This article was based on the interview with Kristin Schoenstein and Elizabeth Robillard from eTail Palm Springs by Greg Kihlström, marketing technology keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:
Artificial intelligence (AI) is pushing retailers to digitize their operations. Kristin and Elizabeth from eTail Palm Springs emphasized the need for a robust and seamless backend technology system in order to unlock the full potential of AI. This includes having great data that is not siloed, as well as streamlining back-office processes.
Kristin and Elizabeth express excitement about how AI is pushing retailers to digitize on the backend and make their data more clean. This focus on digitization and data cleanliness is seen as a way to set a standard and baseline for efficient operations. It is believed that this will lead to cost savings, innovation, and overall improved efficiency.
The podcast also touches on the competitive pressure and customer expectations that are driving retailers to innovate and find better ways to operate. The speaker mentions the importance of sustainable growth and finding new paths for growth. This includes exploring partnerships, retail media networks, global expansion, and the continued importance of physical stores.
Regarding retail media networks, the speaker notes that many retailers are investing in or creating their own networks to expand their reach and access data. With the decline of third-party cookies and privacy restrictions, retail media networks are seen as a way to get in front of new, targeted audiences. The speaker encourages retailers to do their research and find the network that makes sense for their brand.
The interview highlights the continued importance of omnichannel focus for retailers. It is no longer just a trend but a necessary strategy to meet customer expectations and stay competitive. Additionally, the impact of AI on the retail industry is still being explored, but it has the potential to revolutionize various aspects of the business. Retailers need to stay informed about the latest advancements in AI and find meaningful ways to incorporate it into their strategies to drive success in the evolving retail landscape.
