Shoptalk 2022: Retail’s Big Reunion

[ad_1]

After a two-year hiatus, close to 10,000 retail innovators joined forces in Las Vegas last month for Shoptalk. The much-anticipated event focused on the future of retail, highlighting new technologies, trends and business models. Shoptalk offered a variety of engaging speakers, from small startups to the biggest brand names in the industry, along with original content. But most of all, it was a chance for us in the e-commerce industry to meet face-to-face once again.

What’s Trending

Diversity, inclusion, technology, and shopper convenience ruled Shoptalk conversation, offering insights into current trends. Below is a sampling of the direction retailers will be taking over the next 12 months.

Inclusion and Diversity

Major brands, such as REI, Sephora, and Stitch Fix, have all made commitments to inclusion within their corporate cultures. They’re committed to diversifying their employment rosters and their product lines.

  • Susan Viscon, senior vice president of corporate development and investment for REI, explained how after she realized that less than 2 percent of brands carried by the retailer were led by people of color (POC), she spearheaded an accelerator program which offers POC an incubator program where they can launch a product and bring it to market.
  • Sephora, the first company to sign the Fifteen Percent Pledge — a commitment to have 15 percent of their product line from companies owned by POC — has expanded its hair care and makeup lines to better serve people of all races.
  • Stitch Fix is focusing on inclusion by bringing more women into the technology industry at pay equal to their male counterparts. Additionally, the company is focusing on offering modern styles in larger sizes. A recent study revealed that 60 percent of women in the United States wear a size 16 or higher, so Stitch Fix has pledged to better meet market need by growing its plus-size segment by 20 percent.

Emerging Digital Technologies

Executives from Walmart, Fabletics, and Estee Lauder focused on some of the new digital technologies that are leading the way in retail. Below is a listing of those they find most cutting edge in improving customer experience:

  • Livestream: Described as huge during the peak of the COVID-19 pandemic, livestream shopping is another opportunity to digitally meet your customers. Meera Bhatia, chief operating officer at Fabletics, believes it’s beneficial to all brands with a big social media presence.
  • Metaverse: Liz Bacelar, executive director of global tech innovation at Estee Lauder, said that the metaverse can’t be escaped and that she believes TikTok and YouTube will migrate to it. She views it as the evolution of the internet and believes that within the next four years all marketing teams must have experience in blockchain.
  • Checkout-Free Technology: Anshu Bhardwaj, senior vice president of technology strategy and commercialization at Walmart Global Tech, believes that checkout-free technology is any payment process that reduces friction for in-store customers. Bhardwaj went on to say that contactless payments and curbside pickup are the way of the future.
  • Artificial Intelligence (AI): Bhardwaj believes AI is a digital transformation for every industry that simplifies life for both customers and employees.
  • Buy Now Pay Later (BNPL): Bhatia discussed how this technology is exciting for e-tailers because it drives consumer behavior; Bhardwaj added that it gives customers more choices. Bacelar shared that BNPL been a staple in Brazil for some time and the result is larger average order values.
  • Robotics In-Store: Bhardwaj shared that using in-store robotics helps customers and employees. Customers can find what they need more quickly, and employees are able to have more face time with customers.

Omnichannel

Omnichannel continues to be the way of the future for retail. As COVID numbers wane and restrictions are lifted, consumers are anxious to get back in stores, but digital storefronts aren’t going anywhere. Even if a purchase is made in-store, the customer journey typically begins online. Cara Sylvester, executive vice president, chief marketing and digital officer at Target, along with Matt Baer, chief digital and customer officer at Macy’s, spoke of how to effectively guide the omnichannel customer. Key to this process is making sure that marketing, operations, and e-commerce departments are in sync. Breaking down data silos and investing in cross-functional teams can better drive a connected journey across channels.

For example, a shopper may see a pair of shoes they like on Facebook, click on the ad and end up on the brand’s site. From there, they may browse other products. Later that week, the shopper might be near the brand’s brick-and-mortar store and get an ad on their phone about the shoes and finish their shopping journey in-store. When teams are well connected and share data, the journey is much better guided.

Personalization

Modern consumers expect shopping experiences to be tailored to their preferences and buying habits. Bradford Shellhammer, vice president of buyer experience and eBay for Charity, and general manager at eBay New York; Julie Bornstein, co-founder and CEO of The Yes; and Nadine Graham, vice president of digital client experience at Sephora, discussed the importance of targeting messaging and advertising to the shopper’s needs. Brands use “clienteling” to form long-term relationships with customers based on data about their past purchases and browsing habits. If a brand knows that a particular customer has already purchased a pair of jeans, they can recommend a shirt or blazer that will go with the jeans via an email or on social media. They can do the same with promotions that they know match a particular customer’s shopping habits. This cuts out unnecessary noise and helps brands curate a positive and engaging shopping experience for customers.

Main Takeaways From Shoptalk 2022

The main takeaways from Shoptalk 2022 are that e-commerce is still on the rise and that the online shopping experience is vital to brands’ bottom lines. Companies need to embrace new technologies or be left behind as omnichannel and personalization become expected by consumers. It’s all about shoppers’ journeys as we look to the future of retail. And judging by the massive crowds at the event, Shoptalk proved that after two years of mainly digital conferences, retailers are eager to return to in-person conferences to network, learn about industry trends, and discover cutting-edge technologies that will help them grow their brands.

Rich Stendardo is the CEO of Yottaa, an e-commerce acceleration platform.



[ad_2]

Source link

pga77 pga77 slot suster123 kijangwin ladangtoto rajatogel slot-gopay kakek zeus scatter-hitam scatter-hitam kijangwin suster123 scatter-hitam slot taiwan slot-gopay hoki99 slot linkaja slot ovo nenektogel gasing777 tumi123 bento123 fendi188 gasing777 66kbet scatter-pink scatter-hijau ladangtoto ladangtoto gudangtoto rajatogel nusantara4d ladangtoto scatter-hitam slot-bsi scatter-hitam ladangtoto slot-bri pga77 slot-goceng slot-10k opaltogel scatter-hitam jp188 ladangtoto slot-linkaja slot-cimb slot-gopay slot77 sbankjago sbca slot-qris ladangtoto slot-dana idnslot slot-mandiri slot-maybank ladangtoto scatter-hitam ultra889 sumseltoto medantoto rajampo raja88jp indoslot88 asiatoto88 mpltoto wajik777 tumi123 kembangtoto alexistogel mawartoto rajatogel wajik777 madu303 mpo888 sikat88 gucitoto pga77 pga77 ladangtoto olx188 gacor88 ayah4d pga77 pga77 gemilang4d ladangtoto petir388 kembangtoto sikat88 ying77 slot212 texas88 slot138 rp888 rumah258 cuan88 slot-bonanza scatter-hitam slot-dana kakek-merah rajampo lampung4d alay4d jambitoto manadototo binjaitoto pajaktoto popotogel 888slot jacktoto kaskustoto keitogel laku77 wing4d bostoto laetoto afktoto rudaltoto ojktoto pga77 rajagacor olxslot rajatogel jacktoto bento4d kaskustoto pga77 preman69 mpo808 mpoxtra838 rajatogel rajagacor ladangtoto asiatoto tumi123 olx188 bro138 galaxy77 asiatogel88 gacor88 rajatogel slot77 padangtoto rasa4d sdtoto omtogel ltdtoto dentoto rupiahtoto gacor88 pgbet slot-thailand mawartoto rajatogel rajatogel rudaltoto mawartoto topjitu toto188 mom4d 888slot sdtoto angkasa168 hondatoto 888slot bro138 scatter-hitam slot-zeus kaskustoto rajatogel tumi123 mustang303 api5000 senja777 super33 dewanaga89 hokibet dewa234 sizi99 cuanwin77 liga2000 88mega popi99 bento123 macauslot 888slot hoki178 jackpot108 gadunslot gacor88 king999 rajampo big777 kedai69 rp888 rajapaito ladangtoto rajatogel gtr11 slot99bet alba88 stars77 mangga2bet klik88 rans288 fin4d ceriabet leoslot88 agen108 dewasurga88 dragon222 gacorbos88 medusa88 pga77 pga77 pga77 surgawin homebet88 bento4d pga77 pga77 jago777 sgpslot api88 m77casino m77slot rajatogel bento4d m77casino m77slot hoki178 rudaltoto wajik777 gacor88 rajampo ladangtoto pga77 juragan69 texas88 mahjong69 galaxy77 pga77 hebat303 pga77 pga77 ladangtoto asiatoto inatogel toto88 jacktoto robintogel ladangtoto pga77 888slot wajikslot olx188 olxslot inatogel pga77 gacor88 pga77 bento4d robintogel asiatoto dewatoto gacor88 888slot slot-zeus slot-dana pga77 pga77 zodiak69 licin4d pga77 888dewa asian303 888slot indosultan88 slot-zeus Slot-Mahjong 66kbet rumah258 ying77 betseru pga77 scatter-hitam jayagaming lido88 hoki178 batik77 medusa88 duniabet303 royaltoto indosultan88 wdbos 888slot 888dewa wajik777 royaltoto wdbos gacor88 raja328 planet77 dewi188 slot-zeus slot-dana dewihoki fendi188 hoki178 batik77 pga77 naga138 robintogel surga55 pga77 slot-maxwin rajampo pga77 lotte4d 888slot pga77 angkasa168 pga77 cermin4d bento4d pga77 toto88 operatoto gacor88 olx188 m77casino m77casino pga77 pga77 888slot api5000 pga77 pga77 m77casino pga77 juragan69 pga77 presidenslot bighoki alexabet88 g200m m77casino mentari138 hoki178 olympus88 mega55 pga77 pga77 royaltoto panen77 pga77 garuda4d pga77 royaltoto sultantoto pga77 aksara4d arwanatoto bobatoto pga77 gacor88 m77casino 888slot 66kbet sritoto m77casino iramatogel mantra88 ajaib88 pga77 dewaslot88 pisang123 pga77 pga77 gas138 olx188 muara777 gacor88 dewaslot99 royaltoto pusat4d bos5000 pga77 888slot scatter-hitam pga77 sdtoto wis77 pamanslot meme4d diana4d prada4d neko4d angsa4d sinar777 brio4d pga77 okgas21 scatter-hitam slot-bonanza 98toto kingdomtoto direkturtoto rupiahtoto pga77 pga77 wongtoto akartoto kompastoto sultantoto gacor88 sumbartoto planet4d ngamenjitu 888slot royaltoto pga77 dorahoki pga77 pga77 pos4d djarumtoto kenzototo jejuslot mega777 royaltoto nirwana88 pga77 888slot pga77 pga77 palu4d royaltoto rogtoto omtogel Slot-Mahjong pga77 slot-demo pga77 slot-maxwin slot-zeus shitam sthailand pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 888slot pos4d pga77 m77casino pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 pga77 royaltoto sultantoto pos4d api5000 888slot pga77 pga77 m77casino pga77 pga77 pga77 pga77 pga77