To simplify the task of online holiday shopping and introduce consumers to an innovative virtual experience, Mastercard, Next Retail Concepts, Microsoft and Fred Segal teamed up to create a next-gen concept for Refinery29's 29Rooms in Los Angeles. While the experiential event is launching in LA, shoppers are able to virtually explore the physical Fred Segal as if they were there in person. As the experience exists online, the limits of brick-and-mortar shopping are pushed, as users are able to browse the curated items in the store by search terms and categories.
Naturally, shoppers are able to securely and seamlessly pay for the desired items, which are exclusively available online. As an added incentive, those who pay with their Mastercard can sign up for a one-time loyalty reward by spending $200 or more on the collection.
Exclusive Virtual Shops
Fred Segal, Mastercard & Refinery29 Reinvented Online Holiday Shopping
Trend Themes
1. Virtual Shopping Experience - The rise of virtual shopping experiences is disrupting the traditional brick-and-mortar shopping model and creating opportunities for retailers to connect with customers online.
2. Experiential E-commerce - The creation of experiential e-commerce events is innovating the way consumers shop and interact with brands online.
3. Curated Online Collections - The curation of exclusive online collections is providing a unique shopping experience for consumers and opening up opportunities for retailers to showcase their products online.
Industry Implications
1. Retail Industry - The retail industry can leverage virtual shopping experiences to reach a wider audience and enhance the customer experience.
2. E-commerce Industry - The e-commerce industry can benefit from creating immersive and experiential online events that bridge the gap between online and offline retail experiences.
3. Payment Processing Industry - The payment processing industry can innovate and offer loyalty and reward programs to incentivize consumers to use their services while shopping online.