Oak Labs, Inc. Analytics 50 Submission
Oak Labs, Inc.
San Francisco, CA
Industry: Technology / Software
Oak Labs works to redefine the way both retailers and shoppers think about the physical retail store. As consumers become increasingly savvy and their expectations of constant connectivity continue to accelerate, one can look at the physical retail space and be astounded at how little has changed in the last 100 years. Retailers continue to look to their online properties as the key to customer insight, and have yet, to date, truly understand and capture the analytical potential of brick-and-mortar stores.
The first challenge Oak Labs has tackled as a company starts in the fitting room. The Oak Mirror has been developed to create incredible customer experiences, expedite in-store operations and provide unprecedented data to its retail partners. Knowing that the fitting room was previously a black box for retailers, Oak Labs is now able to collect a quantity and scope of data about customers, merchandise and store associates that have never existed before.
The Oak Mirror is a hybrid mirror and touchscreen that allows shoppers to change lighting, request additional colors and sizes in a particular garment, or “Complete the Look” with a variety of accessories and additional articles of clothing—all without leaving the changing room.
In addition to creating transformative user experiences, the Oak Mirror uses RFID to detect merchandise brought into the fitting rooms. This allows Oak Labs to share real time data and intelligence to retail partners, enabling them to make more informed decisions around store operations, staffing, training, product merchandising and so much more to optimize conversion and sales.
Oak Labs’ first launch partner was Polo Ralph Lauren. In its U.S. pilot, Oak Labs found that 84% of shoppers engaged with the technology. Additionally, shoppers who deeply engaged with the Oak Mirror spent 59% more than those who did not.