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Farfetch unveils transatlantic 'Store of the Future'

Farfetch will unveil its vision to link the online and offline worlds in the Browns store in London and flagship Thom Browne store in New York later this year.

Farfetch will unveil its vision to link the online and offline worlds in the Browns store in London and flagship Thom Browne store in New York later this year.

The etail platform’s “Store of the Future” business unit aims to use data to enhance the retail experience, deliver personalisation for shoppers and allow store staff to become “in-store influencers”.

Farfetch founder, co-chairman and chief executive José Neves said it aims to give retailers visibility on what is actually happening in the store: “Physical retail accounts for 93% of sales today and, even with online growing at a fast speed, it will account for 80% by 2025,” he said.

“Retailers need a way to collect information about their customers while they are browsing in store, just as they collect data from online searches.”

The platform will tailor solutions to each brand, city and store via in-store tools, technology or services.

“It’s the ‘offline cookie’ that closes the loop between a great online presence and a complete omnichannel offering, and, finally, in-store technology, which augments the experience of customers in store and overall,” he added.

Farfetch began development of the Store of the Future in 2015, the same year it bought Browns in 2015.

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