Three Major Retail Trends to Look Out For this 2023

The year 2022 has manifested the importance of technology in the retail landscape, and it will continue to evolve as we welcome a new year. For 2023, it is essential to have retail-tech initiatives, customer-centered services, and flexibility to flourish in the business scene. 

To get ahead, here are the highly expected 2023 retail trends you need to watch out for! 

This year, 75% of retailers are already doing business on social media as they post enticing contents that lure customers to make a purchase. This data will continue to grow, and you should not be left out against your competitors. 

Aside from that, the entrance of influencer marketing has been considered more effective than brand videos. Followers of an influencer are more persuaded to try out products they promote as they find these individuals more trustworthy and relatable. 

Additionally, reviews and ratings of products are becoming more relevant to customers’ purchasing decisions. In a poll from LinkedIn, 41% stated that they find these as essential factors in preferring a product. Thus, you must incorporate these options into your marketing strategy to further your brand promotions. 

Also, customers highly favor personalized shopping experiences. More than half, or 60% of shoppers noted that they prefer coming back to a store that offers promotions or special offers tailored to the personal data they provided. With this, custom deals are not add-on components anymore, but are highly relevant to customers’ shopping behaviors that can impact your sales and profit. 

Moreover, the number of conscious and socially woke customers is growing. This constitutes the emergence of a circular economy valuing sustainability and brand efforts toward the environment. Retailers need to adapt and be flexible with these concerns, as it impacts audiences’ decisions to choose socially responsible stores. 

With all these expectations for 2023, now is the perfect time to prepare for what’s about to come for the retail industry. 

Retail Smart Guys, a long-established consulting company for independent retailers like you, has what it takes to help future-proof your business. 

We got technical specialists for advancing your technological options, social media experts that produce remarkable results, professionals for crafting marketing strategies, and so much more!

Start preparing for the future today. 

With Retail Smart Guys, you’ll welcome 2023 with a bang!