In today’s top retail news, Walmart could not make up any ground in the furniture and home furnishings category in the second quarter despite its new partnership with Gap, while Riskified says only one-third of consumers trust retailers’ ability to prevent fraud. Also, men looking for tailored suits now have a virtual fit option, and Kohl’s is expanding its use of augmented reality (AR) on its website.
Home Furnishings Remain Sore Spot for Walmart Despite Gap Collaboration
After losing its market share lead in the furniture and home furnishings category prior to the COVID-19 pandemic, Walmart has struggled to make up any ground against Amazon. After a momentary surge to over 17% share of the total furniture and home furnishings market in Q4, Amazon has settled back to just over 13%. Walmart, on the other hand, has remained just below 9% share of the furniture and home furnishings market for two quarters in a row.
Two-Thirds of Consumers Don’t Trust Retailers’ Ability to Prevent Fraud
The increase in eCommerce activity over the past 18 months is good news for merchants hoping to drive online sales, but it’s also raising the risk of fraud and raising consumers’ anxieties about how bad actors might compromise their personal data. According to research released by Riskified earlier this month, 1 in 5 U.S. consumers have been the victim of some form of online shopping fraud in the past year, with 71% saying the retailer could have done more to prevent the fraud.
Made-to-Measure Suits Join Growing List of Virtual Fit Experiences
IZOTTI, founded in 2017, is one of a growing number of brands and retailers utilizing technology to help consumers find the right fit. The company allows customers to upload photos of themselves to create a 3-D mannequin that tailors in Northern Italy and Portugal can use to make a suit. “Tailors typically don’t like to measure people — they like to actually cut the garments and kind of do the sewing,” founder Moti Biya explained. “So, we just automated that part and made it easy.”
Kohl’s Expands Augmented Reality Offering for eCommerce
AR technology provider Nextech AR Solutions Corp. has expanded its partnership with department store chain Kohl’s to include more AR capabilities within the eCommerce segment of the Wisconsin-based retailer’s business. Kohl’s and Nextech said they will “significantly” scale the technology to create thousands of new 3-D product models.