Logicbroker’s Key Takeaways From Shoptalk 2024

With a… Ludacris… week behind us (yes, we will never stop making Ludacris puns), we wanted to highlight our key takeaways from the conference. With over 100 speakers and dozens of panel discussions covering every facet of the retail and eCommerce industries, Shoptalk 2024 was memorable for a myriad of reasons but most notably because of the renewed focus on customer demands. 

Without further ado, here are our key takeaways. 

1) Customer Needs Are Changing Faster Than Ever Before

We all know we live in a world confined by social media trends. The most popular brands and gadgets are driven by which of these products can win the hearts and minds of influencers and experts alike. Because of this, Shoptalk 2024 had dozens of discussions about best practices when approaching this challenge, and the discussions boiled down to speed-to-market. 

Organizations like Shein and Temu are fundamentally changing how retailers and brands can approach speed-to-market strategies. While Temu has thousands of products uploaded seemingly daily, many retailers struggle to onboard new suppliers, let alone products, in a tenth of the time. 

At Logicbroker, we talked with many stakeholders on the importance of speed-to-market strategies and tools including our own Product Discovery toolset that lets suppliers connect their Shopify and Squarespace accounts for instantaneous product onboarding. Simple tools like that make all the difference when you’re trying to capture sales from the largest marketplaces that are moving faster than ever before. 

2) Managing Profitability and Margins

Rising customer acquisition costs, shipping costs, operating costs, and more are forcing retailers to get creative finding new revenue streams and improving margins. Namely, the focus at Shoptalk and in our further conversations is centered around profitability. How certain programs, partners, and more keep retailers and brands profitable. 

Over the last year, Logicbroker has seen a renewed interest in both our client base and outside customers looking to capitalize on the speed-to-market benefits our multi-vendor commerce platform offers. This interest is directly tied to profitability as Logicbroker’s platform reduces the need for FTEs, automates all supplier onboarding processes, and provides the product discovery tools most organizations need to continuously improve their selection of goods. 

Additionally, name brands are looking at ways to build their own D2C selling environments to improve data access and revenue. Traditional retailers are exploring different fulfillment models like Buy Online Pickup In-Store (BOPIS) to help curb shipping costs. These innovative, creative ways to reduce overhead and improve customer lifetime value will be a huge boon for the industry. 

At Shoptalk, several conversations revolved around how big retailers like Walmart are working to stay cash-positive. Walmart has begun selling ads, focusing on different fulfillment services, improving customer service, expanding its data services, and zeroing in on new delivery services to help manage its customer base more efficiently.

3) Building Meaningful Customer Experiences 

The first two takeaways may make it seem like we are all hunky-dory, but plenty of work still needs to be done. Through all of our Shoptalk conversations and various listening sessions, it has become apparent that the seamless customer journey is not yet quite there. For years, the industry has been focused on the “omnichannel” buzzword. And while that is a great term for describing a multi-channel eCommerce experience, it doesn’t quite hit the mark.

In 2024, it’s about a unified customer experience. Not one that is simply about providing unlimited means to fulfillment but one that meets customers wherever they want to shop. In-store, online, on TikTok, Roblox, etc. Retailers and brands have an obligation, if they want to capture sales and retain customers, to provide a means toward fulfillment from every avenue, not just the ones they currently support. 

At Logicbroker, we’ve been working hard to help retailers and brands on this journey and have provided connectors to companies like Wayfair, Shopify, SquareSpace, TikTok, Allegro, Tokopedia, Adyen, The Market, Nocnoc, Marketplacer, and more all within the last year to better help our customers meet their customers. 

It’s an evolving market, and the goalposts will always change, but taking the first step by providing storefronts on these channels will help your brand get noticed while improving lifetime value and recognition. 

Continue The Conversation

One of the unique aspects of the eCommerce industry is the intersection of talent, data, and technology. Logicbroker welcomes the ability to meet with customers (both present and future) at events like Shoptalk, and we welcome everyone to continue our productive conversations online. 

Visit the various pages on our website to learn more about all things multi-vendor commerce, and reach out to our team to schedule one-on-one interviews that explore how to best optimize your eCommerce experience (whether that’s with Logicbroker at the helm or not). 

About Logicbroker

Logicbroker is a premier multi-vendor commerce platform that seamlessly connects trading partners regardless of integration types. Our modern solutions empower retailers and brands to take control of their customer experience by harnessing and analyzing vital first-party data, reducing inventory risk, and curating their expanded assortment. By improving the visibility into our client’s commerce programs, Logicbroker can better position retailers and brands for transformative growth.

As business needs and demand shift, Logicbroker provides the ability to quickly switch suppliers and product fulfillment between 3P to 1P and responsibly find new sources of inventory that uphold your brand integrity and meet your delivery promise. ​We work with mid-market and Enterprise manufacturers and retailers across a number of verticals including Health & Wellness, Home Improvement, Consumer Electronics, Toys & Babies, and Consumer Packaged Goods and service brands such as Samsung, Victoria’s Secret, The Vitamin Shoppe, Walgreens, Ace Hardware, and BBQGuys.