As Amazon stumbles, planning to lay off ten thousand workers, drastically scaling back its facilities plans and missing earnings forecasts, ascending rival TikTok is becoming more of a globally dominant behemoth, day by day. The latter reportedly began testing an in-app shopping feature with select U.S. retailers last week.
The CPG industry is evolving faster than ever. Nearly everything about the category has changed, including the way brands develop and bring products to market. Also, inflation puts pressure on marketing budgets, loyalty is weakening and younger consumers have higher expectations and tend to be skeptical of advertising efforts.
Retailers should consider the impact their social strategy elements have on customer trust. This includes your choice of social platforms, the payment methods you accept, how you screen orders for fraud and how you safeguard your brand presence on social media. Identify the platforms your customers trust the most.
Now that 3P cookie targeting is on its way out, thanks to Apple and Google sunsetting them in 2023, brands will need new targeting and measurement strategies. DTCs need to start now to put in places alternative forms of measurement in order to restore their advertising performance and attribution capabilities.
Brands have always sought to align themselves with media and messaging most likely to prove influential among core audiences. But today, even the way in which consumers are influenced—and to what extent—is proving to be a defining trait of certain groups. Learn how influenced consumers are a group worth paying attention to.
For the past decade, brands have scrambled to serve millennials, the first internet-obsessed generation that forced them to rethink ecommerce selling strategies. Now, they are reinventing as Gen Z gears up to enter the workforce and fast becomes a formidable force in the economy. Is your ecommerce platform ready?
Social commerce is a great, cost effective way for merchants to expand channels and visibility. 36% of U.S. internet users say social networks have become as important as other information sources for making product choices and 70% of shopping enthusiasts say they turn to Instagram to discover products.