Top 10 Predictions for Retail in 2024 with Ben Miller, ShopTalk

S4:E1 – Top 10 Predictions for Retail in 2024 with Ben Miller, ShopTalk

In this episode of the Retail Razor Show, hosts Ricardo Belmar and Casey Golden kick off season 4 by discussing their top 10 predictions for the retail industry in 2024. Amid personal anecdotes and a tribute to Ricardo's late father, the episode dives deep into the future of retail alongside guest Ben Miller, VP of Original Content and Strategy at Shoptalk & Groceryshop. Key predictions include the Temu-fication of retail, the evolution of Retail Media Networks (RMNs) and their impact on digitizing physical stores, the integration with streaming and social commerce platforms, and the re-emergence of heritage brands leveraging digital commerce. The conversation also touches on the increasing consumer expectations around sustainability versus the temptation of low-cost options like Temu, the potential of AI in enhancing customer experience and operational efficiency, and the death of the term 'Omnichannel' in favor of 'Unified Commerce' to better represent seamless retail experiences. The episode concludes with a look forward to the Shoptalk event and the importance of staying ahead in a rapidly evolving retail landscape.

Meet your hosts, helping you cut through the clutter in retail & retail tech:

Ricardo Belmar, a RETHINK Retail Top Retail Expert for 2024, 2023, 2022 & 2021, RIS News Top Movers and Shakers in Retail for 2021, advisory council member at George Mason University’s Center for Retail Transformation, and director partner marketing for retail & consumer goods at Microsoft.

Casey Golden, CEO of Luxlock, RETHINK Retail Top Retail Expert for 2024 and 2023, and Retail Cloud Alliance advisory council member. Obsessed with the customer relationship between the brand and the consumer. After a career on the fashion and supply chain technology side of the business, now slaying franken-stacks and building retail tech!

Includes music provided by imunobeats.com, featuring Overclocked, and E-Motive from the album Beat Hype, written by Hestron Mimms, published by Imuno.

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Host → Ricardo Belmar,

Follow on Twitter - https://bit.ly/twRBelmar

Connect on LinkedIn - https://bit.ly/LIRBelmar

Co-host → Casey Golden,

Follow on Twitter - https://bit.ly/twCasey

Connect on LinkedIn - https://bit.ly/LICasey

00:00 A Personal Tribute and the Power of Inspiration

01:40 Show Intro

03:14 2024 Predictions with Ben Miller

04:23 Prediction #1: The Temu-fication of Retail

09:18 The Evolution of Retail Media and Digitization of Physical Stores

12:48 Retail Media Networks and the Future of Advertising

15:48 Social Commerce: The Next Frontier in Retail Media Disruption

19:03 Prediction #5: The Resurgence of Heritage Brands in the Digital Age

28:10 Prediction #6: AI's Growing Influence in Retail and Its Tangible ROI

31:09 The Evolution of Frontline Retail: AI-Augmented Engineered Influencers

35:21 Prediction #8: The...