The retail tipping point. Are you ready?

The competitive landscape is tougher than ever before, with retailers fighting for a share of consumers wallets. But shoppers are also expecting more.

According to McKinsey, 76% of consumers now demand personalised interactions and 71% express frustration with impersonal shopping experiences.

Retailers must, therefore, act fast to keep consumers on side.

The emergence of technologies including generative AI and advanced data analytics coupled with the evolution of marketing and ad management and customer engagement poses new challenges as well as opportunities and so retailers must adapt or risk falling behind.

The upcoming AWS Retail & Consumer Goods Symposium: London brings together industry leaders to address these challenges head-on, offering insights into how successful organisations are achieving up to 30% higher customer retention rates through digital transformation.

A technological transformation

The rise of generative AI represents perhaps the most significant shift in retail operations since the advent of ecommerce.

Leading retailers are already leveraging Gen AI to transform everything from customer service to supply chain optimisation, creating more responsive and efficient operations that better serve today’s demanding consumers.

At the Symposium, the advertising industry pioneer Sir Martin Sorrell will explore how this technology is revolutionising digital advertising and customer engagement.

Transforming to triumph

The integration of physical and digital retail experiences, building agile and cost-efficient platforms and delivering on your brand promise are all now non-negotiables.

However, modernisation and composable commerce architecture is enabling retailers to create seamless omnichannel experiences that meet customers wherever they shop.

Keynotes from industry leader including Dan Finley, group chief executive at the Debenhams group and Holly Hall, managing director at the MACH Alliance will demonstrate how businesses are evolving to build unique experiences.

Leaders from East of England Co-op, Waitrose and Trust Retail will participate in an innovative discussion on collaborative excellence. This session will explore the evolution of physical retail, acknowledging its continued dominance with 80% of purchases still occurring in-store, according to the US Census Bureau.

Creating a better future

Sustainability has emerged as a critical component of the retail strategy, no longer separate from digital transformation but intrinsically linked to it.

Technology now enables more sustainable operations while meeting customer expectations for environmental responsibility.

This intersection of sustainability and customer experience represents a key opportunity for retailers to differentiate themselves in an increasingly competitive market.

The path forward requires careful navigation of these transformative trends. There has been an increase in mergers and acquisitions, and economic activities around private equity partnerships and leveraging strategic investments to build, scale and future-proofing their operations while maintaining focus on customer value.

The session with private equity will focus on insights from private equity partners on how they envision retailers can work with private equity to deliver value for all.

The AWS Retail & Consumer Goods Symposium offers retail and consumer goods leaders a unique opportunity to explore these critical developments and connect with industry experts who are successfully navigating the retail tipping point.