CAPITALIZE ON THE RETAIL REVOLUTION NOW New opportunities in the retail landscape present lucrative silver linings in 2023—especially for ecommerce. One key indicator points to nearly a quarter of all millennials spending significantly more online this year compared to those planning to shop at in-person retail outlets. Oddly, another silver lining is the positive effect the pandemic had on ecommerce spending across the board. Necessity and convenience increased acceptance of the digital marketplace for consumers of all generations, unlocking massive potential for retail marketers. Admittedly, It’s Not All Rainbows for Retail—but You Control the Narrative Recent news cycles flirt with doom and gloom inflation concerns, companies announce layoffs, and hand-picked trends might obscure your outlook. For instance, according to the National Retail Federation, retail sales grew by 7% in 2020, 14% in 2021, and only 2.8% in 2022. Compare that to the steady growth of approximately 3.7% per year from 2010-19, and your first instinct may be to lay low. But that’s not the right approach if you want to finish the year strong. Don’t let headlines and trendlines tell your business’ story. It’s time to control your own retail narrative.
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