Our Senior Director of Client Success, Morgan McClure attended Shoptalk 2023 in Las Vegas with members of the Microblink Commerce team. Inspired by the increasingly integrated ways AI took center stage during the event, she’s sharing the top trends and takeaways from the annual event that brings more than 10,000 brands, retailers and solutions providers together.
AI and retail: two worlds that are quickly becoming intertwined. The intersection was front and center at Shoptalk 2023, where thousands of retail changemakers gathered in Las Vegas to explore the future and what is possible through the latest technologies, customer trends, and business models. But what exactly were the takeaways from the event? Let’s dive in!
The increasing role of AI in retail
Artificial intelligence (AI) is rapidly becoming a key driver of personalization, generative AI and customer service in the retail industry. Retailers are leveraging AI to create a unique shopping experience for each customer by tailoring products, marketing messages, and offerings to their preferences and needs. AI-driven chatbots and customer service tools are also revolutionizing the way that retailers provide support to their customers.
Short-format video: the new frontier of marketing
Short-format video emerged as a hot topic at Shoptalk 2023 with retailers recognizing the power of platforms like TikTok, Instagram Reels, and YouTube Shorts as conversion tools. By leveraging these platforms, retailers can connect with customers in an authentic and engaging way, creating a more personalized shopping experience.
Reinventing the in-store experience
Despite the growth of online shopping, physical stores are still very much alive and kicking. Retailers are investing heavily in their brick-and-mortar locations, creating agile and responsive in-store experiences that keep customers coming back. In-store experiences are becoming more important than ever, with retailers recognizing that customers want to have a unique and engaging experience when they visit a physical store.
A race to the doorstep
Online shopping isn’t going anywhere, and retailers are continually striving to deliver products to customers’ doorsteps faster than ever. Delivery solutions were a major focus at Shoptalk 2023, with companies like Shipt leading the way. Retailers are recognizing that fast and reliable delivery is a key factor in providing a satisfying online shopping experience. Our blog on three grocery store processes in need of an upgrade gives some insight on what could be holding grocers back from winning the doorstep race.
What’s next in retail?
As we reflect on the key trends and takeaways from Shoptalk 2023, it’s clear that the retail industry is on the cusp of an exciting transformation. Retailers are embracing AI, short-format video, in-store experiences, and faster delivery solutions to meet the changing needs and preferences of consumers.This transformation presents an opportunity for the industry to become more efficient, more engaging, and more responsive to the needs of customers.
With the help of AI, retailers can create personalized experiences that are tailored to each customer’s preferences, driving repeat business and loyalty. Short-format video is proving to be a powerful marketing tool, allowing retailers to connect with customers in an authentic and engaging way. And by improving in-store experiences and delivery solutions, retailers can provide a more satisfying shopping experience that meets the needs of today’s consumers.
Moreover, as the industry continues to evolve, retailers have the opportunity to create a more diverse and inclusive workforce, leveraging new technologies to create opportunities for employees that also drive innovation. By embracing new technologies in a responsible and ethical way, retailers can build trust with their customers, protect their data, and avoid any unintended consequences of their use.
In all, the future of retail is bright and full of exciting possibilities. Retailers who embrace new technologies will be well-positioned for success in a rapidly-evolving industry. By creating a more personalized, engaging, and inclusive shopping experience, retailers can build strong relationships with their customers and drive growth and success for years to come.
Morgan is a Senior Director of Client Success at Microblink. Connect with her on LinkedIn!
