What were the standout themes at the 2024 World Retail Congress in Paris?
#Week16 The bustling streets of Paris played host to both four seasons of weather and the ‘crème de la crème’ of the global retail industry as the 2024 World Retail Congress rolled into town this week.
The first day set the scene for the week, with delegates experiencing tours of Sephora, Galeries Lafayette, Etam and the newly opened JD Sports flagship on the Champs-Élysées.
Echoing the zeitgeist, speakers emphasized the importance of sustainability, urging retailers to align their strategies with eco-conscious practices while maintaining profitability. New ways to leverage cutting-edge technology also emerged as a major theme – with personalised shopping experiences and the integration of omnichannel platforms setting the stage for a new era of retail innovation.
It’s perhaps unsurprising then that data-driven insights surfaced as the cornerstone of retail strategy, with AI and analytics heralding a new era of predictive modelling and customer-centric decision-making. Marketing and transformation guru, Giuseppe Stigliano, opened with a keynote speech discussing how the next generation’s first interaction with brands is now online, or even gamified. A story about his son’s purchase of Gucci trainers on the ever-popular Fortnite certainly caught the attention of the brand marketeers in the room.
The mood was optimistic, and though it would have been easy to get swept up in the excitement, delegates were equally mindful of the challenges facing the industry against a backdrop of geopolitical uncertainty. Leaders from across the globe focused on the importance of navigating the complexities of global trade dynamics, supply chain resilience, and shifting consumer behaviours with resolve and strategic foresight.
As ever the networking sessions were fully subscribed as delegates made new connections, exchanged best practices, and explored collaborative ventures aimed at driving innovation and sustainability. A strong showing from Saudi mega-project, Diriyah, showcased its ambitious leasing strategy – with similar projects looking conspicuous by their absence.
As the curtains closed on the congress, the echoes of inspiration and camaraderie lingered, leaving attendees energized and empowered to chart a bold course to the next era of retail.