The NRF Big Show is the world’s largest retail conference and expo. And while the official numbers aren’t in yet, in years past, the show has boasted over 37K attendees, 16K Retailers and more than 800+ exhibitors from 99 countries.
The sheer volume of new ideas, technologies and companies we experienced this past week was incredibly inspiring. And while we could create a top 50 or even 100 list, we’ve settled on 3 key takeaways from #NRF2019:
- Associate Engagement
- Retail Analytics and Customer Insights
- Machine Learning and AI
The daily pursuit of continuous operational improvement shouldn’t come at the expense of a companies most-valuable asset, it’s employees. As a people-centric organization, it was great to see that there were many new technologies and platforms focused on improvements in task management and employee communication. Tools and apps like those focused on shift-swapping are quickly becoming organically adopted by employees, which in-turn is garnering the interest of management. There is a clear win-win when associate engagement and morale are improved.
Retail Analytics and Customer Insights
Pulling disparate information sets together, like online sales, instore sales, CRM and traffic data is challenging. There were many offerings from organizations promising a more holistic view of the customer. Queue management, shopping patterns, dwell time, and getting employees where they need to be at the right moment were also topics and focal points for a variety of dashboards and data aggregation tools promising the holy grail of actionable consumer insights.
Machine Learning and AI
According to this NRF session summary, by 2021 75% of retailers will be using AI /Intelligent Automation for supply chain and demand forecasting, consumer intelligence, and marketing campaign management. And while we agree that adoption is and will continue to occur, much of the hype around AI and Machine learning is very reminiscent of the “Big Data” and “Cloud” buzzwords and phrases we’ve been seeing and hearing now for the better part of over 5 years. That said, industry giants like IBM, Google, Microsoft and Salesforce will continue to lead the charge, while many will take the wait and see approach. Either way, it’s here and not going away, but right now it still feels like there are currently a lot of half-baked solutions out there looking for problems to solve.
What were your takeaways?