London – Farfetch has unveiled the beta version of its Store of the Future concept.
Revealed as part of the brand’s FarfetchOS conference at the Design Museum, the Store of the Future uses technology and consumer data to personalise the retail experience and enable staff to become ‘in-store influencers’ rather than inventory controllers.
The concept featured a clothes rail that collects data on customer interactions and saves it to an app for future reference, and an interactive mirror that enables users to view their product wish list, request different sizes and pay for products from the comfort of the changing room.
‘Physical retail accounts for 93% of sales today, and even with online growing at speed, it will account for 80% by 2025,’ says Jose Neves, founder and CEO of Farfetch. ‘Retailers need a way to collect information about their customers while they are browsing in-store just as they collect data from online searches.’
For more on Farfetch’s luxury e-commerce strategy, read our Opinion from Stephanie Horton, chief marketing officer at Farfetch.