Interview: Beck Besecker, CEO and Co-Founder, Marxent
RTIH gets the lowdown on Marxent, whose 3D cloud and 3D applications are used by omnichannel home improvement and home furnishings retailers and manufacturers to reduce returns, sell bigger baskets, and enhance CX.
RTIH: Tell us about Marxent and the inspiration behind setting the company up.
BB: We’ve always worked on what’s next in retail and were fascinated with the promise of emerging technologies like 3D, AR, and VR.
We tested for product/market fit in several verticals and eventually found our hook in the home goods vertical where the cost of modelling, the shelf life of 3D assets, and the consumer need proved out the unit economics of the business model.
We then worked our way across adjacent categories including furniture, kitchen cabinets, bathrooms, and outdoor decking with the mission of bringing these big ticket categories online via our 3D cloud and 3D applications.
RTIH: What have been the highlights and challenges thus far?
BB: We have had the opportunity to be among the first in retail with AR and behind the largest roll-out of VR in retail history.
Pioneering a space is exciting but ironically you have to invent the category and prove it out which always takes longer than initially expected.
Though Covid has been difficult on so many fronts, it has accelerated the business case for 3D apps.
Over the past year, it has been exciting to see 3D move from an early adopter technology to a mission-critical investment for furniture and DIY retailers in light of the need for virtual selling.
RTIH: You recently secured Series C financing.
Arnie Bellini of Bellini Capital, the lead investor in the round, said: “Marxent's 3D commerce platform will transform both the customer experience and underlying ecosystem like Netflix and Tesla did for their categories.”
That’s quite a claim. Could you expand upon it?
BB: Netflix and Tesla both disrupted verticals through a combination of extraordinary user experiences and new systems, applications, processes, supply chains, and ways of working.
At Marxent we are doing just that. Most people see the ease of use of our applications - we’ve made it easy for anyone with zero training to layout a kitchen in a snap, for instance. What they don’t see is the hidden complexity.
The plumbing, so to speak. We have merged inspiration with design and have truly revolutionised 3D commerce with our scalable, multi-tenant, 3D content management platform, and coming 3D marketplace.
RTIH: Could you tell us about your work with John Lewis and other clients?
BB: Every retailer we’ve worked with - from Macy’s and La-Z-Boy to Lowe’s Home Improvement and John Lewis - has started their 3D journey in a different place.
Some start with augmented reality, others with our 3D Room Planner for Web or 360 Product Spins. John Lewis started their journey with in-store virtual reality.
They were a leader early on, recognising that 3D could help them to create more compelling experiences and deliver on their customer service promise.
Though their initial focus was on an in-store application, even before Covid the need for more advanced 3D and virtual selling tools was developing. When Covid closed stores initially, they realised that they could use the tech to pivot to virtual selling.
Now, with stores closed again, John Lewis is able to offer virtual home furnishings design services to customers using Marxent’s 3D Room Planner for Web with HD renders.
RTIH: What are the biggest challenges facing the omnichannel retail sector right now and how can you help?
BB: For consumers, 3D experiences should be seamless and painless. The reality is that there is significant complexity and many stakeholders when it comes to pulling it all off.
Systems collide, there can be issues with workflows, file formats, device support, speed, quality, trade partner relationships, integrations, etc. We make all this complexity turn-key.
How has the coronavirus pandemic impacted the business? There’s no question that the entire retail industry has been challenged by shutdowns and the call for social distancing.
This paired with the acceleration of e-commerce and demand for virtual selling experiences has changed the dynamic between in-store and online channels.
We found ourselves in a fortunate situation to help our clients move into virtual selling and we expect to see this model become a permanent part of retail.
RTIH: What can we expect to see from Marxent over the next 12 months?
BB: Over the next 12 months, we expect to double in size and grow substantially in Europe.
Augmented reality will be reinvented. We’ll roll-out smart design solutions. and you’ll see more from us on the relationship between visual inspiration and e-commerce.
Expect more collaboration tools, new partnerships, and new categories like office furniture. The consumer hunger for 3D e-commerce applications is bottomless and retailers are ready to move.
We have a great team, are looking forward to adding more talent, and are really excited about the year ahead.
