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Trends to Watch for in CPG & Beyond in 2023

Table of Contents

Intro:

What a year 2022 has been… Between the staggering inflation rates that are affecting brands & consumers to all of the unpredictable market shifts in between, it has been a wild ride. 

With that said, the holiday season is here. We are ready to close out 2022 and say “hello” to 2023. 

Here are a few trends that we are seeing that we think will stick around for the new year:

  1. The demand for eCommerce will continue to increase. A survey was taken this year by Numerator on holiday shopping online which report 82% of consumers said they will be shopping online for their holiday purchases. This number continues to increase year after year with no signs of slowing. 
  1. Convenience still reigns supreme! People will continue loving their direct-to-consumer services like on-demand delivery (even with the rising costs of groceries). Instacart, GoPuff, & other direct-to-consumer brands have brought us the simplicity we all need someday. Consumers like the option of paying a little more to avoid crowds or leaving the house on a rainy day. 
  1. Brands will leverage more first-party data from retail media networks & campaigns to reach customers. Retailer-owned advertising allows brands to purchase ad space across digital assets owned by a retail business to easily target new buyers & meet customers where they are. Examples include Nordstrom Media Network, Walmart Connect, & Amazon Advertising. Their retailer advertising networks use first-party data on customers to reach shoppers throughout their buying journey.
  1. Transparency into campaigns & analytics is necessary, not optional. Brands can no longer wing it in marketing campaigns & growth initiatives. The importance of providing teams with the tools to support business goals & deliver real insights on performance will be vital this year. Brands know they need platforms like SocialLadder to provide data to understand what strategies are working — 2023 is the year for educated & data-driven decision-makers. 

Final Thoughts

Collaboration & partnerships are still key. Brands will continue to connect with customers, ambassadors, creators, and affiliates to find the best partners to collaborate with. More brands will be focused on finding the people who genuinely love their brands. A quick tip: Look for people who want to see your brand grow & work with them to drive real word-of-mouth referrals, cultivate content, & make meaningful marketing moves together.

Read more from the original source here.

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