If you attended the NRF Big Show in New York this January, you know it’s back in full force. The days of hugs and handshakes have returned as colleagues and industry friends caught up with what’s new. The expo halls and keynote sessions were the place to be with retail’s best and brightest showing up to hear the latest retail trends, which can be categorized under three headings: Individualism, Innovation and Immersiveness.

Here are five of our top takeaways:

1. Personalization goes deeper

Seeing shoppers as individuals right through the customer and human lifecycle – in places and communities both physical and digital – allows for new levels of personalization that can reward and nourish shoppers uniquely. Transcending what is simply a good omnichannel experience, Farfetch and Harrods were just two brands that discussed using data to cultivate meaningful interactions with customers including knowing what they desire before they even enter your store. Meanwhile, in his keynote speech, Macy’s CEO Jeffery Gennette spoke about the importance of shoppers really feeling “seen.” This amounts to being understood and represented as well as valued.

2. ‘Shoppertainment’ will drive business growth in 2023

The Worldpay from FIS® partner, Firework, has been providing immersive shopping experiences for the likes of The Fresh Market who are now in over 160 locations across the U.S.* Shoppable videos can increase conversions for retailers by bringing more of the in-store experience online including allowing for two-way communication between viewer and retailer so brands can understand more about what shoppers want. However, the real attraction of livestream commerce is how viewers are able to respond instantly and impulsively to what they see as well as communicate with others, making the shopping experience a visceral, experiential one that replicates and even sometimes improves upon seeing an item in-person.

3. Multi-generational audiences help futureproof your brand – align with what matters most

Though the luxury industry appears to be in good shape despite global economic pressures, the likes of LVMH showed they are far from complacent when it comes to connecting with shoppers. LVMH brings innovation and individualism together to invest in the lives of future craftspeople and customers via educational programs with universities and colleges. With the brand recognized globally for holding entrepreneurship and innovation as core values, CEO Anish Melwani also spoke about the uses of blockchain to guarantee origin and supply chain ethics, underlining the importance to prioritize what matters to younger shoppers who may in turn become lifelong advocates.

4. Beauty gets a digital makeover

Technology always tops the list of what’s hot at NRF, but the “Beauty’s Blush with Technology” session – featuring executives from Macy’s and Estee Lauder – reminds us that what was only recently still a clunky experience of augmented reality has become a flawless second skin. Ticking all the boxes – innovative, immersive and individual – Estee Lauder’s new technology allows for tailored makeup recommendations via selfies. As shopper identities blur across social and physical realms, so must brand interactions be seamless across channels and makeup be much more than what you can fit in a makeup bag.

5. Payments are as important as ever

In a discussion on Chief Brand Officer Pete Nordstrom’s eponymous podcast, The Nordy Pod, Domenico De Sole – Chair of Tom Ford International – reiterated what we at Worldpay already know: that payments should be an invisible experience as part of the shopper journey. This chimes with Kroger CEO Russell McMullen’s comment that if the shopper can feel the technology at work, then the technology isn’t good enough.

As merchants prepare for the year ahead, they may benefit from having a multi-channel payments strategy that attracts and rewards the individual and uses pertinent insights to show they understand shopper drivers.

With all of this in place, customers are proven to spend more. And with a flawless omnichannel payment experience, merchants can ensure they’re ready to take the payment, wherever the customer meets your brand.

*The Fresh Market Opens 160th Store in Palm Beach Gardens (2022) The Fresh Market