Pro Tip: As we as an industry look ahead to 2023, understanding how to read and react to consumers is key to success in an unstable economy and retail environment.
- Retailers need to find the right balance of investment by channel, as e-commerce levels off and physical stores regain importance.
- Moves by brands toward first-party data will shift the landscape and balance of power in the brand/retailer dynamics.
- Innovation in store formats, assortments and products are imperative to hold the consumer’s attention with so many other distractions.
As retailers prepare for 2023, innovation will continue to be a driver in getting brands where they want to be. Retail Leader Pro reached out to technology executives across the retail industry to share predictions on what the next year will look like, including how they expect their technology to play a role in transforming the industry.