Street fight magazine has picked out the top four retail marketing trends in 2022 that are expected to pick up steam in 2023.
1. Brands Choose Between Retail Media and Their Own Walled Gardens
Brands that don’t have their own first-party data and a direct relationship with consumers will lean harder onto retail media networks like Amazon, Walmart, Target and others, which are estimated to triple what they were in 2019 to $37.39 billion in ad spend per eMarketer.
On the other hand, brands flush with data will opt to pull out of these data networks and build their own walls, leading consumers to go directly to their website or app.
2. TikTok Takes the Lead
The past several years have been a YouTube-dominant video market, but now for the first-time advertisers are going to TikTok first.
3. Retailers Will Get More Efficient with Merchandising Investment
Brick and mortar stores will start leveraging QR codes on merchandising displays and tags. This link can serve any number of actions depending on the specific item, inventory status, or store location, and it allows for the opportunity to turn on, off, or adjust offers without having to change the physical shelf tag or endcap.
4. Shoppers Will Seek a Direct Path to Purchase
Customer experience on the website will be essential for converting online purchases. Online shoppers who have the time and willingness to engage deeper should be offered relevant features and content. But for the shopper who is time challenged and knows exactly what they want, they need to be offered a direct path to purchase without any extra noise.