dunnhumby Partners with Retail Innovation Council

Customer loyalty specialist dunnhumby has partnered with UK-based industry network the Retail Innovation Council (RIC), promising help to Europe's retailers as they navigate options for new technology. The partnership kicks off with the launch of the dunnhumby Retail Innovation Index (RIX).

The RIC is a curated leadership network connecting senior leaders across retail, consumer brands and the hospitality industry in the UK and Europe, aiming to accelerate 'practical innovation and measurable transformation.' The organisation hosts summits, Executive Committees and Innovation Challenge Days, bringing together experts as well as partnering with organisations to deliver programmes.

RIX is available to RIC's executive members and combines dunnhumby's strategic consulting and research capabilities with the retail innovation expertise of its dunnhumby ventures investing arm. Aggregated insights from the service will power the collaboration between the two organisations, which will involve the RIC's Executive Committees working to drive 'the continued evolution of innovation best practices and industry-wide change' in the industry - including 'how retailers choose what innovation to adopt and their ecosystem partner selection decisions.'

dunnhumby will develop a new standardised scorecard for choosing technology startups based on their retail adoption readiness, supporting the RIC and its partner network. To this end RIC Chair Sandeep Arora (pictured) is joining the Judging Committee for dunnhumby's newly launched Ecosystem Startup of the Year competition; while Leo Nagdas, Head of Corporate Development & Innovation at dunnhumby, joins the RIC to lead its Strategy & Innovation Executive Steering Committee.

Arora says the deal will help the RIC 'to move towards elevating innovation practices across the region while individually supporting each of our executive council members in their leadership roles.' According to Nagdas, retailer and brand innovation decision-makers face 'an overabundance of choices - which use cases, when, and with which vendors to test' AI and other innovative technologies. He affirms: 'Our specialty expertise, combined with RIC's executive platform, can guide industry executives towards clarity in today's uncertain times.'

The RIX will initially be offered only to RIC members and the dunnhumby partner network, both of which are described as 'exclusive but complimentary' for senior retail executives. Details are available from members@retailinnovationcouncil.com and ventures@dunnhumby.com .