March 27, 2014

A New Era

Every day we hear about experimental leaps in technology and how it is revolutionizing the ideals of the retail sector. With so many new developments and changes, what can we expect to actually stick around to transform us from the present to the future? 

photo via CNBC

We first introduced the idea of Bitcoin about a year ago and now that successful retailers like accept this electronic payment others are beginning to incorporate it into their changing business strategies. Hudson's Bay Co. which operates Hudson's Bay, Saks and Lord & Taylor department stores has launched a new shopping app Pounce that utilizes the digital currency so customers can directly shop and purchase from the retailer's catalog on their mobile phones. 

video via

Speaking of department stores, the infamous Nordstrom has launched a new initiative called the Fashion Project which is an online donation experience that takes lightly worn designer clothing and does two great things: donates to a charity of your choice and as long as 5 pieces meet the requirements, the donator receives a $40 gift card. This is just one example of the growing demand for "re-commerce" which all has to do with the current state of the economy and a desire for unique clothing with a bit of a story. 

Leading e-commerce giant Amazon is making another unprecedented move via an online storefront of 3D printed products. By partnering with the startup 3DLT, Amazon is now the first major retailer to actually capitalize on 3D printed designs like quirky jewelry, plastic toys, iPhone cases and belt buckles. Besides making profits and trying to take over the world, what is Amazon really masterminding? Well maybe one day they won't need warehouses because they'll be selling 3D files that consumers can purchase and print at home, ultimately creating a just-in-time retail experience aka one day we'll be able to order anything we want, exactly as we want it.

photo via WWD

In other exciting news, there are a load of store openings to look forward to like H&M's Cos in both SoHo and Beverley Hills, the first ever Nasty Gal store, and the launch of Cross Company's new ethically minded mega-chain that will all be hitting the US market soon.

And things don't stop here. With fashion photographers becoming brands, models acquiring PH.Ds, and even something called Fashion 2.0 Awards for best social media achievements and top innovators, what else does the foreseeable future hold? Well for one, we are spending way more time shopping on the web and this alone will shape a new era of retail. 

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