The traditional retail model that we currently know is about to undergo a major paradigm shift. According to an article on Retail Customer Experience summarizing “The Retail Revival: Reimagining Business For The New Age of Consumerism,” by RCE blogger Doug Stephens, big data, increased processing power, and hyper-connectedness will lead the way to a new digital future in retail.
Collaborative Thinking, Common Goals, and Co-Existence in Retail Central in Kofi Annan’s Keynote Address at NRF
This year’s keynote speaker at the National Retail Federation’s Big Show in New York City was former United Nations Secretary-General Kofi Annan. He addressed the crowd of over a thousand attendees with a message of peace and prosperity in a world of growing conflict and struggle.
The Merchandising Matters team traveled to the 102nd annual National Retail Federation’s Big Show in New York City earlier this week. This being our second year in attendance, we were excited to see what key trends evolved over the past year, what the new buzz words are in retail, and where the retail industry is headed in the next year.
Shoppers diversifying the way they shop for and acquire goods, becoming increasingly open to buying both online and in-store depending on their needs at time of purchase. While more than 80% of shoppers chose the store to make their last non-grocery purchase, only half are committed to returning there next time they buy.
The National Retail Federation on Wednesday said it looked forward to continuing to work with President Obama and the new Congress toward the goal of putting Americans back to work and ensuring that the nation’s economy remains the strongest in the world.
This week in London, leading retailers are gathering for the World Retail Congress. At the center of the conversation is how the empowered consumer, or the “I-Con,” is driving retail innovation.
A few years ago, it seemed department stores were becoming extinct, that there was no place for these bloated beasts of shopping past in today’s fast-paced, digital, 24/7 shopping environment. While the department store landscape has shifted, predictions of its demise couldn’t have been more wrong. For those players still on the field, the game has become one of the most exciting in retail for both industry observers and shoppers.
After 15 years in the industry working for what would be considered a competitor to NRF, I had the pleasure of attending my first NRFtech event last week. My attendance felt like a dawning of a new era at the venerable leader in all things retail. An era of more openness and community that in these days of hyper competition was refreshing.
From the distinct style to the bright-eyed employees with an encyclopedic knowledge of the brand’s products, shopping at an Apple Store is an experience all its own.
A growing number of shoppers are using their smartphones to help them make in-store purchases. According to new Deloitte research, smartphones currently influence 5.1% of annual retail store sales, translating into $159 billion in forecasted sales for 2012, according to new Deloitte research.
Retail businesses provide 11% of Moto Solutions’s total annual revenue, as part of the company’s “enterprise” division. So, increasing Moto’s sales to retailers can have a measurable impact on Moto’s growth.
The retail industry has long been chastised for not moving fast enough when it comes to technology innovation. Perhaps we are now making up for lost time as the industry has changed rapidly over the past ten years alone and retailers are investing in new solutions to keep pace.