Day 1 @ NRF | Trends, Themes, and Talks

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Retail’s big show in New York City is back in-person this year! Though attendance is smaller than anticipated, we’ve still had the opportunity to partake in great conversations with retailers, vendors, and industry experts. (On the plus side, the Starbucks line is shorter).

While we’re at NRF 2022, tune into our daily blogs to learn more about important retail trends, topics and interesting keynote sessions we joined.

Additionally, Cognira is proud to have our first-ever booth at NRF 2022. This year, we focused on our retail AI Promotion Solution– a single platform for all promotion management. If you’re at the event, come and stop by our booth #1408!

Day 1 Recap

Discover important buzzwords, themes, and discussions we had on day 1.

Trending Buzzwords @ NRF 2022

Most companies exhibiting at NRF are focusing on technology and customer experience within retail.

Here are a few buzzwords we saw in almost every booth at the Javits Center:

Digital, Omnichannel & E-Commerce
Customer Experience
Loyalty
AI Technology
Enhance
Streamline
Real-Time Data
Centralized

Themes @ NRF 2022

It’s no secret that technology has taken off in the last few years. Additionally, the uncertainty that COVID-19 has caused has created more of an urgency to invest in the customer experience.

Here are a few important themes at NRF:

Modernizing the way we work in retail – Long gone are the days of utilizing outdated systems and processes. Today, it’s vital for retailers to get on board with advanced technology both online and in stores.
Simplifying retail headaches with AI technology– Centralized systems are key for improving efficiency and accuracy for retailers.
Investing more in customer experience- Customer loyalty and satisfaction is key for retailers. Getting on board with omnichannel (ensuring everything is connected from in-store, mobile, social, and online) can open doors for retailers.

Recap of a keynote session: How retailers can price strategically for today's disrupted market

Matthew Pavich, Sr. Director at Revionics and leading global retailers came together at NRF to discuss how retailers can price strategically with advanced tools

2021 was a big year of cleanup for retailers as they dealt with a disrupted market due to COVID-19 and the supply chain crisis. However, retailers have learned that there are new strategies and processes to overcome major pricing challenges.

To price strategically, retailers need to invest in:

AI-Powered Recommendations- Utilize powerful what-if forecasting capabilities to simulate possible scenarios (check out our Promotion Advisor module!!)
Build a stronger centralized pricing strategy- Avoid human error and have a streamlined, centralized process for pricing
Invest in data science- Receive accurate visualization of the past, present and future

Tune in more tomorrow for our recap on day 2 at NRF 2022!

About Cognira

Cognira is the leading artificial intelligence solutions provider for retailers. Cognira is passionate about helping retailers unlock valuable, transformative business insights from their data.

We know retail. We love data.

To learn more, check out our website at cognira.com or contact us today to get started.

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