NEXT was in attendance for the The Retail Industry Leaders Association (RILA) event in Dallas, Texas. The event attracts a large number of Retail supply chain executives looking for solutions to maximize efficiency and increase ROI.
For two days, top executives in retail participate in roundtables, panels and network to discover the latest industry trends and insights.
Some of the best moments from LINK2020 came from keynote speakers such as Nancy Giordano (CEO, Play Big Inc.) who spoke on Navigating the Big Shift in Tech, Society, and Supply Chain. Giordano zeroed in and two key factors:
- The impact of Gen Z on previous generations of consumer behavior
- The value of social impact/sustainability in company brand and culture
Another keynote highlight came from Chip Bergh (CEO, Levi’s) – on Enterprises developing additional revenue streams and growing with changing culture. These presentations we both part of a larger trend in showing how supply chain will be impacted by tech and new societal norms. Bergh highlighted these areas:
- Gen Z has changed behavior from consumerism to sustainability (profits through principles)
- Gen Z is requiring companies like LEVI’s to develop additional revenue streams (clothing alterations and subscriptions vs. traditional retail or online shopping)
- Enterprises are opening internal incubators/innovation labs instead of outsourcing to wholesalers, big tech, etc.
Given the current news, a hot button issue everyone was discussing is the how the current coronavirus outbreak will continue to affect the global supply chain. Many industry executives are asking how will the outbreak affect consumers and how can the retail and supply chain industry develop a strategy around coronavirus? Only time will tell as to how much impact the outbreak will have on retail heading into spring and peak season.