SOUTHEAST ASIA E-COMMERCE MARKET
Southeast Asia’s market has a huge potential because of its size and growth trajectory. With its large population of over 600 million, 60% of whom are below 35 years old, and fast-growing internet and smartphone usage, its e-commerce market is expected to worth USD 21.8 billion, thus presents many business opportunities.
Despite the rise of e-commerce, physical stores are still preferred over online shopping. The main reasons are the shipping fees, the customers’ preference to have the items immediately, and that they cannot try the items on before buying online.
HOW CAN BODY SCANNING TECH HELP RETAILERS?
Usually, up to half of the items would be returned to the sellers because of the size being an annoyance to both customers and retailers. Returning items can cost the retailers millions of dollars in extra shipping and warehouse fees.
One solution to this problem is 3D body scanning, which can take precise body measurements such as waist, hips and thighs circumferences, weight, height, and create a visual avatar for the customer to match the size and even try on clothes virtually. He/she can then use the avatar to find a perfect fit and shop on any of the online retail sites that partner with the 3D scanning company.
This innovation can thus help customers know how the clothes would look on them, whether they are in the physical stores or at home, shop more efficiently without having to queue, and to get the right sizes when ordering online.
This solution is offered by several companies like Styku, which creates 3D avatars using the sensors developed by Microsoft for its Kinect platform. Since there are more than 20 million Kinects sold today, it is a great way for people to do their own 3D scanning at home. Virtusize, another company, affirms that they would reduce fit-related returns byup to 50% using its virtual fitting solution.
This technology is already used by several retailers, such as Adidas with its “Next Generation Fashion Store” concept, for which they won the CeBIT Innovation Award 2013. Nick Robertson, the co-founder of ASOS (which partnered with Virtusize)affirmed that a 1% drop in returns can translate into $16 million added to the company’s bottom line.
BEYOND THE APPAREL INDUSTRY
Besides being used for size-fitting or made-to-measure, body scanning technology can be used by airlines and automobiles to develop optimized seats, by health clubs to leverage body measurements, calculate body fat percentage to suggest suitable health and fitness solutions. Most importantly, it can be used in medical weight loss to tackle obesity, which is associated with increased risks of cardiovascular diseases, diabetes, cancer, etc. Surgeons and weight-loss professionals will be able to use this solution to track progress using precise and accurate measurements.
3D body scanning technology lowers costs, increases efficiency, and has much potential to help improve the future growth of not only the clothing industry, but also the healthcare industry, among future yet-to-be-discovered applications.
If you're interested in IoT/M2M developments in Southeast Asia, do drop us a note with your thoughts. We are currently in the planning stages of our 2016 events to be held in Indonesia (15 - 16 Aug 2016) & Malaysia (18 - 19 Aug 2016). Visit www.iotbusiness-platform.com for more information.