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Technology Insights From Day 2 NRF Expo 2018 | #NRF18 | Retail Assist Vlog
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Our NRF 2018 vlog day 2 highlights the latest retail technology we saw on the floor of Retail's Big Show in New York City.
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TRANSCRIPT:
It's day 2 at NRF. Welcome to our second installment of the top technology highlights from the show. Today we will be bringing you the latest #retailtrends that are making the customer journey much more seamless.
#Augmentedreality and #digitalmirrors have perhaps struggled to prove their value within the retail #customerjourney in past years, this time at NRF the technology has really advanced to prove its relevance within the beauty industry.
In this example with #L'Oreal you can see how sophisticated the augmented reality technology has become. Enabling the customer to try different makeup looks more easily and conveniently, she no-longer needs to apply it and wipe it off to try another look. This would really suit duty-free counters in airports, where the customer usually has little time to find the right product.
We were also impressed with the two-way digital mirror, used for beauty tutorials, not only does it show live demos to an audience on the other side, but it can record the entire makeover for the customers to access afterward.
We've seen many payment providers at the show, and they're aiming to make the customer journey at the point of transaction a more frictionless process. One of these providers is #FingoPay, the only touch-point between the customer and completing their transaction is their finger.
"Hi, I'm Nick Dryden from #Sthaler Limited and I am going to show you FingoPay. We are here at NRF, on the #WorldPay stand where we are really introducing this for the second time to American retailers. What we built was a unified payment and loyalty data product, so it's identity in the cloud. What we use is your finger vein pattern to identify you uniquely. This device here, shines near infrared light and I can identify you within 200 milliseconds. We then attach that to a payment instrument or a loyalty card, enabling a consumer just to shop, purely using their fingers. In Camden town in London I can go to a bar, buy a drink and it will give me 10% cashback to my finger for the next time that I go. The key things are that it's fast, it's secure, it enables you to run instant and unified data and loyalty."
One of the main things is that as opposed to talking about specific individual technologies, what we're seeing is blending, so for example the blending of #AI and facial recognition. A use-case of that I saw was for cosmetics, or it might be something like #Luxotica with glasses. That's really interesting because the significance of that, I think, is that it means that we now are getting real value for the consumer, as opposed to technology for technology's sake.
Another thing, which kind of sounds obvious, and I've touched upon it already, is AI, artificial intelligence; and that really seems to be coming of age now, where it's embedded in solutions, and I think generally you talk to people at the show and they would say that without AI you really haven't got retail, it's that key, it's that important. I think what we'll see over the next year or two is that AI will become the platform on which #retailers are able to deliver proper #personalisation.
Another key trend that I picked up is the role of the stores. Now of course as we know, stores are not dead. Yes they're closing, but they certainly are not dead and actually it's the opposite, they'll become far better. There are two things there that are really interesting; one is frictionless and seamless shopping for consumers, so there's a lot of people here who are displaying solutions which make that, from payments to scanning, to checkout to inventory control; and the other side of that coin is making it easier for the store associate. The role of the store associate is going to become very much more one of the brand ambassador. That's going to be very exciting to see how that develops. The role of #automation also for the store associate. So there's a lot of scaremongering that loads of people are going to lose their jobs, far less jobs in retail etc etc; I'm not sure I agree with that, I think that what will happen is that the jobs that people have in retail will be far more fun and exciting.
That's kind of a quick whistletop tour of NRF and some of the main trends I've picked up on, and it'll be fascinating to be back here in 12 months time and see what's actually come through.
#retailassist
_______________
TRANSCRIPT:
It's day 2 at NRF. Welcome to our second installment of the top technology highlights from the show. Today we will be bringing you the latest #retailtrends that are making the customer journey much more seamless.
#Augmentedreality and #digitalmirrors have perhaps struggled to prove their value within the retail #customerjourney in past years, this time at NRF the technology has really advanced to prove its relevance within the beauty industry.
In this example with #L'Oreal you can see how sophisticated the augmented reality technology has become. Enabling the customer to try different makeup looks more easily and conveniently, she no-longer needs to apply it and wipe it off to try another look. This would really suit duty-free counters in airports, where the customer usually has little time to find the right product.
We were also impressed with the two-way digital mirror, used for beauty tutorials, not only does it show live demos to an audience on the other side, but it can record the entire makeover for the customers to access afterward.
We've seen many payment providers at the show, and they're aiming to make the customer journey at the point of transaction a more frictionless process. One of these providers is #FingoPay, the only touch-point between the customer and completing their transaction is their finger.
"Hi, I'm Nick Dryden from #Sthaler Limited and I am going to show you FingoPay. We are here at NRF, on the #WorldPay stand where we are really introducing this for the second time to American retailers. What we built was a unified payment and loyalty data product, so it's identity in the cloud. What we use is your finger vein pattern to identify you uniquely. This device here, shines near infrared light and I can identify you within 200 milliseconds. We then attach that to a payment instrument or a loyalty card, enabling a consumer just to shop, purely using their fingers. In Camden town in London I can go to a bar, buy a drink and it will give me 10% cashback to my finger for the next time that I go. The key things are that it's fast, it's secure, it enables you to run instant and unified data and loyalty."
One of the main things is that as opposed to talking about specific individual technologies, what we're seeing is blending, so for example the blending of #AI and facial recognition. A use-case of that I saw was for cosmetics, or it might be something like #Luxotica with glasses. That's really interesting because the significance of that, I think, is that it means that we now are getting real value for the consumer, as opposed to technology for technology's sake.
Another thing, which kind of sounds obvious, and I've touched upon it already, is AI, artificial intelligence; and that really seems to be coming of age now, where it's embedded in solutions, and I think generally you talk to people at the show and they would say that without AI you really haven't got retail, it's that key, it's that important. I think what we'll see over the next year or two is that AI will become the platform on which #retailers are able to deliver proper #personalisation.
Another key trend that I picked up is the role of the stores. Now of course as we know, stores are not dead. Yes they're closing, but they certainly are not dead and actually it's the opposite, they'll become far better. There are two things there that are really interesting; one is frictionless and seamless shopping for consumers, so there's a lot of people here who are displaying solutions which make that, from payments to scanning, to checkout to inventory control; and the other side of that coin is making it easier for the store associate. The role of the store associate is going to become very much more one of the brand ambassador. That's going to be very exciting to see how that develops. The role of #automation also for the store associate. So there's a lot of scaremongering that loads of people are going to lose their jobs, far less jobs in retail etc etc; I'm not sure I agree with that, I think that what will happen is that the jobs that people have in retail will be far more fun and exciting.
That's kind of a quick whistletop tour of NRF and some of the main trends I've picked up on, and it'll be fascinating to be back here in 12 months time and see what's actually come through.
#retailassist
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