4 minute read
Shaping Canadian retail through consumer trends: insights from RCCSTORE24
Canada’s annual retail conference showcased a lineup of incredible speakers and content, cutting through the most significant issues impacting the industry today.
// Special from Retail Council of Canada
RCC’s STORE24 Conference, held on May 28-29, 2024, at the Toronto Congress Centre, was a pivotal event for Canadian retail. It brought together trailblazing ideas and innovative strategies aimed at tackling ever-evolving retail and consumer trends. From pioneering sustainability initiatives to embracing diversity and leveraging advanced technologies, the conference provided a roadmap for the future of the retail industry. Thought-provoking presentations and transformative insights set the stage for what’s next in retail.
Key insights explored
Michèle Boudria, CEO of McDonald’s Restaurants of Canada, kicked off the conference by advocating for sustainable technology integration and fostering community partnerships to meet consumers’ wants and needs. Her insights resonated well with the growing consumer preference for locally sourced and eco-conscious products and set the tone for a conference that explored cutting-edge strategies and transformative insights shaping the future of retail.
Eric Morris (Google Canada) and Matthew Kropp (Boston Consulting Group) discussed the potential of generative AI in reshaping retail operations, promising more personalized data-driven shopping experiences for consumers.
Michael E. LeBlanc and Diana Dimitian emphasized the need for agile decision-making amidst industry disruptions, reflecting consumer expectations for brands to innovate proactively and delight.
Catherine O’Brien (Nestlé Canada) led a discussion on environmental sustainability, with Kimi Walker (Canadian Tire Corporation), Derrick Emsley (Tentree) and Maya Colombani (L’Oreal Canada) highlighting a growing consumer trend towards eco-friendly shopping and the increasing pressure on businesses to adopt sustainable practices.
Selwyn Crittendon, CEO of IKEA Canada, underscored the importance of authenticity and community impact, echoing consumer preferences for transparent and socially responsible brands.
Thomas Haupt (Sephora Canada) stressed the role of diversity in driving retail success, emphasizing the increasing consumer and employee demand for inclusive corporate environments.
Jan Kestle (Environics Analytics) outlined the pivotal role that data plays in relation to AI, supporting the delivery of personalized customer experiences, essential in meeting the expectations of today’s discerning shoppers. She also shared data on how the ethnic diversity of Canada is growing.
Peter Hughes (KPMG Canada), Tommaso Brusò (Eataly North America), and Sylvain Michel (Holt Renfrew) discussed the essential nature of omnichannel strategies for brands aiming to deliver seamless customer interactions across digital and physical platforms.
Greg Hicks, CEO of Canadian Tire Corporation, highlighted how the strategic use of data in modernizing retail operations is proving crucial for meeting consumer demands for efficiency and personalized service.
“I want you to think about what you want. Put your company aside for a moment. We know what they want – they want a good quarter and a good year. But what do you want? What do you want for your family and your children? What do you want for your community? Now imagine that what you want is what everyone in the Canadian industry wants. Imagine that they feel just like you, that they believe that we as an industry can not only do better for society, but we can capitalize on that as well. Now imagine if every retailer in the world felt the same way. If that’s the case, I promise you that retail will save humanity.”
Doug Stephens will further explore retail disruption at RCC’s Retail Marketing Conference on September 12, 2024, in downtown Toronto, offering fresh strategic insights for retailers to stay ahead in a rapidly evolving market.
RCCSTORE24 was a catalyst for change in Canadian retail. Attendees left empowered and inspired, ready to innovate and embrace the challenges of tomorrow. For more information on RCCSTORE24 and to join the conversation leading up to STORE25, visit the official conference website.
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To learn more about the upcoming RCC Retail Marketing Conference on September 12, 2024, visit rccretailmarketing.ca/agenda.
