etail connect 2024
retail renaissance - using disruptive technology to ADAPT and grow in a dynamic market
14 Oct 2024
Eric Bruzek
eTail Connect 2024 was a very hands-on and engaging event with many of Australia’s most senior retail leaders. Eric Bruzek gave the conference keynote address, Retail Renaissance in 2024 - Using Disruptive Technologies to Adapt and Grow in a Dynamic Market, as well as led several industry roundtables.
Here are some of the key insights from his talk, which was focussed on artificial intelligence (AI) and augmented reality (AR).
1. In addition to price sensitivity, consumers will be highly sensitive to experience. Therefore, effective and engaging product information, online delivery options/timelines and omnichannel experiences (including in-store) will become key differentiators.
2. Online (7.4% CAGR), social commerce (10% CAGR) and retail media (20% CAGR) will be key growth drivers over the next three years.
3. 72% of all organisations, globally, are now using artificial intelligence (AI) within at least one business function. That number surged from 55% in 2023.
4. The benefits of Gen AI are clear. Organisations typically get a 15.8% revenue increase, 15.2% cost savings and 22.6% productivity improvement from their Gen AI projects.
5. The costs of Gen AI are less clear. Only 25% of organisations have an AI strategy with supporting total cost of ownership (TCO).
As part of the TALK, roundtables and panel discussion, Eric provided in-depth points of view on strategic topics such as the following.
Key success criteria
How to get started
3-year use case and capability roadmaps by segment
Total cost of ownership (TCO) and sourcing options
How to organise and govern
You can exclusively access the keynote address via the following link. An electronic version of the keynote can be made available upon request. Please contact us via our Connect page to request a copy.