Today, the “real” MemoryMirror* platform is revolutionizing the in-store shopping experience, while creating a bridge between the physical and digital worlds. It also is providing retailers with real-time analytics that can be used to refine customer experiences and increase sales.
About one thousand mirrors will be in stores worldwide by the end of 2018, and that number is expected to grow in 2019 as the per unit cost comes down. “We are working with Intel and our other partners to decrease the price of manufacturing in order to make our technology even more scalable,” says Salvador Nissi Vilcovsky, founder & CEO of MemoMi Labs, which developed the mirror.
Our technology uses distortion correction to create a convincing mirror experience that looks realistic from any distance or perspective.
“AI and virtual reality might not be taking over completely, but they are starting to emerge,” says Matthew Shaw, CEO of the National Retail Federation. “And we are at the point where consumer expectations are rising and influencing how retailers who want to stay on top must interact with their customers.”
The digital platform is providing customers with interactive experiences that drive both sales and satisfaction. “One of the first problems that we tried to solve is the problem that customers couldn't see themselves from every angle,” says Vilcovsky. “Our technology uses distortion correction to create a convincing mirror experience that looks realistic from any distance or perspective.”
The mirror enables a shopper to assess a 360-degree view of how, for instance, a pair of pants fit or different models of sunglasses
In fact, the MemoryMirror* also serves as a powerful customer relationship manager for stores. The mirror not only “remembers” an individual’s preference
MemoMi has more than 20 patents related to distortion correction technology. The mirror also performs real-time tasks such as facial recognition, taking body measurements and managing multiple cameras. This SaaS solution runs on mirrors equipped with
While the MemoryMirror* is an IoT-connected device, it also can run on its own. But when connected to the Cloud, the mirror opens a window of opportunity for retailers to better understand customer behavior and preferences.
For brands, we're actually solving a bigger problem than we are for customers.
MemoMi’s mirror is an example of how Intel® technology is being used to capture data-driven insights. “Artificial intelligence is going to be a foundational technology for the future of retail,” says Shailesh Chaudhry, director of business strategy for retail at Intel. “Knowing what customers are interested in, getting those products in front of them at the right time, and removing all friction from the sale requires a powerful mix of connected devices and analytics software.”
In addition to its impact on customer experiences, the digital mirror is a data gold mine. “For brands, we're actually solving a bigger problem than we are for customers,” says Vilcovsky. “The problem for stores has been they can’t tell what's happening in their stores. We're actually bringing to the table a new generation of in-store analytics, which enhances the relationship between brands and their customers.”
Store associates with access to a customer’s history, for instance, can offer product samples based on individual preferences or make recommendations that reflect a customer’s shopping history. One of the early adopters of MemoMi’s technology was Neiman Marcus. But now, the MemoryMirror* has been embraced by dozens of luxury retailers, such as Sephora, Tom Ford, L’Oréal Estee Lauder Group, and Finish Line. Next on the horizon, the company is working on smart home applications.
“The next step is deploying this technology for e-commerce in the home,” says Vilcovsky. “But nothing will replace the physical store experience, where you can touch and feel the materials. I think it will complement rather than replace that experience.”