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NRF 2023: Retail’s Big Show is taking place January 14-17th at the Javits Center in New York City. The event is the industry’s most important event of the year, as brands and retailers spotlight the biggest trends and innovations shaping the future of retail.
Perfect Corp. has rounded up the top trends highlighted at this year’s NRF event. Read on to discover the major technologies and themes that will influence the retail industry in the year ahead.
Virtual Try On:
▲ AI Virtual Try On Solutions for eyewear, makeup, and hair colors.
AR technology, particularly virtual try-on, has been revolutionizing beauty retail for several years. The technology allows consumers to try on multiple products in seconds through a fully digital platform, helping brands reduce product waste and helping consumers find their perfect product fit. The tool has helped hundreds of brands increase sales conversion up to 2.5x, reduce product returns and boost customer engagement.
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At this year’s NRF show, it is clear that virtual try-on technology has become essential in the retail world. Now more than ever, it is important that brands and retailers provide customers with immersive and personalized shopping experiences that are also hygienic. Virtual try-on technology achieves this by allowing consumers to try-on product easily in a contactless environment. In 2023 and beyond, virtual try-on technology will begin to enter new spaces, allowing brands across industries to create impactful and engaging shopping experiences.
Learn more about Perfect Corp.’s virtual try-on solutions here.
AI Personalization:
▲ AI Skin Analysis
For today’s consumers, personalization is no longer an option, it’s a necessity. AI technology has proven to be one of the most effective tools for providing personalized experiences in the shopping journey. At this year’s NRF show, AI technology was at the forefront of 2023 retail trends. With the use of AI technology, brands and retailers can easily provide customers with tailored experiences and personalized product recommendations. With enhanced personalization, brands can boost brand loyalty and forge more impactful relationships with customers. In 2023, AI technology is key to unlock this growth.
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Learn more about Perfect Corp.’s AI solutions for retail here.
The Return of In-Store Retail:
2023 will see an increase in brick-and-mortar shopping, as restrictions from the Covid-19 pandemic ease and consumers return to physical in-store experiences. Brands and retailers will need to consider how to engage consumers as they return to in-store shopping, as customers are now seeking entertaining and immersive experiences when they shop in-store, better known as “shoppertainment”. AI + AR solutions, such as virtual try-on and diagnostics, can help to elevate in-store shopping experiences, providing experiences that are both fun and personalized.
Learn more about AI, AR and the rise of shoppertainment here.
Get expert advice from Perfect Corp. and be part of the beauty tech trend. Contact us for details on beauty tech solutions trusted by 400+ brands globally.
Read our “Beauty Tech: The Complete Guide” to unlock powerful ROI secrets.
