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THIS ISSUE OF C_NCENTRATE IS FREE THANKS TO TBD CONFERENCE
AMAZON TO OPEN FASHION MEGASTORE
Amazon had a rough week (stock price drop), but did announce ‘Amazon Style’. A 30,000sq ft fashion store meets personal shopper experience. The fashion world isn;t convinced and nor are a lot of analysts, but it’s new, different and shiny so therefore it is worthy of exploration in my book. Customers can find clothes on racks like a normal clothing store, but they will need to scan a code on the Amazon mobile app to select a colour and size that they wish to try on. The twist? The clothes are in the fitting room when you are summoned. The price point is interesting; Amazon managing director Simoina Vasen confirmed attire will be available from £10 - $400. How much data do you think Amazon could get on a customer in a 30-minute visit?
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__ DO __ Expect a data and a returns play. Amazon needs to give people the warm fuzzies as well as look fluffier to Congress and co. This experiment is as much of interest to Amazon as it is to everyone else. Can they replicate online speed and offline experience? Many believe they just don’t think in the real world and say they’ll struggle. // __ DON'T __ Expect a quick success. Expect a tepid response from the public. There’s too much that can go wrong here. Cameras, biometric payments and a lot more besides. Amazon will need to prove it can deliver on real-world shopping as much as online. Something it has failed to do so far…which isn’t to say the company can’t. You can pay using your palm courtesy of the biometric palm-scanning system “Amazon One” being used at the checkout too. How post-pandemic consumers will react will be interesting.
Fashion and the internet have long been frenemies. Amazon is trying to push them closer than ever and avoid the returns that cost it money and make it look bad to environmentalists. Amazon will also be looking to obtain trend data (CA is a fashion hub) and people data. Remember the body scanning technology no one wanted in their homes? Well, it won’t be in the dressing rooms apparently (sure, Jan).
// Do you know enough about the moves Amazon is making in retail, tech, content, healthcare, space? Now you do.
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