Retail TouchPoints
successfully wrapped up its fifth Retail Innovation Conference
last week, and there was no shortage of insights shared throughout the
three-day event. The agenda included top-notch content, such as how to combine
iteration and innovation to build a disruptive retail experience; how next-gen
CEOs are approaching physical retail strategies;
and best
practices for AI implementations. The 500+
attendees left the event with plenty of inspiration that they could bring back
to their retail businesses.
The RTP editors
share insights into their biggest takeaways from #RIC19, and why they matter in
today’s retail environment.
Adam Blair, Editor: I had many positive
takeaways from #RIC19, including the wide variety of speakers delivering
on-target, relevant content; the exciting physical store experiences on display
at Hudson Yards; and as always, the attendees’ hunger for relevant information
(which we hopefully satisfied). But what’s staying with me right now was a
statement by Amy Shecter, CEO of Glamsquad, who was a panelist at
the Strategies For Strengthening Businesses By Empowering Women Leaders session.
At the session’s start, Shecter noted that the audience composition for events
with these types of titles are, almost without fail, 90% female.
(I looked around and confirmed that males were definitely in the minority in
the room). It’s great that women in retail can get practical advice on how to
make their voices heard in order to leverage their unique strengths. However,
the apparent lack of interest from men in what women have to offer was more
than a little disheartening. Guys: we have to do better.
Glenn Taylor, Senior
Editor: Since there’s always so much chatter regarding what Millennials are
doing (or not doing), it was refreshing to hear insights on the demographic
that subvert typical expectations. Kasey Lobaugh’s insistence that Millennials,
like all other generations, “behave
more like their income than their age” gets away from the typical
generalizations about the demographic, and shows that there’s still plenty of
nuance in how any generation is spending their money. It’s easy to narrow down
the Millennial audience based on statements like “prefers experiences over
things” or “have short attention spans,” but to tack onto what Lobaugh said, a
shopper living in New York City and a shopper from Louisiana are likely not
going to have the same shopping habits. During the same session, Doug Zarkin of
Pearle Vision offered comments that provided
additional refinements beyond income level, specifically toward marketers
trying to reach Millennials. With more purchasing options and information than
ever before, Millennials are forcing retailers to put greater effort into building
trust — a differentiating point that consumers of all ages are likely to
appreciate.
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Bryan Wassel,
Associate Editor: With all the talk about data’s roles within omnichannel
and its importance in delivering a strong retail experience, I was particularly
interested in Ruth
Crowley’s take on the subject in her Bringing
Innovation To Life To Create A 360⁰ Experience With People For People
session. Too often, the data itself is seen as the endpoint, instead of just
another tool that can be used to design a broader, more coherent experience.
Additionally, her acknowledgement that data “should not validate someone’s
opinion, but it should inform the process” stuck with me. She also noted that
no shopper goes home to their friends and talks about what a great omnichannel
experience they had — they are interested in that experience resonated with
them, not whether every piece of their journey was cleverly connected to
another part. Again, this was a reminder that all the buzzwords and technology
are just pieces of the puzzle, and they represent individual steps in the larger
process of creating a great customer experience. Even when we’re talking about
the latest innovations, it’s good to have a reminder that they are enablers — not
the end goal themselves.
