Retailers have been exploring channels on the internet for awhile now, from e-commerce to advertising their brands digitally. However, the new frontier involves integrating digital technology into the physical shopping experience, and several large retailers are already making headway by creating separate innovation labs that focus precisely on that.
Walmart, the world's largest retailer, opened its innovation lab in San Bruno, CA in 2011 and currently employs 3,500 people and has acquired 14 start-ups. Notable recent developments include the Savings Catcher, which is an app that scans receipts to find competitor prices. If the app finds a lower price, the user is refunded the difference in gift-card form.
Their biggest competitor, Target, has its own west coast innovation lab, where they are focusing on robotics, wearables, virtual reality, and digital activations.
Lowe's innovation lab has already launched two in-store projects, Holorooms, which are virtual reality booths designed to allow the customer to design their dream room, and OSHbots, talking robots that assist the customer while they shop.
As the holiday shopping season comes around, we will see many of these high tech shopping innovations come to life. Certain malls, like Tyson's Corner near Washington, DC, are introducing their own mobile shopping apps that guide people as they move through the store. Personally, I am excited to see these retail technologies come to life and to see how the consumer responds, and am intrigued by how established mass retailers will be using disruptive technology in the future.
Sources: Washington Post
Adweek
Walmart, the world's largest retailer, opened its innovation lab in San Bruno, CA in 2011 and currently employs 3,500 people and has acquired 14 start-ups. Notable recent developments include the Savings Catcher, which is an app that scans receipts to find competitor prices. If the app finds a lower price, the user is refunded the difference in gift-card form.Their biggest competitor, Target, has its own west coast innovation lab, where they are focusing on robotics, wearables, virtual reality, and digital activations.
Lowe's innovation lab has already launched two in-store projects, Holorooms, which are virtual reality booths designed to allow the customer to design their dream room, and OSHbots, talking robots that assist the customer while they shop.
Sources: Washington Post
Adweek
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