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3 technology trends set to revolutionize retail

CIO Business Intelligence

Few verticals have undergone as massive a change as retail in the last couple of years. Driven by cutthroat competition and significant shifts in customer expectations, retail companies are striving to align themselves with the changing landscape, with IT playing a crucial role in their ability to achieve this.

Retail 75
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Avalara co-founder leads new advisory firm helping companies create digital assets

GeekWire

based advisory company that is helping brands use regulated digital assets to capitalize on their products and projects. But some believe the “metaverse” is dead , given how the hype around virtual worlds from companies such as Meta and Microsoft has quickly been replaced by generative AI and other trends.

Company 145
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Meta is opening its first retail store next month

The Verge

Meta is launching its first hardware retail store on its campus in Burlingame, California. The store, which opens May 9th , will let visitors try out and buy Meta’s Portal videophones and Quest virtual reality headsets. Meta is also adding a “Shop” tab to its website, making it easier to find all its products in one place online.

Retail 94
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Microsoft to permanently close physical retail locations; will incur pre-tax charge of $450M

GeekWire

Microsoft is shutting down its entire physical retail operation and instead will focus on its digital storefronts via Microsoft.com, as well as stores in Xbox and Windows. The surprise announcement comes amid the COVID-19 pandemic that has forced companies to temporarily or permanently close brick-and-mortar locations.

Retail 145
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I had a blast playing ‘Squid Game Virtuals’ at a VR arcade — but here’s why I likely won’t return

GeekWire

(Sandbox VR Photo) After years of hype, virtual reality still hasn’t achieved mainstream consumer adoption. We spent a weeknight at Sandbox VR in Seattle, one of more than 45 locations worldwide where the San Francisco-based startup offers virtual reality experiences for groups of 2-to-6 people.

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Retailer REI launches programs to invest in startup founders of color selling outdoor gear

GeekWire

In an effort to sell more goods from companies run by people of color, outdoor retailer REI is launching a program to support diverse entrepreneurs producing gear for camping, hiking, biking, skiing and related activities. According to REI, only 1% of retail brands are owned by people of color. REI Photo).

Retail 105
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Amazon to try another tech-infused retail concept with ‘Amazon Style,’ its first physical fashion store

GeekWire

Move over books and groceries, Amazon’s latest foray into physical retail is focused on fashion. The e-commerce giant announced Thursday that it will be launching Amazon Style, a store blending the company’s technology expertise with some shoppers’ lingering desire to still be able to touch and try on items.

Fashion 124