The National Retail Federation (NRF), the world's most important retail conference, is taking place over the next few days. As people come together to share experiences, strategy and advice, eagle eye have been on the ground, taking in every second of it. What learnings did we walk away with on day one? And how can we use them to help you connect with customers in a changing retail landscape?
Take care of your employees
They’re always saying customers come first – but how about your employees? Doug McMillon, CEO of Walmart, in a keynote conversation with Matthew Shay, CEO of NRF, reiterated the importance of “Taking care of your customers and taking care of your associates”. This is especially important for Walmart, who have 2.3 million employees globally. A good employee rewards system, which you can create and manage with Eagle Eye, inspires loyalty and advocacy from your most important people.
Instagram as a business tool
Instagram has doubled its ad revenue over the last six months and they emphasised the fact that the platform is not just for “sharing” but for conducting business. We’ll be looking to Instagram to pursue new customers and increase internal business content so watch this space.
Be ready for change
As McMillon warns, “Retail is about change. If you’re bored right now, you’re not paying attention.” Walmart’s current mission is to digitise its brick-and-mortar stores and tasks that are “not enjoyable”. Eagle Eye technology is swiftly and easily integrated into existing systems – digitising paper-based processes and enriching your single customer view through data. Knowing who your customer is gives you the best chance at retaining them while acquiring new ones. As McMillon said, “Ultimately, the customer decides whether Walmart survives or not. If we evolve, we will be there to serve them. If we don’t, we won’t.”