Mastercard and Next Retail Concepts Upgrade Online Shopping Just in Time for the Holidays

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The FINANCIAL — The days of mindlessly scrolling through pages of products while shopping online are over thanks to a new ecommerce experience from Mastercard and Next Retail Concepts. The innovative digital environment lets shoppers browse and buy just like they are in a physical store—across any browser.

Consumers will find this new, immersive way to shop very different than the ecommerce experience they are used to. A shopper can virtually navigate through a three-dimensional store, interact with their favorite brands, and engage with digital content curated by the retailer. Purchases are frictionless, secure and occur in the same environment, as the technology integrates seamlessly with a merchant’s existing ecommerce platform.
Mastercard and Next Retail Concepts are launching the platform with premium retail brand, Fred Segal, and will premiere the experience at 29Rooms in Los Angeles, Refinery29’s groundbreaking experiential event.

Together with Refinery29, the companies curated an exclusive collection of holiday gifts shoppable only online. At the point of purchase, shoppers paying with their Mastercard can sign up for a one-time loyalty reward to receive a $30 statement credit when they spend $200 or more on the collection.

The virtual experience not only shifts online shopping from transactional to experiential, but also provides access to tools and insights to further engage shoppers. Retailers who leverage the technology also have the ability to provide customized offers as well as gain analytics on overall store performance.

Some of the special perks include pre- and post-sale tickets, the chance to skip the line of one room of their choice with special “Room Keys,” a 10 percent discount in the merch store, and other Priceless experiences.

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