Booths on the show floor of NRF APAC created mockups of real-life retail experiences to showcase their technology. Photo Credit: Natalie Chew
For three days, the show floor at the Sands Expo and Convention Centre was transformed into a giant bustling store as the inaugural NRF 2024: Retail's Big Show Asia Pacific went underway in Singapore from 11-13 June.
Themed “Fast Track Your Success”, the NRF 2024: Retail's Big Show
Asia Pacific saw 238 exhibitors and over 7,000 attendees gathered to
discuss the latest technology and innovations, best practices and
thought leadership spanning the entire retail industry.
Topics covered included loss prevention and asset protection,
merchandising and immersive technologies, as well as generative AI – one
of the focal points of discussion for exhibitors including Google and
Fast Retailing, parent company of the clothing brand Uniqlo.
“We’re always expecting new technology,” said Takahiro Tambara,
global CIO of Fast Retailing. “This way of thinking has been a
significant transformation for our business models.”
Tambara further shared how Uniqlo’s journey to transform itself into a
digital consumer retailing company – an endeavour first started in 2017
– has helped to provide customers with what they need while also
ensuring that the company makes, transports and sells only what it
necessary, thereby eliminating unnecessary waste.
Christopher Thomas-Moore, chief digital officer of Domino’s Pizza,
further expanded upon the pizza company’s own journey toward digital
innovation.
“At Domino’s we’re very data-centric, so we have a pretty large
analytics [team] because we really have to understand the data that
supports what we’re doing. If you really want to make a big impact with
innovation, you first have to ask yourself if your organisation is set
up in a way to innovate, if you have the right organisational structure
and the right financial backing or support from your leadership.”
Aside from insightful discussions, the exhibition also featured
immersive booth setups, with exhibitors eager to showcase the
innovations and technology utilised in various day-to-day operations,
such as employee training and onboarding processes.
With fast-evolving technology like AI, retailers can look to the future of operations and processes like employee onboarding and training.Stephen Sing, executive director of the Singapore Retail Association,
shared that this growing emphasis on digital capabilities and AI
technology within the retail industry was indicative of a shift yet to
come.
“Digital capabilities will enable retailers to create seamless and
engaging shopping experiences across multiple platforms… These
technologies will lead to more efficient operations, cost savings, and
improved customer satisfaction, making the retail sector more responsive
and adaptive to changing market demands.”
“The retail industry in the APAC region is poised for significant
evolution, driven by rapid urbanisation, growing consumer markets, and
technological advancements,” he added.
“The region's diversity will require tailored approaches to different
markets, but overall, innovation and agility will be key drivers of
success. As [NRF APAC] establishes its presence in the region, the event
will likely attract a larger and more diverse audience, including
retailers, technology providers, and innovators.”