipment in strategically chosen recycling centres that handle high volumes of waste.
FMCG brands, retailers, and waste management businesses are invited to get involved in the programme to unlock granular data on over 50% of the UK’s household waste recycling stream.
As a founding member of the programme, M&S, will gain real-time insights into where, when, and how much of its single-use plastic packaging is collected and sorted at recycling centres across the UK.
This data – at barcode level – will provide a verified benchmark for understanding recycling rates of its used plastic packaging.
2. Marks and Spencer notches up a first with completion of high street giant’s first ever Clothing, Home and Beauty hackathon
The event was all about innovation and problem solving as 17 teams focused on opportunities to better serve customers and run the Clothing & Home business.
From digital outfit recommendations to improving the M&S bra fit proposition, employees worked around the clock to bring to life digital first solutions.
Womenswear Director and sponsor for the event, Maddy Sillem (Evans), said “Well done to everyone who took part. I’ve been thrilled to support the event.”
“It’s been great to see teams come together from across business areas, stretching themselves and incorporating insight to keep colleagues and customers at the heart of solutions – all while using the power of digital to accelerate these strategic opportunities.”
3. OMS specialist OneStock scores $72 million investment for international expansion with particular focus on US market
OneStock, a provider of order management systems (OMS), has announced a $72 million investment from Summit Partners.
OneStock was founded in 2015 by CEO, Romulus Grigoras, and CTO, Benoit Baccot, to help retailers and brands navigate the increasing complexity of the omnichannel landscape and enhance overall customer experience.
The company’s cloud native solution provides a centralised platform designed to manage end-to-end order fulfilment and visibility and enable retailers to offer a ‘buy anywhere, deliver anywhere, return anywhere’ experience to customers.
“Since the beginning, we have been dedicated to creating smarter and more sustainable shopping experiences, and our partnership with Summit marks a thrilling new chapter in our journey, reaffirming our long-term commitment to innovation and growth in the retail technology space,” comments Grigoras.
“With Summit’s support and the benefit of their deep experience in the retail technology sector, we’re poised to accelerate our growth even further. Our clear ambition is to emerge as the number one global leader in the OMS category.”