The NRF Big Show and events all around it were abuzz with today’s technology leading topics — artificial intelligence (AI), retail media networks and all things digital.
That was no surprise for attendees at this year’s RetailROI Super Saturday event, including convenience leaders from Love’s, Kwik Trip and Vision Group Network. They heard that AI has been around retail for a long time.
On a similar note, the connected digital experience in retail was described as “tablestakes” by PepsiCo’s John Phillips, senior vice president customer supply chain and go-to-market. Given these observations, there were many related but other insights shared throughout both big events that retailers have on their minds and solution providers look to help solve as 2024 begins.
Training and ensuring teams have the skills they need to “enable” the customer experience and to move AI even further ahead need to be at the forefront. To many, this means paying close attention to change management approaches, educating your board and company leadership to get their support on investments and simplifying the onboarding process, including training — as Carter’s chief information officer Ben Pivar told attendees they’re spending time on.
People remain key to the in-store experience. Leadership needs to “bridge” what’s happening on the shop floor, according to Jenna Posner, chief digital officer, Solo Brands. They need guidance, not instruction, and to be allowed to be curious. Nike’s approach on the DEI (diversity, equity, inclusion) front is also thinking about it from a perspective of looking for skills differences as you build teams. And let the teams know it’s okay to lose, and just because you win doesn’t mean there is no room for improvement — Posner suggested employing a “retroing” process.
At Mars, they’ve put the new Microsoft AI tool, Copilot, to use to minimize the months it took to get alignment from business leaders to IT developers in order to implement systems efficiently.
Data remains what tech experts say must be foundational to all new initiatives: Data mapping of disparate data, getting to the source of truth in the face of business silos, creating value by integrating first to second and third-party data. It’s not until you reach a point of maturity with data that you can rely on analytic tools to provide insights, cautioned Dollar Tree’s Giancarlo Fiorarancio, vice president of store and omnichannel technology.
Around the show floor was plenty of evidence of convenience retailing becoming a stronger retail segment competitor and threat. The Food Service Innovation Zone had a section called the “more convenient” convenience store, with solutions from consumer goods companies to workforce solutions. There was an autonomous store that Denver-based Choice Market announced during the show they’re committing to.
Robert Hampton, vice president of technology and innovation at Jacksons, joined a panel discussing ways technology is being deployed to reduce risk and improve safety. From major oil companies to regional operators, and consultants to convenience industry solution providers not exhibiting, all agreed innovation to deliver convenience across retail channels was a key takeaway to keep an eye on as others keep looking for a competitive edge. And likely a first for the Big Show, a fuel pump on the show floor in the Verifone booth.
A team from Conexxus spent time on a curated tour of exhibitors. Their Innovation Research Committee led members and friends to see newfound solutions from long-time industry suppliers Acumera, Hughes and NCR, now NCR VOYIX, to start-ups Advertima and Wink. Agilence, GK Software and PaytestLab rounded out their visits.
Without question, looking beyond the buzz needs to be a priority to advance initiatives like AI and other convenience-focused innovations in order to stay ahead.
Ed Collupy, president at Collupy System Solutions, LLC can be reached at [email protected]. Collupy provides strategic, operational and project leadership to groups and organizations through a variety of engagement formats, along with retailers, emerging businesses and technology companies.