Tech giant IBM is working on a technology known as ‘Smart Mirror’ through which it plans to tie up with offline retailers The company will launch the technology in fashion retail Vero Moda’s stores. Smart Mirror is expected to enhance customers’ offline shopping experience through interactive fitting rooms which will connect retailers and customers digitally. The mirror will assist customers in understanding what product features are suiting them and can recommend changes.
The company is also integrating artificial intelligence to improve efficiency. According to companies estimate 50 – 60% sell well while rest are marked down. The company looks to analyse why a particular product did not sell well and guide the designers.
Offline retailers face increasing competition from new-age rivals like Amazon and the Walmart-owned Flipkart. This has been the primary reason that offline retailers have been investing in their technology capabilities.