Trends for 2023 in non-food, according to Jorg Snoeck
The year 2023 didn’t present itself under the best of auspices. The challenges are many. But brands and retailers can help with that. For some of them, we will not let them choose.
Trend #1 Re-wire
ChatGPT, MidJourney, Epic Diffusion… Need we say more? 2023 will be the year of artificial intelligence. In just three decades, we have gone from digital-first to mobile-firstthen to AI-first.
The past few years have seen a shortage of almost everything a business needs, from raw materials to containers to personnel. And even though the pressure has eased a bit, the costs are still high – much higher than before. What’s more, and as we explained last week, this scarcity has a structural character: labor shortages are inevitable in the context of an aging population, whereas resource shortages are a natural consequence of the increasing pressures we are exerting on the planet. .
Faced with fears that consumers will cut spending further this year, both retailers and manufacturers are focusing on opportunities to automate their processes – from production to customer service. For example, chatbots and other more basic AI tools can answer frequently asked questions, giving employees more time to deepen their interactions and relationships with customers. AI also enables retailers to provide their employees with information (from purchase history to preferences and product information) and the tools necessary to provide a personalized experience.
Trend #2 Resell
According to GlobalData, the used goods market will grow by 127% in 2026. For example, it will weigh 141 billion dollars in 2023, compared to 119 billion last year. North America remains the largest market, ahead of Europe and Asia by about the same. In the European Union, used goods already account for 10% of the total e-commerce market, and their share could reach 14% by 2025.
This growth was mainly driven by inflation and rising prices: this is the reason given by 93% of European consumers who buy or sell second-hand products. It is therefore expected that 2023 will be a new flagship year for the second-hand market, which will also enhance its eco-friendly image: buying second-hand has a guilt-free effect, especially on young consumers who are faced with strong psychological pressures. pressure.
For retailers, this requires reclaiming ground with consumers. Because the used goods market is still dominated by C2C platforms (where consumers sell to consumers) such as Vinted and eBay. As a result, a number of retailers and brands are trying to take a piece of the pie by offering their own used items. Refurbished electronics in Crefel for baby rompers for a few euros on Zeeman.
Trend #3 Rediscover it
Those who think location has become unimportant since the pandemic are wrong. Instead, location has become more critical than ever. Of course, working from home more and ordering more online also means we buy more local products.
But at the same time, major cities are bouncing back with the return of tourists. Including national tourists: Belgians are again moving to get out, eat and stroll the shopping streets. Each location type has its own function, and it’s increasingly important to provide separate locations for different functions.
Today, people are consciously choosing where they want to live, work and shop. Although the pandemic briefly highlighted the benefits of rural living, urbanization is continuing globally. Over half of the world’s population now lives in cities and we are headed for 80% in the long term.
Trend #4 Regenerates
The 2023 Motor Show is coming to all and for both diesel cars. Driven by increasingly stringent environmental regulations and standards, automakers are betting everything on electricity. And the automotive industry is not alone in going green. Retail and FMCG will also not be separated from sustainability in 2023.
A trend that has already given big corporations a headache: Danone is facing lawsuits for not explaining precisely enough how it intends to reduce its plastic consumption; Carrefour and Auchan, among others, face a similar situation.
The kind of adventure a company and its investors would easily embark on. Because now seeking financing without ad hoc ESG promises and provisions is an illusion. Not only banks and investors are demanding, but investors are also demanding. Green bonds thus remain very popular while traditional financial markets are on their last legs.
Therefore, we should expect even more ecological and sustainability promises in 2023. With the structural challenges facing our world, companies are also realizing that they no longer have a choice.
Trend #5 Board Reset
Welcome to year three of the “twenties transition”: this new decade of uncertainty has properly and properly started. And hang in there, it will vibrate. But how can retailers and brands make this journey more enjoyable for consumers? How can they help them? By offering them moments of comfort and relief.
In the same way consumers try to cut spending and tighten their belts, businesses can enhance and deepen their relationships with their customers. Expand retail mission and store goals. In the context of the “servitization” of retail, services and solutions are more than ever on the agenda during periods of economic slowdown. Whether it’s health advice or DIY tips, brands have an opportunity to position themselves as partners in consumers’ lives.
The relationship between consumers and brands is changing and feelings of community and connection are increasingly central. For brands, stores are transformed into churches, where like-minded people meet, live and share experiences together.
On all these trends and more, don’t miss out The future of shopping: Re-set Re-re-made Re-tail. Nominated by BAM in the 2022 Marketing Book category. Help retail and FMCG win…