"The Ultimate Guide to Retail in 2023" Looks Ahead to Trends, Offers Tips

“The Ultimate Guide to Retail in 2023,” a 30-page e-book from Channable, is divided into five sections. Below you will find each listed with an excerpt from the report, which also contains case studies, observations and predictions from marketing experts, major trends to be aware of as you plan for 2023, and scads of data.

1. The future of retail is multi-faceted

“In a nutshell, the retail space is constantly evolving, so it’s important to build a solid foundation for your strategy while understanding the multi-dimensional space you’re operating in and not relying on a one-size-fits-all model—all while using data-based insights to optimize your strategy along the way.”

2. Key trends in retail for 2023 and beyond that are here to stay

“Personalized customer experiences provide ways for brands to offer unique goods and services—and, more importantly, it’s what consumers today expect. Research indicates that 80% of shoppers are more likely to make a purchase when brands offer personalized experiences…. Personalization, which can be delivered throughout all interactions with a retailer, has experienced a recent challenge, however—the end of third-party cookies. This has forced brands to rethink their personalization efforts, placing greater emphasis on first-party data and ensuring it is connected to their marketing strategies.”

3. What makes a great retail strategy: An end-to-end framework

“Retail means change. Hardly any other sector is experiencing changes as strongly as today’s retail industry, which has undergone a significant transformation over the past decade and continues to evolve quickly.”

4. Tips on including Conversion Rate Optimization (CRO) in your retail strategy

“CRO is the process of optimizing your e-commerce website for more sales. When you want to optimize your website for more conversions, there are plenty of strategies you can implement for different pages. We’ve talked with numerous e-commerce stores to understand the best methods for enhancing conversion rates… and shared a few easy-to-implement CRO tactics.”

5. Key takeaways

“The retail sector is an exciting place right now, with shifting consumer behaviors and evolving technologies requiring brands to be agile, creative, and future-looking. Some of the major trends affecting the industry—from social commerce to personalization, to diversification in terms of market, channel, and audience—present significant challenges for new and existing brands. But these pale in significance with the opportunities on offer. Making the most of these opportunities will require retailers to pursue an omnichannel, end-to-end strategy that leverages real-time data to deliver customer loyalty, lower costs, and enhance marketing performance.”

Go here to download the 30-page report from Channable.