Future Forward 2024 recap: Key takeaways

The Path to Purchase Institute recently hosted its annual Future Forward conference, offering insights into emerging trends and developments in the CPG and retail space. The event featured a range of topics centered around the evolution of artificial intelligence, retail media trends, personalization and much more. Here are the key takeaways.

The AI impact

AI was a major topic of discussion at the conference. From power point presentations to product ideation to ad creative and packaging designs, several speakers highlighted the growing list of tasks and deliverables that can be handled by AI. To paraphrase keynote speaker Tom Edwards, “AI is a tool.”     The real value behind AI lies in understanding how to utilize it not only to increase productivity and efficiency but to enhance and improve outcomes through a convergence with human expertise and creativity. Furthermore, instead of replacing humans, AI’s role in the workplace is more likely to enhance and accelerate human abilities, with humans overseeing the technology.  

(L-R) Shobha Kansal and Jenny Holleran discussing all things digital. 

Value perceptions and data layers

Shopper perceptions of value have become more stratified, shifting from “good, better, best” to “good, better, best, premium and ultra-premium,” noted Jenny Holleran, group director in Kroger Precision Marketing at 84.51°, in a fireside chat with Shobha Kansal, director of category leadership at The Kraft Heinz Company. In response to that shift, Holleran and Kansal discussed digital advertising’s role in educating shoppers and delivering personalized experiences.     Holleran also commented on new insight opportunities that are unlocked when thinking of retail media as a channel and a data layer. For several years, retail media has been discussed “as a channel,” she said. “But how is that [data] layer woven throughout different brands, how is it influencing in-store purchases…how do you continue to extrapolate that out to make sure you’re getting those consumer touch points?”   

Chandra DiGregorio sharing data science insights. 

Making data science attainable

Demands of insights are growing — brands need both descriptive and predictive insights to solve increasingly complex business problems. When executed correctly, integrating data science into an organization empowers companies with the actionable insights it needs.     Speaker Chandra DiGregorio, VP, data science, commercial insights and loyalty at 84.51°, outlined the steps companies can take when embarking on a data science journey or diving deeper as a mature data science team. Whether you're “just starting out or are a change maker leading the charge, understanding where you stand on this spectrum is crucial,” she said. Aligning data science teams with business units as cross-functional teams is also key.

Attention is at a premium

As attention spans decrease and opportunities for distraction continue to grow, marketers are looking for more ways to hold on to consumers. To that effect, gamification tactics are becoming more advanced. In addition to letting users earn points and badges, some retailers and brands are taking a page from social media playbooks to drive engagement on their mobile apps. They’re exploring repeatable activities that promote habitual behavior, such as regularly swiping to claim a daily or weekly offer/reward.   

Data-driven personalization

Personalization was explored at various sessions emphasizing the use of AI and data analytics to enhance customer engagement. Key discussions included tailoring customer journeys, scaling brand experiences with AI (think generating hundreds of thousands of ad permutations to match granular personas) and leveraging retail data to create highly personalized shopping experiences. Another topic included utilizing data insights to uncover opportunities to connect a brand with new customers. These sessions highlighted how brands can use data and technology to drive growth and improve conversion rates by delivering relevant interactions at key moments of inspiration. 

(L-R) Judith Aquino, Dan Brach, Claire Straus, Brendan O’Brien, Jenny Holleran and Michael McGowan celebrating Brendan’s win.    The conference concluded by celebrating the third annual 40 under 40 awards and the 2024 Hall of Fame inductees. 84.51° is proud to note that Brendan O’Brien, director, commercial insights portfolio expansion, received a 40 under 40 award for his many contributions to the commerce marketing industry. His innovative work across top partners focuses on identifying opportunities to drive brand growth, better merchandising, personalized marketing and precise behavioral insights with data science and emerging technologies, making him a forward-looking leader and teammate.