Royce Leather has introduced a GPS-enabled wallet that coordinates with a mobile application so users can track their wallets and keep their money safe.
The wallet, which will be sold exclusively at Macy’s, claims to be the world’s first GPS-enabled wallet and points to how Royce Leather is hoping to stay relevant given the emergence of mobile wallet solutions. While wallets often represent consumers’ personal style, Royce Leather provides a fashionable solution that also incorporates a tech aspect.
“Mobile was integrated into my GPS Tracking Wallet at Macy’s because I think my customers deserve better features when they spend their hard earned money on my designs,” said Andrew Royce Bauer, CEO of Royce Leather. “To have the best customer experience, you deserve the best product.
“Mobile is an accessory to our daily lives; it improves our communication, our productivity, and most importantly our connection to each other,” he said. “By integrating mobile into my Royce Leather designs, I am enhancing the value of my fashion product for a consumer that is actively seeking the benefits of mobile technology.”
Physical versus technology
The wallet’s mobile technology was designed in California, and developers of the wallet believe it meets the rapidly growing demand for luxury technology.
The wallet is made with Italian Saffiano leather, RFID blocking technology and GPS technology, and will be part of a larger fashion accessories collection by Royce Leather. Other styles include the utilization of DNA-based fingerprint technology and the RFID blocking technology.
When making the wallet, Royce Leather took into consideration recent findings from Javelin Strategy and Research, which show 13.3 million Americans were victims of identity theft last year, which equates to one victim every two seconds.
The Freedom Wallet app, available on iOS and Android devices, features an alarm, the location tracker and a very simple design.
Mobile is center
Macy’s is a mobile-driven retailer, making it a smart decision to target its customers in the promotion of a wallet that coordinates with a mobile app.
For example, Macy’s drummed up more excitement for Black Friday shoppers by enabling users of its mobile application to scan QR codes in-store to receive digital gift codes and prizes as part of an instant win experience.
The retail brand awarded $1 million in prizes during its Black Friday sales, beginning at 6 p.m. on Thanksgiving Day. Customers had the chance to unlock gift codes worth up to $250 when they used their Macy’s mobile app to scan QR codes available in-store (see story
Macy’s also recently rolled out a browser-based digital wallet solution called My Wallet, available to in-store, online and mobile shoppers, that places users’ credit cards and Macy’s digital coupons and promotions in one place.
The solution launched in September. Consumers are more willing to make purchases online and are looking for easier ways to keep up with their coupons, causing a turn to mobile wallet solutions to encourage more seamless purchases and savings abilities. Macy’s is likely seeing strong usage of its digital wallet given its simplistic appeal and the surge in holiday spending (see story
“Macy’s is the largest department store in the world,” Mr. Bauer said. “They have consistently proven as a retailer to showcase the most diverse selection of products that would appeal to people across the country regardless of demographic.
“Macy’s provides a very effective mobile experience for their respective customers; it only made sense for them to translate this strategy to their merchandising plans,” he said.
Caitlyn Bohannon is an editorial assistant at Mobile Commerce Daily, New York