French supermarket chain Carrefour on Wednesday (Feb. 16) announced its full-year 2021 results, highlighting several advances made to accelerate the group’s billion-dollar digital strategy.
Overall, the multinational retailer reported a net profit of 1.07 billion euros ($1.2 billion) last year, up from the 641 million euros ($729 million) it recorded in 2020. Same-store sales increased by 2.3% year-over-year, the company said in a statement.
Chairman and CEO Alexandre Bompard, credited a handful of factors that led to the “strong” 2021 results, including the increase in digital investment which led to more than 20% growth in food eCommerce.
“Our omnichannel model continues to expand and attract customers,” said Bompard, adding that “our digital initiatives place us in a leading position in new markets, our store network is growing at a fast pace … and we are recording market share gains in our key countries.”
Last fall, the company which operates 12,225 stores in more than 30 countries, unveiled its 2026 digital strategy resulting from a transformation that commenced in 2018.
Built on a digital-first, data-centric approach, the strategy will be driven by four pillars, including the acceleration of eCommerce as well as data and retail media activities, which led to the opening of eight new fulfillment centers, and the launch of “Carrefour Sprint,” a quick commerce service in partnership with Uber Eats and Cajoo.
The firm also inked partnerships with global tech giants Criteo, Google, and LiveRamp to launch the Carrefour Links platform in June 2021 as part of its efforts to boost data and retail media activities.
And in November, Carrefour announced the debut of what it said was the first artificial intelligence (AI)-powered store in Paris which featured 10 seconds to shop and 10 seconds to pay.
Read more: Carrefour’s Digital-First Expansion Brings Cashierless Tech to French Shoppers
Powered by U.S.-based retail technology company AiFi, the technology store is equipped with 2,000 integrated AiFi sensors built into the shelves and 60 AI-powered cameras placed in the ceiling to help track customers anonymously and protect consumer privacy.
It was also designed to ensure a speedy and accessible shopping experience for customers who can enter and exit the store without having to pass through a gateway.
Earlier this month, Carrefour announced a series of digital initiatives in its European markets, making good on its promise to boost digital investments by 3 billion euros ($3.5 billion) between 2022 and 2026.
See also: Initiatives Advance French Retailer Carrefour’s Billion-Dollar Digital Expansion Strategy
One of the ventures was a collaboration with Brut, a digital media company in Europe with 70 million users and 450 million viewers in 100 countries.
Through the Brut Shop, 60% of Carrefour customers who are interested in live shopping will have access to a website to make their online purchases, while participating in live-streamed video events on social networks, the company said.
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