Wayfair has introduced its new AI powered tool, Muse, to inspire and personalize your home shopping experience.
Speaker AAccording to a Wayfair press release, Muse is designed to give customers an easy way to find inspiration and ideas for their homes by transforming how customers discover, personalize and shop for their dream spaces.
Speaker ABuilding on the success of Decorify, Wayfair's previous pilot application that allowed customers to select from a few preset styles to see how their space could be transformed, Muse takes it further to provide a trove of inspiration and ideas to build their aspirational home.
Speaker ADidn't expect to see Trove dropped in today's Fast5.
Speaker AHere's how it works.
Speaker AYou type in a style or a room you are looking for.
Speaker AIt can be as specific as Moody 1920s style living room that's top on my list.
Speaker ADan.
Speaker AOr as generic as dining room.
Speaker AAs you browse the rich AI imagery, you can shop the recommended items in each Muse or add it to a collection to review.
Speaker ALet me try to say that like a normal human being or add it to a collection to revisit later.
Speaker AWhen you find a Muse that sparks your interest, you can easily explore other Muses and products that share the same vibe.
Speaker AOnce you save a Muse, you can then upload a photo of your space to apply the style to any room of your house and voila, you have a fully designed room.
Speaker ALisa, are you buying or selling Wayfair Muse?
Speaker BI'm buying.
Speaker BI think it is a great.
Speaker BHere's what I love it because I think it is a great use of AI with the consumer in mind.
Speaker BRight.
Speaker BI mean the way I thought about it is I stepped back and said who doesn't want to dream?
Speaker BWho doesn't want to be inspired?
Speaker BAnd I think from a customer service like quality of customer consumer relationship, I think this thing that Wayfair is doing is pretty awesome.
Speaker BYes.
Speaker BIt's going to potentially inspire them to buy on their site.
Speaker BSo I do think it has conversion, but it's also just going to help the consumer in general that they can save it and come back to it and it allows the consumer to be somewhat creative themselves.
Speaker BSo I'm all for it.
Speaker BI.
Speaker BI'm buying.
Speaker AYou are.
Speaker AAnd are you buying?
Speaker AI think you are Based on.
Speaker COh my God, 100 I love when Lisa was talking.
Speaker AYou do?
Speaker AWhy?
Speaker CSuper.
Speaker CIt's super simple to use.
Speaker CI use it.
Speaker CYeah, I did.
Speaker CI.
Speaker CI mean I looked up crazy search terms too like coastal Spanish modern and mid Midwest mid century modern and Midwestern coastal.
Speaker CYeah, I mean it wasn't Always perfect.
Speaker CThe results weren't always perfect, but the UX is brilliant.
Speaker CLike, I can just hit.
Speaker CLike, I, you know, I can so search those products.
Speaker CI can put them to my cart right away.
Speaker CBut I think that the most brilliant point here, and Lisa hit on this too.
Speaker CThey're using AI to just adjust the imagery.
Speaker CThey're putting an ocean outside of the window in that setting and changing a few simple things, which is what AI should be used for to make me feel as a consumer.
Speaker CLike, they're personalizing this experience to even the most crazy search terms that I might be putting in here.
Speaker CAnd they're giving me a way to very easily click and buy.
Speaker CSo I think this.
Speaker CI'm super excited.
Speaker CI'm interviewing Fiona Tannet, the CTO at Wayfair at Shop Talk, and I cannot wait to talk to her just about, like, the evolution of this, because it really is quite a step up from what decorify was.
Speaker CAnd now you're.
Speaker CYou're really.
Speaker CIt's really focused on inspiration and then providing that ease of use of getting to products.
Speaker CSo I love it.
Speaker AWe were all in on decorify last year, too, and I can't wait for you to talk to Fiona at Shop Dog.
Speaker AIt's gonna be awesome.
Speaker AAll right, Dave, I'm let you go next because, you know, I'm, I'm.
Speaker AI'm in their camp and I don't.
Speaker AI want to see where you stand before, because maybe I need the retort to try to convince you to come to our spot.
Speaker AWhat's your thoughts here?
Speaker DI have one foot in the camp.
Speaker AOkay.
Speaker BOne foot.
Speaker DSuper cool.
Speaker DI played with it yesterday.
Speaker DI think that it's really well done, very well executed.
Speaker DYeah, we'll see how the whole software update thing works out.
Speaker DYou know, since you guys think that's a big issue going forward.
Speaker DBut, but here's my question, and you said something really interesting, kind of, what's the evolution of it?
Speaker DAnd Wonder, you know, does eventually this become a revenue source and, you know, it becomes an interior design service, you know, is also pretty heavily tied into a lot of the online design services.
Speaker DRight.
Speaker DYou know, there are a referral from whether it's Joybird or Stucco or Heavenly or, you know, pick in one of them.
Speaker DWhat are they thinking about this?
Speaker DRight?
Speaker AYeah, that's what I thought too.
Speaker DLike, you know, it's like, I'm.
Speaker DI'm not sure.
Speaker DYou know, pissing off a bunch of partners is.
Speaker DIs.
Speaker DIs Retail Strategy 101.
Speaker DUnless the evolution is I'm going to be a better version of that.
Speaker DAnd, and I'm just taking it over.
Speaker DSo I think it's cool.
Speaker DI think it's really well done.
Speaker DI'm super curious about what the evolution of, is it going forward and how does it work in the broader ecosystem of, of interior design?
Speaker AYeah, that, that, that's exactly the points I had too, David.
Speaker ALike, yeah, the impact's going to be on the interior designers, but that's what Wafers brand is too.
Speaker AWafer's brand is like basically like affordable design, you know, at the end of the day.
Speaker AAnd so if you can use tech to do that, why not?
Speaker AAnd that's the other point I'd make here, is because this, this is an example to me of also like, why Wayfair continues to win or hold its own within the home furnishing space.
Speaker ABecause it's, it uses, it constantly uses its tech to showcase its category, whereas Amazon has to use its tech to tap into everything that it provides.
Speaker ABut Wayfair's been smart about that and, and for that reason it's gotten a leg up on Target and Walmart over the years.
Speaker AAnd it continues to take this approach, which is, which is a definitive approach.
Speaker AI had coffee with, with Wayfair CEO back when I was running home furnishings at the Vidara in Las Vegas, and he told me that that's the way he thinks about the business.
Speaker AHe's going to continue to use tech to showcase the category of home furnishings.
Speaker AAnd I think you're right.
Speaker AThere could be some fallout from this in the space, but consumers will gravitate towards it if they find it useful.
Speaker DYeah, it's easier.
Speaker DRight, right, right.
Speaker DLike, you know, here, sign a contract, you know, take a bunch of photos of my room like that.
Speaker DIt can be AI generated, et cetera.
Speaker DSo I think the future evolution is super interesting.
Speaker CWell, and you, you still need the interior designers to pull from multiple sources.
Speaker CLike the, the idea that you're going to get all of the things to out room from Wayfair is probably not true.
Speaker CYou might, you know, that's where the designers come in to help you like, you know, pick the right places to invest.
Speaker CAnd the right places depends on your budget too though.
Speaker CRight?
Speaker AExactly.
Speaker DOr does Wayfair become a bit of a marketplace in the future with kind of the service so that it will allow them to actually pull from other sites too.
Speaker CRight, right.