NRF 2020: Results that Innovecs Has Delivered
NRF 2020, the biggest retail conference in the world, took place on January 11-14th in New York at the Javits Center and brought together the best minds of the retail industry.
The conference provided insight into the retail industry, introduced new technologies, trends, and services. NRF 2020 allowed for networking opportunities and making new connections.
This retail big show featured over 400 top industry speakers, 40000 attendees, and 200 workshops and sessions. This year, the list of speakers included experts from companies such as Amazon, Alibaba, Microsoft, Ralph Lauren, Samsung, Mastercard, Reebok, Marks & Spencer, American Express, and others, and others.
Top Technologies and Solutions Introduced at NRF 2020
NRF 2020 covered a number of technological topics, provided the opportunity to participate in the debates with top speakers and share own knowledge in the industry.
Let’s discuss some of the most valuable showcases, technology trends to disrupt the industry, and new software solutions to boost customer engagement in detail.
AR Solutions to Engage More Customers
Immersiveness remains a hot topic in the industry allowing retailers to boost customer engagement and interaction with their services or products. This year, a number of companies introduced augmented reality products to be applied both in stores and warehouses.
Scandit, the leading provider of the enterprise technology platform for mobile AR and computer vision, in collaboration with Samsung, introduced a series of AR products for barcode scanning.
One of the applications built by Scandit aims to facilitate both employees and customers. Employees can apply it for scanning product barcodes and retrieving necessary data, while customers can get information about the product rating, compare it with other similar products, and add it to the cart.
Sure, AR solutions of this type are not new to the market. However, they remain significant triggers for retail industry development.
RPA to Enhance In-Store and Warehouse Workflows
Another focus at NRF 2020 was on Robotic Process Automation (RPA) which aims to enhance sales analytics, warehouse/store layout planning, data management, goods categorizations, etc.
One of the RPA solutions was presented by Zebra Technologies Corp. at NRF 2020. Its SmartSight robot is able to travel around the store, scan shelves with products, identify stock gaps, and inform a human assistant. They used the combination of computer vision technologies, ML, workflow automation and robotic capabilities.
Omnichannel Shopping Is Still in the Game
Erik Nordstrom, co-president at Nordstrom, stated at the conference that “More than half of store sales involve online and a third of online sales involve a store”. He added that customers always ask about possible channels they can use to interact with your store.
A satisfied customer is a customer who has options to choose from. This is why omnichannel shopping is still trending.
Also, Michelle Gass, CEO at Kohl’s, mentioned at one of the NRF sessions that the modern retail industry is actively moving from brick-and-mortar establishment models to a customer-centric omnichannel shopping experience.
Learn more about the benefits of omnichannel shopping in our article about retail trends in 2020.
Focus on Improved Supply Chain
During one of the sessions at NRF 2020, Adam Blair, the Chief Editor of Retail Touchpoints, discussed the importance of improving the supply chain.
He stated that 71% of consumers are willing to pay a premium for a luxury item if there is better traceability, transparency, and sustainability. This is where technologies can help to innovate and refresh outdated supply chains to achieve a higher level of customer satisfaction.
Summing Up NRF 2020 Results
Although Innovecs has considerable experience in the retail and e-commerce industry, it strives to keep up with the latest technologies that would help to realize our clients’ needs and deliver the best solutions.
This is why, Innovecs’ representative, John Colón Jr, VP of Sales – North America, did not miss the opportunity to attend such an event.
Our company specializes in developing and delivering high-quality retail and e-commerce solutions. For example, we developed a digital printing marketplace for a global provider of printing services. Innovecs’ team was responsible for the full-cycle development of the B2B printing marketplace, including UI prototyping, development of the website, and implementation of new features based on the client’s requirements.
If you missed NRF 2020 but want to know more about upcoming trends in the industry or receive expert consultation, feel free to contact John via email: firstname.lastname@example.org