Important Innovations Collection

Retail Innovation                                          Source:  TUMI Virtual Store TUMI's Virtual Stores Global luxury brand TUMI, headquartered in South Plainfield, NJ, is launching a highly innovative, virtual store platform. to deliver an immersive, multichannel retail experience.  The virtual approach will roll out to customers in the Asia Pacific region and the Middle East.  The virtual store launch ties into the debut of TUMI's spring 2021 collection of bags, luggage, backpacks and other luxury travel items. TUMI defines itself as a leading international lifestyle, international travel and performance brand. Digital Retail  TUMI's virtual store is a look at the future of digital retail.  Using interactive touchpoints, customers will be able to explore products through 360 degree, 3D and AR (augmented reality) presentations. They ...

Appoints former Google Executive as Chief Innovation and Digital Officer Source:  Tod Company Store Chasing Young Luxury Consumer Italy's Tod, the luxury shoes and leather goods brand, has appointed a former Google executive Alessandra Domizi as their new Chief Digital and Innovation Officer.  The clear intent is to ramp up the global company's digital strategy, including online sales and marketing.  Ms. Domizi was previously Google's top industry executive for fashion and retail.  Tod's efforts are an important example of the infiltration of digital technology and marketing and the growing importance of online shopping, even at the luxury level. Targeting Millennials Building Disposable Income Tod is focused on accelerating its luxury digital efforts to pull in younger customers, particularly millennials who are starting to build disposable income.  Tod's sales started to decline a bit in 2017.  It was then that they started developi...

Online Pet Retailer Share Price Soars Source: German Shorthaired Pointer Stock Image Combining Pet Products and Online Innovation Chewys, which is PetSmart's online retailer, just launched an Initial Public Offering that has resulted in a market cap of $14 billion.  For the IPO the share price was targeted at $22.00 but it soared 59% to $35.00  It's one of the top IPO's of 2019 on the NYSE Investors Betting on Americans Increased Spending on Their Pets The online pet retail company is based in Dania Beach, FL.  It is the latest unprofitable technology company to enjoy an IPO surge this year.  Investors are clearly banking on Americans' increased spending on their pets - $73 billion last year - and the migration to doing the spending online.  The company says it is considering expanding overseas and also expanding inhouse brands including its pet pharmacy online.  In this case, you might say "going to the dogs and cats" is a good place ...

Artificial Intelligence Changing the Retail Industry Source:  MemoMi No More Fitting Rooms The retail industry will be dramatically changing over the next ten years. Artificial intelligence, augmented reality and virtual reality are expected to radically transform the shopping experience.  In fact, it's already started. Smart Mirrors Smart mirrors are being deployed at nearly three dozen Neiman Marcus stores.  Using AI, AR and gesture recognition technology, the digital mirrors superimpose clothing on your image.  It's a virtual changing room that lets you see yourself in different outfits in a matter of seconds.  No need to change in a fitting room. MemoMi The smart, digital mirror was invented by the company MemoMi, whose founder and CEO Salvador Nissi  Vilcovsky holds 20 patents.  The smart mirror can be used for make-up, eyewear, footwear, clothing and accessories in real-time.  You can even share your image on social media to g...

Healthcare, Home, Retail Source:  Samsung Bots at 2019 CES Bot Care Samsung recently introduced three new service robots at the 2019 CES.  The Bot Care robot is for health care. It has a wide range of functionality.  It's able to measure blood pressure, breathing and heart rate. Its face display allows you to make video calls.  That display can also play music and provide you your daily schedule and the weather.  Bot Care also provides you an alert to remind you that you haven't taken your medicine. Bot Air The new Bot Air contains sensors positioned around your house to monitor air quality.  If the quality isn't quite right, the bot goes to the location and filters the air until the quality is fine. Bot Retail Bot Retail has facial recognition and vision identification to help consumers find the items they want.  Customers can access store details and menus on the bot's face to purchase goods.  These are three, new examples of the gr...