The way consumers and shoppers are interacting with retail brands is evolving at break-next speed, the 2023 Outlook Report explores the ways in which brands and retailers are adopting new methods to attract and retarget consumer and shoppers in a highly converged world.
The 2023 Outlook Report series is a 4-part report covering key industry issues and forward-looking trends to help inform your strategies for the year ahead.
Winning in the new age of customer experience
Shifting Shopper Behaviours
The Next Advertising Frontier
The Future of Retail
The Next Advertising FrontierDownload the free report
Savvy shoppers are increasingly finding new ways to digitise all aspects of their daily lives, and there’s no industry where that’s more apparent than in retail. While digital brings opportunity, it has also created a fragmented media landscape. We’re bouncing from different devices or platforms every day – whether shopping on a retail website on our laptops, watching connected TV in our living rooms or listening to a podcast on our phones.
As such, the online shopper journey is no longer linear. Omni-channel demands an ongoing cycle of touchpoints, providing continuous inspiration and exposure for customers.
of online shoppers say they are somewhat or very concerned about a retailer’s use of data provided via their transactions so “clear communication around the data value exchange to make shoppers more comfortable to provide their data” is critical.
IAB Australia research also reveals that nine in 10 advertisers already use retail media advertising campaigns to increase sales with over half saying the top opportunity is getting access to first-party data.
Global retail e-commerce sales are expected to reach about US$8.1 trillion dollars by 2026 while e-commerce advertising spend will more than treble from $US58 billion globally over the next three years.
IAB Australia research reveals that 31 per cent of Australian RMN investment is coming from new budgets, while 69 per cent is reallocated from other budgets (such as digital advertising and trade retail budgets).
For brands, successful e-commerce marketing needs to translate the best of in-store to online to reach the rapidly growing cohort of digital traffic (currently +36% year-on-year).
Insider Intelligence forecast Walmart to grow its US digital ad revenues by 42 per cent in 2023, outpacing Google, Meta and Amazon, augmented by its massive physical footprint delivering in-store retail media opportunities.
What’s your long-term strategy?Download the free report
Smart data utilisation will amplify your understanding of and dialogue with the consumer. The future is about using technology in ways that create more time and value – for your company and your customers.
That future is already here.
Are you ready?
That’s a wrap
The 2023 Outlook Report series is now concluded, in this 4 part series we’ve covered key industry issues and forward looking trends to help inform your strategies for the year ahead.
Contact your Circana representative to find out more.