Business

Five Tips From Five Experts to Jump-start a Retail Business

Retailers and fashion brands have a lot of tools available that can help move the needle on sales and profits. Whether it’s leveraging data from social media to build consumer profile composites or using augmented reality in the product development phase to reduce waste and redundancies, technology is a positive enabler for business.
Here, WWD offers five tips from technology experts that can help improve results.
Mix It Up
Mark Hardy, chief executive officer of InContext Solutions, said companies should use “mixed reality to test new ideas.”
“One innovative technology that is quickly becoming more and more popular with retailers is mixed reality,” Hardy said. “It lets forward-thinking retail teams create, test and collaborate on concepts faster and more accurately than ever. By setting up virtual stores, retailers can learn how real shoppers interact with new virtual store layouts and aisle flows, react to new signage, and engage with a new display type — without the need for a mock store and before implementing changes in the real world.”
Hardy said the software behind the technology and the simulations it generates “gathers data that retailers can use to make more confident decisions around merchandising, store planning and design. In short, mixed reality enables a process of decision-support

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