Hello from New York! Alex Broxson, Head of Marketing at Retail Assist, brings you highlights from the Show in the first of our NRF17 videos, exploring how innovative technology is enhancing the ways in which customers and retailers interact. Watch it on YouTube here.
From Day 1, the Top 3 Technology concepts that we identified as the big players are:
- Cognitive Computing
- Virtual/Augmented Reality
We explore the latest from IBM Watson and On Star Go, which maximises the time retailers can connect with consumers during otherwise “unused” or “wasted” time – for example, when in the car. Instead of being stuck in traffic, it becomes time well spent. How can the brand integrate into your routine and add value?
In the example given, the consumer is sent personalised promotions based on their journey route, location, end destination, and even weather. The technology can also integrate with order management systems, so that the car can “tell” a retailer when the consumer is on the way to pick up an item. Using On Star Go, Watson “learns” about you, your journeys and routines, and therefore can connect with you in more relevant and sophisticated ways.
In the wearables space, contactless payment technology has become more and more popular. However, new technology from Visa shows a ceramic payment ring that charges using only your blood flow. The ability to integrate methods of payment into smaller wearable devices is definitely more convenient, but would you really wear it? Being critical, for this type of wearable technology to be adopted, would it be more popular as “worn, but not seen”? If this could be integrated into a ring or piece of jewellery you actually own, it becomes much more relevant.
Lastly, we were introduced to VR/AR at last year’s NRF Show, but this year it makes a return with AR and Microsoft’s HoloLens. Making these types of technology more retail focussed has been demonstrated well by integrating HoloLens with “endless aisle” in a store environment. This allows the consumer to experience the product without it needing to be physically there – we can “see” it, but will “touch” ever be integrated to join up the full sensory experience of buying a product?
Make sure to check our Twitter @RetailAssist for retail technology news and live updates from NRF17, and we will be posting our second retail technology blog tomorrow! Stay tuned for NRF 17 vlog number 2.
If you’re interested in any of the technologies featured, or want to discuss further, comment below and we’ll get back to you!