Technology Fueled by Wireless Power Will Trigger a Retail Resurgence
It’s no surprise that the “death” of America’s malls is still being reported, given the toll the past year has taken on brick-and-mortar shopping. Brick-and-mortar shopping was already facing big challenges, including increased competition from e-commerce, even before the pandemic brought on “retail carnage” and a rash of bankruptcies.
Some retailers are hopeful that the rollout of vaccines will trigger a substantial turnaround, making people feel free and even excited to do more shopping in person again. Earlier this year Ernie Herrman, CEO of TJX (which owns TJ Maxx and Marshalls), predicted “revenge shopping once vaccines are widely available.”
Some surveys also suggest an uptick is on the way. But even if people do feel some excitement to be out again, and feel that they’re taking “revenge” on the virus by shopping in person, that feeling is unlikely to last long. The convenience of shopping from home could mean e-commerce continues its climb.
But there’s a bigger phenomenon that could transform the in-person experience and draw people back in larger, lasting numbers. It’s one I’m in a unique position to see.
Wireless power sparks transformation
My company, Wi-Charge, has wireless power up-and-running now in certain U.S. shops, and we’re constantly hearing from retailers looking to make big moves into the space. So we know about new technologies that are on the way.
These changes will help create a new era for in-person shopping -- one that sounds futuristic but isn’t necessarily all that far off in the future. It’s an era that could make brick-and-mortar feel new, fun and filled with conveniences.
Take, for example, smart buggies. Some sites have begun using these in very early stages, giving customers the ability to skip the checkout line. But there’s a whole new generation coming. Picture shopping carts with built-in screens that suggest items based on things you’ve bought, and tell you step-by-step how to find them. (Want the perfect fresh vegetables to go with that pasta? Here’s a recipe I can send to your phone while I guide you to pick up all the ingredients.) These will also be able to offer you coupons and discounts. (Want great throw pillows to go with that blanket? Put two in your cart and I’ll give you this coupon for 20% off, which will be automatically subtracted from your bill.)
Smart shelves are on the way as well. These will bring digital advertising and marketing to the point of purchase. Again, a handful of shoppers have experienced early prototypes of this technology, with shelves that sense when an item is taken or offer a small-screen display. (To date, these have generally involved lots of wires that stores try to hide.) The next generation will interact with you individually -- showing, for example, why a belt would go perfectly with a pair of pants you’ve put in your cart.
Retailers are also looking further down the road to powering people’s devices while they shop. This will be helpful for developments like augmented reality. Imagine walking into a warehouse store to pick up everything you need for a home improvement project. Input into an app what you’re looking for, hold up your phone, and you’ll see giant arrows pointing exactly where to go -- as well as how many of each item is left, how much they cost, and comparable products that might save you money. Through this process, your phone is staying fully charged.
These are just a few of the myriad changes on the horizon.
Why wireless power is necessary
To give shoppers a clean, exciting experience, retailers want to avoid the eyesores of electric cords everywhere. They also rely on flexibility -- “planogramming” in retail language, to move things around in an effort to increase sales. Wires prohibit this.
Retailers don’t want to have to keep recharging products throughout the day by removing them to plug them into a wall somewhere out of sight. These steps would require additional personnel, additional space and a lack of available screens at any given time. So wireless over-the-air power -- with no charging pads involved -- enables what they’re looking for.
And while there has been excitement for over-the-air wireless charging for generations, only recently has it become a real option. For my team, it required creating something brand new, because we wanted the efficiency and major benefits of using infrared light technology.
For people who want wireless power at home, know that it is coming as well. We’ll actually begin with some smart locks in the United States later this year, and we expect things to grow from there, powering a wide range of products from security cameras to electric toothbrushes. But retail is where you’re likely to experience over-the-air power first. Commercial applications lead the way to consumer ones.
While these developments are not all going to happen overnight, there’s strong reason to believe that technologically advanced retail is coming, and will feel like a novel experience. It will be a draw. So the death of America’s malls may, in the end, have been exaggerated.
Ori Mor is co-founder of wireless power company Wi-Charge, which won its category at the Consumer Electronics Show and the Edison Awards.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.