Artificial Intelligence

Walmart augments training with virtual reality
While the industry continues to explore how to leverage virtual reality, Walmart is embracing the technology in a big way. The retail giant will be adding VR-based instruction at its 200 Walmart Academy training centers in the United States by the end of the year. The technology will be used to educate approximately 140,000 employees that go through the program each year, according to Walmart.
Hot fitness equipment start-up to expand retail footprint
Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital. The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.

Robots, coming to a store near you

Yes, it’s official. The robotics revolution is coming to retail, as it is in many industries. I know robots roaming store aisles probably still sounds like something from “Back to the Future,” however, within a decade, I’m confident they will be such a normal part of the store experience we will find it hard to imagine life without them.
Study: E-commerce fraud is declining — but the battle continues

E-commerce fraud as a percent of sales dollars may be on the decline, however losses still account for billions of dollars. This was according to the “Q1 2017 Global Fraud Index,” a report from Pymnts.com and Signifyd. The study measures and benchmarks innovations and trends that are reshaping the payments and commerce ecosystem.
Accenture launches new customer innovation center

Accenture is taking on its next innovation initiative. The company announced on Wednesday, May 31, that it opened an innovation hub dedicated to the retail, fashion and consumer goods industries. The Accenture Customer Innovation Network (ACIN), which resides in Milan, Italy, bolsters the company’s existing fleet of innovation facilities in Bangalore, Chicago, Manila and Singapore.
South African merchant improves in-store omnichannel fulfillment

Woolworths is taking steps to bolster its online shopping experience. Woolworths South Africa, a division of Woolworths Proprietary Limited, is known for its vast assortment ranging from groceries, fresh produce and prepared food to clothing, beauty products, home goods and general merchandise. As the company entered into the world of omnichannel, it knew it had to deliver easy access to its merchandise, and provide a painless experience for online customers.
Warby Parker offers at-home eye exam — via app

Warby Parker is taking self-service to a new level. The eyewear retailer built its brand on enabling online shoppers to create their ideal pair of specs. Now the company is further extending its self-service options with an app that lets shoppers take a vision test at home.
Online giant on the hunt for 'innovative' store designer

Amazon is beefing up the team responsible for its grocery store concept. According to a job description on LinkedIn, the company is looking for an "innovative" store designer to join its Amazon Go ACE (Architecture, Construction & Engineering) team. The ideal candidate, according to the posting, is a "self-starter who thrives in a fast-paced, ambiguous environment and has a deep passion for innovative retail design."
CBRE airs retail innovation videos

CBRE’s Melina Cordero, an expert in consumer behavior, has produced a series of videos to instruct brick-and-mortar retailers in how to get more results at the point-of-sale. The first three of these can be viewed on CBRE’s new retail innovation website.
Top four items on retail tech wish list

Self-checkout technology tops the list of items that IT professionals would like to see in use over the next year, according to a poll by CompCom. “It’s perhaps not surprising to see self-checkout rise to the top in the poll, since paying for purchases is probably the least pleasurable part of the shopping experience, and making the process as quick and easy as possible is increasingly important to retailers," said Tom Alvey, senior VP, retail solutions group at CompuCom.
Twitter features fun — not transactional — bot program

A social media giant is getting in on the chatbot wave. Twitter launched a new, customizable Direct Message Card that brands can use to promote and share bots and other customer experiences built in its Direct Messages tool. Direct Messages helps companies create personalized ads and interactions — ranging from customer acquisition programs to engaging bots.
Lowe’s VR app spurs project planning

A home improvement chain is helping shoppers better envision how to design and build their homes. Though a partnership with Google, Lowe’s launched the Lowe's Vision app. Powered by Tango, a 3D technology developed by Google, the app leverages augmented and virtual reality to enable shoppers to begin planning their renovation needs before they even set foot inside a store.