RILA gives peek at future of retail

Gina Acosta
Executive Editor
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The Retail Industry Leaders Association (RILA) launches a month-long initiative to showcase news, initiatives and research focused on the future of retail and shopping experience.

The association announced the kick off of its month-long initiative "September is for (R)Tech." RILA launched the (R)Tech Center for Innovation in 2017 to help retailers navigate the industry's transformation through research, insights, collaboration, and exposure to new technologies. Now in its second year, the Center will mark September with a release of brand-new research, launch its (R)Tech Innovation Network, host a retail-focused challenge at MIT's annual HACKMIT event, and announce its collaborative (R)Tech Open Innovation (ROI) Engine initiative.

"We are excited to continue helping America's most recognized brands connect with cutting-edge startups, access a growing talent pipeline, and find new ways to accelerate their business," said Adam Siegel, Senior Vice President of Innovation for RILA. "The industry has seen tremendous growth, which shows that a focus on innovating the consumer experience has only furthered retail's transformation. RILA looks forward to using September to highlight the great work our members and the (R)Tech Center are doing to move the industry forward.”

Later this month, RILA will launch two key pieces of research that will help the industry focus on the wants and needs of the 21st century shopper. In partnership with Accenture, RILA will release "Delivering for a New Consumer," a look into the wants of a today's consumer and the ways in which retailers are meeting demands. RILA will also release additional research on "Shopping Styles in the (R)Tech Age," which defines the 10 distinct shopping styles of Millennial and Gen Z shoppers.

"September is for (R)Tech" will conclude with the official launch of its (R)Tech Open Innovation (ROI) Engine. The ROI Engine is a platform for retail open innovation; it connects retailers to a diversity of innovative, entrepreneurial, and creative problem-solvers – which will prove to be a new way of addressing complex business needs in a rapid, cost effective, and efficient way.

RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.