target audience: TECH BUYER Publication date: Feb 2023 - Document type: IDC Perspective - Doc Document number: # US49080823
Highlights from NRF 2023: Retail's Big Show
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Abstract
This IDC Perspective reviews key trends and technology innovations that were highlighted at NRF 2023: Retail's Big Show — held January 15–17, 2023, in New York City, which attracted over 35,000 attendees across the industry, double the number seen last year at NRF 2022 in the midst of the global COVID-19 pandemic. Technology innovations focused on seven key areas: customer experience, intelligent operations, end-to-end connected supply chains, AI for better decisioning and operational efficiency, workforce optimization, sustainability, and infrastructure modernization. Retailers are accelerating data-driven automation to improve customer experience and resiliency.
Leslie Hand, group vice president, IDC's Retail and Financial Services, noted, "The exuberance for retail and retail technology investment at NRF this year spoke volumes. Retailers clearly understand that the future of retail business depends on the ability to meet customer experience needs for frictionless, personalized shopping experiences, even as they continue to change. Becoming digital businesses is core to meeting changing customer expectations, but perhaps more importantly, to be more resilient and seize a competitive advantage (and new opportunities). We are in the middle of a customer-led, technology-enabled revolution in retail."