Technology Key to Who Succeeds in Retail
The NRF Conference & EXPO offers retailers a platform to meet new people and form innovative collaborations to create business-changing connections. NRF 2019 was no exception. Last week, RPE had the privilege to meet with retailers to discuss their challenges and needs for the coming year. With retail sales that have grown almost 4% annually since 2010, retail is alive and well.
From an RPE perspective, here are a couple points we took away from NRF 2019:
Technology is the Pathway to Success
Traditional retailers need non-traditional solutions, online sellers are looking for offline presence and start-up retailers need scale. While retailers have diverse challenges, they have one thing in common: They want to transform themselves and see that technology is what will guide them to success.
Preview of JDA MMS User Interface
JDA MMS customers were impressed with the preview of the new JDA MMS User Interface. With capabilities that transforms green screen into modern and intuitive web pages, mobile and tablet browser access, drop downs to provide easier selections and auto-complete search fields, retailers received a quick glance into this new and innovative user interface.
Unified Commerce Remains Top on the List
Ensuring a smooth information flow, in real time, across all channels, so everyone works with the same information remains a hot topic for retailers looking to achieve unified commerce. Online sales currently make up less than 10% of total retail sales but continue to challenge retailers as they work to integrate channels.
Leveraging Data Intelligence
Artificial intelligence no longer falls under the heading of emerging technologies. Intelligence-enabled platforms are now capable of delivering customer-centric insights, helping retailers tackle inventory challenges and provide the necessary data to support optimal pricing strategies. Investments in business intelligence can result in increased revenue and better customer experiences.
With several executive level clients attending, RPE connected these decision makers with their counterparts at companies experiencing similar challenges. When different voices come together, lessons are learned and new ideas are ignited.
In reviewing NRF 2019 recap articles from analysts and media, these quotes grabbed our attention.
“Retailers are seeing their investments in technology, digital, experiential shopping and the supply chain begin to pay off, enabling shopping to flow seamlessly across channels from in-store to online.”
“Disruption is one constant, but that’s been true of the retail industry for years. We live in an age of immediacy, and it has prompted rethinking every single part of the business.”
“The so-called ‘retail apocalypse’ is a myth of the past – today retail is growing as brands attempt to attain consumer loyalty via multiple touch points throughout the consumer journey.”
The RPE team returned from NRF energized and excited to engage in more detailed discussions with retailers on their specific challenges and needs for this new age of retail. Contact us today at firstname.lastname@example.org to let RPE know how we can assist you.