Technology Assessment What technologies does your brand need? Research how other
Technology Assessment What technologies does your brand need? Research how other brands are leveraging tech to meet evolving consumer needs and business demands, but strive for innovation and novelty. Recommend 3 technological initiatives to the firms CEO that could be incorporated into their strategy, explaining their potential and impact. The brand has assigned, and three ideas have already been discussed. BRAND: lululemon Three ideas: 1.NFT Rewards Lululemon has a product called the Lululemon Mirror, a mirror that connects to a mobile app and offers different yoga classes and other workout programs based on the user’s needs. Depending on the level of online fitness and yoga classes completed in the app. We customize the NFT digital art with different numbering. Users can trade on the digital marketplace or keep as a collection. Not only does it increase the bond between the user and the brand, but it also encourages the user to complete their fitness program. 2.Generative Artificial Intelligence Shopping Assistant lululemon has a wide variety of product lines, and there are many product categories under each product line. For example, lululemon’s most popular yoga pants are divided into different products in terms of length, color, material, fit, and function. In addition, lululemon offers different designs for both men and women, taking into account various body types and preferences. Currently, lululemon online shopping allows customers to schedule a video call with an online human who can select products for the consumer. Now that the computing power of ai is getting more and more powerful, we think that AI shopping assistants could in the future completely replace the shopping advice that human beings currently video call consumers with. 3. Launch of digital goods for yoga pants To build a more robust and broader Lululemon ecosystem, in the case of the launch of a bonus nft about fitness classes, the launch of a line of digital goods about yoga pants. In reality, customers are more concerned with the practicality and functionality of the product, but in digital goods yoga pants can be designed to be more surreal. The service could be incorporated into lululemon’s now existing fitness app And this type of digital goods tend to have more collectible attributes than investment attributes
