Senior retailers and tech providers from around the globe hit New York City for Retail’s Big Show, organized by the National Retail Federation (NRF). This year, the event brought together around 40,000 attendees from 105 countries, representing 6,200 brands. The buzz? Artificial intelligence (AI). Retailers are realizing AI is set to overhaul many aspects of their businesses.
Doug Herrington, Amazon’s CEO for Worldwide Stores, kicked things off with a powerful statement: “AI is becoming transformative. We’ve not had a technology revolution like this since the internet.” He emphasized the significant investments required but maintained that the potential gains make it worthwhile.
Every booth and presentation over three days heavily featured AI. Nvidia, a major player in AI chip and platform solutions, was particularly prominent. Azita Martin, Nvidia’s VP and GM for retail, urged retailers to dive into AI if they haven’t already. “AI is real, so get started,” she insisted, highlighting the need for executive buy-in and a focus on specific challenges.
Lowe’s, the US DIY chain, has already jumped on board. They’ve created digital twins of their 1,700 stores to optimize layouts and improve the shopping experience. As Seemantini Godbole, Lowe’s Chief Digital and Information Officer, pointed out, “Our space planning leaders can mark SKUs on the twin and visualize changes without physically moving anything.”
Lowe’s also employs computer vision technology. This real-time solution identifies issues, helps prevent losses, and efficiently allocates staff to assist customers. Godbole explained, “The computer vision spots them and alerts the employee with a Zebra device.” With integrated generative AI chat tools, staff can quickly answer customer questions, effectively turning associates into experts.
Tapestry, the parent company of brands like Coach, also plans to implement computer vision to track customer movements in stores. Trang To, Tapestry’s VP of omni-channel, noted that this will enhance store design and labor scheduling.
Over at Walmart, employees have access to an app on their phones, and with GenAI, they now have more information at their fingertips. Senior VP Greg Cathey highlighted how this democratizes data, allowing managers to plan shifts in a fraction of the time it used to take.
H&M’s chief digital information officer, Ellen Svanstrom, emphasized the need to connect digital assets with physical locations. AI-enhanced RFID technology plays a crucial role here, making operations smoother and more efficient, which she believes is a game changer.
Data management is another critical piece of the puzzle. Gustavo Amorim from Stibo Systems explained the importance of trust in data as retailers navigate the complexities of gathering and processing information. Stitch Fix uses Stibo’s services to manage product information more effectively, allowing their stylists to provide a more tailored service to customers.
With AI’s rise, there’s also a growing demand for personal content, which can overwhelm creative teams. David Hartman from Walmart collaborates with Adobe to streamline management of marketing materials. Marta Frattini from Adobe echoed this sentiment, noting that while demand for personalized content skyrockets, generative AI provides unmatched speed to meet this challenge.
While AI dominated the discussions, RFID technology also made waves at the NRF. Dean Frew from SML highlighted that, although only 15% of retailers currently use RFID, this number is expected to shift dramatically as retailers recognize its benefits—from stock visibility to enhancing customer experiences.
Innovators like Mira showcased solutions for self-checkout that use unsupervised computer vision technology, eliminating the need for barcode scanning.
AI is undeniably reshaping the retail landscape, and as operators of all sizes begin to harness its potential, they’ll increasingly find ways to elevate their businesses.
