NRF: Retail’s Big Show 2024 Takeaways

We are in a collaborative era. VML is a member of the MACH Alliance (Microservices based, API-first, Cloud-native SaaS and Headless). MACH technologies support composable tech stacks from best-of-breed suppliers, in which components are pluggable, scalable and replaceable. They can be continually improved or replaced to meet changing business requirements and better connect the customer journey.

While VML has been building composable solutions for over 10 years, the MACH Alliance is young and growing and was well represented at NRF by its members at the MACH Haus. The idea of composable tech stacks is, in itself, a partnership play. We saw it playout at the MACH Haus and elsewhere at NRF - whether that is between brands and creators, tech vendors and agencies or in new alliances between tech vendors. Notably, our tech partners are teaming up more and more with other vendors to provide better solutions and make the most of what AI can offer across those solutions.

VML and WPP attendees at NRF were not struck necessarily by brand new, breakthrough tech, but instead by how existing solutions were now being scaled because they have become readily affordable.

One example is RFID (Radio Frequency Identification). RFID dates back 40 years, but it’s having its moment now. It could be a gamechanger in tracking what goes into shoppers’ baskets and enabling seamless checkout. For example, UNIQLO has implemented RFID checkout to allow shoppers to pay automatically by simply dropping their purchases into bins on exit. Additionally, BLE (Bluetooth Low Energy) also seem to be taking off, now that costs have come down and is enabling retailers and receivers to keep track of everything from manufacturing to returns and recycling.

The use of robots is also rocketing, and one of the stars of NRF was Apollo, a humanoid robot. Designed by Austin-based tech startup Apptronik, Apollo has been making its rounds on the event circuit. While attendees were able to pop in the NRF Innovation Lab for a selfie with Apollo, the real highlight of this five-plus foot robot is its potential within the logistics and manufacturing industries.

As Beth Ann Kaminkow wrote about NRF in Forbes “the store is the epicenter of commerce. Rising generations (Gen Z and Alpha) love brick and mortar because of the brand experience and engagement that stores deliver.” H&M’s Linda Li agreed, sharing in a keynote that the GenZ customer “actually prefers to shop in stores”. But it’s not just about the acquisition, instead, retailers and brands are curators of experiences and the demand is only growing.

VML brought this concept to life in partnership with WPP at the Tiffany landmark store on Fifth Avenue. At an exclusive brand marketer experience, guests were taken on a tour of the flagship location. With its exceptional attention to detail and focus on the personalized customer journey, the store is an experience in itself.

But physical stores also play a central part in a retailer’s ecosystem as the hub of retail media networks and in fulfilment— such as Buy Online Pickup In Store. NRF proved it’s not just theatrics, the “smarts” in stores are just as critical in terms of matching online for targeting and trackability. The future rests in how you connect and deliver data-driven experiences across the omnichannel journey from physical to social, and everything in between.