How retail will change in 2023?

It is difficult to predict exactly how retail will change in #2023, as it can be influenced by various factors such as technology advancements, consumer trends, and economic conditions. However, some trends that have been observed in recent years that may continue to shape the #retail industry in 2023 include:

1. Growth of #ecommerce: Online shopping has been on the rise for several years, and this trend is likely to continue in 2023. Retailers will probably increase their online presence by investing in D2C channels, leveraging the online market places and leveraging barter deals with payment providers (#paytm, #phonepe, banks etc)

2. Increased focus on #sustainability: Consumers are becoming more conscious of the environmental impact of their purchasing decisions, and retailers will need to respond by offering more sustainable products and packaging. The adoption of jute will increase sharply.

3. #Personalization and #customization: Retailers will continue to use #data and #technology to personalize the shopping experience for individual customers and offer more customized products. for the last few years, all the data collected would be probably put into use with #ai -enabled #CRM campaigns

4. #Omnichannel retailing: Retailers will continue to focus on providing a seamless experience across online and offline channels, allowing customers to shop using multiple touchpoints. See online - purchase offline and vice versa will increase. Every retailer will list their store in Google My Business.

5. In-store technologies: Retailers will continue to invest in technologies such as #augmentedreality, #virtualreality, and in-store #analytics to create an interactive and engaging in-store experience for customers.

6. #contactlesspayments and #selfcheckout: As the world continues to grapple with the pandemic, retailers will continue to invest in contactless payment options and self-checkout to minimize contact between customers and employees.

7. #supplychain digitalization: Retailers will continue to digitalize and automate their supply chain process to improve efficiency, and accuracy and also to address the challenges of #lastmile delivery.