GfK recently had a large presence at Shoptalk which had 8500+ attendees. – Up 50% since 2017. The conference objectives are to: Educate retailers, brands, startups, tech companies, investors, media analyst to come together to learn, collaborate and evolve on how to discover, shop and buy.
Some high level takeaways from Shoptalk:
- Explosion of Grocery, Ocado and Fresh Direct – ecomm online grocers shared best practices. AmazonGo shared how their customers shop and buy with no checkout using ApplePay etc.
- Increase of Private Label in major retailers to further differentiation – Private Label now accounts for 30% of sales and growing with all industries affected 1. Grocery/Food 2. Beauty, Makeup, Skincare, Fragrance 3. Apparel 4. Footwear 5. Appliance/housewares 6. Consumer electronics 7. Mattresses/bedding 8. Pet Food 9. Vitamins/supplements 10. Web Hosting 11. Automotive
- Big focus on how Marketplaces are using AI and how Brands are leveraging Omnichannel with related use cases.
- Image Search – evolution where consumers no longer need to search on text keywords but images to find product. Presentations from Facebook and eBay covered the various AI options on how people shop and new technologies.
- eBay is creating new experiences: 1) Intent Detection 2) Pricing Intelligence 3) Computer Vision 3) Natural Language Processing 4) Voice 5) Personalization 6) Imaging Insights
- World is officially now mobile. Example: 2.13B people use Facebook, 90% use mobile, 6M advertisers on Facebook, 69% mobile conversions on Facebook for Black Friday.
- 56% of store purchases are influenced by digital – Of those 66% are mobile. On average, consumers look at their phone 80x per day.
- 79% of consumers would rather watch a video to learn about a product then read text on a page