As we close out another year and look ahead to the next 12 months, one thing is clear: 2023 has been a year of laying the foundation for what’s to come. We’ve already seen enormous growth in the commerce and retail media landscape as tech, capabilities and data platforms have grown and mobilized but we can expect 2024 to be the year we bring it all together in better service for the consumer. We’ll hopefully see greater unification when it comes to standards and data measurement. We’ll also see AI move from a tactic to an integral piece of everything – content creation, data organization, search queries, product development and optimization, fulfillment and so much more.
Consumers today are looking for quality products, but also cost-conscious in light of macroeconomic conditions and shifts. This means brand loyalty is even harder to win and keep, when new players and constant, connected commerce is possible for all consumers. The funnel has collapsed, and media has become more transactional. Yesterday’s impulse buy in the store can happen anywhere. Brands who want to be successful need to find ways to be top of mind and increase stickiness across their entire brand journey.
We’ll also see non-endemic brands enter the retail media space as another way to connect with consumers. While this is another connection point, it doesn’t mean more dollars allocated, so brands will need to prioritize spend.
From AI to CRM to loyalty to a refinement of retail media as we know it, 2024 is sure to be a year of continued evolution and growth.
Check out the Publicis Commerce 2024 Trends and Predictions Report which includes a further breakdown of the prominent trends in 2023, a reflection on our 2023 predictions and their outcomes, and a forward-looking analysis of anticipated trends for 2024 through a consumer-focused lens as well as predications from our leading execs across Publicis Commerce to learn more about what the next year has in store.