Topics such as AI-powered Promotions will be an Important Focus for Retailers
Retailers, industry experts and leading experts from around the world will gather for Revionics’ 10th annual forum, Insight 2019, on September 15-18, 2019, in beautiful San Diego, California to discuss game-changing retail trends, learn about the latest in AI-driven pricing, promotion and markdown solutions and connect for valuable peer-to-peer networking.
This year’s theme — Adapting to the Velocity of Change — goes straight to the true state of the retail industry. With retailers competing on so many levels and with Amazon and big box retailers always looming over them with the next innovative retail strategy to win over shoppers, retailers have learned that they must adapt and react with agility to fast-changing shopper and competitive environments. This can be outright daunting, challenging and, if not done right, costly.
One topic that will be top-of-mind for retailers will be AI-powered promotions. given that Amazon’s Prime Day was expanded to 2-days and deemed extremely successful this year — with 175 million items sold. In addition, the holidays are right around the corner. In fact, according to a shopper study conducted by Forrester Consulting, commissioned by Revionics, promotions are key for swaying shopper behavior.
The Forrester study showed:
- Shoppers will shop in a different channel than planned to take advantage of a promotion
- 70% of shoppers seek out a promotion prior to buying a product
- Without a discount, or promotion, fewer than 20% of shoppers will make a purchase
These findings underscore the importance of getting promotions right, the first time, in order to grow profits, margins and enhance competitiveness.
INSIGHT 2019 Featured Speakers Include:
- Jim Carroll, Futurist, Trends and Innovation Expert, will be speaking on: Aligning to Acceleration: Innovating in Retail the Era of Relentless Velocity
- Trevor Gormley, Founder and CEO, Millennial View, will be speaking on: Moving at Millennial Velocity: Gaining a Retail Competitive Edge
- Steve Dennis, President, SageBerry Consulting, all be speaking on: The Journey to Remarkable: Reimagining Retail In The Age of Amazon
The Power of Peer-to-Peer Interaction
One of the many valuable features of Insight is the opportunity for retail executives to connect and discuss winning strategies, challenges and the mistakes they have learned from. Revionics ensures there are plenty of networking events and something for everyone. This year, the events include: a golfing trip to Torrey Pines, a La Jolla sightseeing tour, a welcome reception, networking luncheons, a retail Rockstar beach bash, a night at the safari park and a farewell happy hour. For more details around these events, click here.