NRF 2023: The Top Conversations Expected To Dominate The Conference
By Logicbroker | January 10, 2023
The biggest show in retail is rapidly approaching and as NRF discussions, meetings, and agendas are finalized, it’s important to be prepared for the conversations that will come to influence your time at the conference. eCommerce emerged from a tumultuous 2022 with a level head and high expectations, 2023 is shaping up to be an important, pivotal year for the world’s fastest-growing retail segment.
Here are Logicbroker’s most expected conversations and things to explore at NRF 2023.
1. Do More with Less
The most important conversation at NRF, and for all of 2023, will be doing more with less. Not only are organizations going to need to control costs in the coming years after exploding throughout the pandemic, but doing more with less applies to almost every other segment of our customer’s businesses. Retailers will need to do more with their employees, consumer base, distribution centers, stores, and eCommerce solutions all while maintaining or increasing their profitability.
NRF 2023 has over 20 discussions focusing on maximizing your customers and adopting new, innovative techniques to revolutionize the retail experience without compromising on costs. From discussions about off-price luxury to Walgreens transforming their forecasting models with AI, NRF 2023 is about how to deploy your capital strategically.
2. Customer Engagement
As companies explore cost-saving metrics, the most important thing retailers can discuss, explore, and evaluate is how to maximize the customers you do already have in your network. NRF 2023 has over 15 panel discussions focusing on the customer journey from Apple’s focus on AppleCare to leveraging the modern “hybrid” shopper. New metrics won’t be about new customers, but about winning over your customer at every touchpoint of the shopping journey.
Forging enduring and meaningful connections with customers that extend far beyond transactional interactions isn’t just a far-beyond concept any longer, as brands like LEGO, Brierley, and Kyndryl all will speak at NRF about how they’ve made a hybrid shopping model that allows their customers to engage with their products far beyond the expected engagement period. In a shopping age where it is becoming increasingly more expensive to gain new customers, having a concrete Consumer Experience Management system, partner, and eCommerce solution is paramount to success. Brands like Walmart and Target facilitate these experiences through rewards memberships and advanced inventory applications. The next big movement in retail will be retaining customers through experience management.
3. Excess Inventory
In 2022, retailers like Walmart, Target, and Kohls dominated the headlines with advanced eCommerce strategies designed to tackle their excess inventory. At NRF 2023, you can expect to hear a lot of discussions from top brands like Sephora and Lululemon on how they used technology like RFID or AI planning to crack the code on merchandise planning, budgeting, and inventory optimization management.
A healthy supply chain relies on visibility and as companies struggle to get a hold of their excess inventory, it becomes more important than ever to seek out an eCommerce partner like Logicbroker that excels at Supply Chain Experience Management (SCXM).
4. Risk Reduction
You can guarantee that NRF 2023 will be focused on how to avoid any and all risk associated with supply chain, inventory, and a looming financial recession. Ensuring your eCommerce solution remains recession-proof is the focus of dozens of talks at NRF this year but perhaps the unique way to tackle the challenge is through the use of innovative technologies. Companies are focusing on risk aversion through the use of AI, web portals, and even all-in-one eCommerce solutions to ensure that their marketplace isn’t at risk of collapse.
Risk reduction and cost reduction goes hand-in-hand, but it’s important to explore eCommerce solutions that not only provide unique partnerships but also create innovative avenues for cost reduction through white glove onboarding and seller support.
5. It’s Always About the Supply Chain
The pandemic put a microscope on a global issue that has percolated for decades… the ever looming supply chain. Throughout the pandemic items would go in and out of stock based on shipments, volume, plant closures, and much more. In 2023, and especially at NRF, it is vital to have conversations about how to secure your inventory and supply chain through advanced visibility techniques.
There are several talks focused on the supply chain revolving around the customer journey and even supply chain performance analytics, but the most important conversations will occur on the show floor. Dozens of organizations will be on hand to discuss how unique web portals, API-driven solutions, or analytics tools can help secure your supply chain, but seek out partners like Logicbroker at booth #1424 to discover how our white glove support and seller & supply chain performance tools ranked us as one of the top eCommerce solutions in the McFadyen Digital Marketplace Suite Spot Report.
So Much to See
Retails biggest show begins on Jan. 14 with an opening party and is in full force Jan. 15-17. Be sure to check the NRF 2023 Agenda and expo map before heading to the show.
Stop by the Logicbroker Booth
Logicbroker has always focused on helping retailers and brands navigate their supply chain challenges. Our B2B and D2C drop shipping, marketplace, and supply chain visibility offerings highlight our market-leading Supply Chain Experience Management (SCXM) all-encompassing eCommerce solution.
Logicbroker will be at NRF in full force at booth #1424. Be sure to stop by and discuss ways your organization can see a 500% ROI while reducing your FTEs with our advanced API-based platform. Logicbroker CEO Peyman Zamani will be attending, alongside SVP of Commerce Revenue Emma Cope, COO Brian Schmidt, Head of Partnerships Anthony Stames, and many more from our team.
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