Next into the tank is Hugh he's found a High-tech way to persuade window Shoppers to open their wallets I've got A brand new piece of technology that Hasn't been seen before obviously a Little bit nervous to pitch it to the Sharks today I think I've recited my Pitch over and over again about 400 Times Hopefully the Sharks will be interested And help me achieve my dreams [Music] Hi sharks my name's Hugh Campbell I'm the owner of snap social Snap social Is an interactive digital display that Sits in retail stores that Bridges the Gap between e-commerce and in-store Purchases I'm here today seeking a Hundred thousand dollars for twenty Percent my business technology has Helped a lot of Industries over Embracing times And in particular retail sorry that's Okay you're doing really well I imagine It's the most important moment of your Life don't worry Excellent Um [Music] It comes in they simply pick a garment Up they go to the change room they walk Up to a snap social Booth takes an image Of themselves from here they can then
Send it to their friends put it on Social media get advice The plus with SNAP social is the fact That we can also work out what you're Wearing and send you a cart with a wish List full of all the items that you try To uninstall that day When you get home you then have the Opportunity to go back through the wish List or the cart pick one of the items That you liked make an online purchase And will be delivered to your door I'm hoping that one of the you sharks Today will take an interest as much as I Have into snap social and see how it can Be put into Industries such as retail Great well done thank you well done very Nervous yeah Yeah so just to clarify that you're Seeking a hundred thousand dollars yes For twenty percent which values your Business at half a million dollars yes Would you like to show us how it works I Would are you looking for a model I am Okay so show us how it works okay yep These are the fabric glasses we like This Pop them on right very nice walk around Up to the booth and it will just start Snapping away I'm gonna take a few images of you Okay You've done that before It's a lot of fun
So now you can email that file to Yourself yeah [Music] Oh there's me that hasn't been scary at All for us laughs and you open your Email okay fabulous you then have a link To everything that you had in store you Can then decide to purchase those or you Can come back to that sale at a later Date oh fantastic So I'm trying to work out did you come Up with this idea yes And have you done all the tech behind it Yes so you're the the one-man Tech man Yes well I think this is a wonderful Evolution of an existing product cute The thing that concerns me about your Idea is that she's worried already Yeah there's all these sorts of products Out there at the moment That do probably more than that So why are you going to be successful in This space in the modern world social Media is really important and the speed Of access to those images so with any of The images that you take from here we Can set them up so they're ready to go Straight onto Instagram story or snap Story or Facebook whatever it might be So it's this is a lot quicker than Anything that's currently on the market Why can't I just go click click selfie Because you can but then you don't have The cart ready waiting for you at home
With all the clothes you've tried on That day put them in the shop come on I Just got the counter But you might walk out you might later On decide that you want to purchase Something that you didn't or you might Not have enough money or alternatively You might have a partner at home that You want to send an email to to get to Buy the clothes for one more question Have you spoken to retailers see if they Want it yes I have who uh we've spoken To three National and I've got one International sunglasses business that We're about to roll out [Music] What technology does that use we have Chips so there's RFID chips so there's RFID in the product so every product Needs RFID correct but there's a lot More to a screen in the camera here yes Correct the other thing is do you think The person who runs that store wants the Person to walk out and not make a Decision no but it's good that's Dangerous for the person in the store Right For the first time to store [Music] Obviously the sales assistants are Hoping that you're going to make make The purchase and make the sale the Problem is if you don't For the retailer they're able to gather
Information data email and it's a more So social sharing we've we've been Approached by a lingerie business in in Melbourne that has stores How does that work you're going to put Yourself away It's on it's on us at the moment because I get access to that feed please I'm Actually asked to put them in chain Drones and I said no Um the so their plan was that they'd put Them outside the change room so women Could come and take a photo send them to Their partners and then their Partners Would make the purchase To explain a typical sale to us a Typical sale is uh they have an option Of leasing it for 1500 a month in store Wow we also have an option that we can Actually take Clips off sales that are Made through their e-commerce platforms Well let's just do a reality check to Actually build this equipment and put it Into what's it costing you about twelve Hundred dollars Oh and then you're charging them out at 1500 bucks a month but that's so with That comes other services so it comes It's a package deal but your net net is Looking pretty amazing it's pretty handy [Music] And how many of you got out now I have 25 of these and I have 40 photo booths And how much money is that making I've
Made a little over 250 000 last year At the bottom line what that's at 80 Margin that's yeah Top Line Top Line Nice So if you had this in a hundred stores At 1500 a month yes that's 1.8 million a Year So what's the compelling proposition to The retailer how do you say to them it's Worth you spending 1500 a month of Course the big thing is data when it Comes down to it um when someone walks In store say hypothetically that they Make they check out using Facebook They'll be able to track that the whole The life of that customer all the way Back to advertising three months ago and The whole way through when they would When they actually click Those ads yes I Believe that Can you prove that yeah 100 I mean What's the number then what's the Conversion rate currently with with Sunglasses so this is prime example with Some sunglasses it's just a big one that A lot of people go into store and they Try them on and they don't buy them yeah What's the number so you have found that Sunglasses between 50 and 60 growth Using this within with a month's test Sorry but where's the proof there I Don't believe that Activation with a sunglasses company Over a week comparing the two so you're
Saying that out of all the people that Came so 50 60 went home and made a Purchase Oh I don't believe you It's fun And the reason it is it's because you Because what research has shown though Is that people are impulse purchases Yeah they come in they make the research They come in and they buy their wallets Out you get them while they get Nets and Sales people are there to actually sell Them Janine for the store in my opinion They've lost them and just to get that Data now they can then remarket to them Which they could never do before because At the moment they do not know who their Foot traffic is and it's a real Challenge they want to be able to know Who was in their store to bring them Back into the fold it's actually a Really clever application in terms of The trends in retail you're doing it's Also all about a data grab of customers Absolutely which is what Hugh said Too much Tech in a simple World in a World that's shrinking They put Millions into this is over Purposing of a technology To a universe that people probably don't Yet know they want to participate in The tech works the question is can you Actually leverage a person into caring About
Becoming very sensitive and people give My email addresses now it's getting Harder and harder all the time so you've Got to get them to buy into your system So but I wish you all the best thank you We've really enjoyed your pitch Um always like in this situations I hope I'm wrong I'm out and I wish you all the Best Foreign [Music] Innovation retail is actually a must People have to innovate or they'll they Won't exist and there's many examples of That In other words there's too much Innovation out there and people don't Know which one to pick I think this is not the one I'm gonna Back I'm out Thank you Phew you're a genuine guy you've done Something interesting move the needle And you've got a product and I I kind of Believe that you've latched onto Something Um I hate your business modeling Yeah there's too many moving parts for You to manufacture support deliver sell You know I mean it's a nightmare but I'm Saying for me execution risk is too high I'm out [Music]
Um you know I like what you're up to Because you're providing a solution To retailers you've got two or three Conversations that are hot and running And you've been developing a product for Them So much going on in the space I don't Know whether to back you or not But for that reason I'm out I don't know why they're all so negative Because we're really looking for Innovation in retail and either I see Something they don't or I'm just having A happy day Uh although I think you're fabulous to Really partner with you I think you need A a lot of extra support and skills Um and you've asked for you know you've Said 100 100 000 for 20 and 20 isn't Enough I think I need to put in a whole Heap of energy especially around Infrastructure I also think that you're Going to need some big introductions to Some retailers So um I am going to make you an offer There you go But it's going to be dependent on making Sure we can get it into one of those big Retailers so um it's a hundred thousand Dollars for 45 of your business Foreign So Hugh he came in with a valuation of 500 000 Naomi's offer changes that to 222 000. this is this is honestly the
Thing I really did test about people Investing in Tech in Australia you don't Leave Founders month Equity to actually Dole them in and if you do that you Waste all your money because if he gets Disincentivized he leaves and the Business is broken So cute it hasn't come with the cash There is no thing there so really it is More about partnership and so you have To say is she the one that's going to Help me grow my business get it where it Needs to be sooner rather than later But likewise if I'm going to invest what I need to invest to scale this I have to Really make it worth my while Would you consider 33 percent Mate what are you doing you don't have Any other partners do you no okay let me Think about that Understand how bad that deal is This is speed to market now that's what I want to do I want to roll this out Really quickly Accept your offer oh there we go good Job Good job Wear socks next time I've got socks on What are you gonna do with that Yes and that's a data it's a data point I liked your idea I don't know why they Don't just take a selfie I'm pumped I'm I'm speechless that's
Great it's been a uh amazing result That's what I came here for and I've got It so I'm wrapped
