Hointer's OmniCart is a software application that makes it possible for consumers to easily shop using their mobile devices in-store and at home—within that application is an extension called 'Microwarehouse,' that promises to make brick-and-mortar locations more profitable than online outlets.
As noted by Microwarehouse's developers, "Conventional wisdom says that it is cheaper to fulfill online than sell product instore." However, this platform features tools to help a store shrink its footprint, boost in-store selections, reduce shrinkage and convert physical stores into high-tech hubs.
The system is designed so that only one item of each style is displayed, giving retailers more room to display an assortment of other products. To shop, consumers simply interact with product eTags in-store or at home, putting information at their fingertips about different styles and colors available. When it comes time to check out, the process can happen from a user's mobile device in order to completely eliminate long store lineups.
Key Themes Behind This Trend
- Mobile Shopping
- Mobile applications that enable shopping in-store and at home are gaining popularity, offering convenience and eliminating long store lineups.
- Smart Store Technology
- Intuitive inventory platforms like Microwarehouse are transforming physical stores into high-tech hubs by using tools to boost in-store selections, reduce shrinkage, and optimize retail space.
- Personalized Shopping Experience
- With the ability to interact with product eTags and access information about different styles and colors, consumers are empowered to make informed choices and create a personalized shopping experience.
Where This Applies
- Retail
- Intuitive inventory platforms like Microwarehouse have disruptive innovation opportunities in the retail industry, transforming traditional brick-and-mortar stores to compete with online outlets.
- Mobile Apps
- The rise of mobile shopping applications presents disruptive innovation opportunities for the mobile app industry, offering convenient and personalized shopping experiences for consumers.
- Technology
- Smart store technology, such as intuitive inventory platforms, is driving disruptive innovation in the technology sector, enabling the optimization of retail spaces and enhancing the customer shopping experience.
