Nexla Announces Withdrawal From the NRF Conference and Predicts 2022 to Become the Most Innovative Retail Year in History
Retail companies made more dramatic innovations in 2020 and 2021 than they did over the past 20 years.
Nexla announced today that in order to keep its employees and customers safe from the Omicron variant, it will withdraw from participation in the annual National Retail Federation (NRF) Retail’s Big Show happening January 16-18 in New York City. The NRF is a highly respected retail industry organization and its annual conference is the premier event of the year for leading retailers across the U.S. and globally.
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- The NRF conference has attracted the nation’s leading retailers (Target, Best Buy, Lowe’s) and hosted up to 40,000 participants annually prior to the pandemic.
- With the pandemic spiking participation is expected to fall by nearly 80% to as low as 8,000 attendees.
Nexla’s CEO Saket Saurabh, formerly of Nvidia, asserts that this withdrawal does not necessarily symbolize more severe turmoil for the already buckling retail sector but an opportunity for much needed radical innovation in the space.
Nexla is a Gartner 2021 Cool Vendor award recipient and its customers include Bed, Bath & Beyond, Poshmark, LinkedIn, Freshworks, and Instacart. The company helps retailers integrate, transform, and monitor all of their data (inventory, orders, shipment, delivery, and more) from one single, seamless, unified platform in real time.
Nexla helps retailers reduce risks and bottlenecks in order fulfillment, inventory management, and shipping and maximize revenue.
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“2022 is set to become the biggest retail year in history. But not in the way we expect it,” says Saurabh. Here are his insights:
- NO MORE AMAZON FEARS – The days of worrying about Amazon as a dominant competitor are over. In fact, many retailers in 2022 today can assemble comparable types of plug-and-play order fulfillment, AI, delivery, and analytics technologies around their business that Amazon has and offer the same exceptional customer service experience as the Internet behemoth. In short, retailers don’t have to be experts in everything anymore.
- RADICALLY FAST PROGRESS – Retail companies made more dramatic progress in two years – 2020 and 2021 – than they did over the past 20 years. 2022 is positioned to become one of the most innovative years ever. While key retail technologies we see now were available years ago (e.g. real time data and AI, same day delivery, and more), few companies actually adopted it until they absolutely had to during the pandemic.
- METAVERSE ADOPTION – Because of Covid, the in-person shopping and discovery experiences we enjoy were hampered. In 2022, the lure of creating a hyper-personalized shopping experience in the metaverse for customers will become a megatrend that all retailers will start to adopt to build trust, excitement, and community with their customers.
“The pandemic has pushed retailers past the technological point of no return—and is changing business forever,” says Saurabh. “As retailers continue to navigate the effects of the pandemic, including hesitant consumers, supply chain and talent shortage woes, they are under increased pressure to expedite their digital transformations and improve their data governance frameworks.”
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