Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
Between Web3, the metaverse, and artificial intelligence, the retail world is committed to experimenting with emerging technologies.
Here are some of the industry’s most interesting, surprising, and notable retail experiments with emerging technology from April 2023:
- Starbucks released its second collection of NFTs to beta users of its Web3 loyalty program, Starbucks Odyssey, on April 19. The “Starbucks First Store Collection” included 5,000 “stamps” (what Odyssey calls NFTs) featuring images that commemorate the first Starbucks store: 1912 Pike Place. Also in April, Starbucks unveiled a tiered rewards system for Odyssey members, which parallels the chain’s original points system. Odyssey members earn points by completing groups of tasks called “Journeys,” or by purchasing stamps. Depending on the number of points they’ve accumulated, members selected from a range of rewards that included virtual coffee tastings, Starbucks merch, and the chance to name a tree on a Starbucks coffee farm.
- American Eagle announced its new resale site, RE/AE in partnership with ThredUp, alongside an augmented reality experience in Snapchat, powered by the social media platform’s updated business tools (also announced in April). RE/AE shoppers can use Snapchat to browse a virtual store and try on 200 items from a curated collection, all through an American Eagle “shopping lens” (augmented reality experiences that users can see in the Snapchat camera).
- AI Fashion Week came to New York for its inaugural show in late April, where 24 screens showed runway-style designs created with various imaging software. The event was actually the launch of a competition, in which the public and then a panel of experts will choose three winners, whose designs will be produced and sold by Revolve.
- Metaverse Fashion Week also took place in April, on metaverse platform Decentraland, in partnership with Over the Reality and Spatial. Brands including Adidas, Coach, Dolce & Gabbana, and Tommy Hilfiger hosted virtual runway shows and pop-up shops, showcasing unique and sometimes gravity-defying wearables, some of which could be purchased in both digital and physical forms.
- Panera introduced an updated voice ordering capability in partnership with Amazon, putting conversational AI to work on the restaurant chain’s immense menu. Panera is the first retailer to put Amazon’s new tech to use, and doing so involved teaching Amazon’s model every possible variation and combination of menu items.
That’s it for now. I’m off to decide which reward to redeem with my Starbucks Odyssey points. Catch you later!—MA