In Russia, Leading Retailers Turn to RITA for Inspiration, Innovation & New Direction
Leading Russian retail and tech companies have joined forces in an effort to collaborate and hunt for new technology and innovation in retail. The country’s biggest supermarket chain X5 Retail Group, Europe’s largest white consumer goods retailer M.Video and German furniture chain Hoff have joined forces to “scout and adopt innovations” in a project dubbed the Retail Innovation Tech Alliance (RITA), the companies said in a statement. “The project is going to look for new technology solutions both in Russia and on major global start-up platforms,” the statement added.
The retail companies expect such technologies to “make their business and decision-making processes more efficient, improve customer experience and create promising new business models and opportunities,” they stated jointly.
RITA’s scouting activities in Russia will be coordinated by a yet-to-be appointed local operator, while international scouting activities will be supported by Paris-based Lafayette Plug & Play, covering Western Europe, and Axis in Israel.
The basic idea with RITA is to help those involved in the initiative to be a bit more systemic about catching up with the rest of the world by casting a wider net on best-in-class innovations and applying them to domestic businesses. The end game is clear as well, to make sure Russia’s retail and tech companies are at least on a par with those in the rest of the world, and perhaps even a step ahead.
“RITA's committee will select a Russian operator that will coordinate activities of the partners and arrange for the search and selection of promising solutions in Russia. The partners also plan to openly share their best practices and case studies on start-ups,” the partners added in the released statement.