As the retail ecosystem rapidly evolves, companies must adapt their strategy to meet the needs of consumers. Now, new challenges must be faced, such as more sustainable marketing, social commerce or the ultra-personalization of the customer experience. But how do you succeed in your retail strategy by taking a more fluid, omnichannel approach to deliver the right products to the right audience, on the right channels, at the right times?
To help you prepare for your upcoming campaigns, Channable, the solution that lets you optimize your feeds and automate your SEA ads, presents this definitive retail guide for 2023. Ecommerce experts share their advice with you and reveal emerging trends Next .
Download the retail guide for 2023
1. A global approach to e-commerce
With more than half of e-commerce retail sales made in the Chinese market (52.1% according to Shopify’s numbers), brands that are expanding internationally must integrate this global approach into their strategy.
The advice: recreate the personalized experience they can find in-store and that they enjoy throughout the entire shopping process, especially when purchasing high-quality items.
2. An increasingly personalized customer experience
Privacy has become an important issue for brands, as explained by Aida Oghabi, Google’s global product marketing manager and speaker at the Impact Cube event hosted by Channable. Personalizing the customer experience should allow us to better meet their expectations, through personalized email campaigns, for example.
3. The explosion of social commerce
This is one of the big trends in this sector: social commerce offers brands a particularly powerful new lever, by offering customers the possibility to close sales directly from social platforms. The other advantage lies in the ability to generate interactions with your audience.
You can use social media to turn strangers into friends, friends into customers, and customers into salespeople, says Seth Godin, American entrepreneur, author, and renowned marketing expert.
4. The need for an omnichannel strategy
In order to properly engage consumers at every stage of the buying journey, retail players have a vested interest in offering a complete experience across all channels in order to reach more customers and retain them.
” A holistic, integrated approach to retail is becoming more important than ever “, emphasizes Channable in the guide.
5. A strategy that aims to optimize conversion
Conversion rate is an essential KPI for all retail professionals. Its optimization allows retailers to put all odds on their side to convince a potential shopper to follow through on their purchase journey.
Investing a small part of your marketing budget in conversion rate optimization can have a huge impact on your performance, says Andrew Lolk, founder of digital marketing agency SavvyRevenue.
6. The second wind of artificial intelligence
Among the latest technological innovations, artificial intelligence is about to experience a new dynamic, according to retail experts. Over the next two years, AI is expected to impact the industry, particularly in terms of customer intelligence, predictive analytics, and machine learning.
The goal: ” improve demand forecasting, make better pricing decisions and optimize product placement “.
7. Managing Rising Advertising Costs
As the rising costs of digital advertising continue to impact budgets, retailers’ return on ad spend (ROAS) is an increasingly difficult challenge.
The advice: stay tuned to deliver consistent messages and ensure that the advertising cost responds to the implemented strategy.
8. The seasonality of activities at the heart of your retail strategy
As e-commerce becomes more and more fluid, you need to be flexible so that you can meet your customers’ needs year-round, across all channels. Your retail strategy must therefore take into account the seasonality of your activities and important events such as Black Friday.
Want to learn more about each of these retail trends to follow to prepare your campaigns in 2023? The guide issued by Channable also offers practical advice to apply to creating ultra-targeted campaigns and succeed in your retail strategy, with important case studies. To discover them, you can download the best retail guide for free by clicking the link below.
Download the retail guide for 2023