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Coresight Research Gears Up for Shoptalk 2019

On March 3-6, the retail world will come together in Las Vegas for one of the most important industry events of the year: Shoptalk. The Coresight Research team will be there – and our CEO Deborah Weinswig will emcee an important session in which 15 retail technology startups will compete to win one of two $25,000 prizes.

Join us in Track Room 4 starting at 1:45 PM, Sunday March 3, for the Startup Pitch session to see for yourself how these 15 companies are seeking to shake up retail. See here for a detailed agenda.

It’s an amazing and challenging time for retail, as consumer expectations shift rapidly, the lines between online and offline blur and startup companies deliver technology that hastens the pace of disruption. Ten years from now, retail will likely look totally different. Now is a time of great opportunity – but also serious challenges.

Coresight Research has identified the 10 Retail Trends we predict will be important in the coming year:

  1. Cities will see more spectacular retail from a new generation of flagship stores.
  2. “Fast Retail” will be marked by shorter leases, more shared spaces and more short-term stores.
  3. Western retailers will borrow from “New Retail” with data-driven online-to-offline ventures.
  4. Technology will continue to strip friction from brick-and-mortar retail.
  5. Artificial Intelligence will become retailers’ go-to technology.
  6. Startup partnerships will fuel new product development, digital improvements and operational efficiencies.
  7. Supply chains will become more responsive, and switch from lines to loops.
  8. More consumers will seek out environmentally and socially engaged brands.
  9. Shoppers will increasingly expect “Smart Retail” interactions.
  10. Consumers will look for more inclusive offerings, impacting the apparel and luxury markets.

We note these dovetail nicely with Shoptalk’s 75 ways retail will change in the next decade. Shoptalk buckets the 75 Ways Retail Will Change in the Next Decade into 10 Themes:

  1. The New Digital Retail Organization.
  2. The Transformation of the Retail Industry.
  3. The New Era of Marketing ROI and Attribution.
  4. Next Generation Ecommerce and Omnichannel Retail.
  5. Technologies Creating New Retail Experiences.
  6. Leveraging AI and Machine Learning.
  7. Advances in Store Layout and Design.
  8. Improving Operational Efficiency.
  9. Innovation Strategies for Brands and Retailers.
  10. Building Brands for Today’s Consumers.

We looked at the 75 ways through the lens of Coresight’s trends for 2019. We find about 40% align despite the difference in the projected time period (one year vs a decade), specifically:

  • Technology will continue to strip friction from brick-and-mortar retail,
  • Artificial Intelligence will become retailers’ go-to technology,
  • Shoppers will increasingly expect “Smart Retail” interactions.

Additionally, Shoptalk pointed out that augmented/virtual Reality, computer vision and voice command will bring significant impact to retail for the next decade, which echoes our Ten Tech Startup Trends.

These are a few of the hot topics we’ll be following at Shoptalk – which we believe will also be defining themes for retail in the coming years:

  1. New Retail will take greater hold we see more companies place increasing importance on integrating online and offline offerings for a more seamless customer experience: New Retail Briefing #1, New Retail Briefing #2, New Retail Briefing #3, New Retail Briefing #4.
  2. Artificial intelligence will become more deeply integrated in a variety of areas from inventory management to customer recommendations.
  3. Supply chain management will become a key differentiator as companies seek to optimize inventory and maximize ability to offer products that closely map to fast-changing consumer preferences: 3D Disrupts the Fashion Supply Chain.
  4. The evolution of branding will incorporate data-driven marketing that supports a one-to-one brand relationship with consumers.
  5. New payment methods will gain traction as new technology enables features such as cashless (and unstaffed) shops.

The huge scope of topics to be addressed are proof there is no one path to retail/consumer nirvana: The path forward will be iterative and different for different every company. Solutions will evolve as they progress – and as new, disruptive technologies emerge.

We’ve been profiling the 15 companies that will compete for the two $25,000 prizes – some of which could well end up being the disruptors of tomorrow!

The chart below categorizes the fifteen startups into four solutions: Merchandising and Marketing Solution, Physical Retail Shopping Experience, Retail Ecommerce Experience and Fulfillment and Post-Purchase Operations.

Coresight Research is also participating in The New Retail Organization: Omnichannel, which will focus on innovative digital experiences. Retailers and brands are learning to adapt to a rapidly changing environment. Emerging digital products, platforms and technologies regularly create new opportunities to serve existing customers and attract new ones, both in-store and online.

As part of this session, our CEO Deborah Weinswig will speak with Michael Martin, Vice President of Digital Products with Nike. Join us on Tuesday March 5 at 2:50 PM in Track Room 2 for this exciting event. See a more detailed agenda here.

We look forward to seeing everyone in Las Vegas for Shoptalk next week!