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FOCUS NRF 2022 : 10 trends for tomorrow's retail
After visiting the CES (Consumer Electronic Show) in Las Vegas, we visited NYC and the NRF’s (National Retail Federation) Big Show Conference with the HUB Institute. Despite being risky because of Covid 19, this visit was nonetheless very insightful!
On the dark side, many major exhibitors such as Adobe, Google, Microsoft, Oracle, Salesforce, SAP,... have cancelled their presence at the last minute. And like them, many retailers in NYC have definitely been smashed by Covid19 and the boom of e-commerce. In 25 years visiting NYC, I have never seen the Big Apple in such a KO : 90.000 inhabitants have left in 2021, 1/3 of New Yorkers were out of jobs in February 2021, the retail vacancy rate in popular shopping locations such as Soho or 5th Avenue is around 24%! The streets were empty, as well as shops or a mall like Hudson Yards. What a shocking bleak picture when you know the normal pace of NYC!
But on the bright side, there is another range of companies that survived and thrived for the past 2 years. First, a few agile retailers have been fast enough to deploy click and collect, digital in store, join marketplaces... or others have leveraged their community, bet bigger on storytelling, client service, creativity, sustainability... Then the tech players ranging from digital giants to startups and DNVB have exploded, boosted by the rising demand for ecommerce and its many possibilities.
There is one sure thing : commerce is not dead! But it is changing more and faster in a few months than in many years! Join us to discover how!