Costs vs Benefits
- Digital inventory will replace physical stock. This results in better utilization of the shop space, increased sales, less spoilage due to multiple try-ons, less theft, and a more effective use of the sales team.
- Customer can do virtual trial of clothes not necessarily in the store alone. The mirror is connected to the retailer's inventory system and supply chain.
- Cross-selling opportunities are high. Better data analytics enables the retailer to discover the popularity of individual garments.
- Better demand forecasting: More accurate information on sizes helps to estimate the right amount of fabric required.
- The cost of stock movements will be reduced.
- Shops can be much smaller. The shop could potentially carry no stock, or carry just one of each size if they want to support try-ons.
