The largest conference and expo in the world for the retail industry, NRF 2020 VISION, was an insightful three days this year, where attendees spent their time learning about the evolving innovations, consumer trends, and technology needs in the retail space.
Beyond incredible keynotes from the respective CEOs of Microsoft, Best Buy, and Starbucks, there were new and exciting concepts, technologies, and solutions galore.
As an e-commerce professional, there were in particular three recurring themes that struck me as incredibly meaningful which I’d like to highlight.
Before diving in, I’m first sharing a quote from Neela Montgomery, CEO of Crate and Barrel, that really resonated with me when I heard it:“be unexpected for your customers, whilst being true to your DNA”.
We live in a time where customer experience sets brands apart, so success is defined by how you provide those differentiated and personalized experiences while staying true to your company’s brand promises.
Interest in headless commerce solutions is surging, but some vendors are creating confusion about the technology. Learn what headless commerce really is – and what it's not.
In an exciting showcase that drew plenty of visitors, Valora, a premier central European-based convenience and food service provider, presented their new small format retail format: The k kiosk box.
These tiny convenience stores offer snacks, beverages, sundries, magazines, and more, and are 100% automated, with no checkout clerks (or lines) and consistently well-stocked shelves.
Initially planned for under-served locations in Switzerland – such as train stations – the technology behind these mini shops, known as NanoStore, was innovated by a Silicon Valley startup called AiFi.
The solution uses sensor fusion combined with artificial intelligence to enable the smoothest shopping experience possible, at any time of day or night. Customers gain entry to k kiosk locations using a mobile app, and AI algorithms handle tracking of their in-store actions, including product recognition.
While cameras will be used as part of this process, facial recognition will not, with algorithms instead using “anonymous” details such as hair and clothing color to distinguish one visitor from another, ensuring customers’ personal privacy.
Though Amazon may have been early off the block with the idea of automated retail with their Amazon GO stores, this is proof positive that this type of innovation is in no way limited to the behemoths of retail – or high tech – and that we can expect more options like the k kiosk popping up around the world.
And, the possibilities are endless when you think about deploying this kind of technology for fashion, electronics, books, or virtually any other specialty retailer.
Headless commerce was a consistently hot topic across NRF this year, and it’s easy to understand why. Even if you haven’t heard of headless commerce, you or someone you know has likely encountered it as a consumer.
For instance, if you own an Alexa-powered device and you ask it to order you a pizza or groceries, you aren’t communicating directly with Amazon’s digital commerce engine. Instead, a front-end Progressive Web App (PWA) is taking in your instructions and communicating with the back-end commerce platform through API calls.
The commerce platform then can access product content, inventory, billing and account information, or whatever else it needs to complete the transaction. The same applies when you purchase something within a social networking site or mobile app such as Pinterest or Instagram.
This is made possible because the front-end interface that you interact with as a shopper is decoupled from the back-end commerce platform. As more tech companies that offer e-commerce software develop these types of solutions, it’s a sure bet that more consumer-facing businesses – whether retail, direct-to-consumer manufacturers, or otherwise – will move in this direction.
The benefits of headless commerce to customers are obvious: more options, more convenience, and a better online browsing and buying experience across devices and channels. But the business benefits are many as well, since new storefront rollouts can be rolled out in days instead of months and can also scale independently from the back-end platform to handle traffic spikes.
It also means far less change management and maintenance for back-office developers. Basically, headless unlocks new levels of business agility while allowing brands to quickly and consistently deliver convenient and differentiated digital experiences to customers.
Customers tell brands what they want via actions, social media, and surveys – learn how headless commerce provides the flexibility and freedom they desire.
The idea of a fully realized omnichannel customer experience goes back a couple of decades at this point, but until quite recently the execution typically left something to be desired.
At NRF 2020, however, a number of technology companies – including SAP, Microsoft, Oracle, and Salesforce – showcased their ability to effectively collect and utilize customer data end to end to build a holistic, consent-based profile for each person.
This unified customer profile – built from data captured across multiple devices and channels and synced with marketing, commerce, sales, and service functionality – is precisely what makes a truly optimized, frictionless omnichannel journey possible.
The buzz around this type of analytics-driven solution (often times referred to as a customer data platform, or CDP) was palpable, as attendees flocked to learn what’s possible for omnichannel now and what’s just over the horizon.
With an intelligent ERP, a company can embark on a digital transformation strategy to set them up for the future of business – in five steps.
It’s an exciting time for the retail industry to be sure, with myriad new technologies certainly driving key trends. But, another thematic aspect of NRF that stood out to me was actually the emphasis on ensuring that in an increasingly automated world, we don’t lose the all-important element of humanity.
From the importance of a brand’s ethics and values on its bottom line, to the need to make even the most complex, data-driven customer journeys feel meaningful and personal, there was plenty of talk around how technology should be employed to bring more humanity, not less, to our daily lives.
