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PRESS RELEASE
Relevant Insights from The National Retail Federation!
23 December, 2009 - Source: National Retail Federation
Our focus at EKN has always been on education and providing our viewers as many alternatives as possible when selecting vendors and their offerings for customer’s projects. We know that understanding the underlying needs of all of the stakeholders engaged in a project can often be a key element in launching a successful self-service project. One obvious focal point for recovery is in Retail.
The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2008 sales of $4.6 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations.
Having an understanding of how our potential customers see the marketplace is also fundamentally important to creating an approach which is openly received by decision makers that are now weighted down by budgets that are focused on little or no spending, cost reduction, and down sizing. For those that have been agile enough and dedicated to basics and survival, there is good news. There are opportunities and ROI support for new technologies and integration of various mediums/ applications that have been viewed in the past as separate. For example, using Digital Signage and Point Of Sale or Kiosks in the aisle at the Point of Purchase for several basic transactions or to provide comparison of products represent real opportunity. One thing is clear, companies are looking for ways to improve the customer experience, empower their employees and differentiate themselves from their competitors.
Scott B. Krugman Vice President Industry Public Relations National Retail Federation
EKN: "Thank you for taking time out of your busy schedules to share your thoughts and insights with our readers."
Dan Butler Vice President Merchandising & Retail Operations National Retail Federation
EKN: "What has been the focus of the NRF this year and what have you been hearing and observing from your Members?" Scott / Dan: "Our goal is to promote and protect the interests of retailers all over the world through advocacy, education and innovation."
EKN: "We spoke about several topics and have broken our discussion down to several bullet points for our readers review:"
-- Value Retailers --
"Are shoppers looking at only discounted items and are they focused on not spending versus spending under Budget?" Scott / Dan: "The consumers are focused on value and price. They aren’t just buying an item because it is marked down. They are buying items they want and/or need and are looking at price closely and matching it with its perceived value. Consumers are shopping around more which leads to more competitive pricing."
"Also, will specialty stores such as Dollar Stores, low cost items only stores, continue their growth?" Scott / Dan: "This category has faired well in the recession. The good news is that during the last two years they have broadened their customer base and more people who maybe had not shopped their stores in past have checked them out and will be likely to return even after the economy has recovered."
"The retailers in this category have also tried to further differentiate themselves in their assortments which will make them a destination for shoppers seeking that product in the future. Categories like food, party supplies, and cleaning supplies have made this category stronger over the past two years."
-- Role of Self Service Technologies --
"Where do you see opportunities to expand self-service in 2010? Are there changes happening within the store environment to support more interactive digital interaction in the form of Digital Signage and or Kiosk integrated with other technologies? What have you experienced and how is the expectation of the customer maturing?" Scott / Dan: "People tend to think of self-service in terms of self-checkout. We see technology branching out and helping consumers with their actual shopping before they make their purchases and impacting the choices made by consumers. The customer is becoming more techno-savvy and appreciate the ability to get more product and pricing information through a variety of new tools to help improve their shopping experience."
"Digital technology will continue to explode as a critically important vehicle for communicating price and value to the consumer as well as serving as an important marketing vehicle for the brand."
"Store design executives recognize these trends and they are building stores to meet the needs of the evolving consumer. More stores will be built with cyber cafes, docking and charging stations and online kiosks. The focus is on 'how' can store design improve and enhance the shopping experience."
-- Customer Loyalty Programs --
"How can Loyalty Programs help differentiate stores and can suppliers help to support a Loyalty Program? How can Loyalty Programs harvest customer information and how can that information assist them in offering relevant rewards?" Scott / Dan: "Loyalty programs often include vendor partners. Customer Relationship Management (CRM) technologies allow retailers to capture the data as consumers share their data and back of house technologies allow retailers to get more of a 360 degree view of the consumer, their preferences, wants and needs."
"The beauty of CRM is that it allows the retailer to customize their program to their target consumer. Consumers have let retailers know how they want to be communicated to and CRM fulfills that request. For example, a customer that wants email, gets email, where another might prefer direct mail and yet another prefers telephone contact. At the heart of a great loyalty program must be respect for the customer and their preferences. CRM accentuates marketing but does not replace marketing."
Susan Newman Vice President of Conferences National Retail Federation / Shop.org
EKN: "We also spoke with a long time friend, Ms. Susan Newman, Vice President of Conferences for the National Retail Federation and Shop.org. The 2010 EXPO Hall will be an enormous 160,000 sq. ft. with more than 400 vendors!"
EKN: "Because we represent so many companies outside of the US, what type of experience can International Attendees expect and is the BIG Show mainly focused on US based Stores and Retailer's?" Susan:: "Retail's BIG Show has a very large international audience so we incorporate many benefits for the international visitor. As a special welcome, we have an International Welcome Reception where all of the international attendees can mingle and network amongst themselves. This is in addition to our general Opening Reception where all attendees have the opportunity to network and do business in a relaxed environment. We have an International Lounge at the Center where international attendees have coffee throughout the day, a meeting space for one on one meetings and a place to meet and network with other international attendees. We offer simultaneous translation in many of the sessions that we feel would be of most interest to this audience, and we have bilingual assistance at the registration counter to assist with any questions international attendees may have."
"Much of our content has been created with the diversity of our audience in mind. There are many issues that face all retailers no matter where there store is located or no matter what audience they sell to. Our goal is to offer content that is compelling to the large diversity of our audience (no matter what type of retailer or where they are from)."
View of show floor from the 2009 National Retail Federation BIG Show
EKN: "We are all focused on the economic indicators and trends to glimpse into the near term to determine if we are rounding the corner and heading for a recovery. The BIG Show is probably a good litmus test for determining how people are feeling and what Retailer's are projecting for the Winter Season and beyond. Can you provide your thoughts on trends such as technologies that are coming on stream now and what types of exhibits attendees can expect to see?" Susan:: "We are very hopeful that we will see things turn around in 2010. At this point, retailers seem focused on the cross channel experience as well as the customer experience across channels. There is great challenge relating to your audience these days with so many new technologies and the need for quick or immediate gratification. We need to communicate with our customer in the way they want. Retailers are trying to determine what that method is for their customers. At Retail's BIG Show, technologies will have a focus on cross channel and mobile - starting with the online experience to mobile and in-store. You can see what the future holds for these products and so much more at the Jacob Javits Convention Center, on January 10 - 13, 2010!"
EKN: "What types of Educational or Instructional Sessions will be available?" Susan:: "The educational sessions are organized by track and cover all areas of retailing: marketing, merchandising, store design, information technology, supply chain, store operations, and online retailing. We even have tracks that address hot topics such as international expansion, sustainability and surviving as an independent retailer.
Many of our sessions feature original research, and even our concurrent sessions feature retail leaders such as Ian Cheshire of Kingfisher, Chris McCann of 1-800 Flowers, and Fawaz AlHokair of AlHokair Group. Our general sessions -- we call them "Super Sessions" -- feature the world's more prominent retailers, with presentations by Best Buy, Wal-Mart, and Tesco. We'll also feature a panel discussion on the state of the global economy, another on the changing face of luxury, as well as our closing Super Session on the importance of leadership in the midst of an economic downturn and how winning retailers will take advantage of the market to gain competitive advantage."
EKN: "In closing we believe Retail's BIG Show is a very important event that represents an extraordinary opportunity to look into the World of Retailing. Is there anything else you would like to share with our Viewers, Susan?" Susan:: "If there is only ONE retail event you are going to in 2010, THIS should be the one! Start your year off right ...find out how to increase profits, communicate effectively with your customer and keep them loyal and interested. To hear from thought leaders and retailers that have learned valuable lessons the hard way and will share them with you - sign up today!
Also, if budget is an issue, retailers can attend the 2 day EXPO for FREE which includes incredible sessions, networking receptions and access to the Design Studio for January 11 & 12, 2010."
A video commentary of Susan Newman discussing this years BIG Show follows.
