News
A survey led by Forrester Research has discovered that online shopping may be slowing on mobile devices but that it's never been more important for retailers to implement click-and-collect capabilities.
The survey also suggests that retailers should embrace omnichannel services in order to stay up to date with new consumer shopping trends.
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International investment in Latin America has more than doubled since 2013 - 25 new investors entered the region in 2017 - with China and Silicon Valley leading the way. Mexico and Brazil are two of the top three markets for Google and Facebook in terms of monthly users and Latin America is a top growth market for companies like Spotify and Netflix.
Although Europe has been the main trade and economic partner for the UK, now might be the perfect time for Britain to expand its horizons and strengthen its global partnerships. In fact Britain’s trade with Latin America in the last decade has been growing much faster than its trade with the EU.
Now is the perfect time for Britain to make the most of the boom in the tech industry in Latin America, especially as their tech focus is very similar to Europe - AI, FinTech as well as ride-sharing apps. The potential for new collaborations is a very exciting prospect for any industry wanting to maximise its global reach, particularly with the growth Latin America's tech sector is currently experiencing.
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Marcus Schenck, one of the most senior executives at Deutsche Bank, believes that bank accounts as we know them now could disappear in as little as five years.
This view follows a recent trip Marcus Schenck made to China where he saw that the retail banking sector is ripe for disruption from new technologies, in particular from seeing a factory producing microchips that can mine bitcoin or any type of blockchain technology.
He believes that in the future traditional accounts held with banks could be closed and replaced by online wallets for holding cryptocurrencies, which would remove the need for banks to store money for individuals.
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Blockchain Capital, a venture capital company, has raised $150m to invest in companies operating in the crypto space.
The company was launched in 2013 and has since managed to increase its assets under management to $250m, with the latest fund being the biggest yet and named Blockchain Capital IV.
They have so far invested in over 70 companies including Coinbase, Ripple, Circle, Ethereum and Kraken - all well-known in the crypto sector.
Blockchain Capital IV will be a multi-stage fund that invests in both equity and crypto assets.
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ClearScore, a credit data startup, is in the process of being acquired by Experian for £275m.
The company, which was founded in 2015, is credited with being the first company in the UK to offer free credit reports.
The deal will allow ClearScore to grow faster and develop exciting new innovations and for Experian to increase the services it offers to its customers.
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Tech Will Save US, a UK startup that designs make-it-yourself kits to encourage STEM learning amongst children, has managed to raise £3m in a Series A round led by Initial Capital.
Other investors included Backed VC, SaatchInvest, AllBright, Unltd-inc and Leaf VC. Angel investors Chris Lee (co- founder of Media Molecule), Martin McCourt (former CEO of Dyson) and Jonathan Howell (CTO of Made.com) also participated.
Tech Will Save US, which launched in 2012, will use the funds to expand their product range.
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Gousto, a meal recipe kit service, has managed to raise £28.5m from investors including Hargreave Hale, Angel CoFund, MMC Ventures, and BGF Ventures.
The company, which was founded in 2012, focuses on providing individuals in the UK with the ingredients to create healthy, nutritious meals, while reducing household food waste.
The new funds will allow Gousto to continue building its proprietary technology and work on its use of AI.
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Rent the Runway, a women's clothing rental business, has had $20m invested into it by Blue Pool Capital, a financial firm that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai.
Rent the Runway, which was founded in 2009, last raised funds in late 2016, when it secured a $60m Series E investment led by Fidelity. That deal valued the company at $750m, according to PitchBook. The new funds from Blue Pool Capital have increased the company's value to just under $800m, according to research firm Lagniappe Labs.
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Here are the key factors defining the wealth management industry according to the Digitalization of Wealth Management report 2018, created by Thomson Reuters in partnership with Forbes Insights:
- Keeping abreast of new technology (68% of the 200 wealth managers surveyed highlighted this)
- Staying relevant to the next generation of investors (69% said this)
- Finding ways to integrate artificial intelligence (AI) into investment decision making (41% picked this)
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The truth is that if you fail to innovate, your business will sit still in what has become a fast-paced, technology-driven sector.
Firstly as more people add voice-command devices to their homes, the process of online shopping will shift from scanning through screens to Zero UI, so online retails will need to consider how they make their products available to shoppers searching via their voice.
Secondly automated purchases could be another area open to expansion as shoppers seek out a more efficient way of stocking up on their essentials.
Thirdly the potential for retailers to focus on technological advancements over what their customers want or need should be avoided as they might not see a return on investment. However if customers start demanding a certain digital service, retailers could lose out by not providing it.
Technology will continue to develop and retailers will need to adapt with it, alongside their customers changing demands, to stand the best chance of future success.
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