Xovis professionals from near and far returned to NYC yesterday for the start of NRF 2023, Retail's Big Show and one of the company's favorite industry events. After a more subdued 2022 edition, this year's event is already proving to be an excellently diverse forum for connecting with new and existing partners, retailers and peers.
Break on Through
Recent years have seen an acceleration in the retail industry's embrace of in-store analytics and a closer look at what technology can best deliver on promises of accuracy and resiliency. Xovis has expanded its reach at each NRF appearance and was thrilled to see the renewed focus on innovation and omnichannel retailers at this year's event.
After wrapping up a challenging but rewarding 2022, Xovis is already starting what it hopes will be a "breakthrough" year. The retail industry is looking for tools to effectively respond to new and recurring challenges—recession concerns, labor shortages, automation growing pains, among others. Technology and solutions that can help manage costs while meeting rising customer expectations will continue to be in high demand.
“We saw this holiday, the first ‘almost-post-pandemic' winter shopping season, that consumers are back in stores looking for great shopping experiences,” Xovis Channel VP Anne Wyder said. “Retailers have weathered a few difficult years and are still dealing with challenges One of the most important lessons learned in that time is that with the right technology and data analytics, retailers can deliver what consumers want: a seamless, convenient and joyful experience. Data remains king in the industry.”
One of the most exciting events on the first day of NRF 2023 was a live demo presentation with Olivier Delangre, chief executive of retail analytics company Amoobi. One of Xovis' valued partners, Amoobi has tremendous success with helping retailers in more than 10 countries significantly increase conversion rates and revenue.
Using Xovis AI-powered 3D sensors, the company collects accurate sub-category and category data that different types of retailers can use to optimize space at their brick-and-mortar stores. The results from some of the projects the company has implemented are impressive, as detailed in Delangre's talk at Xovis' Booth 6721.
"We see a tremendous opportunity to further improve the customer experience in-store by leveraging this type of technology and our results prove that optimizing in-store space can deliver strong sales lift," Delangre said on the sidelines of the event.
Category management and merchandising optimization should continue to be hot topics in the future. The reason is simple: Brick-and-mortar retailers are more focused than ever on how to make the most of their physical space.
You don't have to walk far in the Javits Convention Center to see the buzz around the industry trends related to "phygital" retail. Not necessarily a new concept, phygital—a retail experience combining physical and digital features—is rapidly taking shape, with more Amazon Go-type seamless retail spaces set to expand in 2023.
Many retailers considering the phygital path are still looking closely at how to capture the rich, objective data the automated processes underlying the model need to perform reliably. In recent months, Xovis has observed an impressive increase in interest among retailers looking at how sensor-based solutions can help move the seamless revolution.
The next two days of NRF promise to be as exciting as the first, and all Xovis professionals at Booth 6721 look forward to learning and contributing as the week progresses.
Tags: | retail | nrf 2023 | customerflow | KPI | tradeshow