b8ta is a new type of brick and mortar retail. Inventing a revenue model they call ”retail as service,” b8ta doesn’t rely on sales of a product to make money they get everything they need from the companies themselves. See, smell, touch and play with a product at b8ta and then buy it as you would online.
[Music] Bata is a network of stores that Showcase the high tech sometimes High-end electronic devices many of whom Are made by small companies that Typically wouldn’t have access to Physical retail when a customer walks Into a store all of the products are Boxed can touch everything you can try Everything play with it have the product Itself and then also the digital display Next to it and that digital display is Entirely controlled by the partner they Create all the content they can change It in real time that includes pricing if You’re a consumer you can walk up to a Product you can see it and you can also See how it works and what it does we Also have the beta testers in there who Are product experts and all the partners Have the opportunity to train the beta Testers themselves so they’re know all The ins and outs of each and every Product so from 2015 you had that you Had the one shop you had the one store In Palo Alto how many stores do you have Now we have 79 locations today we have 79 locations Yeah yeah you guys really just yeah we Did went into like hyperspeed the Opportunity is really big and then we’ve Got an opportunity to extend our model To the smaller format shopping shops That we’ve been putting in retailers
Like Lowe’s and Macy’s how many Macy’s And Lowe’s is bata and Lowe’s has about 2,000 stores and 170 of them Macy’s has I think 650 and we’re in one can you Talk a little bit about the business Model because bata doesn’t make money From products sold in the store it’s More so through these contracts with the Brands themselves so we invented Something called retail to service and We actually believe that this approaches To what’s going to save physical retail The reality is that you can’t have a Business model that is built around this The old model retail which required the Customer to buy just from you today when People go into stores the really in Research and learning mode and a lot of The purchases are happening Online at the Brants website or on Amazon or somewhere else what is 2018 Look like Korea 2018 we’ll be opening a Bunch more locations the next one is Actually going to be in Portland in Addition to that we’re adding a new type Of store concept I’m really excited to Tell you about at the right time [Music]
