Retail Gets Real 387. Behind the data: Insights from NRF’s top economists
Jul 22, 2025
Jack Kleinhenz, NRF's chief economist for over 15 years, and Mark Mathews, Executive Director of Research, dive into the forces shaping the U.S. economy. They discuss the critical role of accurate forecasting amid economic uncertainty and the transformative power of AI on retail operations and consumer behavior. The conversation also tackles the shift toward a global retail landscape and how evolving shopping habits are influenced by technology. Insights on literature and advice for students round out this engaging exploration of economics and retail.
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Episode notes
Retail Data Revolution Post-COVID
- Technology has hugely transformed how retailers gather data, especially post-COVID with new high-frequency data methods.
- The rise of e-commerce and social media has deeply changed consumer behavior and data analysis approaches.
AI Transforming Retail Experience
- AI is rapidly transforming retail by autonomously optimizing product pages to increase consumer engagement.
- This technology enables retailers to personalize offerings and reach broader audiences more effectively.
Consumer Acceptance of AI
- Consumers have adapted to using AI as a tool while society debates its economic impact.
- History shows technology transforms but doesn’t eliminate jobs in retail or other sectors.
