In the words of KPMG, the world is navigating a great digital transformation race. New data from IBM’s U.S. Retail Index forecasts that the pandemic has shifted traffic away from physical to online stores by roughly five years. Given these trends, one of the biggest challenges that retailers face is the ability to keep up with this pace of change.
For Pandora, the world’s top jewelry retailer, this challenge provided a powerful window for digital acceleration and business transformation.
While most jewelry retailers were scrambling to salvage their businesses following the fall-out from Q2 and Q3 COVID-19 retail lockdowns, Pandora’s digital team was already testing a series of technical features to help bolster engagement and revenue across their digital channels. By Sept 2020, the team was able to activate multiple digital solutions. Here’s a look into what they built:
The Virtual Try-On feature was fast & incredibly uncomplicated in its implementation across 10+ Pandora websites around the world.
Partnering with Tangiblee, an eCommerce SaaS company focused on digital product experiences, Pandora rolled out an augmented reality capability (Virtual Try-On) which does not require customers to download an app or use any additional technical equipment.
Pandora shoppers can ‘try-on’ a piece of jewelry (with scaled accuracy) by tapping the TRY IT ON button on each product page while browsing with their mobile device.
Mobile and desktop experiences include:
“We had to temporarily close most of our stores during the year, but we were able to recoup a large part of the lost sales through our online stores,” explained Peter A. Ruzicka, Chairman of the Board and Alexander Lacik, President and CEO in Pandora’s 2020 Earnings Report.
“Online sales increased 103% in 2020 compared to 2019 to make up 29% of revenue. In Q2, online sales surpassed physical retail for the first time ever, making up 52% of revenue in the quarter.”
Pandora also published a survey in its earnings report and found that 56% of consumers say that they will continue to buy online and pick up products in-store, after the pandemic — the digital experience investments made during the COVID-19 pandemic will continue to drive value for Pandora down the road.
Pandora is considering incorporating these Virtual Try-On capabilities across its brick and mortar stores in the Spring/Summer of 2021.
Tangiblee extracts existing product imagery & details from the product page and re-packages the content into an interactive on-page experience - at scale. The UX is custom-built for every retailer and supplies brand-curated content to every product UX.
Unlike other solutions, Tangiblee does not require 3D imagery or CAD files. That means, as a brand, you can build a fully operational AR experience without needing to revamp or enhance your existing library of product photography.
Tangiblee was able to create the entire experience without costly labor-intensive production processes or any complicated technical requirements. In addition, Tangiblee does not require any new product photos as the platform extracts the existing product imagery & data directly from a retailer’s product page.
Compatible with any retail platform – app or web-based - Tangiblee serves product catalog sizes of one hundred SKUs to hundreds of thousands of SKUs and requires zero technical upkeep or maintenance.
Pandora’s Virtual Try-On is part of a bigger picture strategy called “The Digital Hub,” which is an innovation-first digital team. The Digital Hub was a major factor in Pandora’s ability to retain relative financial stability in the face of one of the volatile retail years in modern history. Additional digital experiences include a virtual sales assistant and digital gifting.
Pandora hasn’t slowed down the development of digital capabilities and as a result, may come out of the COVID-19 pandemic in a better position than before.
“In 2021, Pandora expects to reach an important milestone: returning to top-line growth after three years of decline,” explains Pandora’s earnings report.
“In 2021, Pandora will accelerate the digital journey, in particular by building more capability in data science and engineering and by further leveraging data and advanced analytics to drive growth. Our continued focus on creating great digital experiences for our customers will move Pandora to a digital leadership position in the industry.”
This article references an article posted on Retail Dive.
Chicago, IL - May 3, 2023
Tangiblee, the world’s most scalable immersive shopping experience provider, unveils new client implementations and product features at the upcoming Shoptalk in Barcelona, May 9-11. Since its inception, Tangiblee has gained significant traction among global brands, including the addition of top names in European fashion, such as Lucardi (The Netherlands), MCMWorldwide (Germany), and F. Hinds (UK), to name just a few.
With the retail XR (Extended Reality) market in Europe expected to grow by 25.8% by 2028, clients are motivated by economic advantage plus Tangiblee’s key differentiators, including deployment speed and scalability. Those who have already launched their immersive experiences enjoy proven financial results. Rather than ethereal ideas and futuristic ideas of the metaverse, Tangiblee takes a practical view of AR and immersive technologies. This approach leads to improved e-commerce conversion rates and profit, as expressed by clients in their own words through the company’s case studies:
“When you see numbers like that, it’s a no brainer.”
Elles van Leeuwen, Lucardi’s e-commerce manager.
“For a specific item that used to have a 40% return rate, now we’re looking at a 20% return rate. Wow!”
Jordan Katz, VP, E-commerce, The Sak
"We saw a clear positive revenue impact from adding the Tangiblee tool."
Matt Kirton - Product Owner, Fashionette
At Shoptalk Europe, in addition to showcasing clients’ immersive experiences, Tangiblee will be offering an exclusive preview of its latest technologies, the result of years of R&D and currently unmatched in the industry: These include ring and earring collections, VTO Clip (Jewelry), new size comparison options including “What Fits Inside?” (Handbags), and Virtual Room Design (Home Decor).
“Even in the current volatile business climate, we see a strong demand for our immersive shopping and virtual try-on solutions,” says Eliad Inbar, Tangiblee CEO. “This is a testament to our approach, which focuses on usability and business results over bells and whistles.”
To help retailers boost revenue, Tangiblee offers new integration options for e-commerce sites, such as “Embed” and “PLP Filtering”. “Embed” provides more flexible options for enterprise retailers to incorporate Tangiblee’s immersive experiences, reducing the number of clicks to purchase. “PLP filtering” integrates with existing e-commerce site capabilities including recommendation engines.
To learn more about how Tangiblee can help drive increased online revenue and reduce returns, visit Tangiblee.com or Request a Demo.
About Tangiblee
Tangiblee is an enterprise-ready, immersive shopping and augmented reality (AR) e-commerce platform. The world’s largest brands are working with Tangiblee to deliver highly interactive online experiences in days, not months or years. An alumnus of the Techstars 2014 class, Tangiblee is revolutionizing the online buying experience for some of the world’s top retailers including Fossil, Home24, MCM Worldwide, Lucardi and more. Tangiblee’s interactive eCommerce solutions — including Virtual Try-On (VTO), Contextual Shopping, and Lifestyle Content — dramatically improve the bottom line for retailers, increasing conversions and average order value and reducing returns.
This article references an article posted on Retail Dive.
Chicago, IL - March 22, 2023
Tangiblee, the world’s most scalable immersive shopping experience provider, showcases its next generation of Virtual Try-On (VTO) and AR technology at Shoptalk US (March 26-29). Tangiblee launched its first immersive shopping solution back in 2014, so it’s already a veteran in the AR-powered e-commerce space. Nearly a decade later, the company continues to innovate and deliver proven financial results to hundreds of well-known brands and retailers (including Citizen, Lucardi, Victorinox, and Home24, to name a few).
While new entrants begin to emerge on the AR scene, Tangiblee has already expanded its popular platform capabilities and delivered consistent results for retailers year-over-year. At Shoptalk next week, the company will be offering an exclusive preview of its latest features, the result of years of R&D and currently unmatched in the industry: These include ring and earring collections, VTO Clip (Jewelry), new size comparison options including “What Fits Inside?” (Handbags), and Virtual Room Design (Home Decor).
In addition to technology enhancements across categories, the company will unveil flexible new integration options for retailer e-commerce sites, such as “Embed” and “PLP Filtering” — both designed to further boost conversions and profitability. “Embed” provides more flexible options for enterprise retailers to incorporate Tangiblee’s immersive experiences, reducing the number of clicks to purchase. “PLP filtering” integrates with existing e-commerce site capabilities including recommendation engines. Every platform enhancement offers the same scalability Tangiblee is known for — the ability to process and onboard a volume of more than 5,000 new SKUs a day.
“Even in the current volatile business climate, we see a strong demand for our immersive shopping and virtual try-on solutions,” says Eliad Inbar, Tangiblee CEO. “We now serve 4 out of 5 of the world’s top luxury jewelry retailers. This is a testament to our approach, which focuses on usability and business results over bells and whistles.”
Tangiblee’s retail clients enjoy a recession-proof option for increasing revenue while decreasing the Total Cost of Ownership (TCO). The company’s easy-to-deploy, no-code solution has helped many retailers deliver immersive online shopping experiences at a fraction of the cost and time of any other solutions providers.
To learn more about how Tangiblee can help drive increased online revenue and reduce returns, visit Tangiblee.com or Request a Demo.
About Tangiblee
Tangiblee is an enterprise-ready, immersive shopping and augmented reality (AR) e-commerce platform. The world’s largest brands are working with Tangiblee to deliver highly interactive online experiences in days, not months or years. An alumnus of the Techstars 2014 class, Tangiblee is revolutionizing the online buying experience for some of the world’s top retailers including Fossil, Home24, MCM Worldwide, Lucardi and more. Tangiblee’s interactive eCommerce solutions — including Virtual Try-On (VTO), Contextual Shopping, and Lifestyle Content — dramatically improve the bottom line for retailers, increasing conversions and average order value and reducing returns.