The Iconic is set to delve deeper into web3, following its first NFT release and metaverse runway show Runway X this season.
Speaking with Ragtrader, CEO Erica Berchtold said The Iconic is finetuning ideas such as token-based loyalty programs, metaversal search tools for shoppers and a presence in some virtual worlds. The online retailer also wants to understand the web3/blockchain in the context of sustainability.
"While there is no set timeline for The Iconic to launch into the metaverse, we are definitely exploring a number of metaversal tools to enhance our customer shopper experience," Berchtold said. "We believe that the blockchain, metaverse, artificial intelligence, augmented reality and virtual reality are set to transform customer loyalty and the way Australians shop in the future, which is why we're leaning in to see what web3 might mean for The Iconic.
“We want to keep building on our legacy by developing a web3 roadmap for years to come, and it started with Runway X.
“There’s plenty to do within our existing business, so it’s all about balance to ensure we’re maintaining current business objectives while fuelling our curiosity for innovation and developing a broader strategic plan.”
Held at ‘The Venue’ in Sydney, Runway X featured models interacting with giant metamirrors which reflected their virtual avatars in real-time. The show also coincided with the release of The Iconic's first NFT, sold via auction on its NFT website.
Runway X followed a number of new technology releases from The Iconic, including a 360 degree AR sneaker feature and a 'Snap To Shop' search function allowing customers to upload images and shop similar products.
At the back end of the business, The Iconic introduced Autonomous Mobile Robots to its fulfilment centre for faster processing this year. Berchtold said the move will enable the brand to secure storage, protect skus and ensure optimal order delivery time.
“The Iconic constantly invests and experiments with technologies that will help create seamless and inspiring experiences for our customers,” Berchtold said. “We have a very young, innovative, curious team and they are always looking at new initiatives, so we’ll continue to add to what we already do and improve what we’ve already got.”
As a digitally native company, Berchtold said The Iconic's launch into web3 is an exciting milestone for the company which launched 11 years ago.
“We have been working for a while now to understand the context of blockchain, crypto and web3 more broadly, and while we’re very much at the beginning of our journey, we want to be the retailer that helps educate customers about the third evolution of the internet from the get-go,” she said.