Shoptalk 2022
Wow. What a show! Retail’s hottest digital show had record-breaking attendance, proving that while virtual has its benefits, live events are back. We heard from retail’s community of changemakers about everything from innovative growth opportunities to global shopping experiences, and everything in-between. Keep reading to learn key insights from some of retail’s biggest names and see what our very own retail expert had to say about the event and the future of retail and commerce.
Overheard on the Floor
Metaverse Matters
The metaverse was on the minds of some of retail’s key players at Shoptalk 2022.
- Jamie Salter of Authentic Brands Group believes the metaverse is more than just a passing phase, stating, “The next 12 months are about learning. Forever21 isn’t selling a lot on the metaverse today — but with ecommerce, people used to look at me and say, ‘what’s that?’ “I believe the metaverse is here to stay.”
- Brieane Olson, Pac Sun President, echoed that thought, and highlighted the important role Gen Z will play in the future, “Gen Z are cultural pioneers leading us into the metaverse in authentic ways — creating connections, allowing for community, building alongside the consumer.”
Consumer Behavior
The key trends driving consumer behavior today and in the future.
- Rachel Meyers, Director of Product Marketing at Salesforce, says “70% of shoppers say keeping their loyalty is a challenge. 7 out of 10 will provide personal info, as long as they feel they get value in exchange.”
- Aaron Cheris of Bain, on sustainability’s staying power, “67% of US consumers say sustainability plays a role in their regular purchase decisions.”
- ThredUP CEO and co-founder James Reinhart on making fashion sustainable, “If a brand is offering resale as part of their broader strategy, really thinking about circularity, consumers actually think the brand is healthier and they are more excited to work with that brand.”
- Matt Madrigal of Google, on how people are shopping,“71% of shoppers prefer to shop brands that share their values. This past holiday, 54+% of shoppers used 5+ channels like social, search, video. They spent 2x as much as shoppers who used 1-2 channels.”
- Ken Worzel, Chief Operating Officer of Nordstrom, speaking on retail’s rapid technological transformation, “We use technology to take the friction out of the experience— it’s not about the technology, it’s all about the customer experience.”
Straight from the Source
Our own retail expert shared some of his most memorable moments.
Jeff Neville, Senior Vice President, Digital Commerce Group Leader, Sophelle
- The most informative session: Attracting, Developing and Retaining Top Digital Talent
- The speaker I was most excited to hear from: Letitia Webster, SVP eCommerce, Omni Channel & Master Data Mgt., Tractor Supply. TSC does Omni right.
- My favorite experience or moment: Walking onto the show floor, seeing people, it being crowded, and hearing the “Buzz” and an epic performance by Flo Rida!
- The company/brand/product with the biggest buzz: Salesforce, ContentSquare
- The key retail trends for 2022/23: Omnichannel Personalization, in-store Experience, labor and associate retention, How do I play in the metaverse. Profitability.
- Key takeaways from Shoptalk 2022: In-person shows are back!
What’s Next
Shoptalk 2002 might be over, but retailers still need to learn and discover new solutions. That’s why Sophelle created its Retail Solutions Directory. Check out our comprehensive list of thousands of retail solutions to ensure you find the right fit. Click here to add your own solution to the directory.
Want to stay connected through in-person and online retail events? Our comprehensive list of Retail Trade Shows has you covered.
Missed Shoptalk and want to connect in-person? Meet us at the Retail Innovation Conference & Expo, May 11-12, 2022 at McCormick Place in Chicago.
