![]() Some of the trends driving this include a growing retail industry due to rising urbanization, increasing disposable income, and changing consumer preferences a growing e-commerce market, with countries such as China, India, and Indonesia experiencing significant growth in online sales and more technology investment, as the APAC region is home to many technology hubs such as China, South Korea, and Japan. The report specifically looks at the Asia Pacific (APAC) region as one that "is expected to have favorable growth in the smart retail market in the coming years." That is a compound annual growth rate (CAGR) of 26.0%. ![]() The Digital Design Studio helps us execute on this omnichannel experience, by making it easier for customers to find what they are looking for and ultimately have greater confidence and satisfaction in their purchase."Īccording to a research study from Prophecy Market Insights, the smart retail market will grow 10x from 2020, when it was valued at $21.4 billion, to 2030, when it is expected to valued at $211.25 billion. "Wayfair strongly believes in meeting our customers where they want to shop, whether online or in-person. "Experimentation and innovation with an eye on improving the customer experience is at the heart of everything we do at Wayfair," said Fiona Tan, CTO of Wayfair, in a statement. According to what the company told Retail Dive, it currently does not have specific plans to expand the technology into more stores, but it is looking to learn more about how customers use the kiosk and will use that data to explore additional features. "The DDS presents shoppers at Wayfair’s physical stores with a novel way to browse and interact with Wayfair furnishings that are not on the showroom floor: they can view furniture in a different fabric and finishes or even put together small furniture arrangements."Ĭurrently, the DDS is being deployed in pilot mode in just one store: Wayfair's AllModern location in Dedham, MA. However, physical furniture stores have a limited selection of furnishings available to browse, constrained by the store’s showroom floorspace," Nicole Tan, Senior Creative Technologist at Wayfair, wrote in a blog post. "When shopping for furniture online on Wayfair, customers have access to a nearly endless selection of home furnishings. The customer can change the time of day by using special lighting cards, use the camera card to move the viewpoint around in the scene, and switch out the background scene to better match their own home. ![]() As they place more cards on the table, and move and rotate the cards, the customers sees the virtual scene update. The screen then changes as a version of the product on the card is placed in a virtual modern room. When a customer uses DDS, they are given a selection of product cards, which they can place on a screen to start designing. This mix of online and offline shopping is already the primary buying method for 27% of all consumers, and 36% of Gen Zers, and now it's what home goods online retailer Wayfair will be offering its users with the launch of the Digital Design Studio (DDS), an in-store kiosk that allows customers to create and interact with a variety of design layouts and experience products in a digital, 3D room. The future of retail certainly isn't going to be all in-person, that we've known that for a long time it likely isn't going to be completely online either, though. The reality is more likely to be a hybrid situation, or so-called smart retail, which combines traditional shopping with and modern “smart” technology, using big data analytics and technologies like the internet of things, AI, VR, and AR to give the customer a better shopping experience. The Digital Design Studio technology is so far being piloted in one Massachusetts store
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