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Presize Reveals the State of Sizing in Fashion E-commerce in Report

As E-commerce continues to become the preferred shopping method for fashion consumers, the most common approach to uncertainty over fit and sizing has been overordering.

According to a new report from Presize, the size solution company with the goal of bringing one billion perfectly sized garments to shoppers by 2023, currently only 2 percent of online fashion shoppers buy perfectly sized garments.

The insights study, which analyzed the top 100 European retailers including Zara, Adidas, Gucci, Louis Vuitton, Sezane and Asos, among others, aimed to understand the issues with sizing in the digital fashion industry. Of the companies, 77 shops have size charts on their product pages, 34 shops use size recommendation technology and nine shops do not offer any help with sizing.

Notably, data from Presize shows that not even 1 percent of shoppers click on size charts — finding them outdated. Of the 77 companies with a size chart, only 45 included measuring guides to explain how to navigate finding personal measurements to determine size. The authors of the report noted, by not having these guidelines, the companies made the size charts “meaningless.”

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Circular Economy Becomes Reality For Retailers Thanks To This French Startup

Need a new outfit for a party, a wedding, or an awards ceremony? Want something special to perk up a grey day? Don’t buy it – rent it. By doing so, you’ll be part of a circular economy revolution to use more and own less.

Imagine having a wardrobe full of clothes you only wear once or twice – but instead of discarding them in landfill, you just return them to the brand you got them from and rent a whole new set for the season ahead.

Imagine renting just about everything else you only use once in a while – equipment for camping, sports or home workouts, tableware for a Christmas bash, musical instruments and clothes your kids will soon abandon or outgrow anyway, medical devices, tools, luggage for your next world tour – you name it, if it’s not perishable, rent it.

A Circular Vision

That’s the vision of Lizee, a French startup providing eCommerce and logistics software as a service. They believe that the manufacturing of goods will be cut in half during the next 25 years.

“Together with our supply chain partners, we offer a turnkey solution for brands and retailers that want to quickly transition into the circular economy by renting and reselling their products,” said Tanguy Frécon, the company’s co-founder and chairman. “Brands are realizing that it makes business sense to produce fewer goods but make them more robust so they last longer. Producing for reuse derives a different type of margin. The products become the resources.”

Lizee’s offering comes just in time as retailers are facing groundbreaking regulations in France that forbid the destruction of clothing, cosmetics, electrical items, and other goods that haven’t been sold. The ban is part of a wide-ranging anti-waste law passed by the French parliament last year.

Tanguy Frécon is convinced sustainability and profitability go hand in hand. The rent and resell business model is a new channel for brands to interact with their existing customers and reach new target audiences.

“With these new circular business models brands and retailers can deliver their sustainable transformation, clear inventory without discounting, target new consumers, and boost margins,” said Frécon.

A Skyrocketing Business Model

The market is massive. Back in 2019, Tanguy was inspired by McKinsey’s State of Fashion Report which named end of ownership as one of the key consumer shifts retailers should prepare for. The report stated that “the lifespan of fashion products is being stretched as pre-owned, refurbished, repaired, and rental business models continue to evolve and consumers have demonstrated an appetite to shift away from traditional ownership to newer ways in which to access product.”

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Munich-based SaaS company commercetools acquires Frontastic: Here’s why

Commercetools, a Munich-based cloud-native headless commerce platform, announced that it has acquired Frontastic, developer of Composable Frontend Platform that unites business and development teams to build e-commerce sites on headless fast.

The acquisition comes two months after securing funds in a Series C round as the company focuses on broadening the reach of its commerce technology to support global enterprises and reinvent e-commerce.

“We’ve been partnering with the Frontastic team since the very beginning and see a huge market opportunity for their Composable Frontend Platform around the world,” says Dirk Hoerig, CEO and co-founder of commercetools.

“With this powerful combination, we’re bringing the MACH (Microservices, API, Cloud, and Headless) movement to the mid-market as well as to digital business teams so that more companies can benefit from modern commerce experiences,” he added.

Frontastic: What you need to know

Founded in 2017, Frontastic provides modern front-end technologies for commerce sites.

The company’s “Composable Frontend Platform” enables merchants and brands to build websites easily and fast on top of headless by removing complexity for developers. It is used by international brands such as Universal Music, Flaconi, and APG & Co.

“We’re excited to become part of the impressive commercetools growth story,” says Thomas Gottheil, CEO and co-founder of Frontastic.

He adds, “We created Frontastic to help enterprises build the best shopping experiences – regardless of which commerce platform they use. By joining forces with commercetools, we can support even more brands on a global scale.”

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Why Renting Is The New Buying – Industry Insights by SAP

In this episode, Tanguy Frécon, Co-Founder & Chairman at Lizee shares how Lizee helps brands and retailers reach both their growth and sustainability goals by expanding their rental business and extending the use of their products.

Consumers want to engage with brands that are sustainable — but there can be no sustainability without profitability. Lizee, one of the startups in the SAP.io Sustainable Futures program, enables brands to produce fewer, more durable, more sustainable goods and reach even more customers without sacrificing revenue. Tanguy Frécon, Co-Founder & Chairman at Lizee, speaks with host Tom Raftery about the real and potential benefits to retailers as they shift from a linear to circular retail economy.

Catch the episode here…

GreenPlat is first environmental startup to use blockchain

There are 2.90 dumps spread throughout Brazil , according to a survey by the Brazilian Association of Waste and Effluent Treatment Companies (Abetre). A difficult reality to deal with, but for five years now an environmental company called GreenPlat not only acts to mitigate the damages but also uses blockchain to track the correct path of waste treatment.

The Brazilian startup recently celebrated the milestone of more than 1 million tons of treated waste — with an average of thousand tons per day — which were accompanied by its platforms: PlataformaVerde, which serves the private sector, eae and CTR-e, for public entities. In addition to the garbage itself, its programs manage licenses, transport, raw materials and environmental indicators used in the process, such as water and carbon emissions.

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Too Good To Go Celebrates 1 Year Fighting Food Waste in the U.S.

Too Good To Go, the tech-for-good company powering the world’s #1 anti-food waste app, today celebrates its first anniversary in the U.S. and the impact it’s had fighting food waste across the country, from New York City, Washington, D.C. and Chicago to Austin, San Francisco and Seattle. Via the Too Good To Go app, available for iOS in the Apple store or Google Play for Android, the company has successfully connected millions of Americans with surplus from local restaurants, bakeries, cafes and grocery stores so delicious food doesn’t go to waste, or further contribute to the climate crisis.

The newest Intergovernmental Panel on Climate Change (IPCC) report, released last month, called attention to a shocking reality of the climate crisis, notably that food waste now contributes to 10% of all global greenhouse gas emissions—up from 8% in years prior. With this in mind, Americans now have an easy way to take action against food waste through the Too Good To Go app. In just one short year in the U.S., over 1.5 million Americans and 5,000 food businesses have downloaded the app, and collectively saved over 800,000 meals – the carbon footprint equivalent to 394 flights around the world.

“The U.S. has really embraced our super simple concept for saving surplus food, to the point where we’ve never seen this amount of impact and growth in a new market this quickly,” said Lucie Basch, Co-founder of Too Good To Go. “We’re so excited to bring our solution to even more U.S. cities in the coming months and we can’t wait to see what next year holds.”

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SAP.iO Foundry Munich Introduces New Mobility Startup Program with MHP Management- und IT-Beratung GmbH

September 10, 2021 — SAP SE (NYSE: SAP) launched a startup program focused on new mobility at SAP.iO Foundry Munich in collaboration with MHP Management- und IT-Beratung GmbH to address customer objectives and challenges in the mobility sector. Ten startups across the globe were selected by a panel of SAP experts, partners, customers, and investment funds to participate. 

Within this program, the B2B software startups will work closely with customers and MHP to unlock joint innovation efforts. The cohort will address multiple strategic areas throughout the equity-free program – from connectivity in transport and fleet management to battery charging and autonomous driving. 

“For sustainable, emission-free mobility, we need the innovative power of startups and the resources and opportunities of large corporates. SAP.iO Foundry Munich combines both in their new mobility program, and we at MHP are pleased to be able to actively support and promote the startups to make a joint contribution to a better future.” said Marcus Wieland, partner and strategic lead for future mobility at MHP. 

SAP.iO’s growing network of top-tier startup programs has paved the way for entrepreneurs to extend SAP’s portfolio with innovative software solutions for SAP customers. Throughout the 12-week program, the startups will gain valuable mentorship from SAP executives, leading industry experts, as well as access to SAP® technology, application programming interfaces (APIs), and opportunities to collaborate with SAP customers.  

The following startups were selected to participate in the new mobility program with SAP.iO Foundry Munich:   

  • 4.screen | 4.screen is building the first marketplace for in-car branded placements to connect businesses with drivers. They help local businesses reach customers within their car navigation screens when searching for points of interest and proactively recommend stops.
  • adiutaByte | adiutaByte offers flexible and scalable optimization algorithms through an easy-to-use and customizable web front-end for automated scheduling processes via software-as-a-service.
  • BlueSpace | BlueSpace.ai is an autonomous vehicle (AV) software company that leverages patented software with 4D sensors, proprietary mathematical formulas, high-quality state estimation, and optimized software implementation to calculate and process the full motion of objects in real time.
  • BOX ID Systems | BOX ID connects logistic transport assets with long-living IoT sensors. BOX ID offers greater precision of physical asset flows while providing insights into analytics and automation for stock levels, transports, pick-ups, and more.
  • ChargeX | ChargeX offers affordable and scalable charging infrastructure. With a simple and clear dashboard, customers can interact with the chargers and report on the charging processes. The all-in-one package makes charging infrastructure simple, scalable and easy to operate.
  • Compredict | Compredict allows fleet operators and vehicle manufacturers to gain deeper insight into how vehicles are being used. The solution provides data for different stakeholders to reduce CO2 emissions over the whole product lifecycle: from right-sized components, efficient vehicle testing, product durability all the way through to optimized maintenance and fleet operation.
  • Eccocar | Eccocar is a platform to launch, operate and scale digital mobility services, designed with rent-a-cars, dealers and fleet managers around the world.
  • gridX | gridX offers a platform for all decentralized energy resources from the PV system to the charging station. This enables customers to operate their charging infrastructure more efficiently, use more self-generated energy and develop their own energy applications.
  • Hovering Solutions | Hovering Solutions develops drones capable of flying autonomously and replacing the need for human intervention within indoor/outdoor environments, beneficial for carrying out 3D mappings of underground, closed, or confined areas.
  • Motion2AI | Motion2AI offers AI platforms for warehouse mobility fleets like forklifts, carts and robots by providing services of safety, monitoring, optimization, and autonomy.

About SAP.iO 
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit https://sap.io/  

Zippin Raises $30M to Drive Adoption of Frictionless Checkout

Checkout-free technology provider Zippin has closed a $30 million Series B funding round with participation from new and existing investors that include OurCrowd, Maven Ventures, Evolv Ventures and SAP. The new round brings Zippin’s total funding to more than $45 million.

This follows Zippin’s significant progress in recent months, including signing numerous new accounts, launching multiple new public checkout-free stores and further solidifying its leading technology within the future of retail, according to the company.

The company currently powers checkout-free stores across four continents in formats such as convenience stores, grocery stores, sports stadiums, hotels and residential buildings. With this funding round, Zippin expects to scale its checkout-free platform and power tens of thousands of stores by 2025.

“Zippin has seen increased demand and rapid adoption of checkout-free technology during the pandemic,” said Krishna Motukuri, Zippin co-founder and CEO. “Shoppers want contactless experiences everywhere they go. As retailers realize that frictionless checkout-free technology is also contactless by design, they see a great opportunity to kill two birds with one stone. With a checkout-free platform like Zippin, retailers can offer shoppers what they are looking for today, and future-proof their business, both at the same time.”

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MHP works together with SAP on cloud-based digital mobility solutions

MHP Management- und IT-Beratung GmbH (MHP) announced that it plans to expand its partnership with SAP. The aim is to accelerate the introduction of new digital mobility solutions based on SAP’s Industry Cloud. As part of the initiative, MHP and SAP are planning to explore co-innovations and joint go-to-market solutions based on SAP’s Industry Cloud for all aspects of mobility in a green field approach.

The intended partnership is intended to support customers in orienting themselves towards the megatrends connected mobility, autonomous driving, shared / serviced mobility and e-mobility – especially since these are still fundamentally changing and developing rapidly. In a first step, both partners want to discuss solutions for Fleet Management, Load Management, Battery Lifecycle Management and Mobility-as-a-Service. Co-innovation customers who can participate in the initiative include OEMs, utilities, and startups. MHP is therefore planning to support the SAP.iO Mobility Cohort in order to identify interesting start-ups in this technology and business area.

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Cashierless checkout company Zippin raises $30M

The cashierless technology shift continues apace with today’s news that Zippin has raised $30 million in a series B round of funding. The San Francisco-based company is one of several players in the space to gain traction for a technology that seeks to not only make supermarket queues obsolete, but also generate big data insights for retailers.

Founded in 2018, Zippin leverages AI, cameras, and smart shelf sensors to enable shoppers to place items in their cart and walk out without waiting. The company opened its first checkout-free store in San Francisco back in 2018, and it has since entered into partnerships with the likes of Aramark, Sberbank, and the Sacramento Kings’ Golden 1 Center to power cashierless stores globally.

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Too Good To Go Partners With Waze to Fight Food Waste

Too Good To Go is an app that connects users to stores and restaurants with unsold surplus food and offers it at a discounted price. This week, the company announced that it has partnered with Waze, a GPS navigation software app, to fight food waste.

The partnership is called Waze for Good initiative, and it will last throughout the month of August. On the Waze app, the map will feature 100 Too Good To Go partner businesses in the metro areas of Washington D.C., Seattle, New York, Philadelphia, and Portland. Some of the featured stores will include Just Salad, Auntie Anne’s La Colombe, Juice Press, PLNT Burger, Café d’Avignon.

Waze users will see dropped pins on the map for Too Good To Go business partners. When selected, these pins will give information about the business and the initiative. The participating partners will offer “surprise bags” of surplus food, costing around $3.99-$5.99 each, that users can pick up. Earlier this month, Too Good To Go partnered with JOKR, a ghost grocery store chain to offer similar $5 surprise bags of surplus products.

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ViewAR secures Strategic Investment for Expansion

ViewAR, a leading global provider of augmented reality (AR) software. The creator of new AR ecosystems, is pleased to announce a strategic investment from Lansdowne Investment Company Cyprus Ltd (“LICC”) and Breeze Invest GmbH (“Breeze Invest”).

The multi-million Euro capital investment from LICC and Breeze Invest will allow ViewAR to increase its head count, accelerate the development of its award-winning technology, and further enhance its ability to address key markets and industry segments globally.

LICC is an investment vehicle managed by Lansdowne Partners Austria GmbH (“LPA”), which is an Austrian Alternative Investment Fund Manager with a strong focus on investing in and fostering European innovation. LPA is part of the Lansdowne Partners group of companies.

Breeze Invest, based in Vienna and Liechtenstein, is a private equity company focusing on investments in medium-sized industrial companies in the DACH region and neighboring CEE countries.

Founded in Vienna in 2010, ViewAR has created the only AR solution of its kind, providing a complete infrastructure to create, manage, test and publish augmented reality applications. The ViewAR System lets developers and inexperienced creators use cutting-edge AR technologies to create immersive AR experiences across a broad range of domains. The ViewAR All-in-One system covers the solutions for indoor navigation and guidance; Industry 4.0 & IoT; remote assistance and product visualization. ViewAR has won several awards for its technology, including the highest award in the field of AR: Auggie Award from Augmented World Expo.

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parcelLab secures $112M to help global brands deliver a seamless experience

The leading Operations Experience Management platform, parcelLab, announced today that it has secured US$112 million in Series C funding led by global venture capital and private equity firm, Insight Partners. Endeit Capital joined as a co-investor as well as existing investors Capnamic Ventures and coparion. The funding will enable the Operations Experience category leader to accelerate its mission of bringing people and brands closer together.

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Final-mile fulfillment startup parcelLab closes $112M Series C funding led by Insight Partners

Munich-based parcelLab, which offers a final-mile fulfillment service for online retailers, has closed a $112 million (GB£80 million) Series C funding round led by the U.S. VC/PE firm Insight Partners.

Germany’s Endeit Capital participated as a co-investor, alongside existing investors Capnamic Ventures and coparion. ParcelLab last raised an undisclosed Series B in October 2019. The new funding will feed into parcelLab’s global expansion plans and new product development.

Founded in 2015 by Tobias Buxhoidt (CEO), Julian Krenge (CTO) and Anton Eder (COO), the startup has managed to bag such customers as Lidl, to which it provides automated personalized shipping messages. This means that as much as 85% of Lidl customers return to its website.

It also works with Ikea and Farfetch to increase basket sizes and email open rates of — it claims — over 90%, 25% reductions in WISMO (where is my order) and increases of customer reviews.

In a statement, Tobias Buxhoidt, CEO and founder of parcelLab, said: “As e-commerce becomes increasingly competitive, providing unique and branded experiences will drive growth. Identifying opportunities to further connect with people and build a better, stronger relationship is a key differentiator.”

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Sustainable Business Is Better Business for All

Sustainability is the business challenge of our lifetimes.

Customers are increasingly educated and demand products and services that minimize negative environmental impact. Investors are integrating climate risk in their portfolio strategies. Government regulation is on the rise around the world, affecting carbon emissions, waste management, product design, and producer responsibility. Employees are increasingly vocal about their employer’s environmental policies and actions, making it challenging for businesses to recruit top talent without a genuine environmental vision and track record.

Based on Accenture research*, enterprises with high ratings for environmental and social governance (ESG) performance attained operating margins nearly four-times higher than those with low ESG ratings and generated annual total returns to shareholders that were double their peers. According Accenture and United Nations (UN) Global Compact research, 54% of CEOs agree sustainability is critical to the future success of their organizations, and 71% of investors believe the pandemic will accentuate global policies to tackle risks related to climate change.

From Periphery to Core

Enterprises must show accountability through ESG performance and manage end-to-end operations responsibly. By reimagining its business model, any company can operate in an intelligent way, minimize negative environmental impact, and unleash a new dimension of enterprise resource planning (ERP). Decision-makers can use this intelligence to design better products, create engaging experiences, and equip employees to do their best work by eliminating busywork. They can create an efficient, ethical, and adaptable supply chain, reaching beyond organizations and first-tier suppliers to proactively manage performance and risks with trading partners around the world.

Just like any other core business function, sustainability performance must also be managed in real time and integrated into wider business decision making. True, integrated reporting will go hand-in-hand with ESG management, and information transparency will provide a solid foundation to optimize financial results and sustainability performance together.

Most companies have a long way to go before they move beyond the basics of simply reporting ESG performance to actively steering their business operations toward ambitious sustainability goals. While the UN Global Compact’s SDG Ambition program has challenged companies to enhance their commitment to the UN Sustainable Development Goals (SDGs), only 25% have set goals aligned to societal or environmental needs. Although CEOs acknowledge the universal call-to-action to achieve a better and more sustainable future for all, less than 50% have implemented sustainability into their operations.

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