Taking The Lead: Ken Pilot on the game changing retail tech trends

Taking place in New York this week from July 12-13th is The Lead's Innovation Summit. Bringing together over 2000 people representing retail tech start ups, retailers and brands, it showcases the technologies that will help businesses in their growth strategies and stay ahead of the key changes. The World Retail Congress is pleased to be a media partner with The Lead.

To find out more, I caught up with Ken Pilot , founder and CEO of Ken Pilot Ventures who not only sits on The Lead 's Advisory Board but is very active in bringing together retailers and start ups. Ken also spoke at this year's World Retail Congress which took place in Barcelona.

Great to see you again Ken. To kick us off, how would you describe the mood in US retail at moment?

I think the mood in US retail right now is challenging. Everyone is trying to anticipate and understand where the business is going in the back half of the year when the first half has been challenging, if not down on last year. The mood is being shaped by many factors such as whether we're actually in a recession, less consumer spending and greater concerns around job security, even though the jobs market is hot in retail in particular.

This is intensifying the need for retailers to improve their retail capability and look at what new platforms they should go after.

You’re on the Advisory Board of The Lead which this week is holding The Lead Innovation Summit in New York.?The World Retail Congress is delighted to be a media partner for The Lead Innovation summit. Can you tell us a little bit about The Lead and also more importantly The Innovation Summit and what can people expect if they attend this week.

What I love about The Lead is that it is at the intersection between retail brands and innovative technology platforms. The discussions there really bring the two together to create the energy and the insight around what's possible and where retail is going.

It shows how retailers can leverage technology and many of the retail leaders that attend the conference will be sharing their experiences.

Which speakers or sessions are you looking forward to hearing from the most?

There are a number of vision talks that are very insightful in that they help the tech platforms better explain what they do to the many brands and retailers who are there. You will hear from retailers and brands about their experiences and what they see as being most important digital components to help drive their business going forward.

So if anyone is attending for the first time, what tips would you give them for getting the most out of the event?

There is such a choice of sessions that it is important to think about where the opportunities exist in your business to grow whether it’s online or in store operations and then use that as the filter for selecting which sessions you should attend.

I would look carefully at who the sponsors are and understand what they do or again figure out what I need and look at which sponsors cover those needs.

And then use the time well to build your network. There are over 2500 people that will be attending from a variety of retailers, brands and CPG companies, and it's just a great opportunity to meet new people.

?What technologies do you see really driving ecommerce on to the next level?

Well, AI is definitely the big topic right now. Retailers and brands should be looking at what AI platforms are out there that can help advance their business. There is also a greater likelihood of getting something with an AI stamp on it approved by the Board than you might versus another platform simply because Board members are coming to meetings pushing CEOs about what they are doing with AI and ChatGPT. It's really important that they are you doing so. CEOs have to have an answer because ChatGPT has demonstrated how AI is applicable to all of us.

The other important technology area is in looking how digital and physical can combine in store to create a more natural experience for the shopper. ?

Another important theme is around shoppable video and shoppable live stream. As you know, it's so important in the Far East, but really hasn't resonated here yet with customers or with retailers so I am looking forward to seeing how that develops and the discussions around that.

?Basically, I'm always in search of new technology and new ways to solve problems as efficiently and cost effectively as possible. Speed of implementation and a price you can afford is more important than ever.

Ken, that's great. Really interesting as ever. Thanks for sharing some time with me today.