Lowe’s introduces virtual 3-D room remodeling for customers
Mooreseville, N.C. — Lowe’s has launched Lowe’s Innovation Lab, with a goal of creating new technology to solve common consumer frustrations while working alongside start-ups, universities, specialized professionals and other companies. The first concept to come out of the lab is the Lowe’s Holoroom, a home improvement simulator that applies 3D and augmented reality technologies to provide homeowners an intuitive, immersive experience in their dream rooms.
"We know that for many homeowners, the struggle to visualize a completed home improvement project or to share that vision with others can stop a project in its tracks," said Kyle Nel, executive director of Lowe’s Innovation Labs. "The Holoroom is our solution, enabling consumers to visualize their project and share that vision with family and friends."
A customer uses the new solution by choosing their preferred products, and then viewing and experiencing the products in the Holoroom. While in the Holoroom, they can make changes to the room design until they are satisfied with the results. They can then take home a printout or view a 3-D model of the room which they can share with others via with a free app available on iOS or Droid devices.
"Lowe’s wants to lead innovation by developing disruptive technologies that will help us establish a long-term competitive advantage," said Nel. "Lowe’s Innovation Labs will allow us to quickly bring in new technology and new partners, explore a wide range of possibilities and identify opportunities to develop concepts like the Holoroom."
SciFutures, a foresight and innovation consultancy, partnered with Lowe’s on the development of the Holoroom.
The Lowe’s Holoroom will be introduced in select Toronto stores in 2014, and equipped with thousands of products to help customers plan a bathroom remodel.
Additional product categories and rooms will be added to the solution in the next 12 to 18 months.
Lululemon Q1 plunges; CFO to retire
Lululemon Athletica Inc.’s first-quarter net income plunged 60%, impacted by a one-time tax adjustment. Although its adjusted profit and revenue beat Wall Street’s expectations for the quarter, the retailer lowered its full-year earnings forecast.
Lululemon said that CFO John Currie plans to retire by the end of its fiscal year (February 2015).
Lululemon earned $19 million for the period ended May4, down from $47.3 million in the year ago period. The quarter had a tax expense of $52.5 million, which included a non-recurring adjustment of $30.9 million for the planned repatriation of foreign earnings that will be used to fund a buyback program.
Revenue increased 11% to $384.6 million from $345.8 million. Same-store sales inched up 1%.
The earnings report came a day after Lululemon founder Chip Wilson said that he voted against the re-election of outside directors Michael Casey and RoAnn Costin. Wilson, saying that he believes board changes are needed to help increase shareholder value.
Trust, Transparency Best In-Store Deal for Shoppers with Mobile Phones
By Jules Polonetsky, executive director, Future of Privacy Forum
In mid- May, over 30,000 professionals from the shopping center industry gathered in Las Vegas for the ICSC’s annual RECon event.
In addition to discussing leasing and the state of the retail market, for the first the first time a new topic was on the agenda – consumer privacy.
Why? Because the use of new technologies to improve the shopping experience and improve retail performance has become a major focus for every major shopping center and for thousands of retailers.
Apps that help consumers navigate malls and find the products they want, technology that helps drivers find parking spots, and even high-tech sensors that help report on how pedestrians move through stores have become essential.
These new technologies provide benefits for both retailers and their consumers. But many of these technologies rely on tracking consumer data and raise privacy concerns – if deployed in ways that surprise consumers.
One new technology has been of particular interest to malls and retailers, but has also been the subject of debate.
Mobile location analytics leverages the fact that it is feasible to track the Wi-Fi or Bluetooth signals of customers’ smartphones, allowing tech vendors to create reports about aggregated patterns of customer traffic. Reports can indicate whether retail spaces are being laid out in an efficient way, for instance, and estimate wait times and checkout. Mall operators can understand the impact of anchor tenants on other shops and the effectiveness of special events and promotions at bringing shoppers into stores.
It’s not a surprise that the deployment of these technologies has led to critical media stories about surprised shoppers who express annoyance when told that they are secretly having their phones tracked.
To respond to these concerns, the Future of Privacy Forum partnered with Senator Charles Schumer to create a “Mobile Location Code of Conduct” for venues using location analytics.
Our goal was to support consumer trust and to enable the use of an important and beneficial technology. We did so by working with the leading mobile location companies who agreed to provide consumers with notice and choice about how the technology is used by putting enforceable guidelines in place to create best data practices that will provide transparency and choice for consumers.
Specifically, the code calls for the display of conspicuous signage by retailers, and for a central opt-out site for consumers. Companies that commit to the Code must limit how the MLA data they collect is used and shared, and how long it may be retained.
In addition, data cannot be collected or used in an adverse manner for employment, health care or insurance purposes.
To date, 11 companies have committed to the Code: of Conduct: Aislelabs, Brickstream, Euclid, eyeQ Insights, iInside Measurance, Mexia Interactive, Radium Networks, Solomo Technology, Turnstyle Solutions, and Path Intelligence.
We believe the creation of aggregated reports benefits consumers, but the creation of a central, do not track option at www.smart-places.org to ensure consumers who wanted to decline could do so is a critical and necessary step in parlaying trust and transparency into a more loyal, and more lasting consumer-retailer engagement.
Mall operators and retailers can ensure that they use consumer data in a trustworthy manner by making sure they do business with companies who have committed to baseline rules for responsible data use.
That’s the right long-term bet that will pay out dividends and wins for everyone in the retail ecosystem.
Jules Polonetsky is executive director and co-chair of the Future of Privacy Forum, a Washington, D.C.-based think tank that seeks to advance responsible data practices. Founded five years ago, FPF is supported by more than 80 leading companies, as well as an advisory board of comprised of the country’s leading academics and advocates. FPF’s current projects focus on online data use, smart grid, mobile data, big data, apps and social media. More info at Futureofprivacy.org. Contact Polonetsky at [email protected].