Shoptalk 2024: Rushing Into It Slowly
We're all getting drunk on AI, however if we're not careful, the hangover's going to be a big one
The Horizon Stage at Shoptalk 2024
You got to hand it to Hyve, they certainly know how to put on a conference and Shoptalk 2024 was no different. Three full days of content, meetup, an amazing Expo, brilliant networking and to top it all, great entertainment, what’s not to like?
Well, for one there’s the walking. Mile upon mile of it. OK so it’s actually great exercise but for one who arrived early and stayed on for some R&R, by the end of my stay, I was glad to get on the plane home. Did I say R&R? Spring break coupled with some netball put paid to that; Vegas was rammed. But what of Shoptalk?
As expected, all forms of AI were royally represented. However, unlike some other conferences I’ve been to recently, this was no homage to AI, rather it was something of an examination, and that was a good thing. Why? Because we have become dangerously inured to worshipping at the feet of the great God of AI.
A cool vibe welcomed attendees
As Shaikesh Jejurikar P&G COO remarked when discussing their approach to AI - "the use cases are still being developed". Continuing the theme, he said that P&G look at the product first and then whether AI can help develop a better product.
And that sentiment was echoed by numerous speakers. Chandhu Nair SVP at Lowe’s stressing how important having adoption and operational plans are to the success of any AI, ML initiative. Going on to perfectly articulate the AI challenge and opportunity “most of your data is unstructured - in manuals and employees heads”.
"Think of AI as the engine which is going to propel growth, and data as the fuel"
Sameer Hassan SVP Technology, Williams Sonoma
However, it was Colleen Aubrey SVP Ad Products & Technology at Amazon who summed it up for me when asked about Generative AI, and in doing so, sounded a warning bell that the entire retail industry would do well to heed; “There is no room for misrepresentation”.
Great to catch up with the awesome Ron Thurston and Liza Amlani
And that, for me, is probably the most overriding takeaway from Shoptalk 2024. The industry appears to be rushing lemming-like to adopt AI without necessarily considering the best way to approach this. Like putting a monkey behind the wheel of a car, pretty exciting but inevitably sooner or later, you’re going to crash.
A real pleasure to record a RETHINK Retail podcast with the amazing Vicki Cantrell
We're all in danger of getting drunk on AI, however once the party’s over, the hangover's going to be a big one. And just like everything in retail, there will be winners and losers.
As one speaker so eloquently put it, “rush into it slowly”.
But of course, Shoptalk wasn’t a one trick pony, there was plenty more content to consume.
The traditional Shoptalk beach party at Mandalay Bay this year featured Ludacris
Always great to catch up with Steve Dennis, this year launching his new book, Leaders Leap.
"Sometimes people just want to buy something"
Dani Reiss CEO, Canada Goose
Just as traditional as the beach party at Shoptalk is the final session of the conference where the Shoptalk team picks out their key takeaways from the previous three days. And on that front, Ben Miller, Joe Laszlo and Alexa Tietjen did a great job beautifully choreographed by Chris Walton and Anne Mezzenga from the Omnitalk podcast.
"The linear path to purchase has disappeared....social (commerce) will be where you create demand"
Ben Miller, Shoptalk
Topping the list for me, other than AI were:
Retail media
Store associate technologies
Path to purchase and UX of the future
Brand power
Merchandising tactics and personalisation
And on UX and personalisation, there was plenty of discussion around the digitalisation of the store and how to create more compelling, immersive customer experiences.
Which, with AI, is kind of where we came in.