IKEA Webloyalty Report innovations

Retail Innovation Video: IKEA Augmented Reality App

Is the IKEA Augmented Reality app a retail innovation?

Image courtesy of Wired: http://goo.gl/BoMOvi

Image courtesy of Wired: http://goo.gl/BoMOvi

In a nutshell, IKEA has introduced an augmented reality app, which allows customers to use the catalogue to see how items would fit and look inside their own home. This is after research revealing that many of us are not sure about the dimensions of our own home, and many returns are processed as a result.

In the recent report by Retail Insider, titled Digital Retail Innovations Report 2014, this innovation from IKEA has not only ranked in the Potential Influence Across The Sector and Potential Benefit to Customers categories, but also came 9th overall in the report.

Discussing IKEA’s innovation

Discussing IKEA’s Augmented Reality app, Transform’s Joe Tarragano and Retail Insider’s Glynn Davis agree that this is both great for consumers and for the retailer. For IKEA, this app brings opportunities to up- and cross-sell, at the time of browsing, as well as possibly reducing returns as customers have more awareness of what they are buying, and how it will fit into their homes. For customers, not only is the app quite fun to play around with, but it’s also a great way to have a look at the furniture as it would appear. As these are potentially quite large scale, and high price, items, it gives the customer some reassurance at point of browsing.

What do the speakers think?

Picture courtesy of Transform UK.

Picture courtesy of Transform

“I think the market share that IKEA has means that augmented reality is going to get some real exposure with consumers. I also think it’s a good thing in terms of reigniting the life of the catalogue”

~ Joe Tarragano, Transform

Retail Insider Glynn Davis on the Webloyalty blog“You can mix and match products, which suggests that there’s a greater opportunity for sales from IKEA’s point of view. The consumer has then got the inspirational aspect”

~ Glynn Davis, Retail Insider

The Digital Retail Innovations Report

You can see the full report on the Webloyalty website, follow @WebloyaltyUK for updates, or view all five videos below.

Retail Innovation Video: Tesco Electronic Labels

Are the Tesco electronic shelf-edge labels a digital retail innovation?

Courtesy of GizModo: http://www.gizmodo.co.uk/tag/zbd-displays/

Courtesy of GizModo: http://www.gizmodo.co.uk/tag/zbd-displays/

Retail Insider recently released the Digital Retail Innovations Report, sponsored by Webloyalty, which ranked Google Glass as the best innovation for retail. There were also four categories, and this Tesco innovation ranked 3rd for Innovation with most Commercial Potential and also for Innovation with most Potential to Influence the Sector.

Discussing Tesco’s Innovation

This video features Glynn Davis (@GlynnDavis) from Retail Insider, and Webloyalty‘s Guy Chiswick (@Webloyalty_Guy).

Talking about the Tesco electronic shelf-edge labels, the speakers agree that the innovation will save the supermarket chain a great deal of time and money in the long-term. As the initial cost of the technology has recently dropped, the initial investment will be lower than usual – and will help Tesco with the millions of price changes they make each week. Currently, Tesco will take around a week to make the price changes, relying on staff members and resource time as well as getting physical labels to the store. With this new system, the time spent on price changes could be reduced to under an hour. Not only will it be time saving, but it also has the potential to be commercially beneficial for Tesco, as they can implement timely offers and reductions to clear stock.

Quotes from Guy Chiswick and Glynn Davis

Retail Insider Glynn Davis on the Webloyalty blog“What could be the big opportunity is when the likes of Tesco start to look at dynamic pricing”

“Also, for clearing end of line stocks, particularly in fashion goods, they could reduce them pretty easily via electronic shelf-edge labels”

~ Glynn Davis, Founder, Retail Insider

 

Webloyalty Guy Chiswick about the Retail Innovation report“Tesco’s electronic shelf-edge labels are really innovative in that they take away the challenges that a supermarket has in fulfilling traditional labels”

“It’s as technology should be. It makes a difficult onerous process in terms of printing labels, getting them to the store, and putting them on the shelf, and it simplifies it”

~ Guy Chiswick, MD, Webloyalty Northern Europe

You can find a transcript of this video here, as well as all four other videos, for quoting purposes. @WebloyaltyUK @RetailInsider

The full Retail Innovations Video Series

Digital Retail Innovations: Greggs Rewards Video Discussion

Is Greggs Rewards a Retail Innovation?

In this video, part of the Digital Retail Innovations series, Guy Chiswick from Webloyalty and ResearchFarm’s Daniel Lucht discuss the innovation of the Greggs Rewards app.

This video series is part of the launch of the Digital Retail Innovations Report by Retail Insider, sponsored by Webloyalty.

The Greggs Rewards app discussion

Webloyalty Guy Chiswick about the Retail Innovation report“Greggs Rewards takes a basic app, and turbocharges it with the payment element, makes it much stickier to drive loyalty from customers” ~ Guy Chiswick, Webloyalty

@Webloyalty_Guy

 

Daniel Lucht from ResearchFarm on the Webloyalty Blog“In a convenient space with lower average baskets and very short time frames it fits together perfectly, and that’s why this innovation has been rated so highly”

~ Daniel Lucht, ResearchFarm 

If you would like to quote this video, feel free to see the full Greggs Rewards Innovations Transcript, and remember to credit Webloyalty. You can see the full Innovations playlist here:

Webloyalty Digital Retail Innovation Report 2014 Greggs RewardsWhat do you think? Which innovation do you believe to be the most beneficial to retailers and customers alike? Have a look at the top rated ones over on the Retail Insider report. @WebloyaltyUK

DPD Follow My Parcel Innovations Video Transcript

In line with the release of the Digital Retail Innovations Report from Retail Insider, and sponsored by Webloyalty, we have created five videos to discuss the most exciting of the innovations. This is just a transcript of the DPD Follow My Parcel video, but you can see the full playlist on the Webloyalty YouTube channel. Continue reading

IKEA Augmented Reality App Innovations Video Transcript

In line with the release of the Digital Retail Innovations Report from Retail Insider, and sponsored by Webloyalty, we have created five videos to discuss the most exciting of the innovations. Continue reading

Webloyalty shares insight around the retail sector, and recent innovations and developments.