NRF Vision Round Up
The show was opened by Microsoft CEO, Satya Nadella where he discussed the future of retail and how technology is transforming the industry.
Retails top industry experts discussed the rise of Innovation labs, how AI is impacting and the importance of a human-first digital strategy.
Key topics included:
- Retail Transformation
- Connected Commerce
- Retail Technology – how leading retailers like Walmart, Starbucks are innovating with ML/AI
Starbucks CEO, Kevin Johnson on the role of shared experiences and connection in the modern-day retail environment. He spoke about a human-first digital strategy the rise of their Innovation Lab for learning and AI and the importance of maintaining a “human connection”. Eliminating plastic was also discussed.
Walmart CEO discussed the introduction of its innovation lab to test new product development.
A snapshot of some key takeaways
- Lush Cosmetics and West Elm – Core values such as ethical sourcing, reduced packaging are key to successful ethical implementations. “A little greener everyday” is West elms slogan.
- Starbucks innovation continues — one cup at a time
- A return to entertainment and community – Experiential retail and themed experiences blend content and commerce. Themed based experiences draw the attention of consumers and families. Retail innovators are rethinking shopping as must-see content and one-of-a-kind experiences.
- Why Reebok and Target upended their loyalty programs – Deeper, meaningful connections with consumers. We must create deep and meaningful connections with consumers as brands. Loyalty programmes with tiers support this.
- Inside Walmart’s Intelligent Retail Lab – Rise of in-store AI labs. The Intelligent Retail Lab will be used to test and transform.
- Satya Nadella opens NRF 2020 Vision: Retail’s Big Show
- HBC and Ocado executives on making bold moves
- Rent the Runway CEO on how transparency builds customer loyalty