It’s been another very busy week at Booodl HQ. Between fashion week, store visits, building the app, testing the app and nerf gun wars – we’ve been left scratching our heads and asking where the week has gone. It’s been an equally big one for retail tech as well, so without further introduction here is our weekly retail wrap up.
1) Jawbone launching new wearable
Jawbone, known for their awesome activity trackers, are foraying into the world of payment wearables. For their latest model, the Up4, they’ve joined forces with American Express to enable fast payments, as well as their usual offerings and long battery life. They’re expected to hit stores in the next few months. Get pumped people, your post-workout treat will be even easier to justify: http://goo.gl/LCPxYR
2) ATMs becoming obsolete?
With mobile payment systems hitting the mainstream one must ask what this will mean for hard cash – and in extension ATMs. Digital payments aim to target smaller transactions traditionally covered by cash so ATM makers have to be concerned. Andy Mattes, CEO of Diebold, says that while there is more cash floating around then ever, the biggest cash users are younger generations – in other words those more comfortable adopting new technology. This places them at the centre of a dynamic problem. The solution? ATMs are becoming smarter and will offer better features: http://goo.gl/VJr1KF
3) Amazon x Shoefitr
No doubt inspired by the recent release of Cinderella, Amazon have acquired Shoefitr. A startup that utilises 3D technology to match online shoppers with shoes that fit well. This is a smart sales-boosting move by Amazon for two reasons. Not only is shoe shopping notoriously unpredictable, Shoefitr‘s technology has proven results. Companies that have already integrated with Shoefitr have seen shoe returns decrease by 20%. Looks like we’re going to the ball! http://goo.gl/998fhn
4) Wear your hashtags
It seems our love affair with internet culture has reached new depths, if Australian designer House of Cards latest collection is anything to go by. The “In Too Deep” line features clothing emblazoned with hashtags, Wi-Fi symbols and the spinning wheel of death (our favourite). This thought provoking range is an interesting reflection on our obsession with the internet and its digital signifiers: http://goo.gl/zOWdp7
5) Nike’s #BetterForIt campaign
Nike have launched a social media campaign targeting women in order to boost sales of its women’s line. This advertising campaign is vastly different to Nike‘s other undertakings, which usually feature accomplished athletes. As well as airing TV ads that portray women at varying stages of their fitness journey, the company are incentivising women to share their experiences on social media using the #betterforithashtag. Nike has a digital community of 70 million people; by maximising this and pulling in other customers they believe they can add an additional $2 billion in sales by the end of 2017: http://goo.gl/8pdX0A
6) Beacon of hope
ShopperTrak, a leading provider of consumer insights, have teamed up with popular shopping app Shopkick in order to deliver the best in-store analytics. By combining ShopperTrak‘s analytics know-how with Shopkick‘s beacon technology, retailers will be provided with superior data allowing them to understand customer behaviour, where customers are going and how long they’re staying. From this they can action their findings to improve customer loyalty and sales. It’s a win win for everybody: http://goo.gl/x8ApQ9
7) ModCloth takes things offline
E-boutique Modcloth, known for their vintage aesthetic and promoting healthy bodies, are dipping their toes into bricks-and-mortar shopping. They’re opening a 3 day showroom in downtown Los Angeles. The event has already attracted 5000 people, prompting the brand to cap reservations. Something tells us things are going to go well for them! http://goo.gl/A0iVDO