What Did We Learn from Legends of Commerce: Content & Cocktails?

Introduction

On Tuesday, December 3, 2024, in New York City, Coresight Research and Ken Pilot Ventures co-hosted an exclusive evening event, Legends of Commerce: Content & Cocktails, which brought together top retail and technology leaders for rapid-fire panels, fascinating keynotes and unmissable networking.

This transformative event was supported by:

• Silver sponsors—Cimulate, Crave Retail, Digital Wave Technology, Knot Standard, Lily AI, RADAR, Raspberry AI
• Bronze sponsors—ALB Vodka, Bynder, CGS (BlueCherry Enterprise Solution), CI&T, Flipkart Commerce Cloud, Pantalones Tequila, RevTech Ventures, Sangria by dotkonnekt, Wunderkind
• Partners—Leila Pinto, Tracie Martyn

In this free report, Deborah Weinswig, CEO and Founder of Coresight Research, offers selected highlights from the conference, which she discussed in the Retaili$tic podcast (S4.EP48)!

Legends of Commerce: Coresight Research Insights

As we reflect on our recent Legends of Commerce conference, it was truly awe-inspiring to witness the engaging conversations both on and off the stage. We were proud to bring together nearly 200 attendees from around the world and were fortunate to have the support of nearly 20 sponsors. It turned out to be a fantastic event for everyone involved. The discussions on stage were particularly open and thought-provoking.

Responsible AI

We began with a panel on responsible AI (artificial intelligence), which has become a significant topic in corporate decision-making. Glenn Allison, Vice President of Enterprise AI Platforms & AI Solution Engineering at rural lifestyle retailer Tractor Supply Company, who has championed this issue over the past year, shared valuable insights. His efforts have made responsible AI a key consideration across many areas of corporate America.

One of the highlights of the conference was a discussion about the intersection of online and offline retail. Fiona Tan, CTO of online furniture retailer Wayfair, spoke about the company’s journey in opening its first physical store.

In addition, Lori Schafer, CEO of AI solutions provider Digital Wave Technology, offered a forward-looking perspective on what clients aim to achieve in 2025, including advancements in demand forecasting, inventory allocation, promotions and pricing strategies.

These themes remain central to retail technology innovation. As I reflected, the challenge of optimizing inventory and allocation—ensuring the right order is placed and inventory reaches the best locations at the right time—still feels like the holy grail of retail. It’s a challenge that inspired me to enter this space many years ago, and it remains just as relevant today.

Consumer-friendly Search

Another standout session featured a panel with Ahmed Naiem, President of Lily AI, and John Andrews, CEO of Cimulate. Moderated by Ken Pilot, this discussion on search technology and SEO in the era of GenAI (generative AI) captivated the audience. Many attendees were surprised to learn that, far from being obsolete, search is becoming an even hotter topic amid changes at Google and beyond.

In-store Tech

The in-store tech panel, moderated by Melissa Gonzalez, Principal, MG2, was another highlight. Since the Covid-19 pandemic, in-store innovation has grown in importance, and the panel delved into new ways that retailers are enhancing the shopping experience. Panelists included Spencer Hewett, Founder and CEO of RADAR, and Matthew Cyr, CEO and Founder of Crave Retail, who discussed leveraging inventory technology to improve product discoverability and engagement in-store.

One particularly insightful point was how retailers manage low stock. When stores have only a few units of an item, they often remove it from BOPIS (buy online, pick up in-store) options due to potential inaccuracies in availability. The panel emphasized how technology can help retailers maximize inventory utilization, ensuring every item is accounted for and accessible.

Culture Is Critical

I was privileged to host a conversation with Joe Preston, CEO of New Balance. We explored a range of topics, including fostering company culture, the impact of New Balance’s innovative headquarters, and the company’s approach to placemaking. For example, New Balance’s campus now serves as a venue for Boston sports teams and live music, fostering community engagement. Preston also shared his thoughts on innovation, entering new markets and leaving a legacy.

The audience walked away with a clear message: embrace new ideas, use technology responsibly, and cultivate a culture that resonates with both employees and customers.

Creative Tech

A session featuring Cheryl Liu, CEO of Raspberry AI, and Matthew Mueller, CEO of Knot Standard, explored advancements in creative technologies, including custom-fit solutions—a topic that is growing increasingly relevant in light of changing consumer needs. Knot Standard’s work on personalized fits, especially as it partners with brands such as Todd Snyder, showcased the importance of precision in today’s retail landscape.

Todd Snyder himself delivered a keynote, sharing his journey and lessons learned along the way. His candid reflections on decision-making, challenges and successes resonated deeply with the audience.

Future Optimism

The event concluded with a panel led by Barry McGeough, Group Vice President of Innovation at AmeriCo Group, featuring insights from Rachel Marler, Chief Commercial Officer, North America at LifeStyles Healthcare; Paul Magel, President of the Application Solutions Division at CGS; and Faisal Charania, CEO of Dogwood Brands. They explored themes including supply chain innovation, demand forecasting and omnichannel strategies.

The overall sentiment coming out of the conference was one of optimism and excitement, particularly as we head into the heart of the holiday season after a strong Black Friday and Cyber Monday.