More than 40,000 people from more than 400 countries. More than 400 speakers in more than 200 sessions. These incredible numbers sum up one of the top events of the year in the Retail sector and the world’s largest convention and expo for retail companies. We are obviously talking about the NRF Retail Big Show 2023. An event attended by our CEO, Jonathan Solís. There, he has been able to review the main trends and drivers of the Retail industry today.
From this visit we draw two conclusions:
– Consumers have more power every day and expect more.
– Retail innovations are improving the shopping experience.
In the multiple presentations that took place at the NRF, the need for retailers to invest in technology became clear. And it is that it can help retailers fulfill the promise of intelligent retail by better understanding their customers, training their employees, enabling an intelligent supply chain and reinventing their businesses. Something that must be achieved with a better and more efficient use of data. 400 PB of data are generated every hour by retail. Data that, used well, can help achieve a 15% increase in conversion rate and a 10% increase in customer satisfaction.
One of the goals of the visit was to connect with peers and colleagues to discuss and analyze digital innovation in the industry and how we can take advantage of the latest technology to improve customer experiences. We were able to chat with interesting partners such as Aruba, Cisco Meraki or Axis, among others.
“Coming to this prestigious event is not only an opportunity for us to establish new partnerships but also an opportunity to present Flame Analytics as one of the world’s most innovative companies in the retail industry”, says Jonathan Solís.
Visiting the exhibitors’ area makes clear the growing use of image recognition technologies, drones and robots to support different operations in the retail sector. Technology to offer fluid and differentiated customer experiences, to achieve greater operational efficiency or gain flexibility.
One thing is clear: Businesses are increasingly turning to technology to improve sales performance, reduce waste and drive higher profit margins.