Last week, we joined thousands of leaders at Shoptalk 2022 to discuss and learn about the innovations driving the future of retail. We were incredibly inspired by the discourse around everything from digital transformation to sustainability and more.
Charlie Ifrah, Co-Founder and Chief Product Evangelist at INTURN, takes a look back at some of the biggest takeaways from Shoptalk this year.
Shoptalk 2022 Q&A with Charlie Ifrah
Q: Shoptalk 2022 was exciting in a lot of ways. It’s one of the biggest retail events back in full swing since the start of the pandemic, and we’re seeing a ton of innovation across all aspects of retail in response to supply chain disruptions and new trends. What did you feel were some of the biggest highlights of the conference?
Charlie Ifrah: First, there was a lot of excitement at the event. People were talking about it in every conversation, “Can you believe we’re back?” I think everyone collectively felt enthusiastic to interact and learn from each other in-person again.
On the expo floor, you really got the sense that digital transformation is very top of mind for all companies. We saw everything from robotics in warehouse fulfillment to new payment systems and the digital enhancement of in-store user experiences. We would often hear about companies trying to gain more supply chain visibility, or to improve efficiency and get rid of old processes around email and spreadsheets. This resonated very strongly with us, since this is what INTURN ultimately aims to help brands achieve.
Q: Let’s talk about the Sustainable Technology Solutions panel, in which you joined other leaders to discuss innovations in retail sustainability. What are brands currently doing to overcome sustainability challenges, and how does INTURN 360 fit into the picture?
Charlie Ifrah: The spotlight was great, as it really showcased how brands can operate more sustainably at different stages of the supply chain. We covered everything from sustainable packaging to how brands can measure carbon footprint and how they can better track the supply chain in accordance to ESG standards.
While many solutions often focus on earlier stages of the supply chain, INTURN 360 really focuses on helping brands extend the lifecycle of finished goods. Even with the best planning solution in place, excess inventory is inevitable due to uncontrollable external factors. If brands are unable to efficiently move this inventory into other channels, it’s unfortunately often destroyed or discarded in a way that harms the environment. It’s our goal to help brands identify and move aged inventory earlier in the lifecycle to avoid unnecessary waste and destruction.
Q: What are leaders across retail prioritizing right now to position themselves for the future?
Charlie Ifrah: Digital transformation is the most important thing to stay relevant—specifically, in the area of machine learning / AI and automation. It’s more critical than ever for brands to have full visibility into what’s happening at each stage of the supply chain, and to have the tools in place to quickly adapt to disruption or changing circumstances. Building an agile and resilient supply chain is the biggest focus for leaders in retail today.
Q: What’s your personal takeaway from Shoptalk 2022? How do you envision incorporating these learnings into the future growth and evolution of INTURN?
Charlie Ifrah: There are still a lot of problems in the supply chain to be solved, and we’re still in the early stages of new technology being introduced into our industry. Leaders recognize that legacy products and behavior persist within their organizations, but there is a big awakening within the industry that they’re going to fall behind their competition if they don’t make changes fast. Everybody is eager to understand what digital transformation means to them and how to execute on it.
Another big takeaway from Shoptalk is the importance of integration and connecting all of your core systems. Every single panelist on the Sustainable Technology Solutions panel spoke about ensuring access to multiple data sources in order to have the full picture. Not having full access is detrimental, and most of these new solutions are focused on enabling more intelligent decisions by providing their users with as many data points as possible.
This strongly aligns with INTURN’s current vision and focus, as it’s our goal to provide brands with greater inventory visibility and insights to help them more effectively identify, manage, and sell slow-moving and excess inventory.
INTURN 360 is helping leading brands worldwide sell excess inventory faster, maximize margin recovery, and achieve zero waste. Our solution provides brands with full inventory visibility across the supply chain, enabling teams to streamline their workflows and recover cash faster. Reach out to learn how INTURN 360 can help your organization optimize excess inventory and operate more sustainably.