PSFK shines a light on emerging and developing trends along the purchase path
From contactless payments to smart home reordering systems, the world of retail technology has come a long way since the beginnings of 2015. Much of this past year’s retail innovation will culminate at Retail’s Big Show, the National Retail Federation’s annual conference and expo from January 17-20, 2016.
Refresh your memory of 2015’s biggest retail breakthroughs with PSFK’s top five retail posts of the past year. The articles’ recurring points—including eliminating consumer obstacles and promoting transparency—reflect larger emerging themes in the industry captured in 2016 PSFK Future of Retail Report, which defines strategic pillars that retailers are using to build modern and engaging experiences that create a new generation of enhanced shopper journeys.
According to a study conducted by HeyWire Business, up to three-quarters of consumers prefer texting with a customer support representative to current methods of communication, including email, phone or social media interactions. This article, inspired by the The Power of Chat Debrief from PSFK Labs, investigates how retailers are integrating texting into the consumer experience.
This article covers Best Buy’s electronic retail sorting arm nicknamed Chloe, a ‘vending machine on steroids’ developed in the hopes of redistributing tasks within its workforce. Controlled by customers using a touchscreen display, Chloe sorts through a physical database containing nearly 15,000 CDs, DVDs, video games and tech gadgets in just 30 seconds.
With the exponential growth of crowds for sneaker releases comes increased wait-time, violence and number of fans who come up empty handed. That’s where Confimed comes in, the app built in-house by Adidas’ digital innovation team to provide a solution to the long lines and in-store lottery system altogether. This article discusses how geolocation and notifications support shoppers and increase chances of securing a pair of Yeezy x Adidas’ much-anticipated sneakers.
Magic is an SMS service that upholds the age-old adage, “if you text it, it will come.” Users can text a phone number listed on Magic’s site and a team of experts fulfills the order, combining services when necessary; payment is handled via a secure payment link powered by Stripe. By offering SMS communications and a get-it-done attitude, Magic puts purchases, such as “unique tool for bike repair” and “detailed car,” one text away.
PSFK speaks with angel investor Tim Ferriss, who co-developed the Build-A-Business Competition, in which participants grow their companies by launching an online store on e-commerce platform Shopify. A selected group of small business owners earn mentorship from the likes of Ferriss, Sir Richard Branson, Daymond John and Marie Forleo, all while taking in the views at Necker Island, a place owned by world-trekker Richard Branson himself.
Spot the biggest trends in store development, e-commerce and payment technologies at NRF Retail’s Big Show 2016 using the PSFK 2016 Future of Retail Report, a directional playbook for brands and retailers to build value, drive sales and boost loyalty. Download the full report here, view our trend summary on Slideshare and check back during the conference for daily content related to Retail’s Big Show.