A Look Back at Retail’s BIG Show
Retailers and vendors arrived in NYC to network, learn and be inspired at this year’s NRF 101st Annual convention & EXPO. This year’s event focused on “Retail’s New Rules” and how the industry is innovating and reinventing the rules of retail to meet the needs of today’s customer.
During the keynote address, President Bill Clinton said: “We are slowly recovering from the economic crisis. Last year, the retail industry grew by almost 5 percent, compared to the overall U.S. economy, which grew by only 2 percent. That’s good news for all of you. As you know, retail makes up almost 20 percent of our GDP, and supports about 25 percent of our jobs.”
So, what technologies will enable retailers to accelerate growth? At NRF, you couldn’t turn the corner without hearing about the latest mobile technologies or how retailers are benefiting from collective intelligence and predictive analytics.
During our time at NRF we spoke to many retailers that spend millions of dollars each year store testing new products, often with limited accuracy. One example is David’s Bridal, a current user of First Insight’s solution. Listen below as Jeff Warzel, SVP Supply Chain for David’s Bridal, discusses how First Insight’s solution has helped them increase forecast accuracy by 20%.