Technology
The end goal of all retail companies is to hear the cha-ching of the cash register. But getting there is rarely an easy path. Retailers must make a series of decisions before the cash register rings, and one misstep along that decision path can cost them big. In fact, these missteps equate to $1.1 trillionโฆ
Between them, theyโve raised hundreds of millions of dollars in venture funding. Theyโve launched high-tech e-commerce platforms and Main Street brick-and-mortar stores. Theyโre turning media sites into customer bases, creating affordable bespoke and luxury products and making the historically murky supply chain more transparent. Meet the retail and e-commerce 30 Under 30 class of 2016.
While retailers are using the Internet of Things (IoT) in many different ways, most have one goal in common: to build customer loyalty and engagement. In fact, itโs already evident that both retailers and consumers are beginning to reap the benefits from more intelligent technology. The onslaught of smart sensors and devices, interactive store layouts,โฆ
Santa's going virtual in a new marketing push from J.C. Penney this holiday season. In an effort to drive more shoppers to the brand and its stores, the Plano, Tex.-based retailer has set up four virtual reality experiences at malls around the country. Dubbed "Twas the Flight Before Christmas," the initiative sends participants โ outfittedโฆ
Online stores have a huge advantage with targeted marketing. From the moment you land on ASOSโ website, your path is monitored and analyzed. Click on a skirt or jumper, and youโre invited to โshop the lookโ or told โyou might also like.โ Leave the website to check the news on The Wall Street Journal orโฆ
In an attempt to appeal to design-conscious consumers, major athletic shoe brands like Nike and Adidas have been investing heavily in 3-D printing. Now, New Balance is aiming to beat both to the finish line. Yesterday, the company announced a new running shoe model that incorporates a 3-D printed midsole. The shoe will be availableโฆ
Almost a year ago, Healey Cypher was proudly showing Forbes around eBayโs retail innovation lab, a secretive arm of the e-commerce giant that he had built from scratch to develop technology for brick-and-mortar stores. Having cobbled together funds and uncovered a forgotten office space a few miles from the companyโs San Jose headquarters, the 31-year-oldโฆ
Fossil has agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches. Misfit makes a variety of wearable devices, such as fitness and sleep-tracking wristlets and a clip-on smart button that tracks activities. Fossil singled out Misfit's battery-life technology as a particularly appealing component.
Retailers are scanning shoppers with high-tech tools to automatically pick out suspected thieves, absent rules to protect privacy. In the old days, when a store caught someone stealing, a detective would march the thief to a backroom and take his picture with a Polaroid camera. The photo would be added to the retailerโs in-house rogues galleryโฆ
Lowe's is taking 3-D printing to new heights. The home improvement chain has partnered with manufacturing company Made in Space to equip the International Space Station with a 3-D printer. Starting next year, astronauts will be able to print Lowe's-branded tools like ratchets and bolts. The printer is meant to save room while also helping astronautsโฆ