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Retail's Future: Experiential Tech Stores Arrive
23 Dec
Summary
- New York City store tm:rw blends tech retail with immersive experiences.
- Stores use AI and analytics to track customer interaction with products.
- Tm:rw offers exclusive, high-end tech alongside everyday gadgets.
Physical retail stores are undergoing a significant transformation, with tm:rw, a new tech store in New York City, spearheading a unique approach. Unlike traditional large-format retailers, tm:rw focuses on creating an immersive, experiential environment that encourages customers to engage with its curated selection of tasteful technology.
The store is designed as a blend of a tech shop and an exhibit, offering bookable experiences like a robot massage or VR gaming. Merchandise is openly displayed for interaction, exemplified by an airplane seat display for trying out Xreal smart glasses. This "try-before-you-buy" philosophy is supported by studies showing increased purchase likelihood with longer customer interaction.
Tm:rw also leverages advanced AI, specifically Aurora by RetailNext, to analyze shopper behavior and foot traffic patterns, akin to online analytics. This data helps optimize product placement and store layout for discovery. The flagship store in Times Square, with products ranging from $10 to $300,000, is exploring expansion into other US cities and international markets.
