🗣 Augmented reality is the mall killer (if there is one)
🗣 Augmented reality is the mall killer (if there is one)
AND: Tom Ford, overcoats and outfit inspo
Do y’all shop in-store still?
I ask because I had an epiphany while logging the 8th hour on my Oculus yesterday (don’t you dare judge me).
Against all traditionalists, A/R is going usher in a new era of shopping. Yes, I get it! Nothing new. But we’re now seeing consumers opting out of malls in search of an intimate experience.
Which is why you’re hearing more about it. And you’re also starting to see a new type of retail experience around you (boutique stores, no inventory, try/then buy online, etc…)
But man, the ability to put try a shoe without having to go anywhere realllllyyyy has its perks. Will people embrace it? More on this later…
contents:
brand of the week
what’s in my closet
the virtual buying experience
what’s on the coffee table
what’s on the radio
random outfit inspo
what else?
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brand of the week: Mifland
Mifland Leather Goods is an American based mixed accessory goods company with a modern utilitarian approach. Through founder and brand director Tobi Egberongbe’s previous experiences and affinity to design, photography, architecture, contemporary furniture, a brand was created.
what’s in my closet: Sixth June overcoat
Sixth June launched in Paris in 2008, breathing fresh air into street style. With its innovative and reactive approach, its longline tees, bomber jackets, and sweats have helped it to become one of the most in-demand brands.
virtual buying experiences are hot
Those funny Snapchat filters ain't just for fun anymore. Major retailers are taking notice of the power of augmented reality and the impact it could have on the bottom lines.
Attention spans are shrinking and the growing hesitation to leave the house because of a ravaging pandemic has increased investments into virtual experiences. Have you played with a damn Oculus yet? It's WILD. A little corny. But, it gives a real glimpse into what our buying experiences will look like in the next decade. And malls are screwed (sort of). Unless they can adapt. Stores like Allbirds and Marine Layer in Austin, TX have embraced this amazingly by creating boutique and intimate environments.
The days of "I wish I could try this on" are gone. Wasn't that the only reason you went to the store anyway (besides TP, of course).
who's leading the charge?
Believe it or not, Snap Inc. will be at the forefront in changing our buying experience. And they've been focused on it MUCH longer than other companies out there.
acquisitions:
2015 - Looksery for Lenses
2016 - Bitstrips
2016 - Spectacles Launch
2016 - Acquired Flite, Israel based A/R startup
2018 - Snap Camera for PC webcams launched
2019 - Snap raises 1 billion in support of A/R
2020 - Acquires A.I. Factory for $166M
Retailers are looking to rely on A/R to help customers try on products. It displays goods as a filter, adding furniture to your apartment or dropping shoes on your feet.
COVID-19 created a mandatory push to move operations online, completely changing business models and causing retailers to scramble. And with Black Friday shopping sliding 20% and online purchases rising 21.6% (according to Morgan Stanley), online returns have become the final nail in the coffin. They've caused real headaches for brands and consumers. Which has lead brands to Snap's platform to add an array of new shopping experiences.
In June 2020, try on experiences from brands like Gucci and Dior started to pop up like crazy. Nearly 19 million Snapchat users have tried on Gucci products using a filter.
I don't think it'll kill the retail experience, but will make it better…
This doesn't mean it will turn into sales. They're still traditionalists out there. Many play with filters but never buy anything. This is why I don't think the retail experience is going away at all. It'll become boutique, more intimate with a sheer avoidance of malls in general.
Where I do think A/R will help are with returns. I've bought sooo many items from Black Friday that didn't fit, and if I had an A/R experience that was timely, I wouldn't have wasted my time, and brands I bought from could save on expenses and avoid inventory issues.
what’s on the coffee table: Tom Ford
This book is a complete catalog of Ford's design work for both Gucci and Yves Saint Laurent from 1994 to 2004. It chronicles not only Ford's clothing and accessories designs for both houses, but also explores Ford's grand vision for the complete design of a brand, including architecture, store design, and advertising.
what’s on the radio: Soirée Radio
A 24/7 music streaming channel perfect for long weekends, long days at work, or to simply have background music. Click the banner or follow the link to start listening to some nice beats!
random outfit inspo:
what else?
The 10 Themes That Will Define the Fashion Agenda in 2021 [ARTICLE]
Each of the 10 defining themes from The Business of Fashion and McKinsey & Company’s authoritative annual report, The State of Fashion 2021, examines a major disruption sparked by Covid-19 and outlines how to overcome obstacles on the road to recovery.
These $4,400 Sneakers Are the New Stilettos [ARTICLE]
Demand for high heel shoes was down 12 percent and heel boots saw a decline of 9 percent from the year before.
See you next Tuesday,
Shaan
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