Retail Insight | Innovation
Managing Director, Retail + Leisure
Brands need to be opened-minded about changing the traditional model of retail. Brands that are innovative survive. And increasingly we’re seeing those that aren’t dying. Fortunately – and excitingly – the space to play is extensive. Augmented reality is a good example of one area to explore and realize. Using AR technology, Ikea introduced the ability for people to hold up their phone in the room they are looking to refurnish, and picture exactly what a piece of Ikea furniture would look like in that space. Home improvement retailer Lowe’s introduced a similar app that instantly turns a phone into a useful measuring and design tool. Whilst these apps are about utility, they also enrich the ever important inspiration and exploration phase of shopping. We know there’s a growing expectation on brands to add value to a consumer’s life – and for retailers, the full shopping experience. Through innovation, retailers can prove to be both useful and inspirational – and in turn build deeper, more meaningful relationships with customers.