What lies ahead for retail marketing in 2023?

#Retail #marketing plays a key role in building customer loyalty and building brand and product engagement. A brief overview of what you need to prepare for the marketing department

Changing #consumer buying habits

The buyer has become more attentive to his family budget and makes a more balanced purchase decision, trying not to succumb to emotions

Increasing the number of points of contact

As consumers switch between scrolling through apps and comparing prices and reading #reviews on their computers, #shopping in 2023 will require more attention from brands. The new shopping journey will include multiple touchpoints and channels, not just in-store and online shopping, but also social #commerce, native apps and online communication, requiring a new approach to marketing. As omnichannel commerce grows, marketers and #retailers need to focus on omnichannel marketing to reach their audience.

Omnichannel #marketing aims to tell a coherent brand story across all customer touchpoints across all available channels (online and offline) to support each other and build loyalty. For example, a #customer can view an item through the seller's app and receive a reminder email that lists the item, the nearest store, and the option to reserve it. With this information, the customer can receive their product even faster and more conveniently, and personalized communication will make it easier to interact with them. In the new 2023, retailers must implement an omnichannel marketing #strategy to satisfy consumers where and how they shop to create a seamless experience.

Development of #loyalty programs

While shopping, many consumers use their #digital devices to compare product prices and read reviews to find the best deal. As shoppers focus on cutting costs without sacrificing quality, it's becoming increasingly difficult for retailers to maintain customer loyalty in a sea of lower prices. Traditional #rewards programs—purchase equals points—have less value and will no longer reduce value for consumers. Loyalty isn't just about offers and points; it's about creating unique and positive interactions with customers at every stage of interaction with them.

#Loyalty programs allow you to convert points into dollars to save on purchases, but in 2023 retailers will move to programs that offer shoppers personalized, relevant and more tangible benefits, such as cashback and member discounts. Competition in retail is fierce, but these loyalty programs can differentiate one retailer from another and encourage customers to buy more, interact more often, and increase their loyalty.

#Personalization with customer data platforms

As retailers embark on a digital transformation, personalization will become even more important in 2023. Each stage of the customer journey, from awareness to purchase, requires a certain level of personalization to engage and engage. customer attention. According to #McKinsey, 71% of consumers expect personalized interactions from businesses, and 76% get frustrated when they don't, pushing them towards competitors.

Using customer behavior as well as zero and first party data to create personalized content will play a major role in engaging customers along the way, but that's easier said than done. Buying #behavior of customers is rarely linear. It often includes multiple devices and is constantly changing, but it is an integral part of retail marketing. Customer Data Platforms (#CDP) can be used to manage data and create a scalable end-to-end view of customers across channels based on the marketer's needs. Customer data can also open a revenue stream for retailers through Retail Media Networks (#RMN), a retailer-owned digital platform that gives marketers access to primary customer data such as purchases, which they can use to create personalized ads on a retailer's website. .

We will see a surge in the number of retailers using CDPs to create a holistic view of their customers in 2023 and using customer data to create RMNs now that personalization is a requirement for customer acquisition.

From pandemic shutdowns to supply chain disruptions, retail disruptions have required brands new agility and innovative solutions to attract and retain customers. In 2023, customers will continue to search for personalized, valuable content at every step of their purchase journey. Due to rapid #digitalization, retailers and marketers will need to adjust their strategies to be more customer-focused, more digital, and more profitable in the long run. #retailcustomerexperience

Short #presentation of #Uployal for creating and managing loyalty: