On Thursday, November 2, FACC-NY members and guests gathered for an event on "Experiencing Beauty in the New Age: Technology & Retail".
In a panel moderated by Pauline Brown (longtime Luxury industry executive and Host of Sirius XM's "The Tastemakers"), attendees heard from Guive Balooch (Global Vice President, L'Oréal's Technology Incubator), Susan Olivier (Vice President Business Development, Dassault Systèmes) and Scott Sassa (Chairman, MILK Makeup). One lucky winner also won a pair of Business class tickets on Air France between New York - JFK and Paris - CDG.
Among the key takeaways from the conference were:
- Leveraging anonymous big data and machine learning to be predictive.
- Evolution of retail as a place of fulfillment vs. showrooming: personalization, customization, 3D printing.
- Role of multibrand retailers (curation, brand hierarchy).
- End-to-end product experience.
- Social component to in-store shopping.
- The balance between product choice and brand curation. How will technology allow consumers to compare more products quickly without being overwhelmed.
- When and why to invest in new technology? How will technology help brands differentiate themselves?
- Effectiveness of influencers / how to create authenticity that resonates.
- Predictions for the industry by 2030
- Scott Sassa: Little change; the core purpose of the product will remain the same.
- Guive Balooch: Machine learning and neural networks will shed light on consumer behaviors.
- Susan Olivier: The increased intersection of data and personalization; adaptability.
We thank our sponsors, Air France & Delta Airlines and Dassault Systèmes, for their generous support. We also thank our reception partners: Les Trois Petits Cochons, Maiden + Liberty and Lillet for creating a festive environment for networking after the conference.