NRF 2023 – Innovation Lab: 10 solutions to make trade more interactive and efficient

By Clotilde Chenevoy | the

| Omnichannel

Républik Retail interviewed the innovation lab at Retail’s Big Show. Check out our selection of startups that bring a little extra to make commerce more interactive and efficient.

Arht Media creates interactive holograms. – © Retail Republic uses generative AI to industrialize image production

Generative AI is one of the new technologies that will frankly rock the retail world. Midjourney is one of the solutions that has made the most ink flow and allows you to create images from a text – a prompt according to the jargon. The solution will dig into its databases. In the Innovation Lab, leveraged generative AI to help brands and retailers easily create images to showcase their products. The platform has an image library that it will cross reference with product images. Creation time is thus minimized for brands and customers thus have more photos to project.

Byondxr builds virtual stores

The metaverse is one of the strong themes of NRF. Byondxr is part of this trend and has developed a solution to create virtual stores that allow you to discover products in a more immersive way, without having to use a virtual reality headset. Printemps tested this principle last year. Byondxr already collaborates with big names including L’Oréal, which for example has created more than 40 Lancôme Connected Stores in 40 countries.

To create a digital store, brands and retailers can either draw inspiration from the real stores they have or innovate completely. Called the “hull”, it is also necessary to recreate the online courses, with the aim of presenting the products in a new and more playful way. Even the product sheet must be redesigned in terms of form and content. The price of the project will also depend on the number of articles to be made clickable. The end of the customer journey resumes in the logic of an e-commerce site, with a classic purchase. Byondxr announces about 3 months to set up a virtual store.

Squadded facilitates social shopping among consumers

Squadded facilitates interactions between consumers.  - © Retail Republic

Squadded facilitates interactions between consumers. – © Retail Republic

Squadded is a social commerce platform that facilitates exchanges between consumers by mixing live shopping and social networks and allows you to bet on UGC: User Generated Content. This customer-pleasing content helps improve online conversion rates. In the case of Squadded, brands can give the right (or privilege) to fan customers of the brand to become influencers on their site. They then have a turnkey solution to create their live which will be hosted on the brand’s website. Customers can view these videos live or in playback and also sign up for ambassadors of their choice. You can create private or public groups, with 5 people live at the same time and up to 1000 connections to view images. The price consists of a monthly subscription with a variable cost depending on the volume.

BigThinx turns customers into avatars

To make online shopping more fun, BigThinx allows you to transform customers from photos into avatars. Specifically, two full-length photos and one face photo are required. Once this is done, the customer is seen walking through the virtual store. But a great feature of BigThinx’s technology, his avatar tries on clothes. A more fun way to discover the products.

Tronic transforms loyalty programs into NFTs

After the metaverse, NFTs are another hot topic in NRF. Tronic has designed a platform for brands to move their loyalty program into the world of web3 and NFT. The loyalty card is kept in a wallet. The advantage of this solution compared to the classic model is that it is possible to know through the wallet the other NFTs that the customer owns and therefore to deduce his passions or other brands he appreciates. Everything is GDPR compliant because there is no personal data on the customer, we are on the token. Tronic also offers a module so that the wallet is also an access key to the brand’s e-commerce site.

Arht Media creates interactive holograms

Arht Media has created a solution to create interactive holograms in minutes. On the one hand, the person who will become a hologram must stand against a white background with a camera facing him. On the other hand there is a sort of box connected to the internet and to a socket which reproduces the image in holographic form. The transmission is instantaneous. On the famous holographic receivers there is a camera and a microphone, which allow you to create an interaction and an exchange. This device, which costs $65,000, can be used to organize flagships or even conduct remote training courses. Arht Media has already installed its solution in Italy and the United States.

Hivery uses AI and data to tailor assortment locally

Hivery has designed a platform that helps category managers fine-tune their assortments for each store, or by creating clusters of stores. To do this, the solution is based on weekly sales histories, product attributes and store planograms. Hivery mixes its three pieces of data to identify which items should be in store and in what quantities. The system takes into account additional rules to reflect its commercial strategy, such as allowing 30% space for your brand.

Lisa offers low-code social commerce

Lisa, a German start-up that already collaborates with Zalando, has created a solution to add live streaming to an e-commerce site in low code mode. The start-up announces that it has in stock all possible scenarios to facilitate the implementation of this service without overstressing the IT department. Furthermore, according to the founders, one of the points of differentiation compared to other social commerce solutions is that the customer never leaves the video stream, so as not to lose the relationship with him. A particularly important point when you are on a mobile navigation. Therefore, if during a live broadcast the user wishes to consult a product sheet, the tool displays the information on the live images. The price of Lisa is divided into a monthly license and a variable depending on the volume.

Fit Match creates avatars to help with size choices

Fit Match relies on 3D to help customers find the right product size. The startup has designed an algorithm that analyzes images captured with a smartphone and thus generates an avatar. These measurements are then compared to a brand’s catalog to offer a size and product recommendation. The start-up announces a 4x higher conversion rate with its solution.

Fit Match is currently conducting a test with Macy’s which offers in its lingerie section to find out your bra size. Two scenarios are possible. The operation is performed with a salesperson holding the smartphone, while the customer is in lingerie. And through Fit:Match Self integrated into the Macy’s app, customers can create their own avatar.

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