04/11/2024
๐ฅ๐ฒ๐๐ฎ๐ถ๐น ๐ฅ๐ผ๐๐ป๐ฑ๐๐ฝ: ๐ง๐ต๐ฒ ๐๐ฎ๐๐ฒ๐๐ ๐ช๐ถ๐ป๐ ๐ฎ๐ป๐ฑ ๐ ๐ผ๐๐ฒ๐ ๐ถ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ๐ฎ๐ป ๐ฅ๐ฒ๐๐ฎ๐ถ๐น
Growth is on the cards for many European retailers, despite challenging times. With sustainability and customer experience two of the hottest topics in retail right now, some brands are stepping up to the challenge to prove that theyโre good for growth.
Here's a roundup of the latest developments:
๐ฉ๐ถ๐ป๐๐ฒ๐ฑ ๐๐
๐ฝ๐ฎ๐ป๐ฑ๐ ๐๐ถ๐๐ต ๐๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐
Europeโs leading second-hand marketplace, Vinted, has recently closed a secondary share sale of โฌ340 million. The Lithuanian brand now has a value of โฌ5 billion.
The sale of shares diversifies the companyโs investor base and validates a growing trend among consumers to buy second-hand and change their shopping habits.
Vinted has begun rolling out a new electronics category and expanded its shipping business in the Netherlands, Belgium, and France.
Thomas Plantenga, CEO of Vinted, said: โWe are incredibly proud to have built a product that our members love to use, and that has created a market for second-hand fashion. Vinted shows itโs possible to have a successful, profitable business that positively impacts people, communities, and the environment.โ
๐๐ถ๐ฑ๐น ๐ง๐ฟ๐ถ๐ฎ๐น๐ ๐ฆ๐ฐ๐ฎ๐ป & ๐๐ผ ๐ฆ๐ต๐ผ๐ฝ๐ฝ๐ถ๐ป๐ด ๐๐ถ๐ฎ ๐ถ๐๐ ๐๐ฝ๐ฝ
German supermarket chain Lidl is testing a scan & go function within its own app.
Itโs hoped that giving customers the ability to use their smartphones to scan groceries will speed up the checkout process.
It is trialling the software at a branch close to its Neckarsulm headquarters.
Like most scan & go technology, shoppers will scan the bar code on items but use their phone rather than an in-store scanning device. For loose items like fruit and vegetables, shoppers will scan a QR code to enable scales that print labels. If successful, the technology could be rolled out to more stores in the future.
๐ช๐ถ๐ฏ๐ฟ๐ฎ ๐ข๐ฝ๐ฒ๐ป๐ ๐๐ถ๐ฟ๐๐ ๐ฆ๐๐ผ๐ฟ๐ฒ ๐ถ๐ป ๐๐ฟ๐ฎ๐ป๐ฐ๐ฒ
Dutch discount store chain Wibra has opened its first store in France, near Lille.
The chain has had a hugely successful year, breaking both its profit and sales records in 2023, and hopes to open two more French stores by the end of 2024.
CEO Bas Duijsens tries to manage ambitions: โWe will first test what works here and what does not, and then make adjustments accordingly.โ
Wibra is confident that there is a strong market in France and, having piqued shoppersโ interest with its first store opening, hopes to win more market share.
๐ญ๐ฎ๐น๐ฎ๐ป๐ฑ๐ผ ๐๐ฎ๐๐ป๐ฐ๐ต๐ฒ๐ ๐ก๐ฒ๐ ๐ฉ๐ถ๐ฟ๐๐๐ฎ๐น ๐๐ถ๐๐๐ถ๐ป๐ด ๐ฅ๐ผ๐ผ๐บ ๐๐ถ๐๐ต ๐๐ฒ๐๐ถโ๐
German-based fashion retailer Zalando has teamed up with Leviโs to create an AI-powered virtual fitting room.
The technology lets customers create a 3D model using their own measurements to see how the clothes fit on the body. Previous tests using earlier versions of the virtual fitting room showed a reduction in returns of up to 40%.
Fabio Baum, General Manager Benelux & Nordics at Zalando, said: โUsing an AI assistant to choose an outfit is much more fun than browsing through our huge catalogue. Such an intuitive conversation works much better than classic search filters.โ
๐๐ผ๐ป๐ฐ๐น๐๐๐ถ๐ผ๐ป
The retail market remains challenging, but new retail brands that are embracing changing consumer habits and improvements in customer experiences are boosting the outlook for European retail. Bold brands, looking to explore new technology and audiences are leading the way for others to follow suit and are being rewarded with big gains.
As the retail market continues to experience turbulence, weโll keep you up to date with whatโs happening and which retailers are making bold decisions.