At NRF, the future of retail runs on data and insights
Customer Strategist Journal
Empowering CX leaders with actionable intelligence. from the combined thought leadership of TTEC and 1to1 Media.
Welcome to the latest issue of the Customer Strategist Monthly, a deep dive into trending customer experience topics. I’m Liz Glagowski, Editor-in-Chief of the Customer Strategist Journal.
Walking around the National Retail Federation’s Big Show in New York City last week, one thing was clear: brands are passionate about using data and insights to know customers better and improve CX. Now that AI has become table stakes, conversations have evolved from focusing on the technology itself to finding the best ways to harness its power.?
At NRF, the future of retail runs on data and insights
By Cara Rosner , senior editor
With more technology and insights at their fingertips than ever before, retailers are diving into their data to learn more about customers so they can deliver better, more personalized shopping experiences.
Harnessing the power of AI-generated insights, offering hyper-personalized customer experiences (CX), and tapping into the buying power of Gen Z were key themes at the National Retail Federation (NRF) Big Show this month in New York City.
There was little discussion about AI as a technology at the event, which marked a change from recent years. By now, many retailers have integrated AI into their CX and don’t need to hear about its many benefits; they’re already witnessing them first-hand.
Instead, conversations focused on how brands are using AI and putting its insights to work. And some were already looking beyond AI and trying to gauge what the next “big thing” in retail technology might be.
Technology as a tool, not an endgame
Personalization was a hot topic at NRF as customers expect shopping experiences to feel tailored to their unique needs. Many companies spoke about harnessing the power of data to better understand customers’ habits and preferences. AI is playing a key role in efforts, but retailers said tech alone won’t drive the results they need.
“Technology is not the solution,” said Martin Urrutia, head of global retail experience and innovation at The LEGO Group. “When it’s used in the right way, it will only amplify what we’re doing [elsewhere].”
Technology will never replace the human interaction shoppers crave in certain moments, he said.
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Ikea Chief Sustainability Officer Javier Quinones agreed, saying the home furnishings retailer is “extremely cautious” when exploring AI and other emerging tech. “Technology is not there to substitute; it’s there to support.”
For more on NRF’s Big Show, check out our blog here.
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