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As we enter 2023, we thought it would be appropriate to list the big trends that will mark this year in the retail sector. The year 2022 was full of twists and turns, and saw the rise of omnichannel shopping experiences and the continuation of the success of QR codes. You'll see that trends such as the explosion in customer acquisition costs are likely to continue into 2023.
The Pimster team will let you discover what the year holds for retail. 👉
As we explained in our previous article “How much do your user manuals cost you?”: “retaining a customer would cost up to five times less than winning over new ones”, according to Dawkins and Reichheld in “Customer Loyalty as a Competitive Weapon” (1990).
Beyond this reality, the costs of acquisition have recently exploded, especially with the increasing costs of online advertising campaigns.
Indeed, costs per impression (CPI) have increased as a result of:
As a result, the increase in cost per impression has inevitably led to an explosion in customer acquisition cost.
Enhance your post-purchase customer experience! To help you, we have written an article on the subject: the objective is to increase your customers' loyalty by taking care of the onboarding experience and the maintenance advice for your products.
This includes the digitization of your product information with Pimster, to make it interactive guides. This also allows you to track your customer data and to propose call-to-action directly in the interface.
Our clients use them mainly to redirect their customers to complementary or maintenance products.
This way, you don't need to blow your marketing budget, you diversify your revenue sources through post-purchase.
It has escaped no one's notice that costs of raw materials have recently jumped following the pandemic and the war in Ukraine. Electricity prices, gas prices, paper prices... An explosion that is not without consequences on production, and that will continue to be felt in 2023.
Indeed, the American bank Goldman Sachs has announced a new overflow of raw material prices in 2023, due to under-investment in the sector, which could lead to shortages during the year. The bank is forecasting a 43% rise in prices, and while this makes it the best performing asset class, the cost to your brand will be no less.
An increase in your production costs and, in the worst case, shortages of raw material supplies.
Your challenge will be to determine whether your company can cost raw materials by reducing its margin, or whether you choose to pass this increase on to your customers. Another solution is to rethink your production and distribution systems, turning to digital or greener solutions. This allows your company to move towards a more sober and intelligent production.
Want to know more about the recent increase in paper costs and possible solutions? We encourage you to read our article on this subject.
Private labels have grown significantly in recent years and now account for over 39% of sales in France. The increase in private labels has only just begun. During the presentation of its strategic plan for 2026, Carrefour announced that it would place its private labels at the heart of its model, aiming to achieve 40% of its sales with private labels by 2026, compared to only 33% today.
Your brand will be in direct competition with private labels, and the availability of shelf space for your products will be reduced.
Moreover, for your products to stand out, they will have to address a differentiated storytelling highlighting your brand's uniqueness and values, as well as a promise of higher quality.
The consumer has become much more demanding in terms of the customer experience offered. So, if you want to avoid differentiation on price, you need to differentiate by offering omnichannel experiences and developing your online distribution (point number 5 of this article).
Here is another phenomenon that will continue into 2023 and will have heavy repercussions on your sales, the lull in this area will only come in 2025 according to the Bank of France.
It is certain that inflation is weighing on the purchasing power of households and is shaping new consumption trends:
Do you see other retail trends for the year 2023? Let us know what you think by sending an email to contact@pimster.app