#mitxecs - game-changing retail technology
TRANSCRIPT
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
Romney Evans@truefitCo-FounderTrue Fit Corporation
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
Jet MITX 2015 E-Commerce Summit
In just 10 years, ecommerce sales are on track to
increase nearly 4x
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$544B 2019E
$306B 2014
$145B 2009
December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
The market is chasing speed, services and
specialty assortment…
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December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
…despite the fact that people still care very much
about price
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December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
$544B 2019E
80 million warehouse
club members in US
Meet JetThe price club reinvented
Huge opportunity to innovate on price 9
Brick-
and-
Mortar (founded 1962) (founded 1983)
Online
(launched 1994)
21 years
Price Innovation
Retail Reinvented
Price Club Reinvented
21 years
Price Innovation
(launches 2015)
Warehouse
Clubs
Warehouse clubs pull costs out of a brick and mortar
retail system…
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BulkPackaging
Long LinesNo Bags
Shop in Warehouse
Limited Product Assortment
Limited Payment Options
Lower Real Estate Costs
…while Jet tackles inefficiencies in online retail to deliver
savings across an unlimited selection
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Minimize shipping distances
Improve box utilization
Leverage retail marketplace
Unlimited product Assortment
Variablize hidden costs (returns/payment fees)
…with a variable pricing engine that empowers
retailers and consumers, not exploits
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Prepared for [Name of Company] Month 00, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
Retailer B
Optimize for basket size, mix and
location based on retailer rules
Consumer
Retailer D
Retailer A
Retailer C
Optional actions to save more
Provide your email for
bonus savings
Pick Up In Store
for bonus savings
Waive Returns for
bonus savings
All savings go back to members.
We only profit on the $49.99
membership fee.
A more transparent and efficient
ecommerce ecosystem for all.
Without sacrificing service or brand.
For more information on…
Becoming a member: www.jet.com
Becoming a retailer: [email protected]
Join our team: [email protected]
GAME-CHANGING RETAIL TECHNOLOGY
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.
Conversion Maximization with High Speed Visual Search
All have user friendly image capture capabilities
Technology-enabled shopping
Its easy with Visual Search
Visual vs. Textual
EASE OPTIONS
Visual Browsing is intuitive
IRIS is easy to use
OPTIONS
COLOR
PATTERN
FABRIC
✔
IRIS finds it fast
Fabric
Gingham%
Color
Navy'
Fabric
Gingham%
Pattern
Branford'
So[ 'Flannel'Horizontal'Stripe'
Oxford'Branford'SAME
Allyke is'so'easy'to'use''
selected'
Color
Pattern
Fabric '
OPTIONS'
OPTIONS
COLOR
PATTERN
FABRIC✔
IRIS finds it fast
Allyke finds'it'fast'Add to Cart and DONE
Why Visual Search
1. Find Exact and SimilarHigh Level of personalization
2. Blended SearchCommonalities from multiple images
3. Real Time ResultsExpedited results
IMPACTS
1. Fewer ClicksA true discovery process
2. Conversion RatesIncreased online revenue and….in-store
3. Shopper SatisfactionGreater Brand Affinity and Loyalty
About IRIS
Enables Faster more intuitive Path to Purchase using patented image recognition technology
• SaaS Model, Restful API• Filter by shape, color or
material• mobile and in-store use• Unique shoot2search
technology• Fewer clicks = greater
conversionMaximize Conversions with IRIS
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
Romney Evans@truefitCo-FounderTrue Fit Corporation
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.