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Our second of four episodes recorded at Shoptalk, Las Vegas, that we produced in partnership with Bread Financial, a tech-forward financial services company providing simple, personalized payment, lending and saving solutions.
Featuring:
1/ Jessica Calaway, Senior Manager, Market Research, Bread Financial
2/ Joe Laszlo, Vice President, Content, Shoptalk
3/ Andrea Moore, Chief Digital Officer, NEST New York
4/ Melissa Haque, Founder & Chief, Wild Dough
5/ Nikki Mendonça, Global Managing Director, Software & Platforms Practice, Accenture
6/ Kendra Bracken-Ferguson, Founder & CEO, BrainTrust
7/ Matt Dornfeld, Senior Director and Head of Global Partnerships, Feedonomics
In the second episode at Shoptalk, Jessica Calaway, the Senior Manager of Thought Leadership and Consumer Insights at Bread Financial, delves into the intricacies of consumer behaviour and the latest insights from their report, ‘The State of the Middle-Class Shopper.’
Jessica discusses her role, which involves leading Bread Financials’ thought leadership and consumer insights team. With a focus on conducting numerous consumer studies throughout the year, Jessica’s team aims to maintain a deep understanding of American shoppers’ preferences, behaviours, and engagement with the retail landscape.The discussion centres around Bread Financials’ latest report, which explores the resilience and spending habits of the middle-class shopper. Despite economic challenges such as inflation and higher interest rates, Jessica highlights the remarkable resiliency of American consumers, particularly those in the middle class, who prioritise essential and discretionary spending.
As the conversation progresses, Jessica delves into the concept of the American dream and its significance to middle class shoppers. Despite evolving economic landscapes, home ownership remains a cornerstone of the American dream across all income groups and generations. However, Jessica expresses concern over younger generations’ perceptions of attaining the American dream, emphasising the need for industry stakeholders to address these challenges.
The dialogue shifts to the changing attitudes between baby boomers and younger generations, with Jessica noting the latter’s higher expectations and engagement with retail. She discusses the importance for retailers to adapt to these evolving consumer preferences, particularly in digital channels and in-store services, to meet the demands of younger consumers.
In another insightful discussion at Shoptalk, Joe Laszlo, the Vice President of Content at Shoptalk, explores the intricacies of curating the event’s dynamic lineup and the key themes shaping the retail landscape.
Joe provides a glimpse into the meticulous process of crafting Shoptalk’s agenda, emphasising an agenda-first approach that prioritises identifying transformative industry trends and themes. From artificial intelligence to the evolution of omnichannel into unified commerce, Shoptalk seeks to address the most pressing issues facing the retail sector, ensuring a balanced representation of perspectives across diverse retail verticals.The conversation delves into the significance of brand building in today’s retail landscape, with Joe highlighting the success stories of legacy brands like Barbie and Macy’s in navigating the complexities of modern consumer engagement. Notable speakers, including the CEO of Macy’s, contribute valuable insights into the strategic decisions required to maintain relevance in a rapidly evolving retail landscape.
Joe speaks on the emergence of AI as a pivotal force in retail innovation, acknowledging both the excitement and apprehension surrounding its implementation. Moreover, he explores the shifting dynamics of industry relationships, as brands increasingly embrace direct-to-consumer models and consumers wield greater influence as creators and marketers.As the discussion concludes, Joe introduces the concept of “zeitgeist,” a moment during Shoptalk’s main stage presentations where the event shares its perspective on the most critical considerations for industry stakeholders.
The next engaging discussion at Shoptalk was with Andrea Moore, the Chief Digital Officer at Nest New York, to explore the evolving landscape of consumer behaviour and the strategies employed by Nest New York to keep pace with these changes.Andrea shares insights from her panel session, which focused on navigating new consumer behaviours in an omnichannel world. Emphasising the importance of understanding consumer adoption trends, Andrea highlights the role of emerging technologies like composable commerce, mobile platforms, and social media in shaping consumer interactions with brands.
As the conversation unfolds, Andrea provides a glimpse into Nest New York’s approach to staying ahead of the curve. With a diverse distribution network spanning various channels, including Sephora, Ulta, and Amazon, Nest New York adopts a test-and-learn mentality, experimenting with innovative concepts such as live selling and concierge services to enhance the consumer experience.
Delving deeper into channel prioritisation, Andrea underscores the significance of customising content and marketing strategies for each platform. From leveraging Amazon for replenishment products to leading with newness on Sephora, Nest New York tailors its approach to align with the unique preferences of consumers across different channels.
The discussion transitions to the evolving dynamics of marketing to Gen Z, with Andrea highlighting the generation’s penchant for product loyalty over channel loyalty. Drawing from her experience as a Gen Xer, Andrea reflects on the rapid product cycles and the need for concise messaging, particularly in platforms like TikTok with limited attention spans.
Melissa Haque, the Chief and Founder of Wild Dough, delves into the origins of the beloved Play-Doh brand and its journey to success.
Melissa shares the inspiration behind Wild Dough, recounting her experiences as a mother seeking a better alternative to traditional Play-Doh for her children. Frustrated by the lack of soft, long-lasting options on the market, Melissa embarked on a mission to create a dough that catered to children’s needs while offering convenience for parents. Wild Dough was born, offering a rehydratable, child-friendly alternative made from household ingredients.Reflecting on Wild Dough’s rapid growth and success in Australia, Melissa discusses the brand’s expansion into the US market. With a focus on scalability and production efficiency, Wild Dough navigates the challenges of meeting increasing demand while maintaining product quality and integrity.
As the conversation turns to marketing strategies, Melissa offers insights into reaching younger generations effectively. Acknowledging the shifting landscape of consumer preferences, particularly among the 18 to 24-year-old demographic, Melissa highlights the importance of tailored approaches that prioritise social media engagement over traditional email and SMS campaigns.
In an enlightening discussion Nikki Mendonca, Global Managing Director of Accenture’s Software and Platform Practice, explores the latest trends in consumer shopping and spending habits.
Nikki introduces the concept of the “everything economy,” a paradigm shift fuelled by AI-powered multi-service lifestyle subscription models. She elaborates on the evolution from vertically siloed subscriptions to horizontally curated offerings that cater to consumers’ desire for on-demand access to various services.The conversation delves into the rise of super apps, highlighting the trend’s transition from Asia to North America. She identifies key players like X and emphasises the importance of multi-service subscriptions in enhancing customer experiences.
Nikki highlights the need for a deeper understanding of consumer behaviour. Leveraging advancements in technology and wearables, brands can gather real-time data to personalise offerings and improve customer experiences. Nikki predicts a shift towards neuromarketing and neuroscience, particularly among younger generations, signalling an era of sentient marketing and advertising driven by advancements in brain-computer interfaces.
Finally, the discussion touches on the impact of AI in Accenture’s work and its transformative potential, particularly in generative AI and text-to-video technologies.
In the next interview at Shoptalk, Kendra Bracken Ferguson, Founder and CEO of BrainTrust, delves into the realms of social commerce, entrepreneurship, and her newly released book, “The Beauty of Success.”
Kendra sheds light on her session at Shoptalk, highlighting the evolution of social commerce and its pivotal role in engaging consumers. With a focus on B2B and B2C perspectives, Kendra explores how brands and content creators can leverage social commerce to forge meaningful connections with their audience.Kendra shares the inception story of BrainTrust, a platform rooted in community, mentorship, and trust. From social media and influencer marketing to BrainTrust Founders Studio and a $15 million venture fund, Kendra’s entrepreneurial journey epitomises the convergence of innovation and collaboration.
Amidst her bustling schedule at Shoptalk, Kendra also embarks on a book tour for “The Beauty of Success.” Drawing from her experiences as an intrapreneur and entrepreneur, Kendra offers invaluable insights on claiming non-negotiables, embracing pivots, and seizing opportunities.
Kendra discusses the motivation behind her book and its transformative impact on readers. From foundational principles to actionable prompts, “The Beauty of Success” is an inspiration for aspiring entrepreneurs and seasoned professionals.
In the final interview in episode 2 recorded at Shoptalk, Matt Dornfeld, Senior Director and Head of Global Partnerships at Feedonomics, discusses the dynamic world of data feed management and e-commerce.
Matt provides an overview of Feedonomics, a leading data feed management platform catering to enterprise brands and retailers worldwide. With a mission to optimise product catalogue distribution across various ads and marketplace channels, Feedonomics empowers clients to navigate the ever-evolving landscape of e-commerce.As part of the BigCommerce team, Matt delves into the strategic collaboration between Feedonomics and BigCommerce, highlighting the seamless integration of services while maintaining operational independence. With a shared goal of enhancing client success, both entities leverage their respective expertise to drive innovation and growth.
Attending Shoptalk, Matt discusses the excitement of engaging with industry peers, discovering new partnership opportunities, and exploring emerging trends in e-commerce.
Addressing the challenge of channel prioritisation, Matt discusses the significance of aligning channel strategies with client objectives and consumer preferences. Leveraging data analysis and market research, Feedonomics assists brands and retailers in making informed decisions to maximise their online presence and profitability.
Matt offers a case study featuring New Balance, illustrating how Feedonomics enables clients to optimise product listings and tailor strategies for different channels effectively. Through strategic data transformation and channel optimisation, brands like New Balance achieve significant improvements in performance and customer engagement.
Looking ahead, Matt identifies “instant commerce” as a transformative trend prepared to reshape the retail landscape. By leveraging marketplace presence to drive traffic to brick-and-mortar locations, brands can enhance fulfilment experiences and foster customer loyalty, revitalising the high street retail experience.