What does it take to change the world – or, at least, the face of retail?
The annual CNBC “Disruptor 50” list is out for 2019 and looks at companies that are doing just that.
Four retail innovators made the 2019 list. Here are the disruptive retail businesses to watch out for:
1. Rent the Runway
Rent the Runway is a simple concept with a big impact: it allows shoppers to rent designer clothing for a limited time, rather than purchase it.
RTR has online eCommerce services and five bricks-and-mortar locations. In fact, in May it opened an 8,300 sq. ft. store, which features a pick-up station, where customers can pick up orders without having to wait in line. They have also launched drop-off locations in 20 WeWork locations.
In 2018, it introduced Platform, which curates capsule collections from 29 designer brands. In April, RTR announced they will start offering clothing for girls from sizes 3Y to 10/12Y.
Casper is an online mattress retailer – you can buy your bed off the Internet. Launched in 2014, Casper made $400 million in revenue in 2018.
But Casper earns its disruptor status with its unique fulfillment process. When you order from Casper, your queen-sized mattress arrives in a compact box. Casper offers a 100-day trial, free shipping, and free returns.
And here’s where it gets even more innovative – Casper has expanded into 20 retail stores across the U.S. and has plans for 200 more. And while in store, Casper encourages shoppers to test the product by scheduling a nap on one of their mattresses. Talk about customer experience!
According to CNBC, truck drivers collectively cover more than 93 billion highway miles each year in the U.S., but up to 40% of those trips are made with empty trailers. This is where Convoy comes in.
Convoy is an on-demand technology platform that allows trucking companies and shippers to connect via an app. This helps find shippers better rates and drivers earn more profit.
Fanatics is an online retailer for sports fans. Starting this year, they will also be the exclusive provider of all licensed sports merchandise on Walmart.com.
But what exactly makes them innovative? They use a sales system, known as “Cloud Commerce” to track every click, search, and purchase. It monitors social media and news sites for player information, which they then use for their marketing and products.
Other retail-adjacent innovators on the 2019 “Disruptors 50” list include:
- YIUT Technology
We can help your brand make your disruptive dreams a reality. Contact us today to learn more. Call 1-877-421-5081 or visit www.storesupport.ca.