For decades, brands have paid retailers to set up a display in the retailers' stores. Ralph Lauren's Polo, Nautica, Jimmy Choo, and other leading brands have paid department stores to set up displays and manage their brand appearance. This helps the brand and the stores increase sales.
As we all know, retail has gone digital. Thirty percent of retail sales are now online. What if there was a way for brands to sponsor displays like these physical ones but do so online? There is: our Smart Products service allows brands to set up digital displays on a store's website. The brand manages the images and product assortment. The store is responsible for handling the sale and delivering the goods.
More than one hundred brands use our digital display technology, including Versace, Vera Wang, and Juliska. They manage their brand on 730 stores across the United States, Canada, and the Caribbean. Bridge brought to indie stores' websites what Bloomingdales used to offer on its store floor. We're allowing brands to operate 'mini-stores' within the retailers' sites.
The Smart Products service is a win for the store and the brand. Brands receive PR, branding, and sell more. Retailers report selling 18% more of a brand that uses this display technology. And, retailers save time and money because they don't have to manage the product or the display.
Just like in the physical world business model, the brands pay for the service. But our service is much more powerful and affordable. In the 'old world' model, the brand made many displays and shipped them to many stores. With Bridge's Smart Products service, the brand loads the images once, and they appear on all the retailers' Bridge Stores. These displays also appear on the brands' sales reps accounts and trade shows' Bridge accounts. For example, Versace loads its display materials to Bridge, and they appear on the trade show building 41 Madison's account.
In the example shown, we see the gift shop Babcock Gifts with Versace's Smart Products. Versace controls 1,002 images and products via the service. It changes a product once, and that change takes effect in real-time on all stores' websites. Customers can buy the products or add them to a gift registry. Babcock is responsible for the sale and fulfillment of the goods.
In terms of cost, the brand pays $9 per digital storefront per year. The brand can open a mini-store front on a retailer's website for the cost of a print catalog.
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