NRF Retail’s Big Show 2024 Recap

By: Tara Amalfitano, Senior Director, Communications Planning, OMD USA

NRF isn’t just a trade show; it’s a transformative experience consistently delivering enduring insights and connections. More than a platform to thrive in the retail business, it’s a gathering where the industry’s changemakers converge to share bold ideas, witness cutting-edge innovations, and foster the connections that stand the test of time. 

In a world marked by uncertainty, those who take meaningful action now will script the next chapter. This year’s NRF Expo proves to be a gateway to inspiration, connections, and actionable insights. 

Whether you’re a startup or a legacy retailer, those looking to win big & make it matter, make it to the Expo. 

NRF by the Numbers: 

• 16,000+ retail professionals 
• 50,000+ attendees 
• 6,000+ brands represented 
• 1,000+ exhibitors, 100+ curated sessions led by 170+ industry experts 

The Future of Retail. 

Immersed in the largest marketplace, where learning about what was next wasn’t enough – you lived it. The NRF 2024 Expo brought the future of retail to life, offering new insights, products, and experiences shaping the future of retail. 

So, How Do Brands Navigate the Retail Evolution?  

In the ever-changing world of retail, five prominent themes emerge, shaping the industry’s trajectory: placing consumers at the center, leveraging technology for human connection, facilitating frictionless experiences from virtual to IRL, redefining the future of loyalty, and maintaining a keen focus on brand equity building. 

1. Consumers at the Center, Wherever They Move.

In a landscape saturated with emerging technologies, the prevailing theme across all retail brands is the enduring importance of human connection. Whether it’s Glossier disrupting the beauty category or Saks emphasizing innovation, the common denominator is the relentless focus on the human connection. “Every brand wants to ensure that consumers have the best experience of the brand. But what does that look like? It’s newness… Innovation is what drives this industry”, said Saks CEO Marc Metrick.

The speed at which consumers are moving forces brands to constantly adapt and question their value proposition. Glossier’s CEO stresses the importance of listening to your consumers, “We open the floodgates for feedback… extensive social listening and dialogue is what allows us to act quickly, continue to raise the bar and drive the success for our brand.”  

To maintain relevance and stay ahead, brands must relentlessly ask themselves how they can show up where their consumers need them to be? 

2. Tech as an Enabler to Human Connection. 

Brands like Ulta Beauty and Macy’s exemplify technology as a facilitator for human connection, expressing how emerging tech has allowed for exceptional levels of customization to break through generalizations. Ulta, encountering 2,000 brands annually, utilizes technology to stay fresh by processing & incorporating consumer feedback faster. AI transforms the retail-customer relationship, unleashing business constraints through data-driven personalization at scale. But have we reached a point where we are teching for tech’s sake? 

Dominos showcases a delicate balance in integrating technology, emphasizing data utilization and personalization while approaching AI cautiously to ensure tangible benefits for consumers. The powerhouse pizza company has used revolutionary tech at the core of its success but ensures it’s all in the effort of being where the consumers are with their balanced approach to ‘revolutionary vs. evolutionary’ strategies. “We will always have a certain level of disruption where we can, but it’s equally important and often not talked about to evolve our current platforms that create a better user experience, i.e., relaunching our rewards program that allows customers more choices or faster ordering… I want to win at providing them the most value as possible, and it’s not worth sacrificing that just to add the new shiny object.” – VP of Digital Experience & Loyalty at Domino’s Pizza. 

3. Frictionless Virtual to IRL Experiences. 

The speed of adaptation isn’t confined to the digital realm; it’s equally crucial in translating experiences into in-person interactions. Despite their digital fluency, the commonly misunderstood Gen Z consumer craves in-person buying experiences. Brands are challenged to flawlessly merge virtual and in-person elements. 

For H&M, they are prioritizing the seamlessness across the two to round out the consumer journey. “This audience wants those in-person connection points; they seek community, but they expect the same experience & personalization they have on digital. From the marketing and in-store tech (virtual try-ons, Spotify playlists that change based on which store you’re in) or even the investment in our sales team that’s super knowledgeable on the latest trends – it’s the attention to detail, the 1:1 connection and collecting/using consumer data to our advantage that separates brands and brings the IRL experience to life.” 

4. The Future of Loyalty. 

Loyalty is no longer just transactional. Yes, traditional sales tactics like discount codes and coupons still work, but they have quickly extended into non-transactional realms to keep up with evolving retail expectations, particularly with the Gen Z demographic. A study conducted by tech company Superlogic suggests that 61% of brand purchase decisions happen outside of the brand’s platform or rewards program. Loyalty programs must shift from traditional approaches to accommodate consumers’ information overload.  

From AI in customer service chats to gamification and social elements to sneak peaks into new collections to adapted search experiences, both heritage to challenger brands are investing big in amping up their loyalty strategies, with personalized consumer experiences at the core. But how do brands make loyalty programs sticky? It’s important not to forget the basics. Simplicity, convenience, value, and product quality are table stakes for the best customer experience – the added bells and whistles set brands apart. 

5. Keeping an Eye on Brand Equity Building. 

In the unprecedented speed of business growth, exemplified by Beis, a top-selling luggage brand on Shopify, creating a category within a traditional category is essential for success. Rooted in a strong disruptive mindset and ethos, Beis thrives by drawing inspiration from outside the category – fashion, music, and beauty. Yet, in the pursuit of growth and adaptation, brands must not lose sight of brand building.  

Disruptive inspirations from other categories should be balanced with a commitment to core values. Smart partnerships, as seen with Drew Barrymore’s Beautiful Collection, extend reach while aligning with shared values. The brand’s success lies in purposeful collaborations that push brand boundaries without compromising its mission of fostering human connection. The emphasis is on saying no when necessary, ensuring that partnerships contribute positively to brand equity. 

Retail Recap 

The retail landscape demands a strategic and nuanced approach that revolves around the consumer. Placing consumers at the center involves understanding their dynamic needs and adapting swiftly. Technology, while a powerful enabler, should be approached cautiously, ensuring it enhances the human connection rather than overshadowing it. Seamless experiences from virtual to in-person and the redefined future of loyalty underscore the industry’s need to evolve. Finally, the focus on brand equity reminds us that, amid innovation, staying true to core values is paramount. Navigating these themes requires continuous innovation, iteration, and a commitment to consumer-centric strategies. By embracing these principles, brands can thrive in the competitive and ever-evolving retail arena.

Tara Amalfitano

Senior Director, Communications Planning, OMD USA