2022 PRA Magazine Retailing Magazine 1st Quarter Edition - Page 17

Retail ’ s big show at the big Apple :
Photo from nrf . com
Retail ’ s big show at the big Apple :

KEEPING AN EYE ON 2022

We have seen the full display of resilience in the retail industry for the last two years . Retailers around the globe improved their operations to better capture customers ’ interests , given the shift in the way people shop . With the global pandemic still ongoing , retailers manage to keep their businesses afloat and to thrive .
In forecasting this year ’ s retail trends , from reimagining the customer experience to virtual commerce , the National Retail Federation ( NRF ) conducted its biggest annual retail trade show last Jan . 16 to 18 in New York City .
The Big Show gathered 20,000 participants and 800 company exhibitors . Nothing could stop retailers and business leaders from gathering as we prepare and keep an eye for retail in 2022 .
It was a great opportunity to attend the world ’ s biggest retail show and learn from remarkable retail speakers .
Leadership in action
Here are a few of the best sessions from the featured Big Show speakers .
Visionary leader Brian Cornell , CEO of Target , emphasized the role of the traditional retail store in redefining the vision of the future .
Target ’ s efforts included launching a true omni-channel approach to retail by repurposing stores as fulfillment hubs during the pandemic , and encouraging leaders to focus on this transition . These steps led to spectacular growth for their company .
Tackling retail leadership in action , Walmart ’ s US president and CEO John Furner shared the values of measuring progress and partnerships as key to advancing sustainability initiatives .
He urged retailers to work together because trying to solve everything would be a daunting task .
Sumit Singh , CEO of Chewy , discussed the importance of balancing growth and customer-centric culture . Their company ’ s success was rooted in its commitment to customers .
Steven Williams , CEO of PepsiCo Foods North America , talked about the growth lessons . He believed in the uprising of the goodness of individuals and companies to make the world a better place for the community , the planet and the individuals .
Talking about reshaping retail with technology , Arvind Krishna , chairman and CEO of IBM , said innovative digital solutions are
necessary to solving retail problems . He urged retailers to accelerate digital transformation to establish new strategies in delivering value to customers .
Vivek Sankaran , CEO of Albertsons Companies , talked about how customers ’ expectations and satisfaction are driven by convenience , choice , and speed of delivery for grocery stores . However , the power and use of technology transcend enduring relationships and better service .
The presentation of Carla Harris , vice chairman , managing director , and senior client advisor of Morgan Stanley , focused on economic recovery , consumerism , and diversity .
Ralph Lauren president and CEO Patrice Louvet shared their company ’ s progress , concerns , and aspirations and focused on elevating the brand and investing in the momentum of opening stores throughout the world .
He said retailers need to be wherever the customers expect them to be and need to be there in a way that supports the brand .
Best Buy CEO Corie Barry tackled how to stay ahead of the curve amid the various shifts in retail . She said evaluating the landscape and pulling the appropriate levers for agile responses to new challenges can maintain healthy leads ahead of the competitors . She also shared that the way retailers care for their people is a central component to ensuring that the best experience is given to customers .
Trade show
During the three-day event , there was a simultaneous trade show which attracted the biggest players in retail , technology , and business .
One of the exhibitors is Aptos , the largest provider of enterprise software focused exclusively on retail . Aptos helps retailers develop dynamic and responsive assortments and deliver integrated experiences wherever shoppers choose to engage .
Since retail is poised for reinvention , Aptos unveiled its end-to-end retail technology solutions that create a seamless shopping experience to prepare retailers in transforming their businesses .
About the Author : Rosemarie Bosch-Ong PRA President , SEVP-COO Wilcon Depot
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