5 Retail Updates you Need to Know Today

Wowza! Talk about an overwhelming couple of weeks. Booodl’s been bustling with the release of a major app update for you guys to play around with, an updated website where you can now search products and locations, plus we’ve treated ourselves to a refreshing new makeover. But the fun doesn’t stop there folks- we’ve broken past the seven figure fence and now have over ONE MILLION products loaded in the app! And as expected, the retail world has maintained its lively presence just as much as us, here’s what you need to know:

1) Say hello to Sello!

E-commerce site builder, Shopify, is entering a new world of retail: used goods. With an estimated market of up to $100 billion, they’ve devisingly launched an image-based, Instagram-styled app called Sello: a free mobile app to assist users selling unwanted belongings. Simply photograph the item, add a description, select payment/shipping options, and off your listing goes to a selection of major social networks! However, Sello ultimately faces other mobile-selling competitors including eBay, Carousell, OfferUp and Gone! So where does the app differ? If you’re after a product, you’re unable to search it specifically, rather it’s discoverability relies on social networks. Shopping doesn’t get more personal than that!

http://goo.gl/k9diJj

2) Google Maps takes course for commerce?

There is a speculated treasure hidden within the walls of a Google Maps update, and we’re eager to find out what it holds! Reports from Pymnts and PCWorld has revealed an extension from the site’s navigability, and into commerce functionality. Users will supposedly be able to utilise functions around local gas pricing. It is also expected to provide in-depth details of nearby hotel amenities via icons of child-friendly (stroller), air conditioning (snowflake) and airport shuttles (van). This has us deciphering what’s next for the internet giant? For now perhaps these additions are to connect users with Google’s new instant booking service all within one space. If true, Google’s ideals appear to resonate with ours at Booodl: to be the mobile browser’s one-stop-shop for finding products in order to complete purchases.

http://goo.gl/8He9YL

3) Child’s play: the lowdown on the toy industry this Aussie Christmas

Who would have thought- Christmas is already a month away and with Santa on his way it’s no surprise that spending on toys and games will increase over the trading season. According to the Australian Retailers Association (ARA), this industry is expected to accumulate a retail spend of $46.7 billion between November 14- December 24. The big-name brands most popular for children aged 6-13 is Kmart (56%), Target (55%), Big W (54%), JB Hi-Fi (28%) and the Reject Shop (26%) not far behind, the kids can’t complain about this Christmas collection!

https://goo.gl/q2GnKY

4) Security systems using sci-fi scanning technology

Remember the days when shoplifters were handled by physically being marched down the back room of a store and have their photo taken to be pinned against the staff board? Well this tedious process is evolving, with high-tech tools now used to scan shoppers’ faces  and automatically pick out suspected thieves, notifying staff via a mobile app when a detection is made. Joe Rosenkrantz, CEO of FaceFirst– facial recognition system selling company, promises to “transform security at every store”, with Walmart already having tested the systems earlier this year. Whilst it may raise concerns of customer privacy, Rosenkrantz asserts the process involves retailers discarding the images if the visuals fail to correspond to an existing gallery of offenders. Times are definitely changing, and we’re thrilled to see technology assisting retailers in all business avenues!

http://goo.gl/jRvxjo

5) Bridging the P2P generational gap

Obviously, there now exists many paths to purchase since the introduction of social media and mobile devices. But with multiple generations using these technologies, we question how retailers bridge this gap to maximise their omnichannel base? PYMNTS released an intriguing article of an SSI Study, which concluded millennials are the heaviest mobile users for gathering information, shortlisting and purchasing items. More interestingly, it raised a point many retailers may take for granted: rationalising purchases through peer referral, and the importance mobiles play in reshaping consumers all together both online and in-store. Retail giant, H&M took note of their customers’ heavy mobile usage, introducing a path to payment from the walls of a dressing room! It’s clear that mobile usage is unquestionably increasing during path to purchases, but hey, that was no surprise to us!

http://goo.gl/vOe1hd

 

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