Last week, the ShopperTrak team set out for New York to meet with fellow retail enthusiasts and launch our new Advanced Analytics platform at Retail’s BIG Show #NRF16. After several days of great keynotes and sessions, retailer meet-ups, and walking the expo hall, we’ve put together our top takeaways from this year’s show:
- The age of multi-channel is over. Shoppers expect seamless integration across all media and touch points. Retailers must deliver reliable products and repeatable experiences across touch points that reach customers where they are.
Retailer leading the way: Levi Strauss & Co.
This American jeans and casual wear manufacturer is currently testing a new platform that tracks merchandise, creating greater efficiencies in monitoring inventory in real-time across channels and providing a better customer experience.
- Customer-centric retailers will win. Retailers must gain an understanding of customer needs and motivations and then create experiences that make them feel valued. New mobile, beacon and smart mat technologies will play a role in helping retailers achieve this goal.
Retailer leading the way: American Eagle
This leading global specialty retailer is using beacon technology to provide a better in-store experience through customized one-to-one communication (providing deals, discounts and product recommendations) and rewards for entering fitting rooms.
- Human interaction must blend with digital. Shoppers entering brick-and-mortar stores have more information than ever on available products, prices, and competitive merchandise. To drive added value, store associates must surpass the customer in product knowledge.
Retailer leading the way: True Religion
This designer apparel company recently launched an endless aisle solution via an Apple Watch app that arms sales associates with a powerful new customer engagement tool and unites the online and in-store worlds.
- Data, data – Everywhere. In the age of IoT, retailers likely have more data on store traffic, sales, merchandise and their shoppers than they know what to do with. Retailers who take the next step to visualize, analyze and apply the data to make decisions will see the largest gains.
Retailer leading the way: Johnston & Murphy
This premium men’s footwear and apparel brand is applying data to improve scheduling by aligning payroll dollars to traffic. In addition to offering better service to customers who walk into a store, J&M has achieved a 10% increase in conversion rate.
- Retailers must explore new ways to maintain momentum in a rapidly changing world. Loyalty will only be achieved through sustained engagement achieved through differentiated “enriched, personal, social, sensory and disruptive experiences.”
Retailer leading the way: Charming Charlie
This rapidly growing women’s contemporary jewelry and accessory retailer is continuing to build a loyal following of clients with a new enriched store concept. Their new 16,000 square foot, three-level flagship in New York includes a two-story, 30-foot tall glass facade, 20-foot tall double doors in the brand’s signature vibrant pink lacquer, and a classic residential-style interior that mixes feminine, mid-century accents with luxe materials.
Miss the BIG Show this year or want to hear more? Contact us to continue the conversation. Hope to see you there in 2017!