MarketScale recently attended NRF 2020, otherwise known as Retail’s Big Show, and sat down with some of the retail industry’s most prominent figures to get their insight into where the industry is headed as 2020 dawns.
On this episode of MarketScale’s Retail Podcast, Infovista Senior Director of Global Enterprise Marketing Ricardo Belmar, Sr., Impinj Senior Manager of Retail Solutions Ashley Burkle and RightHand Robotics Head of Product and Marketing Vince Martinelli shared their thoughts on retail’s direction with MarketScale’s Geoffrey Short.
Belmar joined Short to discuss the importance of consistency and scale regarding new technology for retailers. In particular, retailers need to keep in mind how breakdowns can eliminate the benefits of cutting-edge technology. In short, technology can’t just work once – it needs to function across enormous supply and retail chains, and it has to fulfill its role at all times to be worth the investment. Otherwise, retailers will have a costly error on their hands that extends far beyond monetary loss.
Burkle and Short discussed the ever-changing world of inventory management. In today’s data-driven world, retailers have more information regarding this critical function than ever.
However, without proper management and conversion of that data into action, retailers will be left behind.
Burkle and Short also examined RFID’s impact on retailer data.
As part of the Innovation Lab at NRF 2020, RightHand Robotics was a part of the show’s hub for exciting, tech-oriented start-ups.
Martinelli touched on warehouse automation, a hot topic is today’s ever-more-automated world, and highlighted the challenges all retailers face when trying to exceed consumer expectations while taking into account shipping and monetary hurdles.
Another critical piece of adopting modern technology, Martinelli said, will be retailers’ willingness to adapt older warehouse spaces not originally designed for these solutions to accommodate them.
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