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In his keynote presentation, NRF President Matthew Shay said, "the Big Show has become a technology show." That’s because, in the years to come, strategic technology investments will enable retailers to serve their customers in new ways. We got a preview of some of the transformations to come in the Retail Innovation Hub and on the show floor.
In the coming year, more retailers will invest in:
Turning their in aisle signage into valuable ad real estate with electronic shelf tabs fromInfortab.
Fit technology where consumers can self measure from home, without the scale. Check out Proto Hologram’s slot on The Ellen Showto see this tech at work!
Immersive gaming opportunities that drive traffic by helping customers have fun.
Facilitating a40% shorterproduct development cycle through real time collaboration technology.
Engaging customersin the metaverse, where retailers can create new digital assets, virtual stores, and showrooms for a fraction of the cost.
“Every single day, the customer changes.” - Kroger CEO, Rodney McMullen
NRF is all about retail. We saw the influence of experiential retail in how exhibitors structured their booths, the holographic technology on the show floor, and the innovative ways that retailers are engaging customers in the metaverse. From life-sized Jenga games to arcade style booth set-up, from in-booth espresso and cookies to full grocery store mockups to demonstrate technology, The Big Show gave us a taste of what’s to come in 2023.
“I am much more interested in providing value for loyalty than just throwing money away transactionally.” - Petco CEO, Ron Coughlin
So, what’s to come? Expect retailers to double down on creating immersive, memorable experiences with an element of nostalgia. Anything that lets consumers be kids again, even for a moment, will drive tangible ROI in 2023. Take, for instance, the Illusion Art that encouraged NRF attendees to take selfies on the show floor. And the large scale art installations by indie artists.
“You may think next day delivery sounds great, until you’ve got a busted pipe. Then you need same day delivery. Same hour delivery.” - Lowes CEO, Marvin Ellison
Did you know that Edelman found CEOs now have higher credibility than our political leaders? Neither did we, until we heard it at the data-packed Keynote Sessions with NRF President, Matthew Shay. The topics of AI and autonomous delivery were highlighted at the Keynote Sessions; but so were stalwart topics such as, “focusing on fundamentals,” “leveraging the strengths of a diverse workforce,” and “providing value for loyalty.”
We particularly enjoyed Lowes CEO, Marvin Ellison’s MLK Day Keynote Session on diversity and mastering retail fundamentals; Petco CEO, Ron Coughlin’s heartfelt Keynote on becoming a “one stop shop” for pet parents during the pandemic; and Kroger CEO, Rodney McMullen’s Keynote on engaging local communities around food.
“We owe it to ourselves to make sure the decision makers at our company reflect the customers they’re trying to serve.” - Lowes CEO, Marvin Ellison
We hope that, like our team at Surefront, you’re leaving NRF with new strategies and a revived passion for retail excellence in 2023. If you came to the show seeking a novel approach to boost revenue and shorten your product development cycle, look no further.
You don’t want your data to be siloed. Your company’s CRM, PIM and PLM solutions shouldn’t operate in a vacuum, either. Surefront is a Unified Product Collaboration Platform to power growth and ROI. Our patented PIM, CRM, and PLM solutions streamline the omni channel sales, merchandising and product development processes. By combining these essential functionalities, Surefront creates asingle source of truth throughout your product lifecycle, sales and listing processes.