Can you believe it's already mid-January?
And New Year Resolutions is not the only thing I’m trying to catch up with.🥲
Industries have revolutionized. Consumer patterns have changed. Shopper’s loyalty is at Stake! Buying preferences are evolving. Retention is the popular buzzword in this competitive market. All of this is happening very rapidly.
And I know I am not the only one trying to cope with these trends (don’t worry. I got you💪)
Dive into this newsletter as I uncover the 5 Retail Trends that you cannot afford to miss this year:
Brands today have turned the pages of traditional ways & are more focused on building long, strong, profitable relationships using digital touchpoints and new-age CRM is playing a great role.
Here are the key CRM trends that you should be looking for in 2023 in order to stay ahead of the competition:
- eCommerce → Once a King, always a King👑
eCommerce is clearly here to stay so retailers need to really up their game when it comes to committing to eCommerce & supplant the in-store experience.
But to put out an effective strategy, brands need to dig deep into understanding their customer journey and use the information to interact with them at each stage.
- ‘Say No to Personalization’ instead adopt the Right Personalisation✅
Retail has had a complicated relationship with personalization. Even those who have implemented personalization in retail haven’t done it right. 2023 is going to be all about 1:1 personalization where brands dig deep into customer needs & preferences.
- Customers Privacy: An updated model for building Trust🙌🏽
With the risk of Cyber Attacks and the leaking of personal data in 2022, 60% of consumers are more concerned about their privacy now than a year ago.
Brands that want to get personalization right must respect their customers’ desire for privacy to not jeopardize customer trust. Ask them to opt-in to personalization campaigns and make sure they consent to their personal data being used by your company.
- The good-old Omni . . . .🛒
- Whatsapp to replace . . . . . . .🤯
Oh, you don’t want to play fill-in-the-blanks? Oops.
(jk!) Well, worry not, we’ve talked in detail about all these 5 strategies in our new blog.
🎙️New Podcast Update: F&B and Data - A highly Delicious Cuisine
We bet, Data never tasted so good!😋
Catch Divya Agarwal, Chief Growth Officer, Impresario Handmade Restaurants on Xeno’s podcast talking about the Power of Data in the F&B industry.
Pull up your headphones and listen to the second episode of Xeno Presents Retail Reimagined🎙️ for a bite-sized feast of knowledge on how Data is transforming the F&B Industry.
Listen to the full episode here: Unlocking The Power of Data in F&B ft. Divya Agarwal 🎧
That’s all for today.
I hope you have the best week ahead.
p.s. BRB gotta go pack my bags for Xeno’s first offsite of the year. Follow us on LinkedIn to get live updates of all the madness straight from Rajasthan.🐪
Until next time😉