NRF 2020 Focuses on Simplification: Shifting to the Practical "What Is" from the Theoretical "What Could Be?"

NRF 2020 Focuses on Simplification: Shifting to the Practical "What Is" from the Theoretical "What Could Be?"

  • February 2020 •
  • 6 pages •
  • Report ID: 5866884 •
  • Format: PDF
This IDC Perspective provides the key takeaways from the NRF Big Show 2020 event held in New York City.Retailers at NRF 2020 were getting down to brass tacks with a pragmatic and holistic approach to business, intent on transforming their operations to be streamlined and integrated with a goal of achieving agility and visibility. As they move toward digital transformation, they are looking to benefit from that connectivity with edge technologies such as AI, AR/VR, camera vision, RFID, 3D, and IoT that enable them to move ever closer to the customer, at the store and online, to better understand and thus delight the customer -- profitably.This IDC Perspective identifies several core trends and enablers of this transformation, yet it is important to remember that a retail enterprise cannot be built on just any one of these components. They all must be brought together in a unified field that accounts for the complexity of the components but also works toward the simplification of the whole."You might say retailers are in the midst of a race for their 'lives' alongside consumers and supply partners -- one of which fuels the engine while the other makes running it sustainable," said Leslie Hand, GVP, IDC Retail Insights. "The great news? By and large, retailers have a great race plan, built on a new understanding of the value of the store in an omni-channel enterprise and of the workforce in delivering perfect experiences across it. And the work of executing this -- of individual retailers creating a new and integrated version of their businesses -- is well underway."
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