[A look back at Shop.org 2017] | From taxes to today's consumer environment, see what NRF CEO Matthew Shay had to say at Shop.org 2017 | NRF Foundation awards 2017 Ray Greenly Scholarships
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Digital retailers and industry thought leaders from around the globe gathered last week to network and learn about the most important topics in e-commerce and digital retail at Shop.org 2017 in Los Angeles. This Shop.org SmartBrief Special Report looks back at the speakers, news and all the highlights from the show.
If you missed anything from the show this year, check out the Shop.org 2017 recap, which includes articles, photos, videos, presentations and more. And don't forget to sign up to continue receiving Shop.org SmartBrief in your inbox for free every day for more great content.
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Walmart's digital acquisitions and initiatives have soared since the company acquired Jet.com and put its CEO Marc Lore in charge of e-commerce. In his keynote from NRF's Shop.org conference in Los Angeles last week, Lore shares insights into Walmart's digital strategy.
Amazon's dominance in the retail world emerged as a major theme on the show floor, among exhibitor presentations and in sessions last week at Shop.org. Personalization powered by artificial intelligence and using tech tools to strengthen the customer experience were also trends seen throughout the conference.
Smaller retailers are more likely to find success by competing on brand and being true to themselves than trying to go up against giants such as Amazon and Walmart, industry experts said last week at NRF's Shop.org conference. "Part of it is creating the right culture, making sure you have the right time, making sure you have the right employees, making sure they have the right skills and making sure they're trained the right way," said Matthew Shay, NRF president and CEO.
China accounted for $700 billion of the $2 trillion in global online sales last year, and several of last week's panels at NRF's Shop.org 2017 focused on expanding into the fast-growing Chinese market. Chinese consumers seek authenticity as well as the best price, consultant Angela Kapp said, and retailers looking to do business there should embrace digital payment platforms such as Alipay.
Disney sees natural language processing, text to speech, image recognition and other artificial intelligence and machine learning technologies as the path to improving customer experience, Disney Chief Technology Officer Michael White said last week at Shop.org. "These tools have the power to change nearly every aspect of retail," he said.
Panera Bread's latest relaunch centered on using mobile and digital technology to improve customers' dining experience, executive Mark Berinato told attendees at NRF's Shop.org conference last week. Panera focused on personalization and creating an experience that was consistent across all of the chain's restaurants, he said.
Speed is key to keeping online and mobile shoppers engaged and getting them to checkout, executives from Target and West Elm told attendees at Shop.org 2017. Retailers can't control internet connection speeds, but they can employ some technological tricks to make delays seem shorter, said West Elm executive Luke Chatelain.
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Voice technology, artificial intelligence and augmented reality were hot topics at NRF's Shop.org conference, along with the future of virtual reality. Speakers also addressed the evolution and expanded use of data mining, the ubiquity of mobile and ongoing efforts to traverse the last mile.
Consumers have the tools to be in charge of the retail experience and retailers can adopt strategies to develop authentic relationships with the billions of shoppers who are now their bosses, said Kate Ancketill, CEO of GDR Creative Intelligence, at NRF's Shop.org 2017. Businesses should customize options to meet customers' needs, crowdsource ideas and practice transparency to win their favor, she said.
Pharmacy chain CVS Caremark dwarfs Thrive Market, a member-based natural and organic e-commerce startup, but both are focused on using the power of digital tech to connect with core customers, executives said at NRF's Shop.org 2017. "Consumers are very smart today and they are in control; they're voting with their dollars and driving massive change," said Gunner Lovelace, co-founder of Thrive Market.