NRF 2020 Vision: Retail's Big Show brought a record 40,000 attendees to the Javits Center in New York City on Sunday, amid a strong economy and an industry focus on fueling growth through tech innovation. Tech executives from companies including Microsoft and Oracle shared insights into key innovation areas and Walmart US CEO John Furner talked about raising the customer service bar by empowering employees.
As a fashion rental pioneer, Rent the Runway had to invent a new logistical system and deal with the challenges that came with debuting a new warehouse system last year, CEO Jennifer Hyman said at NRF 2020 Vision: Retail's Big Show. "We took the decision to be entirely transparent with our customers about what was happening and why this was happening and to be very generous with them financially as well," she said.
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Target's launch of its new All in Motion activewear line brings the retailer's roster of private-label brands to 41 across categories including apparel, beauty and grocery. "More choice gives more reason to come into the store, because you'll see something you won't see anywhere else," said Kelly Nickerson, vice president of strategic consulting at Epsilon.
Privately owned specialty department store Boscov's will open its 49th store this year, in a former Sears space in Niles, Ohio. Diverse departments, deep product assortments and a focus on customer service are winning shoppers and keeping the retailer in growth mode, CEO Jim Boscov said.
Digital coupons, personalized searches and options for curbside pickup or delivery are among the changes coming as Wegmans Food Markets prepares to unveil a revamped website and app. The Rochester, N.Y.-based grocer sent an email to customers about the changes on Friday and also said its website and app would be down temporarily today but functioning normally again on Tuesday.
Driving Recommendations in Real-time Data remains a core battleground for creating unified customer experiences. Businesses need to not only capture and unify disparate sources of consumer data but effectively contextualize and operationalize information to push critical insights across channels and differing organizational stakeholder groups with a hand in shaping the customer journey. Read the Aerospike blog,hear Wayfair at our session Monday 4pm, and meet Aerospike at booth #959
Convenience stores including Wawa, Sheetz and 7-Eleven have become popular food and beverage destinations, with improved offerings that feed consumers' growing snacking habits. C-store sales are up about 30% from a decade ago, and the number of US convenience stores has grown by 28% since 2000.
Consumers will pay more for products and brands that are in line with their values and one-third will stop buying from brands they've lost trust in, according to research from IBM and NRF. About 70% of consumers who shop based on their values pay 35% more for sustainable products, the survey found.
Walgreens is expanding its partnership with Cooler Screens, which utilizes sensors and cameras and enables participating brands to deliver tailored messaging to shoppers based on attributes such as age and gender. Walgreens completed its initial Cooler Screens pilot and is launching the service in the Chicagoland area with plans to roll out to 2,500 US locations with the potential to reach more than 75 million individuals monthly.
Robotics may not play a big role on the consumer-facing side of retail but the technology is increasingly powering things on the back end, said eMarketer principal analyst Andrew Lipsman. Robotic tools from companies including Ocado and Takeoff Technologies are providing retailers with more cost-effective ways to handle e-commerce order fulfillment.
Kohl's CEO Michelle Gass is championing innovative thinking and bold initiatives, transforming the company's culture to embrace new ideas that excite customers and allow it to thrive in today's dynamic retail environment. Gass, the recipient of NRF's "The Visionary" award, talked about the company's future and her own career at NRF 2020 Vision: Retail's Big Show.
Retail is a massive generator of data -- as much as 40 terabytes an hour. The question is: What will they do with all that data? "The meme of the twenties will be retailers moving to their own tech intensity. It's not about taking away the art of retail. It's about building your tech intensity," Microsoft CEO Satya Nadella said during a keynote address for NRF 2020 Vision: Retail's Big Show.
Popeyes, with Gut Miami, rewarded a contestant on Canada's "Family Feud" with a $10,000 gift to spend at the chain for her incorrect, brand-influenced answer of "chicken" to the question, "What is Popeye's favorite food?" The gift was tweeted to the contestant, Eve Dubois, in quick response to the clip going viral on Twitter and Popeyes' Fernando Machado says, "It's amazing how Popeyes became so top of mind when it comes to chicken."