If you expect to be a rising young star in retail, you need to know how the industry is changing. In brick-and-mortar or online, trendsetters are changing the way shoppers are experiencing their brands.
A recent Forbes article revealed how Bonobos, Hointer and Dollar Shave Club are exploiting technology as game changers in nabbing today’s finicky, cash-strapped consumers.
Bonobos has adopted showrooming in a fresh new way. CEO and co-founder Andy Dunn wanted to retain Bonobos’ status as an online-only men’s clothing shop, yet nearly half of his potential customers refused to order online. Buyers wanted to try on the merchandise for comfort and feel. So Dunn created Guideshop, which allowed customers to make an appointment, try on apparel and place the order online while still in the shop. It’s a win-win deal: customers can try on clothes, and inventory is held to a minimum with Bonobos website as a virtual back room.
Jeans seller Hointer recently launched an entirely new shopping paradigm. The brick-and-mortar retailer successfully combined robotics, mobile technology, and effortless shopping in selling fashionable men’s jeans. Implemented by Dr. Nadia Shouraboura, nearly 150 styles of jeans are displayed hanging from a belt buckle. But instead of forcing customers to wade through stacks of jeans, they can scan the style, specify size and color, and place the order directly from their smart phone. The specially designed Hointer app activates a robotic system that takes the selected style, size and color and transfers it to one of six large dressing rooms. Customers try on the jeans and if they like them, they can bag them, scan their credit card and complete the purchase.
Ms. Shouraboura predicts retailers will increasingly adopt systems like this. “Soon, every item in the world will be sold like this,” she says. “It will be bigger than Amazon.” Hointer expects to expand the system to men’s shirts and shoes, and even to a women’s shop called Hointress.
Another example of retailers embracing technology and listening to how consumers want to shop is Dollar Shave Club. Here, the “Online-Only Brand” takes center stage, offering a bold new way to purchase razors. For just a dollar a month, the Dollar Shave Club will send you brand new razors each month. Check out their quirky video. Nearly 20,000 customers joined the Club during their first week launch. Founder Mark Dubin insists, “We’re not a razor company, we’re a lifestyle company. We’re tying to build a community of smarter consumers.” For a more introspective look at Dollar Shave Club, check out this video interview with Mike Dubin.
To move up in today’s highly competitive retail field, you’ll need to combine creativity with technology. Success will go to the bold thinkers, entrepreneurs and individuals who lead, not follow.
Image courtesy of Vichaya Kiatying-Angsulee/FreeDigitalPhotos.net
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