Participants will investigate how virtual and physical environments can augment each other in the retail space. Visa Europe Collab is looking to build collaborations that have the potential to be continued into co-creation beyond the Pit Stop.

The world of retail is undergoing considerable change. High street shops are under competition from online retailers. At the same time, there is a realisation that consumers still perceive value in visiting physical stores, and there is a movement from some online retailers to create brick-and-mortar stores to reach out in new ways to their customers. The online shopping experience itself is often painful, particularly for new customers; there are plenty of pain points which need to be solved, including smoother checkout experiences.

 

Research shows us that consumers who are engaged with a retailer across multiple channels spend, on average, more than those who only interact with either the store or online. Many retailers have yet to leverage the wealth of data that they know about their customers from their behaviour online for improving their instore experience through personalisation.

 

Finally, shoppers are increasingly engaging through new channels opened up by innovations in mobile and sensor technology; these are enabling shopping to occur as an ambient activity rather than during specific time-and-space windows.

 

Digital Catapult and Visa Europe Collab are inviting startups, innovative retailers and experts to explore collaborative opportunities.

 

They are specifically interested in the following topics and technologies:

They are looking for companies with an understanding of the changing retail landscape, as well as for leading edge solutions in other areas that might present opportunities for cross industry innovation. We are also inviting industry experts and academic researchers in relevant areas to join the Pit Stop.

Over the course of the Pit Stop, participants will collaborate with Visa, experts and other innovators to identify new consumer behaviors, explore opportunities presented by emerging technologies and find solutions for potential problems. 

 

You will be involved in a productive exchange with industry leaders and innovators to develop a roadmap for the industry. Visa is looking to build collaborations in this workshop that have the potential to be continued into co-creation beyond the Pit Stop.

 

At the end of the Pit Stop, participants will be invited to submit project proposals. Visa Europe Collab is hoping to take a number of ideas developed during the Pit Stop into pilot stage.

Visa as a technology company and major consumer payment brand is excited to explore the topic of emerging retail journeys in this Pit Stop.

 

Visa Europe Collab is Visa’s innovation hub and works with new technologies to design the next generation of payments. Visa Europe Collab works with an international community of banks, retailers, startups and innovators to co-create new products and services for the financial industry and its customers. 

The closing date to submit your interest for this Pit Stop is 6 September 2016. The Pit Stop takes place on Thursday 6 October 2016 (6-9pm) and Friday 7 October 2016 (9am-5:30pm). To apply, please see the form below and our team will come back to you within 14 days of the call closing.