Inside the massive Jacob J. Javits Center in midtown Manhattan, tens of thousands of retail professionals gathered for the NRF 2025, the Big Show, earlier this week to network with colleagues, shop vendors, and drink staggering quantities of free coffee.
Many of these visitors attended sessions and keynote speeches featuring some of the biggest names in retail, including top executives from national chains and brands that offered their view on the current state of the industry.
And while it can sometimes be difficult to separate the signal from the noise in the buzzy, promotional environment of a professional conference—just look at this piece from Andrew Adam Newman, who reported that diversity, equity, and inclusion (DE&I) initiatives were hardly mentioned at all this year after being a big focus back in 2022—the Big Show can provide a high-level view of what kind of messaging might come from retailers in the year ahead.
Here is Retail Brew’s roundup of notable insights and quotes:
Embracing paradox: In one of the keynotes, Best Buy CEO Corie Barry said she told her team that in an environment “where simultaneous change is the new norm,” it’s important to focus on “adaptability over perfection.” That may sound like a pretty generic corporate slogan, but for retailers facing a slew of technological changes, the strategic implications of how companies embrace or resist change could be vast. She stressed that the way forward isn’t picking a single path, like stores or digital, but balancing both and all the “paradox” that implies.
Learning to fail: In a similar vein, Worldwide Amazon Stores CEO Doug Herrington made the case for learning how to fail. Paraphrasing Jeff Bezos, he said, “A lot of companies say they love innovation, but they also really dislike failure, and they end up, intentionally or not, with cultures and organizations that really do a lot to try to avoid failure.” But if you get “too good” at avoiding failure, he said, innovation becomes nearly impossible. In other words, a conservative posture toward change isn’t going to fly in an environment where new technologies are reshaping the industry every day, and early adopters are working out the kinks in real time.
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Curating choices: On the same day that Macy’s lowered its Q4 outlook, CEO Tony Spring offered a broader, more flexible way of thinking about its business. Writing off the perennial prediction that department stores are dead, Spring offered the label “marketplace” as an alternative to help think through its potential. The key to this model is ultimately the “curation of choice,” he added, and Macy’s is uniquely suited to be flexible in response to shifting demand. “We could basically expand any business or contract any business based on the opportunity that we saw that season,” he said.
More dynamism: Dynamic pricing and its relation to AI came up several times during the show, though one of the most striking moments was when Paulo Correa, CEO of Brazilian fashion giant C&A, openly endorsed the practice while sitting beside Todd Garner, chief product officer at Sam’s Club, a company known for its steady prices. He said there is a lot of “dogma” supporting the idea that “price has to be equal in every store, every time,” but stressed that “this is not a reality anymore…Everyone in Brazil has a different price in every single store.”
In another session, Parm Singh, head of retail analytics at NielsenIQ, preempted criticisms of dynamic pricing, saying it can also help lower prices in low-income areas. “Dynamic pricing isn’t about creating subtle increases or creating surges,” he said. “Dynamic pricing is about being able to change a number of prices so it meets the needs of how a customer shops the store.
State of the consumer: Target Chief Commercial Officer Rick Gomez had good things to say about the American consumer, calling them resilient, resourceful, and intentional. He also emphasized that shoppers won’t just buy anything. They have to see the value in their purchase, which echoes a sentiment that could be a guidepost for the company in 2025. “It’s not just about a low price,” Gomez said. “It’s about the value that you get from that product.”