i3 - March/April 2019 - 46

Business

By Steve Smith

R E TA I L ST R AT EG I E S

Profitable New Categories
Set for Retail Rollout

its proprietary TrueSteam device, which
"eliminates over 99.9 percent of the germs
and bacteria found in clothing and is certified as asthma and allergy friendly by
the Asthma and Allergy Foundation of
America (AAFA)." If Styler is successful -
meaning other brands enter the market
pportunities abound for independent retailers when it
with different price points - for many
comes to technology-related products this year.
families, frequent trips to the local dry
Independents are well-positioned to sell new categories
cleaner may be a thing of the past.
now and in the future. Anyone who attended CES 2019 saw and
Samsung unveiled the next generation
experienced plenty of new technologies that will change their
of its Family Hub refrigerator, even as
businesses and their lives.
the concept for using this traditional
appliance as part of what it calls "connected living" is still a relatively new
idea. This year's Family Hub refrigerator
features the Family Board, "a communal
screen that family members can interact
with in a personalized way," as Samsung
describes it. This
year's Family Hub
features Samsung's
Samsung unveiled Bixby with AI capathe next generation bilities featuring voice
of its Family Hub
ID technology, which
refrigerator, even as now handles food
the concept for using management, family
and
this traditional appli- communication
entertainment. Users
ance as part of what it also can call an Uber,
calls "connected
get plane tickets via
retail during the
The rollout of 5G, 8K, AI and VR are
living" is still a
Expedia and pre-set
year. One of the
providing new, more profitable prodproducts represents
ucts for retailers to sell, especially
relatively new idea. the oven temperature
by talking to the
a new category and
independent retailers. Independents
Family Hub.
are in a unique position to not only sell the other takes that
And as the High-Tech Retail
old standby, the home refrigerator, and
products, but explain them in-store
Marketplace and Summit at CES inditakes it to the next level. Both are innoand - just as importantly - via their
cated, retailers will not only be selling
vative enough they have the potential to
online presence and social media.
products with AR and VR, they will
become popular and profitable for the
Many products that are being introuse these technologies to educate,
suppliers and retailers.
duced are in local or regional indepenmarket and sell consumers these new
dents' familiar comfort zone of home
crossover products.
technology, even though they blur the
Innovative Models
These new home technology products
line between electronics and appliances.
LG Electronics' Styler Black Tinted
are examples of devices that must be
Since they know their customers and
Mirror Glass Door - a smart, high-tech
explained in-store or online to set conknow how to sell and merchandise for
wardrobe - can be considered a "disrupsumer expectations. Many will use 5G,
the home so well, these dealers are in a
tive technology" that, if it becomes popu8K, AI and VR - alone or more likely in
sweet spot to sell them profitably.
lar, will impact the dry-cleaning industry.
Two products made an impression on
As LG puts it, the Styler has "the ability to some combination - by retailers in the
years ahead. Merchandised and distribme during this year's CES that can effec- keep clothes hygienically clean and lookuted wisely, profits should flow.
tively be sold by independent electroning their very best." The unit "refreshes"
ics/appliance retailers nationwide. But
up to four garments "including a pair of
there are hundreds that debuted at the
pants in the door" simultaneously. Styler
Steve Smith was the former editor-in-chief
show which will make a major impact at uses LG's SmartThinQ AI technology and of TWICE.
46

MARCH/APRIL 2019

I T I S I N N O VAT I O N

David Paul Morris/Bloomberg via Getty Images

i3 - March/April 2019

Table of Contents for the Digital Edition of i3 - March/April 2019