An interactive shopping experience

By Jeffrey Burrow & Xiao Chen

Background1. Company founded by Salvador Nissi, Memomi is a virtual

mirror that provides a first-of-its-kind interactive shopping experience.

2. With simple body gestures or smartphone app, shoppers can control the memomi to see the 360-degree back and side view of themselves in new outfit styles, sizes, and colors.

3. Focuses on sharing these outfits via smartphones and social media

https://www.youtube.com/watch?v=w3dVOP5IBI4

Strengths1. Increases sales and break down current retail boundaries

2. Allows customers to take their in store experience with them

3. User has complete control over technology

4. Converts otherwise anonymous, in-store visitors into “connected customers”5. Users can go anywhere with the outfits they have tried on6. A partnership with Intel can boost exposure

Opportunities1. Remarket and retarget customer opportunities.

2. Increase customer loyalty.

3. Reduce investment in inventory by minimizing overstock

4. Reduce operating expense.

5. Acts as powerful marketing tool when shoppers share their virtual shopping experience through the multiple social media channels

Weakness

1.The costs of investment are high

2.Shopper still needs to try on clothes to make sure it is comfortable

3.The accuracy of this technology can be questionable

4. Not sure how much of customers will find this useful

Threats1. Other companies trying to build “virtual fitting rooms”

2. Includes companies like Fits.me (Online) & StyleMe (Cisco)

3. It becomes a race on which retailers would bite on the technology

4. Customers moving away from the in-store experience

Sources

1.http://www.intel.com/content/www/us/en/retail/nrf-2014/memory-mirror.html

2. http://www.memorymirror.com/