From artificial intelligence to virtual reality, emerging technologies are rewriting the retail playbook at a rapid pace, suggests J. Walter Thompson Intelligence in a new report called Frontier(less) Retail.
Launched in collaboration with WWD, the report explores the idea that brands and retailers are increasingly putting innovation at the core of their strategies. This relates to everything from digital integration through to the more future-looking technologies helping to shift their businesses forward.
Rebecca Minkoff has boosted sales with smart mirrors in dressing rooms, it notes, while Kate Spade has had a hit with Everpurse, a smartphone-charging handbag. It also attributes the success of Under Armour in part to its positioning as a tech-forward brand, and references Topshop’s new incubator program, Top Pitch, as a clever bid to achieve the same at a time when its young consumer base is more likely to spend on smartphones than splurge on streetwear.
Read source article at Forbes