Liz Beggs, Chief Operating Officer of Payments Consulting Network, and Bernadette Walsh, Marketing Partnerships Manager, attended the inaugural National Retail Federation (NRF) 2024 Retail’s Big Show Asia Pacific (APAC) event, held at the Marina Bay Sands Expo and Convention Centre in Singapore from June 11 to 13. The event is an extension of the renowned Retail Big Show in New York City.  

The three-day event was officially launched with a ribbon-cutting ceremony by Mr. Gan Kim Yong, the Deputy Prime Minister, Minister for Trade & Industry, and Chairman of the Monetary Authority of Singapore, Republic of Singapore.

from left to right – Mr. Yap Chin Siang, Deputy Chief Executive, Singapore Tourism Board, Ms. Elaine Chia, CEO, Comexposium APAC, Mr. Laurent Noel, Managing Director, Comexposium, Mr. Gan Kim Yong, Deputy Prime Minister of Singapore, Ms. Susan Newman, Senior Vice President Conferences and Strategic Marketing, National Retail Federation, Mr. Ernie Koh, President, Singapore Retailers Association, Ms. Jeannie Lim, Assistant Managing Director, Enterprise Singapore

Over 7,000 registrations and 238 exhibitors from 52 countries attended the event. Industry experts delivered compelling keynotes and engaged in discussions focusing on emerging technologies, the latest trends, and strategies transforming the retail landscape in the Asia Pacific market.    

The featured speakers included global retailers such as 7-Eleven, Aeon Group, Central Retail Corporation (Thailand), Domino’s, Fast Retailing (Uniqlo), Hermés, Moët Hennessy, Nike, Puma, and Lotte Corporation. Speakers from Australia also participated, including Jennifer Child, CEO of Oroton Group; Nicole Sheffield, Managing Director of Wesfarmers OneDigital; Benjamin Thompson, Head of Digital Transformation of Endeavour Group; Peter Ratcliffe, Head of Technology at R.M. Williams; and Peter Clarke, Chief Technology Officer at Lorna Jane. The latter two were featured on our recent Payments Beats Podcast, discussing Omnichannel: Challenges and Opportunities.  

The major themes discussed at the event included the following:  

• Personalisation – is more prominent in physical stores, where selling experiences and personal customisation can be more important than selling the products themselves.   
• Integrating AI and machine learning – has a significant impact on e-commerce, which is expected to grow in the coming years. Leveraging generative AI is making employees’ and customers’ lives easier.   
• Onboarding innovation – innovation is helping retailers make their brands and products unique and appealing, giving them a competitive edge.   
• Omnichannel customer experience – focusing on bridging the gap between online and offline channels, optimising the customer experience with a unified view of the customer and ensuring that every touchpoint works effectively. 
• Employee experience – empowering frontline employees to voice their ideas, increasing engagement and investment in the company.  
• Implementing sustainability and ethical practices: retailers seek collaborative solutions with their partners, suppliers, and regulators to navigate the complexities of ESG implementation rather than relying on individual brands.  

Takeaway from Customer Experience Theme

Retailers emphasise the importance of providing an excellent customer experience to thrive. Matthew Shay, President and CEO of the National Retail Federation, discussed luxury retail experiences with Laurent Boidevezi, the APAC President of Moët Hennessy. Boidevezi outlined the company’s plans to expand its direct retail spaces to increase engagement with new generations of customers.  

Laurent Boidevezi with Matthew Shay | photo from: Comexposium

“You need to be very true to your foundation, to who you are, but you also need to play to your crowd.” – Laurent Boidevezi, President Asia Pacific, Global Travel Retail & Private Sales at Moët Hennessy (LVMH)

Boidevezi explained that although their primary business operation is wholesaling, a considerable proportion of their sales comes from on-premises consumption at restaurants and bars, with the remaining sales coming from various retailers that stock their products. To boost their brand presence and entice customers to purchase their products, they have utilised retail space in airports to create a visually striking high-street boutique appearance and offer in-store experiences. These experiences include tastings, masterclasses, and digital engagement, incentivising consumers to visit their stores and buy their products. Furthermore, they provide customers with additional personalisation, customisation, and engraving services. In one location, they even have a rotating bar in the middle of the shop for customers to enjoy a cocktail in-store.  

Retail Store Tours

The National Retail Federation (NRF) also provided Retail Store Tours, allowing key retail leaders and media to experience brands like Luzerne Global. This offered an opportunity for Luzerne Global to showcase its remarkable journey and transformation from a trading company to a globally recognised leader in tableware. They shared insights into brand evolution, transitioning from serving global brands (OEMs) to establishing their own successful Luzerne Tableware brand. The retail store tours gave visitors a glimpse into what some companies are implementing beyond the promotion of their products.   

Innovation Lab 

Innovation Lab | photo from: Comexposium

In a highly competitive and digital era, companies must strengthen their operations and enhance their customer journey to maintain a leading position and propel the retail sector forward.   

The NRF Innovation Lab showcased the newest retail technologies, such as artificial intelligence, augmented reality, virtual reality, machine learning, facial recognition, robotics, data analytics, and Web3. Visitors could try on clothes and shoes using AR, enjoy personalised live video streaming for unique shopping experiences, and benefit from machine learning for optimised supply chain and inventory management. The lab had something to offer to retailers of all sizes.  

Those featured in the Innovation Lab area included Adpaka, Chain.io, corsight, Datarize, Mishi Pay, Optimum Retailing, Shopreme, Storewise, Svarmony, Syte, Trollee, Trustana, Vcat.ai, Visenze, Wayvee, Whale, Zapper, Zero10, and Zoku.  

Conclusion

Asia Pacific is one of the world’s fastest-growing markets, offering limitless opportunities to expand stores and production and reach a growing consumer market.  

A special thank you to NRF for Retail’s Big Show Asia Pacific, the Singapore Retailers Association, the Singapore Tourism Board, and Ryf Quail, Managing Director at Comexposium, for making this milestone event a reality.  

Save the date for next year’s NRF – June 3-5, 2025, at Marina Bay Sands, Singapore. 

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Author: Bernadette Walsh, Marketing Partnerships Manager, Melbourne, Payments Consulting Network  

Bernadette’s diverse work experience has given her the opportunity to observe the different approaches to business and problem-solving, allowing her to develop a unique perspective on how to build relationships and solve problems. Her resourcefulness and willingness to think outside of the box have been invaluable assets in her ability to find creative solutions to complex problems.   

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Payments Consulting Network was one of the media partners of NRF Retail’s Big Show Asia Pacific 2024.

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