THE DAILY SCOPE, 1/5/22: As we enter the second day of CES 2022, many of the major product announcements have subsided so now we are talking to some cool new startups from around the event focusing on different issues ranging from sustainability to consumer security. As we enter 2022, sustainability is at the forefront of consumer attention with a recent study from Simon-Kucher & Partners finding that 61 percent of US consumers regard sustainability as an important purchase criterion. To keep up with this ethical demand for sustainable products, retailers and brands of all sizes would do well to track the environmental impacts of the products they carry to help consumers make informed purchasing decisions. But, tracking the impact of products can seem like a daunting and expensive task for small and medium-sized businesses.
Enter Dayrize, an environmental impact assessment technology just unveiled at CES 2022 that uses geospatial mapping technology and computer algorithms to rapidly evaluate the environmental impact of any consumer product. The platform then aggregates information on sustainability factors such as circularity, climate impact, ecosystem impact, human impact, and purpose to generate a holistic score out of 100 that is easy for consumers to follow. After the scoring process, Dayrize creates a graphic icon that brands and retailers can display on their websites, which lists the water, land, CO2 impact and planetary savings of each product. At a price point of $60 per product on a yearly basis, this is a sustainability solution that is ideal for brands and independent retailers that aren’t looking to break the bank. Dayrize will help brands and retailers to attract more business from climate-conscious consumers and give brands and retailers the ability to measure their environmental impact. Currently, Dayrize claims to be the fastest-growing marketplace for sustainable products in the UK and will be expanding to the US market in 2022.
We are currently five days into 2022, which makes today a great opportunity to look into what strategies are poised to set brands ahead in 2022. These new frontiers for retail are anchored by an increasing demand for socially conscious consumerism that harnesses alternative methods of marketing through mediums such as the metaverse, and NFTs, which is being explored in depth this week at CES. Brand association for social and environmental causes is increasingly becoming a successful method of marketing as consumers like to associate brands with a deeper purpose. Think of Patagonia for example, which has done an amazing job of labeling itself as a company associated with the sustainability movement.
From the tech sphere, Ikea is another company that has employed this method of marketing with great success by offering renewable energy as a surcharge-free subscription service to households in Sweden. In order to keep up with an evolving consumer base, brands must become increasingly three-dimensional, since brands represent more than just the products they carry. As we have already reported, setting up worlds on metaverse platforms such as Roblox, which has 43.2 daily users, is an outside-the-box method for brands to expand their consumer bases.
Just today, the “NFT WTF?!?!” talk at CES 2022 included a discussion on how brands can capitalize on the current NFT explosion by commissioning successful or emerging artists to create pieces that highlight the essence of a brand or product. NFTs are being made for everything from sneakers to cyber trucks, and their rapid gain in popularity highlights an amazing branding opportunity.
In other show news, TROVA, a start-up focusing on storage solutions who we sat down with virtually at CES, just unleashed its latest biometric smart safe, TROVA Home. The largest model to be unveiled by the company, TROVA Home boasts interior dimensions of 13.7 inches by 6.2 inches and has a depth of 2.8 inches. This at-home safe can be bolted to the floor and is designed to keep items private and secure from children, or house visitors. The device is marketed towards people looking to store private items such as passports, jewelry, vapes, prescription and legal recreational drugs, or any discretionary personal belongings.
What makes the TROVA system unique is the locking mechanism can only be unlocked using Bluetooth or Wi-Fi connection via fingerprint or face ID verification on the TROVA app. The TROVA Home is also highly customizable in the app, where customers can add multiple users and tailor the device to unlock via a secret push button on the side. Users also receive real-time notifications in the app if someone tampers with or moves the device. The TROVA Home, which is made out of aluminum alloy, features two internal USB charging ports and a humidity sensor to help store products at the user’s desired moisture level.
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