Mastercard and Next Retail Concepts Upgrade Online Shopping Just in Time for the Holidays
December 03 2018 - 8:00AM
Business Wire
Consumers can now shop for exclusive products
from Fred Segal using proprietary technology from Next Retail
Concepts
The days of mindlessly scrolling through pages of products while
shopping online are over thanks to a new ecommerce experience from
Mastercard and Next Retail Concepts. The innovative digital
environment lets shoppers browse and buy just like they are in a
physical store—across any browser.
Consumers will find this new, immersive way to shop very
different than the ecommerce experience they are used to. A shopper
can virtually navigate through a three-dimensional store, interact
with their favorite brands, and engage with digital content curated
by the retailer. Purchases are frictionless, secure and occur in
the same environment, as the technology integrates seamlessly with
a merchant’s existing ecommerce platform.
“At Mastercard, we’re using our products and services to create
solutions for retailers that allow them to meet the ever-growing
expectations for a frictionless, customized experience, across any
channel or connected device,” said Sherri Haymond, executive vice
president, Digital Partnerships, Mastercard. “Together with
partners like Next Retail Concepts, we are evolving ecommerce to
bring the physical store to life in an immersive, digital
environment, all while enabling exclusive offers and seamless
payment.”
Mastercard and Next Retail Concepts are launching the platform
with premium retail brand, Fred Segal,
and will premiere the experience at 29Rooms in Los Angeles,
Refinery29’s groundbreaking experiential event. Together with
Refinery29, the companies curated an exclusive collection of
holiday gifts shoppable only online. At the point of purchase,
shoppers paying with their Mastercard can sign up for a one-time
loyalty reward to receive a $30 statement credit when they spend
$200 or more on the collection.
“Our proprietary technology transforms the traditional
ecommerce landscape within our innovative platform to create
exciting and engaging immersive shoppable experiences that
tell a brand story. This is a dynamic new way to shop,”
commented Neil Cole, CEO & Founder, Next Retail Concepts.
“Mastercard, Fred Segal and Refinery 29 have been wonderful
partners who share Next Retail’s vision of a more enriching
e-commerce experience."
The virtual experience not only shifts online shopping from
transactional to experiential, but also provides access to tools
and insights to further engage shoppers. Retailers who leverage the
technology also have the ability to provide customized offers as
well as gain analytics on overall store performance.
“Fred Segal has always been at the forefront of experiential
retail. From our inception, our curated offerings made the store a
must-shop destination in Los Angeles,” said John Frierson,
President of Fred Segal. “Having an online presence is of course is
an essential part of business, however at Fred Segal we rarely do
things the traditional way. We’re thrilled to be the first major
retailer to create a truly experiential online shopping
destination. In partnership with Mastercard and Next Retail
Concepts, we will bring our iconic West Hollywood Flagship to life
in this new, experiential manner.”
At 29Rooms, attendees will get to try the immersive commerce
experience as it comes to life in an experiential pop-up at The
Reef, December 5-9. As the official payment and technology partner
of 29Rooms, Mastercard not only will bring the latest ways to shop
and pay to the activation, but also give cardholders the
opportunity to experience 29Rooms with exclusive benefits. Some of
the special perks include pre- and post-sale tickets, the chance to
skip the line of one room of their choice with special “Room Keys,”
a 10 percent discount in the merch store, and other Priceless
experiences.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. Our global
payments processing network connects consumers, financial
institutions, merchants, governments and businesses in more than
210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on
Twitter @MastercardNews, join the discussion on
the Beyond the Transaction
Blog and subscribe for the latest news on
the Engagement Bureau.
About Fred Segal®
Fred Segal opened its eponymous doors in 1961, debuting designer
denim as a lifestyle concept that instantly secured the brand as an
integral part of the Los Angeles scene and celebrity culture. A
unique retailer that specializes in the free-spirited mixology of
Southern California laid-back luxe, Fred Segal has discovered and
launched some of the most beloved fashion and lifestyle brands
throughout the decades. Today, Fred Segal, which is owned by
Evolution Media, offers a curated and refreshing selection of new
brands together with food and pop culture experiences. In addition
to its flagship location in West Hollywood, CA the brand has
expanded to Los Angeles International Airport’s International
Terminal, Japan (Kobe & Daikanyama), and in the fall of 2018,
opened stores in Europe & Asia in Taipei, Kuala Lumpur, and
Switzerland. Discover more at FredSegal.com and on Instagram
@FredSegal.
About Next Retail Concepts
Next Retail Concepts is the leader in immersive e-commerce
innovations that bring brands to life. Next Retail’s patent-pending
technology powers a unique platform that enables partners to create
fully-immersive shopping environments that seamlessly integrate
with their e-commerce platforms and allow customers to purchase
products wholly within a branded environment. Next Retail’s
exciting new technologies will transform the retail landscape by
combining the best of brick and mortar and e-commerce into one
frictionless experience.
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version on businesswire.com: https://www.businesswire.com/news/home/20181203005349/en/
Mastercard Communications Contact:Robyn
Cottellirobyn.cottelli@mastercard.comNext Retail Concepts
Contact:Maria Dolgettamaria@creativeplayground.comFred Segal
Contact:Farial Awanfawan@hlgrp.com
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