Retail Trends From The NRF 2014 Big Show
posted by Stuart Cumming ~ 03/03/14
Category: Marketing
The recent Australian Centre for Retail Studies Breakfast Seminar gave lucky delegates a concise insight into a number of trends Dr Sean Sands identified out of the January 2014 National Retail Federation Big Show in New York.

In typical ACRS style, the emphasis was on practical examples rather than just theory.

On a macro level, principal among these were:
  • Omni-channel - successful companies will be those providing a true omni-channel experience, both digital and retail
  • 89% of retailers cannot link up online and in-store customer activities
  • 95% of mobile handsets shipped in 2014 will have WiFi capability
  • 75% of retail associates reported being able to deliver a better in-store experience when equipped with the latest mobile technology
In terms of 2014 Technology Trends, the ACRS identified:

Omni point-of-purchase - converting every product touch point into a purchase opportunity.

Adaptive personalisation - learn shopper preferences from previous activities to deliver a more tailored experience.

Contextual support - serve information to your customers where and when it is most useful.

Connected relationship management - help customers understand why they will benefit in sharing information.

Multichannel customer service - provide customer assistance on more platforms, with interactions on shoppers' terms.

Instantly verified - design payment platforms and services so that the actual transaction is more enjoyable and less of a disruption to the whole positive experience.

On-demand delivery - instant gratification also includes "how," not just "when." Get with OOPI (order online, pickup in store), OODT, shop window ordering (when the store is closed), in-fitting room ordering, just to name a few. Oh, and make sure you have your supply chain working efficiently.

Next generation experiences - retail uses digital to provide engagement and story-telling.

With 35000 delegates, the NRF Big Show is a must for all retailers. It is held each January in New York, details at the NRF website.
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