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To make trying products at home frictionless for consumers and sustainable for brands.
Even as the eCommerce boom goes on, it remains haunted by some of the same problems that plagued its brick-and-mortar predecessors. One of them is the issue of returned products: how are brands to minimize the losses caused by the roughly 10% of purchases that are returned, and can no longer be sold at full price? Nok is offering an innovative solution: provide potential customers short-term access to test versions of high-investment purchases, allowing them to try-before-they-buy without taking a dent out of the brand’s bottom line.
Nok is focused primarily on high-end items like watches, jewellery, and consumer electronics: highly competitive markets where facilitating an in-person trial could put a brand head and shoulders above its rivals. Transforming the losses of returned products into highly effective marketing campaign is a unique, and potentially game-changing proposition.
Looking ahead, consumers still appear to hold onto some level of caution when making large purchases. Further, Nok's ability now to deliver test pieces within 2 hours demonstrates an impressive handle on last-mile delivery which could see brands lean more heavily on the company for distribution as supply chain disruptions continue to hinder logistics across the board. With both these factors in mind, Nok should see success in the future.
Steph
Company Specialist at Welcome to the Jungle
Bobby Wann
(CEO)Previously founded Geekin Radio - an online radio station.
Renato Anselmi Ricci
(COO)Previously a Strategy Consultant at PwC.