#RICE24: Don’t Forget the Importance of Consumer Connection
The 2024 Retail Innovation Conference & Expo in Chicago was a transformative experience for everyone in attendance, myself included. From June 4–6, I had the opportunity to immerse myself in the dynamic world of retail alongside industry insiders, top brands, local retailers, and leading executives. Attendees engaged in a dynamic and immersive experience which included a store tour, networking opportunities, and informative workshops that provided a comprehensive view of the latest trends and technologies.
#RICE24 highlighted the cutting-edge strategies and technologies that are reshaping how brands and consumers interact. It became clear that maximizing consumer connections is paramount for sustained growth in a dynamic retail environment. The conference underscored the shift towards value-centric approaches over traditional price-based strategies, emphasizing the importance of forging meaningful connections with consumers in today’s fast-paced retail landscape.
Consumer Connections Matter
The retail industry is always evolving — so are the needs and demands of consumers. Despite retail’s fast pace, it is still critically important for brands and advertisers to understand their core consumer. By learning the shifting needs of consumers, brands can offer value, incorporating benefits—rather than pricing discounts to spark sales growth.
Brands can maximize their consumer connections by:
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- Simplifying the buying process
- Humanize digital experiences
- Building immersive wow experiences
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Fostering Community
Create space and a support system to lean into the customer’s experience and engage with them directly and often. Doing so provides some of today’s most successful brands with valuable insights. Consider social channels and groups as a forum to gauge interest and sentiment quickly. Developing a customer advisory board is another way to foster a sense of inclusion that can build genuine advocacy and ambassadors.
Diamonds In the Data
#RICE24 also spotlighted the role of data analytics in driving strategic decisions. Successful brands were noted for leveraging first-party data alongside retail media data from platforms such as Amazon’s AWS Marketplace, Google’s Ads Data Hub, and Meta’s Clean Room. This approach enables brands to refine their strategies effectively, supported by clear KPIs for measuring success.
Understanding and maximizing consumer connections is at the core of Harmelin’s planning process. Through research and discovery, we continuously evaluate shifts in industry trends, consumer behaviors, and media habits. Maximizing consumer connections is just one of the many insights from #RICE24 our team of retail specialists will be sharing and applying to generate performance growth and push our clients’ business forward.
Contact us for more information.