Tech giant IBM is working on a new technology known as ‘Smart Mirror’ technology for retail sector and will soon be rolling out in retail brand Vero Moda’s stores.
Commenting on the move, Kamal Singhani, managing partner, Global Business Services, IBM India and South Asia said, “The plan is to convert more footfalls into actual sales at these stores.”
Smart Mirror technology is used in retail stores to enhance customers’ offline shopping experience. The interactive mirrors / fitting rooms allows customers to try on clothes digitally. It also assists customer with product features and recommendations on the display screen. Stores of Neiman Marcus in San Francisco, Lululemon in New York, Ralph Lauren in New York have deployed these smart mirrors to drive sales.
Online retailers like Amazon, Flipkart, Myntra have taken a toll on offline retailers and that’s why offline retailers have been investing in technology to drive customers in store. According to Forrester’s Online Retail forecast, India’s ecommerce sales are expected to grow 29 per cent annually over the next five years.
Taking advantage of the same, IBM is in talks with other retailers as well.
The company is also integrating artificial intelligence into its supply chain to improve efficiency. “We are building fashion taxonomy by analysing current fashion trends from multiple sources (catalogues, articles, blogs, images, social media) and predict future fashion trends. It currently categorizes colours, print and style,” Singhani said. “The technology will bridge the gap between the customer and merchandiser, which will help in improvising the inventory for the retailer.”
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