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Boxwood reveal innovations set to make impact in 2014

Jan 24
 
Tags: Boxwood
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Boxwood reveal innovations set to make impact in...

Boxwood, an award winning management consultancy, revealed the most exciting developments on the New York shopping scene.

According to the firm, the two retailers making the biggest impact were MakerBot and Warby Parker.

MakerBot is owned by a 3D printer manufacturer and offers consumers the chance to purchase and experience cutting edge technology while in store.

Paul Martin, managing director of Boxwood Insights, said: “While the current MakerBot retail experience is relatively gimmicky their offering has the potential to revolutionise the retail supply chain, and this is reflected in the current market value of the company. 

“Valued at over $400 million (£241 million) based on a forecasted revenue of $75 million this year alone, coupled with a 21 per cent market share this is the level of growth and valuation not seen since the dot com bubble.”

Boxwood feels Makerbot has the potential to spearhead the deployment of technology for specialist parts in the medical, automotive, aerospace and general manufacturing industries. 

Mr Martin said the company has the ability to generate a specific part on the spot, which vastly reduces the need for a global supply chain. He added that the world is on the cusp of understanding how this technology will revolutionise retailing.

Such innovation has never before been found on the high street and it is creating a new way of working for industry and manufacturing, according to the managing director.

Warby Parker is rewriting the rule book on eyewear merchandising and is rumoured to be considering expanding its business into the UK market, according to Boxwood.

The company used to be a pure online retailer, but now offers a complete customer experience. People can try on eyewear and automatically upload photos to social media sites while still in store, allowing them to garner their friends’ opinions of their new look.

Warby Parker has created a vertically integrated lifestyle brand. Its stores only sell own-branded products in high end retail spaces. Mr Martin said the company had successfully navigated the transition from a pure play online offering to a bricks and mortar customer experience. 

He added: “Taking the optical market by storm and creating a lifestyle brand coupled with cutting edge technology to enhance the retailing event. Rumoured to be entering the European market this year, this is definitely one to watch.”

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