We loved getting to meet so many of you at NRF, and to hear you dig into the industry’s hottest topics on the big stage (we know you couldn’t see us—we heard those stage lights were bright!) Narrowing down the top takeaways from all three days was a challenge, but we’ve pulled together a few of the overarching themes that came up in panel after panel.

Personalization and loyalty reign supreme

Loyalty programs and the opportunity to personalize the shopping experience is a key focus for many major retailers this year. That’s in part due to the choppy economic waters they’re steering through as we move into 2023.

The tightening of consumer purse strings and flat inflation-adjusted shopper incomes points to the need for brands to “dial up” loyalty, said Rachel Dalton, head of retailer insights at data analytics company Kantar, who interviewed Target’s EVP and chief growth officer, Christina Hennington, on Tuesday.

• “It’s really about having a constant connection with the consumer and the elements that the consumer expects, even as their needs and wants change,” Hennington said.

In addition to economic challenges, post-pandemic realities also play into the importance of loyalty, said Christopher Thomas-Moore, SVP of customer and store experience at Domino’s.

• “Going through the pandemic, I think we all were seeking connection with people,” Thomas-Moore said during a Monday panel. “That connection translates in a lot of different ways when you talk about what that brand’s connection to their customer is.”
• Personalization is a retail industry buzzword, but it’s multi-faceted, and is ultimately about staying relevant with consumers, Thomas-Moore said.

Maintaining loyalty among today’s consumers means staying ahead of the curve, Hollister’s senior director of brand marketing strategy, Jacee Scoular, explained. “Innovation, in a lot of ways, is that new kind of loyalty,” Scoular said. “Understand why consumers are voting with you, and innovate to keep up with what they expect from you,” she added, pointing to younger shoppers’ expectations surrounding conscious consumerism.

Keep reading here.—MA

This Sunday saw the commencement of NRF, one of the year’s biggest retail conferences, held annually at the Javits Center in New York City.

On the menu were several keynote addresses, including by Macy’s chair and CEO and Saks Off 5th’s CEO and president.

Another important session that took place early Sunday morning—and happened to be moderated by Retail Brew—focused on conscious capitalism and what it means to be a purpose-driven company.

On the panel were top executives from Chobani, Hollister Co., and Nordstrom, each discussing their approach to purpose. From pioneering schemes to aid food access to children and refugees to empowering teens to be business leaders of tomorrow and providing underprivileged kids with a set of shoes, the discussion was wide-ranging.

But don’t worry; ICYMI, we have compiled some of the key takeaways from the session below:

Mark Broadhurst, SVP of communications and impact at Chobani

Looking back at Chobani’s food-access program that helps both children and refugees, Broadhurst told us it wasn’t a question of why the brand was doing it, but “why aren’t we doing more,” he said. “It really starts with the products; you’ve got to have a quality product, and it’s got to sell. That’s at the root of conscious capitalism. So conscious capitalism isn’t just ‘Kumbaya.’ Conscious capitalism is, ‘Let’s make a profit, and let’s do something good for your people, the community in the causes that you are concerned with.”

Jacee Scoular, senior director of brand marketing strategy at Hollister Co.

Scoular spoke of Hollister’s brand agent program targeted at empowering high-school teens with an entrepreneurial spirit, providing them with the right resources and, of course, the money to finance their work.

Keep reading here.—JS

A handful of the events at NRF focused on the luxury industry, from resale and off-price to technology and how consumers are gravitating toward marketplaces. We’re highlighting two of those conversions—with Saks Off 5th, and with Farfetch and Harrods—that underscored how the luxury space has caught up with the broader apparel industry when it comes to personalization and creating seamless shopping experiences.

Like many retailers, 2020 sparked a new era of innovation that has carried over through the holiday shopping season and into the new year. Saks Off 5th CEO Paige Thomas described the holiday shopping season as packed with promotion for discounts as consumers’ budgets tightened.

But the changes over the past three years prepared Saks Off 5th for last year’s holiday rush. For example, Saks did not have a mobile app when Thomas started in 2020. Plus, the company rolled out a tiered loyalty program this year that can be used online or in store.

• “I think that’s the critical focus: to differentiate yourself within the retail environment,” she said. “How quickly [are you] getting product to customers? Are you making all the friction points of the customer journey, from the terms of the store to the time of delivery?”

And Saks could see more customers enter its new digital-first ecosystem, as Thomas previously told Retail Brew that she believes the “trade down” effect will carry into 2023.

A helping hand: Online luxury fashion platform Farfetch went into detail on its partnership with Harrods, a London-based department store. The deal was struck before the pandemic, but Harrods managing director Michael Ward said the partnership has paid off in the new retail landscape.

With the partnership, Harrods has access to Farfetch Black & White, the platform’s suite of commerce solutions and retail technology that includes e-commerce management, operations support, internal logistics support, and technical support.

Keep reading here.—KM

Today’s top retail reads.

Take flight: The return of travel to pre-pandemic levels has created a sort of renaissance for airport retail, as brands like Chanel, Louis Vuitton, Dior, and Saint Laurent are opening new outposts and boutiques across the world. (WWD)

Friend or faux? Companies claim that shoplifting is on the rise, leading to merchandise loss or “shrink.” But some of the numbers paint a more nuanced picture that sometimes involves organized retail crime, human error, and damaged or mismarked items. (CNN)

Mr. Automatic: Ahold Delhaize USA CIO Rom Kosla offers insight into how his company weighs technological solutions in the grocery world and what the future holds for a space that’s ripe for opportunity. (Progressive Grocer)

The numbers you need to know.

Fellow hypebeasts, this one’s for you.

StockX released its annual report detailing the most popular brands sold on the platform, while also shedding light on how the company as a whole performed in 2022.

StockX surpassed 1.5 million lifetime sellers, 12 million buyers, and 40 million lifetime trades last year. It also turned away $100 million in products that did not meet its verification standards.

• Plus, international sellers accounted for almost half of all StockX exchanges, a 25% bump from 2021.

“Our seller community thrived this year, and even with a tough economic backdrop, demand for current culture products didn’t waver,” Scott Cutler, StockX’s CEO, said in a statement. “2022 brought new wins for our business.”

The five best-selling sneaker brands include most of the usual suspects: Nike, Jordan Brand, Adidas, New Balance, and Converse. However, brands such as Salomon and Hoka emerged as some of the fastest-growing, rising brands on the platform. The former saw a 2,277% increase in trades last year.

And Supreme no longer reigns supreme in apparel as Fear of God took the No. 1 spot in the category for the first time in StockX’s history. Moncler and Aimé Leon Dore grew dramatically in the category last year, 511% and 265%, respectively.—KM

Catch up on the Retail Brew stories you may have missed.

• Some off-price retailers are poised to thrive in 2023
• How the Brannock Device became a fixture in shoe stores
• Does Twitch have a leg up on live shopping?