NRF 2023 insights: harmonising priorities and thinking smaller

18 ene 2023

Louise Taylor

There are some big themes echoing through the grocery retail sector's leading events this year. Omnichannel profitability, retail media, personalisation and social commerce were all big themes at CES 2023. Now, they are back in the spotlight at retail's biggest annual event: NRF.

NRF 2023 has delivered 350+ speakers and over 1,000 exhibitors, showcasing technologies and breakthrough insights to attendees from across the globe. The event is known for shaping the future of retail through ideas and connections. 2023 has certainly been no exception to this.

Harmonising priorities

"Many delegates use NRF as an opportunity to check their focus and harmonise their priorities for the year ahead," comments Northfork CEO Erik Wallin. "Major retailers, tech providers, entrepreneurs, innovation lab companies and more connect, share and plan at the show. If you want to see the future of retail, NRF is the place to do it."

This year, retail media has been a major theme. Retailers are focusing on creating more immersive, socially focused shopping experiences, whether for fashion items, food, gadgets or anything else. Many have one eye on today's consumers and another on Generation Alpha, as they seek to meet future consumers at their points of inspiration and convenience. This has meant an emphasis on smart shopping solutions, social commerce, Web3 and using machine learning to support personalisation and digitalisation strategies. Retail media runs through the core of all of this.

Thinking smaller

Another interesting theme has been smaller store concepts. Macy's and Bloomingdale's have both embraced smaller, more user-friendly shopping experiences. Northfork's Erik Wallin comments:

"Smaller stores tie in with the theme of greater personalisation across the omnichannel shopping experience. There is room to build a more user-friendly consumer experience both online and offline. It is interesting to see major retailers showcasing this at NRF. It's definitely a key theme to watch, moving forward."