Five retail technology questions for Christine Russo
RTIH asks major players in the retail technology space for their thoughts on the sector, and throws in a random question to keep them on their toes. This time around, our five questions go to leading industry analyst and RTIH Innovation Awards judge Christine Russo.
RTIH: Looking at the hottest retail technologies right now, check-out free stores, rapid delivery services, the metaverse and NFTs, automation and robotics, blockchain and cryptocurrencies, which ones stand out to you, and for what reason?
CR: Those that put the customer at the centre are the hottest. Check-out free stores and the metaverse.
Checkout-free stores are the embodiment of putting the customer first. It’s important for bricks and mortar retailers to emulate a frictionless online experience.
You can’t have a true omnichannel strategy when the customer pulls out their wallet at checkout, searches for a payment card and so on.
Customers like being put at the centre of the shopping experience.
The metaverse is creator owned. It sits on top of billions of gamers and has huge potential. It is gaming 2.0.
RTIH: Which retail technology trend is overrated in your opinion?
CR: Artificial intelligence - just kidding! AI is just getting started and woven into nearly all major tech solutions.
Overrated, hmmm, hard to answer because that might send the wrong message and one that is a big contributor to risk aversion.
Some retailers think technology solutions can a fad and will go out of trend. We do not want to encourage sitting on the sidelines and avoiding technology adoption.
RTIH: What are the top five retail tech Twitter/LinkedIn accounts you can’t do without, and why?
CR: Retail Technology Innovation Hub, Retail Wire, EU Startups, Rethink Retail, and ChainStore Age.
I like a mix of innovation updates, opinion and concise news updates.
RTIH: If you could have a dinner party with any five retail pioneers, dead or alive, who would they be and why?
CR: Michelle Gass (CEO Kohl’s), Rosalind Brewer (CEO Walgreens Boots Alliance), Karen Lynch (CEO, CVS), Mary Dillon (former CEO Ulta Beauty), and Corie Barry (CEO Best Buy).
Women who are holding C-suite positions.It would be great to talk with them about their journeys and successes and what they can share with the next generation.
The ultimate aim would be more women becoming CEOs.
RTIH: Which movie character would you want to be and why?
CR: Anyone who follows me knows my go to is Lord of the Rings, so I’m going with Galadriel who said, “even the smallest person can change the course of the future”.
