Robin van Stenis, Director of Global Marketing at Nedap Retail02.27.23
The NRF Big Show in New York saw 2023 arrive with a bang as the biggest names in global retail and retail technology gathered to be part of the innovation and digital transformation we are set to encounter in the year ahead.
The action-packed event, the most successful post pandemic with a near-record level of attendance, featured a 300,000 square foot exposition space, an NRF Innovation Lab, a Startup Zone, and an educational curriculum about the industry and future retail trends. It aims to connect industry experts to share ideas and insights and learn from each other.
NRF 2023 showcased the latest developments in retail technology that will continue transforming the industry, with vital news, trends and sessions reminding attendees why it is retail’s biggest show and what those exhibiting had to offer.
In front of a jam-packed audience, lululemon delivered a Big Ideas Speaker Session which provided insights on why there’s no future in retail without RFID and how to improve inventory visibility to unlock the best shopping experience for today’s omnichannel shoppers.
Ailen Bilharz, director of iD Cloud Platform North America at Nedap, was part of the session. She comments: "Retail is habitually met with an ever-evolving environment and lululemon thrives from a position of strength by staying true to their vision and values on serving their guests across the globe. As highly advanced RFID users, lululemon’s adoption of the iD Cloud platform commences the next phase in their RFID journey. With Nedap’s scalable real-time solution, lululemon will continue to meet demand and supply across all channels while elevating the digital and physical guest experience.”
It was clear that the retail industry of the future is preparing to bring personalization to all areas of the customer experience through totally immersive experiences. Showcases demonstrated how full retail sensory experiences can be delivered and how 5G can change the checkout experience and warehouse operations.
The heart of the store wasn’t forgotten however and that is POS systems. This year’s NRF saw POS take centre stage with retailers looking to streamline and make POS systems more efficient. Post-pandemic, the retail sector has been transformed because of POS and that looks only set to continue way into 2023 and beyond, as retailers look to meet demand and supply across channels while improving the customer experience.
Without real time inventory visibility, retailers have to sometimes cancel orders or even remove items from their web-sites, costing them time and money, as they simply don’t have confidence in their inventory.
Item-level RFID can transform this reality as retailers can gain greater visibility over their in-ventory at all times. The adoption of RFID is the main challenge but positive conversations around the technology could signal a changing of the tide.
2023 could be the year when the reality changes for many, as retailers may begin to see the benefits which item-level RFID can bring to their day-to-day operations. In times of economic difficulty, excess stock can overwhelm cash flow in carrying and costs, leading to lost sales and stock-outs.
With this in mind, it was only expected that real time inventory would be an important topic at this year’s event, with more change still to come over the course of year.
The retail sector is currently facing challenges not seen in over a decade, requiring greater inventory visibility to control costs, as well as adapting to consumers who are much more in tune with opting for more sustainable businesses. It was great to see this highlighted through informative panel events which will help retailers create a dynamic frontline workforce, oper-ate more sustainability and leverage the power of all the emerging technologies throughout the sector.
NRF proved once again it was the place to be when looking for technologies and systems that can enable retailers to improve everyday operations both for themselves and for their customers. It’s all about the Big Ideas in challenging times, and 2023 is already expected to bring innovation to the fore in an exciting and substantial way.
The action-packed event, the most successful post pandemic with a near-record level of attendance, featured a 300,000 square foot exposition space, an NRF Innovation Lab, a Startup Zone, and an educational curriculum about the industry and future retail trends. It aims to connect industry experts to share ideas and insights and learn from each other.
NRF 2023 showcased the latest developments in retail technology that will continue transforming the industry, with vital news, trends and sessions reminding attendees why it is retail’s biggest show and what those exhibiting had to offer.
No Future in Retail without RFID
January marked the announcement of lululemon selecting Nedap as their provider for the deployment of Nedap iD Cloud to enhance its omni-guest experience across 600 stores globally by optimising product availability.In front of a jam-packed audience, lululemon delivered a Big Ideas Speaker Session which provided insights on why there’s no future in retail without RFID and how to improve inventory visibility to unlock the best shopping experience for today’s omnichannel shoppers.
Ailen Bilharz, director of iD Cloud Platform North America at Nedap, was part of the session. She comments: "Retail is habitually met with an ever-evolving environment and lululemon thrives from a position of strength by staying true to their vision and values on serving their guests across the globe. As highly advanced RFID users, lululemon’s adoption of the iD Cloud platform commences the next phase in their RFID journey. With Nedap’s scalable real-time solution, lululemon will continue to meet demand and supply across all channels while elevating the digital and physical guest experience.”
Tech Taking Centre Stage at Brand Showcases
NRF’s tech offering has come on significantly in recent years and this year was no excep-tion, with the largest names in global retailing showcasing new immersive innovations, such as frictionless checkout and personalisation through VR/AR, the metaverse and more.It was clear that the retail industry of the future is preparing to bring personalization to all areas of the customer experience through totally immersive experiences. Showcases demonstrated how full retail sensory experiences can be delivered and how 5G can change the checkout experience and warehouse operations.
The heart of the store wasn’t forgotten however and that is POS systems. This year’s NRF saw POS take centre stage with retailers looking to streamline and make POS systems more efficient. Post-pandemic, the retail sector has been transformed because of POS and that looks only set to continue way into 2023 and beyond, as retailers look to meet demand and supply across channels while improving the customer experience.
Using Real-Time Inventory to See Where Inventory Items are Right Now
For many retailers, being able to see exactly where their inventory items are at a glance is incredibly beneficial. Retailers want to see where an item is in real time, at any particular mo-ment and not just where an item was an hour ago or yesterday.Without real time inventory visibility, retailers have to sometimes cancel orders or even remove items from their web-sites, costing them time and money, as they simply don’t have confidence in their inventory.
Item-level RFID can transform this reality as retailers can gain greater visibility over their in-ventory at all times. The adoption of RFID is the main challenge but positive conversations around the technology could signal a changing of the tide.
2023 could be the year when the reality changes for many, as retailers may begin to see the benefits which item-level RFID can bring to their day-to-day operations. In times of economic difficulty, excess stock can overwhelm cash flow in carrying and costs, leading to lost sales and stock-outs.
With this in mind, it was only expected that real time inventory would be an important topic at this year’s event, with more change still to come over the course of year.
Final Thoughts
NRF 2023 was one of the most well attended in recent memory and provided visitors with a glimpse into the future of the global retail sector, portraying it as one powered by innovative technologies and centred around personalised and immersive experiences with the customer is at its core.The retail sector is currently facing challenges not seen in over a decade, requiring greater inventory visibility to control costs, as well as adapting to consumers who are much more in tune with opting for more sustainable businesses. It was great to see this highlighted through informative panel events which will help retailers create a dynamic frontline workforce, oper-ate more sustainability and leverage the power of all the emerging technologies throughout the sector.
NRF proved once again it was the place to be when looking for technologies and systems that can enable retailers to improve everyday operations both for themselves and for their customers. It’s all about the Big Ideas in challenging times, and 2023 is already expected to bring innovation to the fore in an exciting and substantial way.