In the rapidly evolving retail landscape, industry leaders are increasingly turning to data and Artificial Intelligence (AI) to enhance customer experiences, streamline operations, and foster growth. In this session, executives from GoPro, Salesforce, and OSF Digital delved into these topics, offering valuable insights into the integration of these technologies into retail strategies.

Kathy Kimple, Executive Director of Digital Strategy at OSF Digital, moderated the discussion, bringing her extensive background in both traditional and digital retail to the forefront. She emphasized that "retail strategies are evolving with the integration of data and AI," underscoring the collective effort to personalize customer interactions, optimize retail functionalities, and stimulate business expansion.

Rob Garf, VP and GM of Retail at Salesforce, shared detailed insights into Salesforce's contributions to these advancements. He noted that "AI-powered product finders and shop-by-activity pages" are pivotal in tailoring the retail experience to individual consumer needs, a strategy that has been effectively employed by GoPro. Rob's commentary highlighted the significance of AI in Salesforce's CRM platform, especially its role in predicting holiday sales trends and facilitating a more personalized shopping journey. He mentioned, "17% of all sales were driven by predictive AI," showcasing the tangible impact of AI on retail performance.

Kacey Sharrett, VP of DTC at GoPro, provided concrete examples of how GoPro leverages these technologies to engage customers. The company's innovative approach, including the use of AI to analyze customer data for improved service delivery, stands as a testament to the potential of AI in enhancing the retail experience. Kacey shared, "GoPro uses various paths to guide consumers through their website, including a product finder quiz and activity-specific shop pages." This strategy not only enhances the customer journey but also drives sales by aligning product offerings with consumer activities and preferences.

The discussion also touched on the broader trends in the retail industry, such as the emergence of social shopping and the importance of traffic and conversion metrics. Kathy Kimple's insights into OSF Digital's Omnichannel Retail Index, benchmarking of 120 retailers across 14 verticals illuminated the diverse ways in which retail is embracing digital transformation. She stressed the critical role of faceted navigation and auto-suggest features in simplifying the online shopping experience, stating, "Making it easy for customers to find what they're looking for through faceted navigation and auto-suggest is essential."

A significant portion of the conversation revolved around the need for a solid data strategy as the foundation for leveraging AI effectively. The speakers concurred that while AI offers remarkable potential for personalization and efficiency, its success hinges on the quality and management of underlying data. "Developing a customer-centric model through data aggregation and change management is paramount," Kathy explained, underscoring the necessity of a strategic approach to data and AI.

In summary, the session provided a comprehensive overview of how data and AI are supercharging retail strategies, with firsthand accounts from GoPro and Salesforce exemplifying the practical application of these technologies. The insights shared by Rob Garf and Kacey Sharrett, grounded in their experiences at Salesforce and GoPro respectively, offered a roadmap for other retailers aiming to harness the power of data and AI for growth and success in 2024 and beyond.