#mitxecs - game-changing retail technology
TRANSCRIPT
![Page 1: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/1.jpg)
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
Romney Evans@truefitCo-FounderTrue Fit Corporation
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.
![Page 2: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/2.jpg)
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
![Page 3: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/3.jpg)
![Page 4: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/4.jpg)
Jet MITX 2015 E-Commerce Summit
![Page 5: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/5.jpg)
In just 10 years, ecommerce sales are on track to
increase nearly 4x
5
$544B 2019E
$306B 2014
$145B 2009
December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
![Page 6: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/6.jpg)
The market is chasing speed, services and
specialty assortment…
6
December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
![Page 7: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/7.jpg)
…despite the fact that people still care very much
about price
7
December 15, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
$544B 2019E
80 million warehouse
club members in US
![Page 8: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/8.jpg)
Meet JetThe price club reinvented
![Page 9: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/9.jpg)
Huge opportunity to innovate on price 9
Brick-
and-
Mortar (founded 1962) (founded 1983)
Online
(launched 1994)
21 years
Price Innovation
Retail Reinvented
Price Club Reinvented
21 years
Price Innovation
(launches 2015)
![Page 10: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/10.jpg)
Warehouse
Clubs
Warehouse clubs pull costs out of a brick and mortar
retail system…
10
BulkPackaging
Long LinesNo Bags
Shop in Warehouse
Limited Product Assortment
Limited Payment Options
Lower Real Estate Costs
![Page 11: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/11.jpg)
…while Jet tackles inefficiencies in online retail to deliver
savings across an unlimited selection
11
Minimize shipping distances
Improve box utilization
Leverage retail marketplace
Unlimited product Assortment
Variablize hidden costs (returns/payment fees)
![Page 12: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/12.jpg)
…with a variable pricing engine that empowers
retailers and consumers, not exploits
12
Prepared for [Name of Company] Month 00, 2014 — Confidential & Proprietary. Jet™ is a trademark of Jet.com ©2014
Retailer B
Optimize for basket size, mix and
location based on retailer rules
Consumer
Retailer D
Retailer A
Retailer C
Optional actions to save more
Provide your email for
bonus savings
Pick Up In Store
for bonus savings
Waive Returns for
bonus savings
![Page 13: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/13.jpg)
All savings go back to members.
We only profit on the $49.99
membership fee.
![Page 14: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/14.jpg)
A more transparent and efficient
ecommerce ecosystem for all.
Without sacrificing service or brand.
![Page 15: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/15.jpg)
For more information on…
Becoming a member: www.jet.com
Becoming a retailer: [email protected]
Join our team: [email protected]
![Page 16: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/16.jpg)
![Page 17: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/17.jpg)
GAME-CHANGING RETAIL TECHNOLOGY
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.
![Page 18: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/18.jpg)
Conversion Maximization with High Speed Visual Search
![Page 19: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/19.jpg)
All have user friendly image capture capabilities
Technology-enabled shopping
![Page 20: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/20.jpg)
![Page 21: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/21.jpg)
Its easy with Visual Search
![Page 22: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/22.jpg)
Visual vs. Textual
![Page 23: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/23.jpg)
EASE OPTIONS
![Page 24: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/24.jpg)
Visual Browsing is intuitive
![Page 25: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/25.jpg)
IRIS is easy to use
![Page 26: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/26.jpg)
OPTIONS
COLOR
PATTERN
FABRIC
✔
IRIS finds it fast
![Page 27: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/27.jpg)
Fabric
Gingham%
Color
Navy'
Fabric
Gingham%
Pattern
Branford'
So[ 'Flannel'Horizontal'Stripe'
Oxford'Branford'SAME
Allyke is'so'easy'to'use''
selected'
Color
Pattern
Fabric '
OPTIONS'
OPTIONS
COLOR
PATTERN
FABRIC✔
IRIS finds it fast
![Page 28: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/28.jpg)
Allyke finds'it'fast'Add to Cart and DONE
![Page 29: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/29.jpg)
Why Visual Search
1. Find Exact and SimilarHigh Level of personalization
2. Blended SearchCommonalities from multiple images
3. Real Time ResultsExpedited results
![Page 30: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/30.jpg)
IMPACTS
1. Fewer ClicksA true discovery process
2. Conversion RatesIncreased online revenue and….in-store
3. Shopper SatisfactionGreater Brand Affinity and Loyalty
![Page 31: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/31.jpg)
About IRIS
Enables Faster more intuitive Path to Purchase using patented image recognition technology
• SaaS Model, Restful API• Filter by shape, color or
material• mobile and in-store use• Unique shoot2search
technology• Fewer clicks = greater
conversionMaximize Conversions with IRIS
![Page 33: #MITXECS - Game-Changing Retail Technology](https://reader030.vdocuments.us/reader030/viewer/2022032616/55a84eda1a28ab61708b48f6/html5/thumbnails/33.jpg)
Sumaiya Balbale@jetcominsiderVP of MarketingJet
GAME-CHANGING RETAIL TECHNOLOGY
Romney Evans@truefitCo-FounderTrue Fit Corporation
Amit Phansalkar@amitphanCo-FounderNetra Systems Inc.