I’m back in London after attending NRF, the world’s largest retail conference in New York City, and I’m just now getting back to reality. Whoever said “retail is dead” is wrong. Throughout the three day conference I spoke with innovative retailers about their initiatives in 2019, the struggles they face, and the types of technology they plan to invest in. Let’s just say these retailers are not dying.
During day two of the conference, I spoke to a packed room with over 700 people about how there's really only two options for today's brands: innovate or die. I outlined the physical and digital divide many retailers are facing today and explained how, in an industry dominated by Amazon, it is essential to take advantage of the attribute that they do not have - staff and physical stores.
In this customer-centric era, human-to-human interaction is one of the most successful tools a company can use to create customer loyalty and engagement, which is something the Amazons of the world are lacking.
In my session I spoke about ways retailers can take advantage of the “failure zone,” which is the gap between physical and digital customer journeys. By realising the potential of physical stores and human-to-human interactions, retailers can drastically increase footfall by hosting in-store events and creating personalised shopping experiences. These interactions create loyalty, and in turn, increase revenue.
Watch my full session and let me know if you agree.