{"id":106921,"date":"2024-01-09T15:53:41","date_gmt":"2024-01-09T20:53:41","guid":{"rendered":"https:\/\/envistacorp.techyscouts.dev\/?p=106921"},"modified":"2025-04-02T08:59:57","modified_gmt":"2025-04-02T12:59:57","slug":"what-are-retail-leaders-thinking-ahead-of-nrf-2024","status":"publish","type":"post","link":"https:\/\/envistacorp.techyscouts.dev\/en-au\/2024\/01\/09\/what-are-retail-leaders-thinking-ahead-of-nrf-2024\/","title":{"rendered":"What Are Retail Leaders Thinking Ahead of National Retail Federation Retail\u2019s Big Show 2024?"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"106921\" class=\"elementor elementor-106921\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-850df5d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"50268\" data-id=\"850df5d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"aux-parallax-section has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4a43fa74\" data-eae-slider=\"98885\" data-id=\"4a43fa74\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e452aac elementor-widget elementor-widget-image\" data-id=\"e452aac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"1418\" src=\"https:\/\/envistacorp.techyscouts.dev\/en-au\/wp-content\/uploads\/sites\/4\/2024\/01\/Retail-Market.png\" class=\"attachment-full size-full wp-image-106922\" alt=\"Infographic titled Retail Market Key Insights Survey Results shows statistics: 69% prioritize master data management, 50% are starting data management, 67% plan AI initiatives, and key challenges include WMS integration, organizational resources, and planning.\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-68b30865 elementor-widget elementor-widget-text-editor\" data-id=\"68b30865\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p>The National Retail Federation\u2019s (NRF) annual conference, Retail\u2019s Big Show, is just days away. We decided to ask retail industry leaders what is on their minds going into the show and what big-picture plans they have for the next few years. We are excited to share with you what they said!<\/p>\n\n<h1 id=\"h-artificial-intelligence-and-master-data-management\" class=\"wp-block-heading\">Artificial Intelligence and Master Data Management<\/h1>\n\n<p>We asked retail leaders to tell us about their company\u2019s <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7134906008073633792\">highest priority strategic initiative for the next one to three years<\/a>, and 62 percent of respondents stated that master data management (MDM), advanced analytics and artificial intelligence (AI) were at the top of their list. We also asked about their <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7140705010857750529\">highest priority retail planning initiative<\/a>, and 67 percent said it was to introduce AI. Finally, when asked about their <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7147948569256210432\">primary goals during NRF<\/a>, 50 percent stated that they were looking forward to speaking and learning about master data management.<\/p>\n\n<p>enVista\u2019s Vice President of Retail Consulting, Julie Cheney, was not surprised by these results, saying that many of the retailers she works with have inquired about introducing AI to their organisations. Julie said, \u201cAI is sweeping the country right now, and retailers are more eager than ever to learn how they can leverage it to enhance their operations. However, you can\u2019t have AI without proper master data management. It is heartening to see that respondents seem to have equal eagerness toward MDM, and I\u2019m excited to see what great things will happen within their organisations over the next few years.\u201d<\/p>\n\n<h1 id=\"h-state-of-retail-organisations\" class=\"wp-block-heading\">State of Retail Organizations<\/h1>\n\n<p>Retailers have undergone significant change in the last few years, and we wanted to know where they stood now going into 2024. We asked retail leaders what factors they feel might <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7137817604433313792\">challenge their strategic initiatives<\/a>, and 56 percent said organisational resources were their biggest concern. Of course, with the way that labour constraints have been impacting retailers, distributors and manufacturers across all industries, there is no question why organisational constraints may be impacting retail leaders\u2019 outlooks. Most retail planning initiatives require additional people, processes and technology, and these resources are not always available. This is why it is critical to define your organisation\u2019s key objectives and determine what initiatives are absolutely necessary to achieve those objectives.<\/p>\n\n<p>Finally, we asked retail leaders about the <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7143243068253560832\">maturity of their planning functions<\/a>, and 29 percent of respondents stated that they had siloed activities and teams, while 43 percent said they had cross-functional collaboration. If you\u2019re pursuing initiatives without considering the entirety of your organisation, you will likely experience siloes. Our retail consulting and technology experts are looking forward to sharing how retail leaders can achieve their planning goals in 2024 while maintaining synergy, efficiency and productivity.<\/p>\n\n<p>Learn more about how you can interact with <a href=\"https:\/\/web.envistacorp.techyscouts.dev\/2024-nrf-pre-show?utm_content=277759652&amp;utm_medium=social&amp;utm_source=linkedin&amp;hss_channel=lcp-29873\">enVista at NRF 2024<\/a>! Visit our website and schedule a meeting today.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>With NRF&#8217;s Retail\u2019s Big Show upcoming, enVista polled retail industry leaders what is on their minds going into the show. Learn more here.<\/p>\n","protected":false},"author":22,"featured_media":117293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_searchwp_excluded":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[3475],"tags":[4020,3515,4344,4022],"class_list":["post-106921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-retail","tag-retail-consulting","tag-retail-strategy","tag-retail-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Retail Leaders&#039; Insights Ahead of NRF 2024 | enVista<\/title>\n<meta name=\"description\" content=\"With NRF&#039;s Retail\u2019s Big Show upcoming, enVista polled retail industry leaders what is on their minds going into the show. Learn more here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/envistacorp.techyscouts.dev\/en-au\/2024\/01\/09\/what-are-retail-leaders-thinking-ahead-of-nrf-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retail Leaders&#039; Insights Ahead of NRF 2024 | enVista\" \/>\n<meta property=\"og:description\" content=\"With NRF&#039;s Retail\u2019s Big Show upcoming, enVista polled retail industry leaders what is on their minds going into the show. 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