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And the company operates its own stores as well, providing the same format for would-be physical retailers. The key to the concept is b8ta’s software, which includes checkout, inventory, point-of-sale, inventory management and staff scheduling services among its components — all disciplines that e-commerce companies have not had to deal with for the most part. Nearly every online retailer worth its Instagram page is looking into physical retailing as a way to reach new shoppers — and cut their customer-acquisition costs, which have been the Achilles heal for such businesses. Each no doubt has a Warby Parker poster on the walls of their office, pointing to the eyewear seller as the role model for how to move from online to in-store. Warby Parker aims to have 100 stores by the end of this year, and in public statements has said it now gets more than 50% of its sales from its stores as opposed to from its web business. Other wannabes from Casper in mattresses to Everlane in apparel to Boll & Branch in home textiles are going the same route: opening stores at healthy clips this year. Still others, like Bonobos — which famously once declared it would never consider having its own physical stores — have gone even further. It was purchased last year by Walmart’s Jet unit and is now being rolled up in that company’s online/in-store mash-up. The b8ta foundation focuses more on pop-ups and rent-a-retail-space as opposed to ongoing permanent shops, and by offering it all in one little neat package, it hopes to remove the anxiety associated with the physical store launch process.
For the original version including any supplementary images or video, visit https://www.forbes.com/sites/warrenshoulberg/2018/06/28/b8ta-finds-a-way-to-bring-online-to-in-store-and-macys-not-to-mention-investors-like-it/
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