The new wave of generative artificial intelligence (AI) tools seized the spotlight, with key discourse focusing on the technology’s promise to significantly evolve online discovery – yielding hyper-contextualised results and offering stylist-like advice in response to natural conversational queries or uploaded images.

Brands and technologists also discussed generative AI’s potential to augment retail staff helping customers. Standout strategies included real-time voice-based tech feeding associates answers and upselling suggestions through earpieces, on-shelf “digital humans” (screen-based avatars) equipped with in-depth product detail (think virtual sommeliers), and fine-tuned responses to customers’ texts that employees edit as needed.

Brands with a sizeable Gen Z fanbase – including McDonald’s, H&M and American accessories retailer Claire’s – discussed strategies for youth engagement, ranging from letting customers get weird with brand content and cementing loyalty through non-transactional lures to (following Barbie’s blockbuster year) more fully maximising brand intellectual property (IP).

Several speakers highlighted new services as a key strategy for summoning shoppers out of their homes and sending spending soaring, from veterinary clinics (US-based pet giant Chewy’s first foray beyond e-commerce) to tech-centric cosmetic care applied by in-store experts (see American beauty brand Ulta).

Despite continued growth in the luxury sector (see Evolving Luxury Retail), forecasts estimate a global deceleration following the post-pandemic boom. Brands must therefore chase new opportunities – whether via the thriving second-hand luxury market (see Key Stats) or under-explored markets like South Korea, now boasting the highest per-capita luxury spend (Morgan Stanley, 2023). Strategies include digital passports enabling brands to profit from resales and tapping into Korea’s culture vultures.