What: CES is an annual trade show organized by the Consumer Technology Association. The event typically hosts presentations of new products and technologies in the consumer electronics industry. NRF Big Show features the latest retail solutions to highlight breakthrough technology, and introduce the ideas, people and partners that are shaping up the retail industry.

Why it is important: IADS’ partner, Retail Hub, was asked to share the key topics and takeaways from the 2023 CES and NRF conferences.

CES and NRF are two events where you can find everything connected to innovation. Some major topics addressed that have been sparking innovation were:

-    Labor shortage

-    Experience

-    Smart cameras (autonomous driving)

-    Supply chain transparency

While innovation continues to accelerate, the money to back innovation projects dwindled in 2022 compared to 2021. These investments are directly linked to the health of the financial markets, therefore the 2022 strain has impacted retail tech. But technology will continue to be a major piece in how companies will compete to have an edge in the future retail space. The only technology that was not receiving less money in the 2022 is everything connected to tech, climate tech, and sustainability.

The top funded business models over the past year were multi product marketplaces, financing platforms (BNPL), B2B horizontal marketplaces, e-commerce rollups, social reselling platforms, B2B e-commerce software suites, CPG brands e-commerce software suites, e-commerce storefronts, CPG brand analytics, and marketplace software suites.

The key technology themes found at CES were: enterprise tech innovation, metaverse, Web 3.0, transportation, mobility, heath technology, sustainability, gaming and services.

Finally, it was noted that when it comes to emerging markets, Africa is starting to become a hub for innovation.

Watch the interview here