Toronto Start-Ups Help Bridge Online and In-Store Transactions

Sponsored: Within five years, an estimated 10% of all Canadian retail sales will be done online. Although Canadians were initially slow to adjust to the online retail realm, e-commerce now is playing an increasingly significant role for major retailers. Canadian retail disruptor changeRoom, along with tech innovator Nymi and MasterCard, might be the keys to further connecting online shoppers with physical retail.

At the Dx3 Conference on March 11 and 12, changeRoom technology will be on display at the Retail Collective. The Collective, curated by Doug Stephens, President of Retail Prophet and sponsored by MasterCard, brings together the newest retail applications that will allow consumers to cross the lines between virtual and physical shopping. MasterCard's payment technology connects customers to the retail experience in new ways that make the retail experience seamless for the shopper.

Dx3 is Canada’s largest conference and trade show dedicated to digital marketing, digital advertising and digital retail. It brings agencies, brands, publishers and retailers together for two days of networking and education. Now in its fourth year, Dx3 will deliver the companies, people and ideas that clearly communicate how Canadian digital business needs to move forward. The Dx3 Sessions will deliver the best companies and brands in the world - including  MEC, Airbnb, Etsy, Buzzfeed, Reddit, Indigo - all focused on how digital is redefining the customer journey from beginning to end.

Today's retail experts point to webrooming, an emerging retail trend combining online and in-store shopping, as an example of how the physical and online retail worlds collide. Webrooming allows customers to browse online, but visit a physical retail location to complete the transaction. Studies suggest that in 2015, between 54-71% of all physical retail sales will be driven through the act of webrooming.

"In many cases, online commerce is driving physical store foot traffic, but even more interesting are innovations that introduce bridges to help them complement each other," said Cory Rosenfield, changeRoom Co-founder. "With changeRoom, we help retailers convert customers while saving Canadians time and frustration by solving the webrooming trend that is changing the Canadian consumer landscape."

changeRoom is taking the process further by enabling customers to pre-select merchandise online from their favourite retailers for an appointment at the brick-and-mortar store. changeRoom customers then visit the physical location to try on, exchange and purchase, thus eliminating lines, saving time and enjoying a more satisfying retail experience.

Payment is made utilizing the Nymi band technology and MasterCard's secure payment network. The Nymi band uses the electric activity of the wearer's heart to authenticate their identity and confirm credit card information. MasterCard's MasterPass digital payment solution will be used in tandem with the Nymi band to provide a secure and seamless checkout experience.

"ChangeRoom participated in the MasterCard NEXT hackathon in 2014 and impressed us with their vision for a smartly connected retail shopping experience -- and our MasterPass digital payment solution is a natural fit with their application," said Jason Davies, Vice President, Emerging Payments, MasterCard. "Bringing the experience to life at the Retail Collective inside Dx3 will show people what the future of shopping looks like."

About Dx3 Canada:

Dx3 is Canada's largest conference and trade show focused on digital marketing, digital advertising and digital retailing. It brings agencies, brands, publishers and retailers together for two days of networking and education.

Dx3 2015 is March 11-12, 2015 at the Metro Toronto Convention Centre featuring more than 40 educational sessions, 100 exhibitors and 4,100 attendees from Canada's leading brands and agencies.

Today's Retail News From Around The Web: February 18, 2015