CEO Trevor Sumner '98 explained in an interview why he believes retail isn’t dead, what he does, how Princeton impacted his experience, and what advice he would give to startups.
In June 2019, Macy's — partnered with digital display firm Perch — installed digital fragrance bars at 34 locations across the United States. — Macy's
While the first wave of IoT in retail was about data and analytics, the next wave will be about affecting in-store behavior with interactive marketing. Interactive displays, “magic mirrors,” and other immersive technologies are helping retailers build a bridge between brick-and-mortar and online shopping experiences. In the process, retailers are unlocking a wealth of digital content at the critical point (90 percent) of in-store retail purchases being made as customers are touching products.
At Perch Interactive, for instance, the focus is on elevating traditional product displays by adding an interactive component. When a customer picks up an item from the shelf, the motion triggers an accompanying digital display that then shows important product information, styling advice and recommendations for similar items.