NRF’s ‘Big Show’ 2023 in New York earlier this month was an absolute triumph for Nibble.
Hundreds of conversations had, dozens of new connections made, and the flattery of being told repeatedly that we were “the most innovative thing we’ve seen today.”
So why was there such excitement around our booth?
It wasn’t just that AI negotiation in ecommerce is genuinely innovative. Nor was it just the impact we could show on conversion rates, margin protection or customer engagement. It was also that AI was the unofficial but undeniably dominant theme of the entire show.
It was clear that this year a chasm has been crossed. Retailers now recognise that AI has the unrivalled opportunity to immediately solve the challenges they have been tackling for years – whether for predicting trends, communicating with customers, or of course for pricing.
In fact, the title of Forbes’ article recapping the show – in which we were quoted alongside the NRF itself, Macy’s, Sony and Google – sums it up perfectly: “Retailers are looking for ways to sell smarter in 2023 and beyond.”
But the reason we are most excited is that this is clearly not 'flash in the pan' interest in the latest fashionable trend.
Retailers' challenges are intensifying. They are under pressure from consumers' increasing price sensitivity, surplus stock eating into margins and increasing competition. Meanwhile, AI's capabilities are expanding to meet these challenges. Just look at the buzz around Generative AI and ChatGPT and its potential to transform customer service, and more.
AI has come of age in retail. And NRF showed us that innovation is by no means only for the forward-thinking minority - it has become the norm.
Check out Rosie’s interview from “Backstage at NRF” for more on this, and what else made NRF such a success:
Look out for us at ShopTalk Las Vegas from 26th to 29th March, or if you can’t wait that long, join us next week for a webinar on discounting strategies for 2023: “Promotions that get people excited again”
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