Future Commerce
· with Alicia Esposito
· March 17, 2023
· 51 min
Summary
Ecommerce professionals need to strategically harness emerging retail media channels and leverage AI for practical applications that enhance customer experiences. The future of retail also emphasizes community building within physical stores, transforming them into spaces for connection and collaboration.
Key takeaways
Explore new retail media channels beyond traditional online platforms, including connected TV and in-store digital displays, to reach customers at various points of inspiration and drive sales.
Focus on creating community-driven retail spaces that foster connection through services, events, or even playful experiences, moving beyond commerce as the sole focus. This can attract and retain customers seeking deeper engagement.
Integrate AI tools as ideation platforms to enhance creativity and operational efficiency, rather than solely relying on them for automation. Prioritize applications that genuinely improve customer experience.
Investigate opportunities for collaboration between the artistic and commerce communities to unlock new avenues for experiential retail and product development.
Be aware of the evolving landscape of retail innovation, particularly regarding concepts like 'jump the line' commercialization, and assess their applicability to your business model for competitive advantage.
Themes
ai in retailcommunity buildingexperiential retailretail media
As we sit in the middle of conference and expo season, we chat with Alicia Esposito about what she is excited about in retail right now and why, while also discussing the need for humans and community even with the advancement of AI technology. Plus, a special announcement about RICE X Future Commerce June 2023! Listen now for all of this and more!
Frequently asked about this episode
What does this episode say about ai in retail?
Explore new retail media channels beyond traditional online platforms, including connected TV and in-store digital displays, to reach customers at various points of inspiration and drive sales.
What does this episode say about community building?
Focus on creating community-driven retail spaces that foster connection through services, events, or even playful experiences, moving beyond commerce as the sole focus. This can attract and retain customers seeking deeper engagement.
What does this episode say about experiential retail?
Integrate AI tools as ideation platforms to enhance creativity and operational efficiency, rather than solely relying on them for automation. Prioritize applications that genuinely improve customer experience.
What does this episode say about retail media?
Investigate opportunities for collaboration between the artistic and commerce communities to unlock new avenues for experiential retail and product development.
What does this episode say about ai in retail?
Be aware of the evolving landscape of retail innovation, particularly regarding concepts like 'jump the line' commercialization, and assess their applicability to your business model for competitive advantage.
