Download - NRF in an Hour
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NATIONAL RETAIL FEDERATION BIG SHOW
January 15 – 17, 2017 — New York City
35K
510+
300+
Attendees from
around the world
Exhibitors at
the EXPO
Speakers conducting
over 100 sessions
200k Square feet of
exhibitor space
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INTERESTING THOUGHTS
2% Growth any share
that is being taken by a
retailer is coming from
another retailer
$1.8T of sales is
influenced by digital
2016 Holiday Traffic
down 7%
Customer service
expectations are being
set by digital, not by
the store
Product is making a
comeback as a key
shopping differentiator
Stores remain the king
of transactions – online
is still more about
inspiration
WINNERS ARE:
• Integrating
experiences –
no online/offline
thinking
• Leveraging
customer data in
meaningful ways
• Creating
compelling
reasons to return
to the store via
product
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THEMES OF NRF 2017
Technology /
Innovation
Investing
in People
Customer
Experience
Data and
Analytics
TECHNOLOGY / INNOVATION
Augmented Reality, Robotics, On-Demand Manufacturing, and many other
technologies will shape the near future of Retail.
CUSTOMER EXPERIENCE
Whether it’s honing in on what your customer really wants, adapting to
changing customer priorities or creating an unforgettable, personalized
experience, the customer will rule in the future.
INVESTING IN PEOPLE
Building great brands begins with hiring great people who are invested with
you. Equipping new retailers with the right skills to succeed will raise the
bar for all brands and improve the shopping experience for the customer.
DATA AND ANALYTICS
Data is everywhere in retail. Finding it, connecting it, and understanding it
is key to differentiation both in the online and offline space.
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WHAT ARE YOU MOST INTERESTED IN?
VALUE TO MY COMPANY
DE
SIR
E T
O E
XP
LO
RE
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TECHNOLOGY AND INNOVATION
Driving mobile sales and
supporting efficient
pick/pack ship using
augmented reality and
glass technology
Augmented Reality Virtual Reality
Artificial Intelligence /
Machine Learning Robotics
From Virtual Stores to
Store Planning, VR is
coming into it own as a
tool for retailers to drive
efficiencies
AI and ML will help with new
product testing along with
enabling real-time out-of-
stock tracking, point of sale
targeted digital advertising,
and automated check-out
From Greeters to Inventory
Management to Pick/Pack,
robotics will be a major trend
in the coming years to
reduce cost and improve the
customer experienceAugment
Claire
Focal
Systems
Pepper
Tally
Intel ShopperMX
Alibaba Virtual StoreRecon Jet Pro
Right hand Robotics
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CUSTOMER EXPERIENCE
• Communicate like a friend rather
than a brand
• Mass customization
• On Demand Manufacturing
Customization Compelling in-store experience Catering to digital natives / Gen Z
• Store as a destination
• Bonfire effect - Communal
Brands
• Younger consumers are more
open to change
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What does it mean for me?
• There are many ways to enable some level of
customization.
• More and more customers are going to be
looking for ways to make products unique
CUSTOMIZATION
Customers are looking to express their individuality
and customization allows them to create a product
that is uniquely their own
How to enable?
• Mass customization
• On-demand manufacturing
• Tailoring communications
• Leveraging data
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What does it mean for me?
• Make your store a destination
• Be human
• Build experiences that align
with your brand
• Focus on authenticity
• Create a bonfire experience
o Solutions
o Meaning
o Experience
IN-STORE EXPERIENCE
Store as a destination
• Give your customers a reason to shop in stores. As customers are more
comfortable shopping online, they need more compelling reasons to visit stores
• Create surprise and delight
• Bonfire effect
Bonfire Effect
Kellogg’s
& Sonos
Samsung
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What does it mean for me?
• Test new technology
• Find ways to enable
responsiveness
• Focus on service
CATERING TO THE DIGITAL NATIVES / GEN Z
• Still want to shop in-stores
• Open to change, more likely adopt technology
• NOW!
• Crave simplicity
• High expectations for service
• Frustrated with Digital immigrants
• Younger generations want brands that reflect values and “stand for something”
Who are digital natives Gen Z? <30 year olds, born into a digital world
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INVESTING IN PEOPLE
• Rise Up Initiative
Training, development,
credentialing program. Starting
with Retail Industry
Fundamentals, planning to
expand to additional levels
• Changing jobs
o Data / Analytics at Macy’s
o Social Influencers
Investing in People Richard Branson: Retailers need to start thinking like Entrepreneurs
• Praise often
• Look for good
• Don’t overcorrect, give leeway to make mistakes
• Be a good listener
• Take action on items/issues quickly
• Be attentive to small details
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Sponsor Sampling
(Not exhaustive)
• Macy’s
• Neiman Marcus
• Target
• Walmart
• Disney
• HSN
• Under Armour
• Wendy’s
• Vera Bradley
• William Sonoma
• Ashley Stewart
• Brooks Brothers
• Disney
• Home Depot
• Container Store
• Kroger
• LL Bean
• Lowes
RISE UP PROGRAM
• NRF, with the support of major national retailers, founded a program for specialized education
and credentialing
• Demonstrates the value of retail careers and gives participants an advantage in landing jobs
• Assistance to the retail industry in overcoming skills gaps, keeping up with advancing
technology and attracting and promoting talent
The future isn’t WHAT it’s WHO
LINK
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DATA AND ANALYTICS
Retail in the 21st Century means
that the retailer anticipates the
need of the customer before they
need it. Data is critical to
understanding the customer and
driving a seamless experience
To influence and enhance the
customer experience
To improve operations
and assortment
To serve up the best marketing
to the right customers
Having the right product, well
stocked in the right store is still
the key to the success of a
brick-and mortar retailer. Solid
data and advanced analytics
can be a key differentiator to
ensuring product availability and
drive new product placement.
Technology is more prevalent
than ever in influencing
purchases of the consumer.
Retailers must utilize the data
available to them to drive new
and interesting messages to
consumers that are personalized
and compelling
Data is the New Oil – Information abounds but the trick is determining how to best use it to drive sales.
Three ways that data will be used in the near future are:
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• Understand the data and
using the knowledge to
communicate to the
customers
• Know the customer well
enough to offer targeted
offers
• Utilize data and insights to
target future investments
• Listening to the customers
data can drive retailer into
new businesses
DATA DRIVES THE CUSTOMER EXPERIENCE
• Data is being shared at every moment of the retail experience
• Most customers have used data before they enter the store
• Retail environments produce massive amounts of data
• Things and Devises capture the data – they are connected now – and the
power of the data is unleashed
• Data can be collected and analytics can be applied – AI and Machine Learning
• The data can be driven into insights and interpretations that drive predictions –
almost any behavior can be predicted with the right amount of data
Example: Game Stop
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• Understand the data and
using the knowledge to
communicate to the
customers
• Know the customer well
enough to offer targeted
offers
• Utilize data and insights to
target future investments
• Listening to the customers
data can drive retailer into
new businesses
LEVERAGE DATA FOR OPERATIONAL AND MERCHANDISING OPPORTUNITIES
• Leverage POS Data to
understand trends
• Look for anomalies in the
data that point to
opportunities for Operational
improvements
• Look for patterns in the data
that point to Merchandising
opportunities
POS Data Utilization
• Gather Inventory and Sales
data utilizing technology to
understand true state of
inventory in the stores
• Leverage AI and complex
algorithms to predict need and
sales
• Provide real-time actionable
data to Supply Chain and
Operations for changes to the
store environment
Sales and Inventory Data
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• Identity is the core of
Personalization – Retailers need
to work to stitch together customer
data, device data, and store data
to fully understand the customer
• Data is key to:
o Observe – understand
customer preference
through online and in-store
actions
o Act – apply heuristics and
algorithms to tease out
opportunities to help the
customer
o Remember – make the
experience constant, not
separate interactions
• Customer relevancy is key to
personalization – use the data on
hand about the customer to
provide the right messaging to
them based on where they are and
what is going on now
DRIVE THE RIGHT MARKETING MESSAGES
• Personal algorithms are being used
by consumers so we may be moving
to selling to the algorithms rather
than direct to the consumer
• Moving from screens where we
actively engage to make a purchase
to sensors that know us and drive
demand
• Shifting from marketers in control
because there is active involvement
by the customer, to algorithms in
control because the customer is
passively involved
Ads driven from actions
Ads driven from better
customer knowledge
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WHAT’S AHEAD FOR [INSERT CLIENT NAME] IN 2017?
More focus on Customer
Experience?
Technology and Innovation?Provide customization options?
Data / Insights? Talent Management Employee
Experience
believe to be most relevant to them. Feel free to
update headers and images to match their specific
strategies/priorities/needs/programs
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BART DEFOOR
(770) 883-4349 (c)
FOR MORE INFORMATIONFor more information about this
presentation or NRF 2017 please reach out to:
ALISSA MOREIN
(772) 696-0003 (c)
[INSERT LOCAL RESOURCE]
(123) 456-7890 (o)
(123) 456-7890 (c)
Please include a local resource contact or delete
the dummy information for resource 3
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BART DEFOOR
(770) 883-4349 (c)
FOR MORE INFORMATION
For more information about this presentation or NRF 2017
please reach out to:ALISSA MOREIN
(772) 696-0003 (c)
version only
JENNIFER MERRITT
(678) 488-2028 (c)
TOM MURPHY
(480) 323-5491 (c)