This is how we saw it just a few months ago.
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As we dive into 2021, one thing is certain: retailers must continue to move quickly in their digital transformation and be ready for change. Our Product Director, Stuart Lynch, attended NRF 2021 Retail's Big Show over two full weeks. Below, he shares his insights on what retailers must consider to fuel customer engagement, brand loyalty and growth in 2021.
IT WAS GREAT HEARING FROM THE BEST RETAILERS IN THE WORLD and how they are adapting to all of the change and unprecedented challenge that the last 12 months has brought to the industry. Five years of commerce transformation has happened in 8 months, because it was necessary to meet consumers where they are.
Just a quick note on NRF, or National Retail Federation, the host of this massive event. NRF is the world’s largest retail trade organisation. It’s based in the US, where retail contributes $3.9 trillion to the annual GDP. This year’s show was obviously not a live event because of Covid-19, but it was big nevertheless - as in very big. More than 330 speakers participated in 100 sessions to share lessons learned from the past year and thoughts on the optimistic road ahead.
The themes and subjects discussed in this event vary a lot, obviously, but I would like to share with you some of the most pressing and interesting issues that need to be addressed now. And, if reading this makes you wonder how your business is coping with agility, a strong technology foundation, hybrid workforce, connected commerce, and more, please get in touch with us. We are addressing these issues every day with retailers of different sizes. We could help you, too.
Marvin Ellison, President and CEO of Lowe’s.
Actually it is an almost impossible task to select specific subjects and leave other subjects with no comments. Retail is a really complex industry which demands quick decisions and yet informed decisions all the time. This was reflected in a more general spirit during the talks at NRF 2021: Everybody wanted to put focus and strength into radically accelerating the pace of their digital transformation while at the same time having to deal with the complexity of the everyday challenges of the pandemic.
One topic I took a special interest in: Social Commerce. And I will dedicate a separate blog to this, and let you digest the take-aways served above. If you want to know how Encode supports the nine different topics discussed in this blog, please reach out to us.