Retails Big Show Transformed For 2014
Over 29,000 people are expected to gather at the National Retail Federation’s big show (NRF) this Sunday, January 11th, 2014, in New York City. #NRF14 brings the intersection of new retail business models, products, store concepts, technology, society, and culture together!
A few big trends emerge based on conversations with our clients attending the event:
- Building out matrix commerce. Retail faces rapidly changing business models and new payment options that are often misunderstood and poorly integrated. Matrix commerce describes the fusing of demand signals and supply chains in an increasingly complex world of buyers seeking frictionless buying experiences. Channels move from multi-channel to total channels. As the world revolves around the buyer, channels, demand signals, supply chains, payment options, enablers, and big data will converge to create what Constellation coined in 2011 as Matrix Commerce. Matrix Commerce spans across disciplines as people, process, and technologies continue to transform today’s commerce models. This shift to a buyer centric model will result in continued consolidation of retail technologies as stacks and ecosystems form around real buyer needs. Lessons learned: There is no single end to end solution. However, strong open standards and a focus on buyer centricity will help provide guide rails to success.
- Dealing with digital disruption. The convergence of the five forces of consumerization described in 2009 and 2010 serve as the five pillars of digital business. Retailers recognize that they no longer sell products and services, as buyers seek experiences and outcomes. Market leaders and fast followers now democratize the data to decisions pathway to enable innovation at all levels More…