Oak Labs is a start-up that's addressing issues with brick-and-mortar shops with cutting-edge technology. According to research by Alert Tech, shoppers who frequent the fitting room are about seven times more likely to make a purchase than those who simply browse the sales floor.
Oak Labs makes smart retail mirrors that can be used to view items and suggest complementary product pairings. Currently, Ralph Lauren and Rebecca Minkoff are a few of the upscale fashion retailers that are using technology from Oak Labs.
In the coming weeks, the company has plans to unveil a new feature for its smart mirrors, which will allow customers to "wave their phones in front of the mirror and make a purchase using Apple Pay or Android Pay." If an item happens to be unavailable in-store, consumers will be directed to the retailer's website so that an online purchase can be made via the smart retail mirror's touchscreen.