At the 2024 CommerceNext Growth Show, we asked our industry-leading speakers to leave the audience with three key CommerceNext Steps to take back to the office. These actionable takeaways are designed to help you implement the strategies and insights shared during the conference sessions.
Read on to explore the CommerceNext Steps shared during the main-stage sessions in NYC on June 11-13, 2024.
Day 1: June 11, 2024
Session 1 / Keynote: Fanatics: Creating 10x Growth and a Global Brand Through Culture, Agility and Innovation
CommerceNext Steps:
- Merchandising: Merchandise is the fuel to the engine (assortment, private label, exclusivity, right product, right time).
- Investment: Make the right investments, particularly in the tech stack.
- Culture: Create an internal and external culture that leads to trust and empowerment.
Session 2 / Keynote: How AI-Powered Personalization is Redefining Lifecycle Marketing
CommerceNext Steps:
- AI Decisioning vs. Prediction: AI decision-making determines the next best actions using first-party data, enhancing customer engagement beyond simple predictions.
- Traditional Segmentation Limitations: Traditional segmentation often leads to generic outcomes. AI-driven personalization offers more tailored interactions.
- Data Integration: Combining qualitative (e.g., surveys) and quantitative data (e.g., purchase frequency) is essential for effective AI-powered personalization.
Session 3 / Keynote Fireside Chat: Omnichannel Excellence: From Brick-and-Mortar To Digital Dominance
CommerceNext Steps:
- Customer-Centric Approach: Continuous adjustments based on customer feedback and evolving trends ensure relevance and satisfaction.
- Testing Before Scaling: Regional and store-specific testing ensures successful feature implementation.
- Leveraging Digital Connectivity: Using customers’ digital engagement to improve in-store experiences and overall satisfaction.
Session 4 / Panel: Winning at Omnichannel in a Customer-Led World
CommerceNext Steps:
- Adapting Omnichannel Strategies: Creating shopping experiences that fit customers’ lifestyles and meeting them where they are is crucial for effective omnichannel orchestration.
- Post-Pandemic Engagement: Enhancing in-store engagement and integrating digital experiences with physical stores are essential as customers return to physical shopping.
- Leveraging Technology and Partnerships: Educating store associates, using generative AI and partnering with innovative solution providers enhance customer experiences and drive engagement.
Session 5 / Keynote: Return of the Brand: Using Creative + Technology To Unleash the Full Potential for Growth
CommerceNext Steps:
- Entrepreneurial Culture: Steven Madden thrives on taking big risks for high rewards, fostering an innovative and adaptive company culture.
- Channel Excitement and Data Prioritization: TikTok Shop offers exciting opportunities despite data trade-offs and understanding actionable insights is crucial.
- Unique Store Experience: In-store experiences can be unique and don’t have to mirror online inventory, providing flexibility in customer engagement and inventory management.
Session 6 / Keynote: Hyper-Personalization Made Possible: AI and the Future of Retail
CommerceNext Steps:
- AI-Led Personalization: AI-driven personalization will lead the way in retail, offering opportunities to surprise and delight customers with new features and tools.
- Identify Use Cases: Identify specific areas and pain points where AI can be applied effectively.
- Incremental Testing: Begin with a small test audience, review learnings and apply them as needed to build over time. Follow the “crawl, walk, run” approach by picking a specific part of the funnel and a particular percentage holdout to test for incrementality.
Session 27 / Panel: Driving Ecommerce Growth with Full Funnel Marketing and Measurement
CommerceNext Steps:
- Focus on High-Impact Channels: Prioritize channels and strategies that show clear, measurable results and align with your brand’s strengths and audience.
- Measure Effectiveness Holistically: Use a multi-stage marketing model to evaluate the impact of campaigns, ensuring that each stage from awareness to conversion is effectively tracked and optimized.
- Adapt to AI and Technology Trends: Stay ahead by incorporating AI and emerging technologies into your marketing strategy, but remain vigilant about their impact on traditional channels and metrics.
Session 28 / Keynote Fireside Chat: Unlocking Growth Potential: How To Win CFOs Over to Marketing and Ecommerce Investments
CommerceNext Steps:
- Early Alignment: Align early across initiatives and outcomes to ensure mutual understanding and success.
- Prove Aggregate Growth: Demonstrate how KPIs tie back to overall business growth and market expectations.
- Build Trust: Establish a strong personal relationship between CMOs and CFOs to foster collaboration and mutual respect.
Day 2: June 12, 2024
Session 29 / Keynote: Crafting Organizational Design for Accelerated Digital Transformation
CommerceNext Steps:
- Align Metrics: Define and align digital expectations early to evaluate success.
- Prioritize Relationship Building: Build relationships and understand the company culture before pushing for major changes.
- Test and Bring to Market: Adopt a test-and-learn approach to new ideas, focusing on what tracks and brings value.
Session 30 / Panel: Designing Loyalty Experiences that Cultivate Customer Devotion
CommerceNext Steps:
- Beyond Transactions: Loyalty programs should offer more than just transactional benefits, aiming for a larger purpose or community-building.
- Mapping Loyalty Across the Journey: Consider how loyalty programs fit into the overall customer journey.
- Start Small: Begin loyalty programs with small, manageable initiatives and gradually expand based on customer feedback and success metrics.
Session 31 / Keynote: Mastering Identity and Performance Marketing: The Power of Retargeting With Owned Channels
CommerceNext Steps:
- Customer Engagement: Be intentional with customer engagement, focusing on their lifetime value.
- First-Party Data Collection: Use gamification and mindful touchpoints to collect first-party data without overwhelming customers.
- Integrated Experiences: Ensure a seamless experience between online and in-store, leveraging technology and customer feedback for consistency.
Session 32 / Panel: Unveiling Innovative Strategies for New Customer Growth in 2024
CommerceNext Steps:
- Diverse Marketing Channels: Explore diverse channels like podcasts, CTV/OTT and social media for customer growth.
- Content Repurposing: Repurpose content effectively across different platforms to maximize engagement.
- Data-Driven Growth: Use data insights to identify growth opportunities and tailor strategies to meet customer demands.
Session 33 / Keynote: Harmony in the C-Suite: Bridging the Gap Between CIOs and CMOs for Digital Success
CommerceNext Steps:
- Alignment is Key: Get alignment on goals and strategies.
- Collaborative Partnership: Have fun with what you do and be a partner to colleagues.
- Goal Sharing: Share common goals and work towards them collaboratively.
Session 34 / Keynote: How a Leading MedTech & Life Science Company Unlocked Composable Commerce’s Speed, Scale and Simplicity
CommerceNext Steps:
- Operational Efficiency: Focus on operational improvements and presenting clear forecasts and roadmaps.
- Agile Approach: Establish an agile approach to headless commerce involving all departments for speed and efficiency.
- Customer Focus: Consider customer voice, compliance, legal, business and marketing alignment when implementing technical changes.
Day 3: June 13, 2024
Session 51 / Keynote: Fashion Forward: Walmart’s Strategy to Attract the Next Generation of Shoppers
CommerceNext Steps:
- Assortment Alignment: Ensure your assortment aligns with your target audience.
- Innovative Formats: Test new store formats in relevant areas, such as college towns, to align with the audience.
- Digital Enhancements: Use digital tools like AI, inspirational content and collaborations to enhance the online shopping experience.
Session 52 / Keynote: How Brands & Retailers Can Prepare for the Consumer Journey of 2030
CommerceNext Steps:
- Leverage Unique Strengths: Invest in unique assortment, mobile-first approach, influencer collaborations and community building for organic growth.
- Enhance In-App Experience: Implement highly personalized coupons, live shopping experiences and AI-powered solutions like MAYA to improve user engagement and conversion rates.
- Utilize AI Across Operations: Apply AI in back-office tasks, image recognition, chatbots and fitting solutions to enhance efficiency and customer satisfaction.
Session 53 / Panel: Navigating the Digital Frontier: Strategic Insights on Tech Investments
CommerceNext Steps:
- Tech Excitement: Focus on inclusive beauty tech, quantum computing, edge computing and sustainability in tech investments.
- Organizational Structure: Align teams closely with consumer insights, marketing and other key functions for impactful tech strategies.
- Build vs Buy: Balance building in-house for core skills with partnering for specialized technologies.
Session 63: Fashion Disrupted: SHEIN’s Journey To Become a Next-Gen Brand Leader
CommerceNext Steps:
- Agile Production and Market Adaptation: Rapid production cycles and digital merchandising systems enable quick adaptation to market changes, allowing brands to go from design to sale swiftly.
- Innovative Marketing and Customer Connection: Utilizing an agile, on-demand marketing model and AB testing helps brands connect with customers, gather feedback and expand into new markets while maintaining profitability.
- Gen Z Engagement and Strategic Partnerships: Targeting Gen Z and forming strategic partnerships, such as pop-up shops and return integrations, can enhance customer experience and drive global success.
