Who?
Stored is the brainchild of co-founders Danny Howe, former managing director of international payments business WorldFirst, and Lee Hart, former UK general manager at global FinTech giant Fiserv.
Why?
£4 in every £10 spent online is on Amazon, while digital natives are curating their own virtual wish lists by screenshotting items, saving products on social media, taking pictures in store, or copying links to items into notes apps on their phones. Many will have baskets saved across multiple retailers on numerous open tabs.
What?
Stored aims to offer retailers a lifeline by revolutionising how consumers discover and shop, creating a single view of the customer with the ability to see and track cross channel performance and attribution between physical and digital channels.
How?
Consumers can curate shopping baskets and wish lists containing online and offline items from any retailer in one place on their mobile and share them via social media and messaging platforms. The app will also track product prices and promotions and shortcut the path to purchase. In the future, Stored expects to add a closed loop payments ecosystem.
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Where?
Stored is based in London. The app will be available on iOS and Android from early December. It is currently in talks with several retailers to add products in store for showrooming shoppers via barcodes, QR codes and NFC tags.
They say:
Hart: “Conventional baskets aren’t aligned to how we shop today. They’re transactional by their nature and built only for purchase even though consideration and social sharing forms such a huge part of the shopping experience.”
Howe: “It’s also a massive, missed opportunity for retailers. By making it easier for consumers to buy or save products using their mobile in store and adding to that basket online too, we are giving retailers another opportunity to retain visibility of the consumer journey as they move offline and online and also potentially influence transactions with offers. With the average consumer only using four retail apps frequently, with Amazon being one of these apps, Stored can put the power back into the hands of the retailer by aggregating their collective pulling power and help overcome the barriers to adoption.”
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