According to a 2015 survey by Russel Reynolds Associates of executives, retail is the fourth likeliest industry to be moderately or massively disrupted in the next 12 months.[i]<\/a><\/p>\n Source: https:\/\/hbr.org\/2016\/03\/the-industries-that-are-being-disrupted-the-most-by-digital<\/em><\/p>\n Retail continues to be disrupted in many ways. In the simplest form, there is the disruption of traditional brick and mortar retail by e-commerce, and the proliferation of mobile devices and applications for shopping on-the-go. In fact, by the end of this year, it is predicted that 25% of all retail e-commerce sales will transact via mobile devices.[ii]<\/a> Even for those consumers who do chose to shop brick and mortar, technology is still there; stores have started using location-based technologies to \u201cprovide more personalized, real-time messages, offers and promotions.\u201d[iii]<\/a><\/p>\n Further along the spectrum of digital transformation within the industry you will find innovations such as \u201cfit technology,\u201d which leverages technology to help consumers find better-fitting clothing. The technology being implemented varies considerably, ranging from companies like Rent The Runway using community-sourced photos and reviews that include information about the user\u2019s size and body type, to companies such as Acustom Apparel that uses 3D body scanners.[iv]<\/a><\/p>\n Needless to say, this only scratches the surface of digital innovations hitting the retail industry by storm.<\/p>\n <\/p>\n TheTake<\/u><\/strong><\/p>\n Not only are technology advancements creating many opportunities for existing retailers, but they are also creating space for new retailers to emerge. One such retailer that is capitalizing on one such new technology is TheTake.<\/p>\n Founded in 2013, TheTake allows consumers can \u201cbuy almost anything they\u2019ve seen on screen in a feature film, or film trailer.\u201d[v]<\/a> The website is set up to look like a Pinterest board where shoppers can browse products that were worn, or even find vacation locations where these shows and movie were filmed. Users can filter based on the movie or show and fashion category, and are ultimately directed to the retailer\u2019s website to complete the purchase. Currently the tracking and coding of the featured items is a mix of manual work, audio recognition, and computer vision technology.[vi]<\/a> As of their launch in 2014, TheTake had approximately 100 movies in its catalog, but has actively been working on expanding this.<\/p>\n Source: https:\/\/thetake.com\/products?sId=30&sName=Keeping%20Up%20With%20The%20Kardashians&sImage=https%3A%2F%2Fimg.thetake.com%2Fshow_images%2F648573eddd04b5bae77e6e14a8a55b8b4764f765998d2774e3c62f2db93aaa6d.jpeg<\/a><\/em><\/p>\n <\/p>\n Now, you\u2019ll pay the price for keeping up with the Kardashians\u2019 fashion choices \u2013 the sunglasses that Kris Jenner was caught wearing in season 11 will cost you $1,082 to own. Thankfully, TheTake also offers suggested, similar products across different price points.[vii]<\/a><\/p>\n Source:\u00a0https:\/\/thetake.com\/product\/112453\/kris-jenner-linda-farrow-gold-round-metal-sunglasses-keeping-up-with-the-kardashians-season-11<\/a><\/em><\/p>\n <\/p>\n What\u2019s up next?<\/u><\/strong><\/p>\n As TheTake invests the time and money in building out their tagged movie database, the company becomes a ripe acquisition target for many major retailers \u2013 the Nordstrom\u2019s, Bloomingdales, and Saks\u2019 of the world \u2013 to enhance their in-store and online shopping experiences. If not through acquisition, how long will it be before these established retailers catch on and start offering their own \u201cShazam-like\u201d technology?[viii]<\/a><\/p>\n The other application I see for this visual recognition technology is for everyday fashion spotting. As a self-proclaimed shopaholic, I frequently see people out in public whose outfits I admire, but don\u2019t have the courage to ask them where they bought it. In a not so distant future, I hope to stealthily snap a picture of this stranger, upload it to TheTake v2.0, and within a few clicks be shopping that stranger\u2019s outfit for myself.<\/p>\n <\/p>\n Word count: 663<\/em><\/p>\n <\/p>\n [i]<\/a> 性视界 Business Review, \u201cThe Industries That Are Being Disrupted the Most by Digital,\u201d https:\/\/hbr.org\/2016\/03\/the-industries-that-are-being-disrupted-the-most-by-digital<\/a>, accessed November 2016.<\/p>\n [ii]<\/a> CIO, \u201c5 cutting-edge retail technology trends,\u201d http:\/\/www.cio.com\/article\/2989716\/retail\/5-cutting-edge-retail-technology-trends.html<\/a>, accessed November 2016.<\/p>\n [iii]<\/a> Ibid.<\/p>\n [iv]<\/a> Fashionista, \u201c8 Tech Startups Tackling Clothing Fit,\u201d http:\/\/fashionista.com\/2014\/07\/8-tech-startups-tackling-clothing-fit<\/a>, accessed\u00a0 November 2016.<\/p>\n [v]<\/a> TechCrunch, \u201cTheTake Just Raised $2M So You Can Buy That Thing You Saw In That Movie,\u201d https:\/\/techcrunch.com\/2014\/09\/08\/thetake-just-raised-2m-so-you-can-buy-that-thing-you-saw-in-that-movie\/<\/a>, accessed November 2016.<\/p>\n [vi]<\/a> Ibid.<\/p>\n [vii]<\/a> Wired, \u201cThis App Identifies the Movie You\u2019re Watching and Lets You Buy What You See,\u201d https:\/\/www.wired.com\/2014\/12\/thetake-app-mobile-shopping\/<\/a>, accessed November 2016.<\/p>\n![\"1\"](\"https:\/\/d3.harvard.edu\/platform-rctom\/wp-content\/uploads\/sites\/4\/2016\/11\/1-12-300x182.png\")
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