EconomyFinancialThis clothing store in Guadalajara already allows you to...

This clothing store in Guadalajara already allows you to pay with cryptocurrencies. Is it the future of retail?

Entering a store to buy a piece of clothing and having your assistant be a device with Artificial Intelligence (AI) is already a reality, at least in the Tucané store, located in the Punto Sur shopping center in Guadalajara, Jalisco. The company, which was in charge of technology development and data processing, also accepts that customers pay for garments with cryptocurrencies.

The experience in this digitized retail, which is called the Museology Store , starts from the access to the store, where you can read a data protection notice. Upon arrival, consumers are greeted by a device where they must enter their name and email. Once inside, you must scan the QR code of the garments on display, of which there is only one sample, and select the size so that a person from the staff can take the garments to the fitting room. The purchase ticket is also digital and is sent to the consumers’ email.

This store, which opened its doors to the public at the beginning of May, has a conversion of sales of 15 percentage points more compared to the classic formats, which have a conversion of 30%, according to company data. In addition, purchases made with cryptocurrencies are between two and three times higher than a normal ticket.

But the experience does not end here. The device is also connected to Tucané’s fashion design team, who learn about visitors’ opinions on garments. For example, when you remove one from your cart on the device, they must answer what the reason is, this offers information about textures, models, or other aspects.

The store does not have all sizes of clothing on display, but it does have all models, which gives the opportunity to have smaller but more profitable spaces, says José Antonio Amutio, the creator of the premium casual clothing brand.

“With this information we begin to have consumption patterns at a personal level and that allows us to make purchase suggestions based on what each person likes,” says the general director of Tucané. “We can have all the information that the digital world allows us about the physical world, such as what our most sought-after or most desired products are,” he points out.

The Museology Store, which is inspired by the showrooms that are increasingly seen in shopping malls, has a sales floor of 40 square meters and a sustainable design. Amutio’s projection is to open 40 stores in the next two years under the same concept, which will have between 50 and 60 square meters, when its classic units are about 120 square meters.

“In a store with these characteristics, the initial investment is two or three times more expensive per square meter because it is equipped with all the latest technology. The strongest investment is in technological development that we pulverize with the number of stores, and without counting this, a Museology Store is twice as expensive as a common one, but they have a profitability greater than 16% because we take rents in half ”, he declares.

The brand also has a presence in department stores, such as Liverpool, where they compete with international brands such as Lacoste.

sports bet

Now, the store has 57 points of sale, with stores close to Mexico City, where it can consolidate its presence with a couple of stores. The plan of the brand, which has a presence in the sponsorship of sports such as polo, golf, motor racing and tennis, is to seek internationalization.

In addition to professional basketball, the brand recently closed a sponsorship with the Mariachis de Jalisco , the professional baseball team, and in whose stadium, Tucané opened a store.

These sponsorships have helped the company develop clothing collections, in addition to having stores in the stadiums, where the sales receipt is also higher compared to normal stores per day, due to the influx of sporting events.

One of the brand’s challenges has been to face piracy , and to achieve this it has turned the sellers of its imitation products into an outlet -type channel, which sells products from past seasons, which also helps Tucané reduce inventories of these items. “Part of what we have done is that we have approached them (piracy vendors) to sell the original product from past seasons and with this we have also found outlets,” he says.

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