#44 Behind the Scenes of Retail Innovation – Miguel Bagulho on Smart Investments & Real Impact

Links: Google - Pocket Cast - Anchor - Spotify - Apple 

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What happens when a leading European retailer launches a global venture capital arm?

In this episode of The Retail Reality Show, we sit down with Miguel Bagulho, Investment Director at Bright Pixel Capital, the VC arm of the Portuguese retail conglomerate Sonae. 

But this isn’t your typical corporate venturing story.

Bright Pixel Capital invests globally in retail technology, cybersecurity, and infrastructure software – and carefully selects 2-3 companies to back each year on each vertical.

So what does it take to make the cut?

Miguel shares how his team identifies the tools that deliver real operational impact – not just hype. 

In this episode, we talk about:

• Why AI isn’t replacing frontline workers, but it’s fundamentally changing how they work,

• what retailers are still getting wrong about automation and innovation,

• the growing importance of nano influencers and the creator economy,

• and the shift from “build vs. buy” to “buy and build on top”.

From AI-powered replenishment to behind-the-scenes tech that cuts waste and saves time, Miguel gives us a rare look into what retail innovation really looks like when money, scale, and strategy are involved.

Whether you’re a retailer, founder, or just trying to stay ahead of the curve – this episode is packed with insights you won’t want to miss.

👉 Tune in now on Spotify, Apple Podcasts, or wherever you get your shows.