Matthew Shay, President and CEO of the National Retail Federation, discusses the 2023 retail outlook, analyzing key trends from the 2022 holiday season, persistent supply chain challenges, and the impact of inflation. This episode offers retailers a macroeconomic perspective on the coming year, highlighting NRF priorities and the significance of NRF 2023: Retail's Big Show for strategic planning and industry insights.
Key takeaways
Retailers should prepare for continued supply chain volatility and prioritize resilience strategies to ensure product availability throughout 2023.
Closely monitor evolving consumer behavior and spending patterns, as inflation will likely continue to influence purchasing decisions and impact retailer margins.
Leverage industry events like NRF 2023: Retail's Big Show to gain insights into macroeconomic trends, technological innovations, and legislative priorities impacting the sector.
Focus on integrating sustainable practices and ethical sourcing into business models, as these are becoming increasingly important factors for consumer preference and brand perception.
Develop omnichannel strategies that seamlessly blend online and brick-and-mortar experiences to meet changing consumer expectations and enhance customer journeys.
After weathering the effects of a global pandemic, supply chain disruptions and inflation, retailers and consumers are ready for a brighter 2023. National Retail Federation President and CEO Matthew Shay joins Retail Gets Real to discuss the industry and how it fared this holiday season, what to expect from retail and NRF in 2023, and what he’s looking forward to at the upcoming NRF 2023: Retail’s Big Show in New York City. Learn more at retailgetsreal.com.
What does this episode say about retail & omnichannel?
Retailers should prepare for continued supply chain volatility and prioritize resilience strategies to ensure product availability throughout 2023.
What does this episode say about supply chain & operations?
Closely monitor evolving consumer behavior and spending patterns, as inflation will likely continue to influence purchasing decisions and impact retailer margins.
What does this episode say about finance & fundraising?
Leverage industry events like NRF 2023: Retail's Big Show to gain insights into macroeconomic trends, technological innovations, and legislative priorities impacting the sector.
What does this episode say about founder & leadership?
Focus on integrating sustainable practices and ethical sourcing into business models, as these are becoming increasingly important factors for consumer preference and brand perception.
What does this episode say about retail & omnichannel?
Develop omnichannel strategies that seamlessly blend online and brick-and-mortar experiences to meet changing consumer expectations and enhance customer journeys.
