“Thought provoking insights” was the most common phrase used in the feedback from the Store of the Future webinar which was held by Novum on May 28^th, in partnership with Retail Excellence and Modern Expo. Over 90 registrants were treated to a futuristic view of retail and what constitutes the customer of the future by keynote speakers; Jim Greene, CEO of Novum, David Fitzsimons, CEO of Retail Excellence, Piotr Kraśnicki, Head of Sales, Retail Excellence and Eoin Lennon, CTO, Novum.

What were these key insights in regards global retail trends?

Jim Greene kicked off proceedings by saying the challenges faced by the retail industry today were predicted chillingly by the Rockefeller Institute back in 2010. Jim then referred to a recent Bank of America Merrill Lynch report which predicted that Coronavirus will drive transformation and disruption that occurs only once in a lifetime. Apart from the obvious geopolitical effects of a more strained US-China relationship and the deterioration of power in regards OPEC, the return of manufacturing to the West, there will be huge drive towards sustainability, social impact and climate change.

David Fitzsimons, CEO of Retail Excellence explained in detail the challenges facing the retail sector, from huge expenditure on safety measures to consumers having to or choosing to shop local and a surge in online sales. He predicts that this trend will continue post Coronavirus. The “new normal” in retailing will also include reservation only retailing, drive thru retailing, open air retailing and new payment options such as payment by text.

Eoin Lennon explained how the customer of the future is actually here now and are mainly among the younger generation. They are driven by both sustainability and safety and will choose stores who have a very clear sustainability reputation. In regards supermarkets he emphasized that the conversion rate to Novum’s groundbreaking LEAP technology is now over 80%

Modern Expo’s Piotr Kraśnicki concurred with Eoin Lennon’s that the customer of the future wants to “Go green” and “Go clean” with their shopping experience. Because of the Covid-19 pandemic retailers have boosted their e-commerce facilities and are embracing the Click and Collect Business Model along with a bigger emphasis on sourcing produce locally. Stockpiling of staple products is also widespread as shoppers want to curtail their number of visits to the supermarket and when they visit the supermarket the expectation for human interaction is much less due to social interaction

What are these key insights in regards solutions to the huge drive toward sustainability and safety?

LEAP™ Technology-The Sustainable Solution

Novum’s CTO Eoin Lennon explained that Novum’s patented LEAP™ technology is the most energy and cost-efficient technology of its type on the global market.

In addition to producing the most energy efficient freezers on the global market Novums sustainability credential are enhanced even further through the use of R290 natural refrigerant.

Food Integrity

As LEAP™ technology bypasses traditional defrost processes, which can heat food from between 5° C and 8°C, the integrity and quality of your food is never compromised

Appearance

Frost free technology enhances the appearance of packaging within the freezer, hence making it more attractive to shoppers as frosting on packaging is a barrier to sale.

Practically Zero Maintenance

On the rare occasion that the LEAP cassette cartridge needs to be replaced, this can be easily done within 10 minutes and removes the need for service contracts with service technicians.

Cost Savings

The huge energy savings combined with plug and play installation technology leads to huge cost savings and the return on investment is much less than traditional defrost systems.

Mr Lennon concluded his presentation by saying that “the technology of the future for the store of the future and the customer of the future is available now, here in Novum”

Parcel Terminals-the Safe and Highly Effective Weapon Against Covid-19

Piotr Kraśnicki of Modern Expo explained how parcel terminals are the ideal weapon against Covid-19. They have many advantages such as minimizing social interaction, facilitating click and collect, reducing the last mile delivery costs and time and enables e-commerce for physical stores. It can also be used a contactless return station for goods the customer wants to return.

With Modern Expo’s solution they can integrate parcel terminals with phone apps in regards opening a terminal and no need to touch the door of the terminal. Modern Expo also offers integrated sanitizing stations in the terminal. Products are kept fresh through fresh box technology and it provides an ideal safe opportunity for retailers in regards up-selling through an accompanying vending machine of soft drinks, masks etc.

Jim Greene, CEO of Novum concluded proceedings by explaining how Novum is working closely with its customers deploying LEAP technology to new innovative products and applications in response to the “New Normal”.

To view footage of the Store of the Future, please click here>>>