NRF 2022: Technology That's Shaping Retail

The National Retail Federation (NRF) holds its Big Show event every year. Retailers far and wide come together to discuss current industry trends, share the latest and greatest technologies and predict the future of retail. Despite concerns over rising COVID-19 cases with the new Omicron variant, the show must go on.

This year's NRF 2022 was held at the Javits Center in New York City. It ran from January 16 to 18 and featured major retailers such as Target, Samsung, Ralph Lauren, Walmart and Salesforce, to name a few. Even smaller retailers and tech startups were featured, showing how the event caters to more than just household name brands.

Continue reading to learn more about some emerging retail technologies that could enhance customer experience (CX) in the retail industry. 

Examples of Exciting Retail Technologies From NRF 2022

It's certainly been an interesting few years for the retail industry. On top of the damage from the COVID-19 pandemic, retail companies have to find new ways to achieve compliance and increase supply, especially with the rising popularity of e-commerce.

Thankfully, new technologies can be leveraged to increase sales, bolster brand recognition, create immersive experiences for customers, and more. Let's explore what technologies were featured at NRF 2022 and how they're helping to shape the retail landscape for a digital future.

Shopping in the Metaverse

You've likely heard of the metaverse, which is being described as an omnichannel environment where consumers can use augmented reality (AR) and virtual reality (VR) to engage with their surroundings and other consumers. 

It's quite an advanced concept, and multiple companies showcased their latest developments regarding the metaverse. For example, Nikeland space by Nike was featured, which is a digital space based on the popular video game Roblox. Additionally, Ralph Lauren introduced a partnership with Zepeto, a global social networking and avatar simulation app, to provide customers with a virtual shopping experience.

iMirror

NOBAL Technologies created an interactive mirror shopping solution for brands looking to change consumer behavior in brick and mortar retail locations. iMirror provides intelligent mirror displays that allow customers to experience:

• Virtual try-on features
• View a digital catalog
• Interact with certain brands' social media feeds
• Shop recommended products
• Take selfies
• Find out about upcoming brand events or shows
• Get in touch with a sales associate

NOBAL aims to use innovative measures to help reduce shrinkage and basket abandonment. The company has already worked with brands like Asda, Puma and Tommy Hilfiger.

Zliide Tags

With Zliide Tags, customers can engage in a frictionless checkout experience. Zliide Tags are attached to products, similar to existing security tags that need to be removed at the checkout counter. Customers scan the Zliide tag on the Zliide app to see information about the product itself. 

This will help customers make their purchasing decisions and give sales associates more time out on the sales floor. Customers pay for their items through the Zliide app, eliminating the need to go through the traditional checkout process. 

After purchasing a product, the tag unlocks on the spot and customers can drop them in marked bins near the store's exit. They then receive a digital receipt. It's a simple, efficient way to increase sales and meet customer expectations.

Shelf Advertising Robots

Tokinomo, an in-store advertising robot, puts products into the spotlight and offers revolutionary brand communication at the point of sale (POS). The robot brings a sense of life to products. When customers interact with them, they're left with a memorable marketing experience. Here are some of Tokinomo's main features:

Movement: A built-in swing arm will present products to customers, and retailers can customize the robot's movement and even make it dance to a jingle.

• LED Light: Tokinomo uses an LED light from above to enhance the aesthetics of products. 
• Sensor Detection: When customers approach a product on the shelf, Tokinomo's sensors react to create an engaging, interesting interaction with the customer.
• Sound Messaging: Brands can connect with customers using Tokinomo's customizable audio messages.
• Connectivity and Remote Access: Each robot on the shelf is connected to data servers. Retailers can remotely access real-time data and change settings on the shelf robots without managing each robot individually. 

On its website, Tokinomo has case studies that show using the product can lead to a 200% increase in sales. 

Some notable pieces of tech were featured at NRF 2022. These, among others, are expected to bring many benefits to the retail industry. Customers can look forward to reaping the benefits of new, advanced technology during their in-person shopping experience.

Expect More Retail Tech in 2022

The NRF is always at the forefront of new retail technology. It's only a matter of time until some of the items listed above become commonplace within the retail industry. Keep an eye out for some of these emerging technologies, as they're sure to make a significant impact in the future.