Target is taking a big stand on the Internet of Things and will collaborate with Indiegogo to create a dedicated space within the Target Open House in San Francisco.
The space will feature a rotating selection of products that are currently seeking funding on Indiegogo, a crowd-funding site known for showcasing and supporting new inventions. The first assortment is already in place and features products from three completed crowd-funded campaigns. Future selections will have active campaigns, according to Target.
Open House visitors will be able to interact with products that had previously only been accessible online. The location of Target's Open House near Silicon Valley and in the heart of startup country also makes the items available to other entrepreneurs, who will benefit by "gaining unprecedented access to a major retailer and the chance to test their products in person with real consumers," according to Target.
"Since opening in July, we've learned a lot about the connected home space, products, and Target's role in facilitating connections. Most importantly, we also know that Target Open House was built to be an iterative model and we're working every day to build the future experience," said Kate Whitcomb, innovation lead for Target. "Indiegogo is known for unearthing some of today's earliest-stage innovations. Teaming up with them was a natural next step for the Open House team as we continue to seek out emerging technologies in the connected home space."
"For many startups, achieving national distribution through a retailer like Target is the cornerstone of success. But traditionally, getting to that stage has been virtually impossible for early-stage startups," said Dave Mandelbrot, COO of Indiegogo. "Crowd-funding is the perfect litmus test for retail because a successful campaign demonstrates market demand, fuels brand awareness, and is a testament to the competency of a startup's ability to execute on their marketing strategy. All of which can predict future success."
IoT promises big things for retailers. Target added smart home departments in stores in May while Sears and Home Depot have similar solutions. Target debuted Open House this summer in a 3,500 sq. ft. lab below a CityTarget that was a former C9 Active Apparel store.
-See this Target blog post
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