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| NRF SmartBrief Special Report |
| January 28, 2009 |
A look back at Retail's BIG Show
NRF's 98th Annual Convention & EXPO
NRF's 98th Annual Convention & EXPO was held Jan. 11 to 14 at the Jacob K. Javits Center in New York City. Retailers and vendors came from around the globe to experience, learn and network at Retail's BIG Show. The theme of this year's show was "Inspiration Starts Here," a message that is especially crucial as retailers face the challenges of the economic climate.
The highlight of this year's show undoubtedly was Wal-Mart President and CEO Lee Scott's final public remarks. Scott addressed the critical issues retailers are facing, including the economy, the card-check bill and going global -- and also touched on his legacy at Wal-Mart.
Other BIG Show highlights include the concept stores, new technologies on the EXPO floor, and a diverse selection of educational sessions that focused on topics ranging from global trends to digital retailing to sustainability practices.
To read more about what happened at this year's convention, check out the NRF blog and photographs from the event. Also, many of the convention's handouts are available to download.
NRF SmartBrief's Special Report on the BIG Show offers a look back at the show coverage.
Recession might alter retail environment, customers' habits
The recession is likely to lead to long-term changes in the retail landscape -- and in customers' habits, analysts say. Shoppers will flock to stores that have a wide variety of merchandise, such as Wal-Mart and Macy's, and retailers might end up buying vendors. The Wall Street Journal/Dow Jones Newswires (1/13)
In-store interactive marketing featured at NRF BIG Show
In-store interactive marketing ruled the NRF convention. Among the innovations was a music store that enables people to record their own songs and download them as MP3s. Check out this Ad Age Original Video. Advertising Age (tiered subscription model) (1/14)
Mullin: For shoppers, price is No. 1
Shoppers are counting price as the most important factor in determining what and whether to buy, NRF President and CEO Tracy Mullin says. "Factors like quality, selection, store location and customer service are taking a back seat," she notes. Reuters (1/11)
Neiman Marcus finds alternative to discounting
At the NRF convention, Neiman Marcus' CEO discussed the company's strategy for surviving the slump without relying on discounting. The retailer is targeting its biggest spenders with smaller store events. The Wall Street Journal/Dow Jones Newswires (1/14)
Other News
Concept stores test interactive, green ideas
Two concept stores designed for this year's NRF EXPO indicate future retail shops will be more interactive and environmentally conscious. Some of the ideas explored included touch screens, in-store satellite concerts that measure how loud audiences are at various locales, and green electronics that offer paperless receipts or provide environmental footprints of products. NY1 (New York City) (1/14)
Will Ander: "Investments in green pay off"
Will Ander, author of "Greentailing and Other Revolutions in Retail," presented a session on sustainable retailing at the NRF Annual Convention this month. In this interview, Ander talks about how innovation is speeding up change, the perception that it is expensive to go "green," and how "greentailing" can be good for marketing. Retail's BIG Blog (1/7)
Tesco.com's chief discusses multichannel strategy
At the NRF 98th Annual Convention & EXPO, Laura Wade-Gery, chief executive of Tesco.com and Direct, discussed how the company's online grocery business has grown to become a huge success. For example, Wade-Gery said Tesco.com uses crates rather than plastic bags to deliver food after receiving complaints from environmentally conscious shoppers. Retail's BIG Blog (1/12)
E-retailers look overseas for growth
About half of U.S. retailers are accepting online orders from China and India -- markets that present shipping and payment challenges. Still, as companies look for growth overseas, few are taking payment options popular in the counties they're expanding into. Internet Retailer magazine (1/2009)
Ranking puts value on brands
Interbrand Design Forum has ranked the 50 most valuable U.S. retail brands, a list that includes only public retailers and not restaurants. Some interesting points to note about the list: Whole Foods is the only grocery retailer on it, American Girl has a brand value of $641 million, and Netflix is one of a few online-only retailers named. Retail's BIG Blog (1/15)
Research: Brand built on more than just the logo
Author Martin Lindstrom told retailers they need to create brands that can stand on their own, instead of relying on logos, often the least powerful tool. This research is based on neuromarketing. Retail's BIG Blog (1/11)
Retail CEOs plan for conservative year
CEOs for retailers such as J.C. Penney and Macy's are planning to act conservatively as they expect to have to struggle at least in the first six months of this year, they said at the NRF convention. "We're a little puzzled as to how to plan the first half of the year with the second half because obviously in '08 [there was a] continued decline" in sales, J.C. Penney's Myron "Mike" Ullman said. "So you wonder how Draconian you should be on the back half. But we will be conservative in our business." Reuters (1/13)
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