ShopTalk 2024 Recap: Key Takeaways for Retailers

Shoptalk 2024 is a wrap! Shoptalk has come and gone, leaving a trail of valuable insights for retailers and grocers alike. Let’s do a quick recap of all the goodness that was:

The Rise of Generative AI (Gen AI)

• Gen AI was a hot topic, with Jason Goldberg, one of our trusted advisors, highlighting its long-term potential: "We're overhyping the short term but underhyping the long term."
• 6 out of 12 start-ups in start-up row were hawking new Gen AI tools.
• Interestingly, the conversation is expanding beyond content and front-end customer experiences into the Order Management Systems (OMS) domain. Some lucky prospects got to see that in action at the Nextuple booth!
  
  

The Evolving OMS Landscape

• Retailers are recognizing the limitations of monolithic OMS solutions.
• The concept of a "composable OMS" gained traction, with retailers seeking adaptable solutions tailored to their specific needs.
• Conversations with grocers trying to solve specific orchestration needs and retailers looking for improved sourcing logic – this year it felt like a huge leap in understanding that the OMS domain has gone composable.
  
  

Rethinking Pandemic-Era Strategies

• Another interesting trend is seeing how leaders are rethinking the short-term pivots they made during the pandemic. Whether it’s self-checkout, same day delivery, curbside pickup, or use of Instacart – retailers and grocers are looking at hardening these, improving profitability or in some cases scaling back the use of these tools.
• The willingness to invest in new capabilities is there – but it is against a strong and provable ROI. All part of driving towards shorter and testable engagements.
  
  

Looking Forward

Shoptalk 2024 highlighted the growing importance of AI, adaptable OMS solutions, and data-driven decision-making in retail. We look forward to seeing these trends evolve at Shoptalk 2025!