For team SmartSix today was the most productive day so far. In the morning, we prepared for our first pitching and presented it. Being the first group to present, we did ok, but the suggestions and comments from the audience were very useful. We learned from the feedback that we should as always mainly focus on our value proposition, more particularly on our competitive advantage since we have many competitors for our business idea.
What makes our business idea unique and better than all the existing solutions is that we don’t burden the shopper with any kind of additional devices such as kinect, 3D body scanner, or multiple camera system. Our system works only on the end user’s web camera. Its fast and efficient since the algorithms we use give a robust solution. Through our virtually simulated fitting room, the shopper experience a realistic, fast and most importantly HIGH CONFIDENCE FITTING of the clothes he tries on through the plugin platform. Easy to use, realistic and immerse experience, and better fitting solutions give shoppers a relief from the many complains they encounter through the existing online shopping solutions. This in turn significantly reduces the high return rate of the retail shops, and their customers trust and rely on the online platform to purchase cloths from them. This strong value proposition is what today’s suggestions enabled us to focus on.
In the afternoon, we visited Nokia. Leo Kärkkäinen ( Member of Nokia CTO Technology Council and ex-workmate of Petri) quickly took us through its history. How it started, how it dominated 60% of the global sales, and how it dropped significantly to the current 4%. He also explained us what other directions and technology researches Nokia worked on after the fall of its mobile technology. In addition, he highlighted about focusing and diversifying cycles in innovation.
One of the cool things we saw in Nokia was the Psyduck created for young Pokémon trainers. Everyone was kinda existed about it, taking picture with it smiling!!!!
Overall, the day was full of energy, passion, team work and excitement about pushing forward our business idea. Now we are, more than anytime, clear about our business idea. And the more we know about it and the more we dig deep in to it, the more we fall in love with the idea and we can clearly see how it can transform online cloth shopping in to a new dimension.