5 classic retail mistakes to avoid in 2023 and how Voyado will guide you to success this year

Time moves fast, retail landscapes change often. In 2023, the biggest mistake would be not to change at all. We’ve consulted the Voyado crystal ball, and talked to our retail customers and industry experts, to see what 2023 will bring. In this guide, we round up the five things it would be a mistake to ignore for the coming year. Make sure to stay updated—and download the full guide here!

Each of these five points is focused on giving your customers an intimate experience of your brand, which will see loyalty and spend increase. We’ll talk about the possibilities available in harnessing the power of data and AI to make your customers love your brand even more. Here are the top three pieces (download the report for all five points).

1. Prioritize your best customers

Have you heard of clienteling? Whether or not you’ve heard of it, it should be a key part of your strategy for 2023. Often, 20% of your customer base contribute to 80% off the brand’s revenue. These VIP customers are of enormous value to brands. Your focus should be on re-creating the intimate, personal in-store experiences for them online and you can do this by acting on your customer data.

2. Sustainability rises up the agenda

Consumers’ expectations and decision making is driven by how they perceive brands to be acting responsibly and improving their sustainability practices more than ever. Globally, 60% of consumers consider sustainability as an important factor in making purchase decisions. As pressure on brands mounts from consumers, it’s vital that good communication is made around sustainability as it will help consumers to choose one brand over another.

3. Social commerce expands, don’t get left behind!

Social Commerce continues to grow, it is expected to exceed traditional commerce by 2025. Needless to say, in 2023 it is high time to sharpen your social game. If your target consumer is Gen Z then it’s high time to get to your TikTok feed on point, but make sure that you are present, active and genuine. Don’t underestimate the power of social selling: 74% of consumers rely on social media when making purchase decisions.

About us:

Voyado is the ultimate solution for personalization and relevance across all channels—online and offline. Used by retailers and e-commerce companies across Europe, the Voyado customer experience cloud makes it possible for every brand to engage customers, elevate shopping experiences, and evolve their own businesses. Used by more than 300 + brands such as Samsøe Samsøe, NIKKIE, Dille & Kamille, America Today, Daniel Wellington, Filippa K etc.