Business Technology: O2O Shopping Experience, Space Economy

2023.06.29

Commercial and economic activities are an essential part of our daily lives, and the rapid advancement of technology and increasing social awareness have become catalysts for thriving development. Businesses are exploring ways to provide better service experiences internally and seeking new emerging markets externally. These evolving trends continuously reshape the business models in the economic landscape, bringing endless possibilities for the future market.

O2O Shopping Experience

With the fast-paced modern lifestyle, people are increasingly inclined towards online shopping from the comfort of their homes, where they can browse through thousands of products with just a few clicks. As augmented reality (AR) technology matures, consumers can now enjoy immersive shopping experiences right at home using their smartphones or AR-enabled devices. Conversely, physical stores can also create augmented reality experiences through in-store devices or customer smartphones, offering enhanced sensory journeys in the real-world environment. The integration of virtual and physical shopping experiences not only brings consumers closer to reality but also provides novel and enriching sensory experiences that go beyond the limits of the physical world. Additionally, the emergence of cryptocurrencies presents a potential solution for the financial market. Apart from their high degree of anonymity, cryptocurrencies reduce the costs associated with third-party intermediaries in online transactions, thus becoming a significant driver for the emergence of new economic models.

Wanna, a virtual try-on platform, has introduced virtual fitting for Lamoda shoes, with over 4 million monthly users experiencing it.

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Wanna is a company that offers virtual try-on solutions for shoes. Their technology is based on capturing measurement data and 3D modeling, utilizing machine learning and AI techniques to provide consumers with a virtual try-on experience. Users can simply select their preferred shoe styles on the website and use their mobile phone camera to scan their feet. They can then see themselves wearing the chosen shoes on the screen. This technology addresses the challenges in the online shopping process for the fashion industry, helping consumers better understand their size and the appearance of the shoes. It provides an immersive and personalized shopping experience, reducing the risk of returns in online shopping. Additionally, this technology also addresses the concerns of individuals who lack confidence when shopping in physical stores.

The Era of Space Economy Arrives

Despite the slowdown of the space race after the Cold War, the advancement and accessibility of aerospace technology have brought about a resurgence in the global competition for space economy. The exploration of space in the past has spurred the development of communication and weather satellites. Space economy encompasses various sectors, including space tourism, space resource exploitation, and space infrastructure construction. It contributes to a better understanding of outer space, drives technological innovation, and ultimately improves the everyday environment for people. However, the development of the space economy also raises concerns, such as the threat of space debris collisions, the impact of space activities on Earth's environment, and issues related to national interests and international security. Therefore, the international community needs to ensure the sustainability and peaceful utilization of space through cooperative mechanisms and international regulations.

Suborbital Accelerator of SpinLaunch

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SpinLaunch is an American aerospace technology development company that utilizes a unique "Suborbital Accelerator of SpinLaunch" instead of conventional fuel-powered propulsion to send payloads into orbit. The launcher resembles a massive spinning wheel, with the payload attached to a carbon fiber tether that rotates using electric power. Once the rotation speed reaches up to 5,000 mph, the payload is flung out into the sky using immense centrifugal force, and then a second-stage rocket is employed to place it into orbit. According to SpinLaunch, this method can save up to 70% of fuel and resources compared to traditional rockets, although currently, it can only handle payloads of up to 200 kilograms.

Brief Summary

Technology and business are two interdependent industries. The profits generated by business provide the fuel for technological research and development, enabling the technology field to engage in forward-looking exploration and innovation. At the same time, when technological advancements can successfully be implemented and meet market demands, they bring lucrative opportunities for business. However, it is important to be mindful that these emerging technological fields such as artificial intelligence, augmented reality, the Internet of Things, and blockchain, should not be solely focused on commercial interests without considering the overall human development and environmental sustainability. If these technologies are only viewed as tools for business, their potential may be squandered. It is crucial to evaluate the positive and negative impacts of these trends, strengthen the formulation of relevant laws and regulations, and strive for sustainable and healthy business and economic development.

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