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1、SHOPTALK Key Trends 202326-29 March 2023Mandalay Bay,Las VegasAgenda01Retail media networks02Generative AI&ChatGPT03AR-Augmented Reality04Creator economy05Social commerce06Authenticity07QSRSHOPTALK Key Trends 2023Shoptalk is the annual gathering of thousands of retail innovators who come together to
2、 shape the future of the industry.The Shoptalk agenda encompasses the most recent technologies,trends,and business models,as well as the rapid evolution of consumer discovery,shopping,and purchasingcovering everything from retail to FMCG,electronics and beauty.This year,as an ROI-driven agency,Zenit
3、h was at the forefront of the event,showcasing how to connect with consumers at their preferred shopping destinations,enhance their experiences,and engage them with cutting-edge technologies such as live streaming,generative AI/ChatGPT,AR and the creator economy.Zeniths presence was amplified by exh
4、ibition booths from Epsilon,CitrusAd,and CJ,and collaborations with Profitero,Publicis Sapient,Digitas,and other key Publicis Groupe agencies.What follows is a roundup of the essential trends from this ground-breaking commerce event.Retail Media NetworksIt seemed impossible to walk the floor or atte
5、nd the sessions at Shoptalk without being inundated with thoughts about and solutions for Retail Media.The topic has grown from being discussed by practitioners on niche shopper marketing blogs,to being discussed by CEOs on earnings calls.And theres an easy explanation for why retail media is everyw
6、here these days.Its disrupting both retail and media and is changing the way retailers and brands collaborate.Retailers should not overlook the value of their owned assets in the modern era of digital retail media.The concept of digital retail media came about when eCommerce pure-play and mass retai
7、lers began to monetise website traffic.However,this does not mean that success in retail media is limited to large eCommerce businesses.The key to a winning model lies in the combination of customer traffic and ad serving.Pure-plays have ample digital traffic,while grocery stores possess physical tr
8、affic and loyalty data.C-stores have repeat traffic and impulse shopping,and dollar stores cater to rural shoppers.Hence,any retailer,regardless of size,can transform their owned assets into valuable and productive retail media solutions.Retailers and brands should eagerly embrace technology enabler
9、s.With advancements in advertising technology,it is now possible to serve brand advertising to a retailers customers in various spaces,including the open web(i.e.“offsite”)and physical stores.Online identity-based advertising has continuously evolved to keep pace with new technology and privacy regu
10、lations.Furthermore,digital in-store technology can make any screen function like an online banner ad.These capabilities enable retailers to achieve greater scale and fully leverage the customer touchpoints that are unique to their business.Brands should broaden their retail media activation to enco
11、mpass retailers with distinctive and/or hard-to-reach customer bases,including small ones.As retail media programmes evolve,retailers are employing increasingly sophisticated tools to streamline and enhance purchasing.Many retailers now have dedicated teams to facilitate media buying and collaborati
12、on.To ensure that retail media investments align with and bolster trade and other expenditures,it is important to present ideas during joint business and category planning meetings.Generative AI&ChatGPTThere has been no shortage of discussions about how AI will revolutionise our daily lives some eve
13、n likening it to the introduction of the iPhone.But amidst this excitement for AI and machine learning,there is a growing recognition that human expertise will still be essential to effectively define,prioritise and implement these technologies.ChatGPT specifically is a hot topic in the media due to
14、 its potential to provide information quickly.With a data-driven approach,it offers a more engaging customer experience,delivering personalised content that helps retailers cut through the noise.ChatGPT chatbots can understand customer requests,learn behaviour patterns to customise responses,and eve
15、ntually anticipate their needs.Companies such as Instacart and Opentable are already using it to curate shopping lists and make restaurant recommendations.While ChatGPT has the potential to become more engaging when it fully understands human linguistics,it is still in the early stages,and effective
16、 use at scale will require a deep understanding of the technologies involved.While AI has the potential to rapidly evolve any organisation,many leaders recognise that the best implementations will depend on human talent to define and activate them.Integrating AI does not necessarily mean replacing j
17、obs,but rather creating a more effective balance of technology and talent to execute tasks.Nordstroms Alexis Depree has noted that employees are not only open to tech-powered roles,but also expect them.Caleb Pearson of McDonalds emphasised the importance of people and humanity in driving the best br
18、ands forward on his customer data and AI focused panel.By involving and empowering their employees,organisations can ensure that AI is leveraged effectively,and that the human element remains at the core of their operations.AR-Augmented RealityAR has evolved from a fun way to use Snapchat to a power
19、ful tool for personalisingengagement and testing products and services.Customers who use AR spend more time in-app and are more likely to make a purchase,while retailers who use AR experience fewer product returns.Despite these benefits,fewer than 10%of retailers are currently using AR in their shop
20、ping experiences.As the technology continues to advance,its use cases and functionality will only increase,making it an even more important tool for creating engaging shopping experiences.Creator EconomyInfluencer marketing is no longer new and has become a crucial part of brand and retailer marketi
21、ng.However,the Creator Economy is expanding the role of creators beyond just promoting brands,giving rise to new opportunities for engagement and revenue streams.Livestreams,for example,are transforming shopping into a more experiential activity.Creator network Jellysmack has partnered with Roku to
22、develop original series on its platform,providing viewers with exciting new ways to discover and shop through its shoppable capabilities and extensive reach.Retailers like Walmart are collaborating with creators to incubate and develop private label brands and products.Additionally,AR/AI technology
23、can bring creators to life,allowing consumers to get social trends from their favourite creators in-app,passing by a store,or even via digital kiosks with creator trend feeds to inspire shoppers.Social CommerceSocial commerce has come a long way since its inception and will continue to evolve as pla
24、tforms and technology advance.The initial integration of commerce into social platforms aimed to provide a seamless shopping experience including an effortless checkout process.The next evolution of social commerce is around discovery,interest and inspiration.In contrast to the previous years event,
25、there has been a considerable decrease in discussions related to live shopping.Instead,attention has shifted to optimising catalogue integration,harnessing the influence of content creators,and driving sales through retailers and marketplaces.PinterestDuring the keynote session with Pinterests CEO,B
26、ill Ready,it was emphasised that Pinterest serves as the best virtual window shop despite the absence of physical stores.However,the organisation is currently prioritising the opening of storefronts and facilitating direct purchases within the platform.Unlike other social platforms,consumers visit P
27、interest with the intention to search and shop but havent decided on what to buy yet.To enhance their shopping solutions,Pinterest is implementing the following key features:Evolving features using AI,such as visual search,personalised recommendations and ad targeting based on user behaviours and in
28、terests.Expanding the shoppable collages functionality from their Shuffles App(which caters to Gen-Z)into the Pinterest platform.Integrating retailer catalogues and deep linking to retailer landing pages.Encouraging brands to focus on short-form videos.MetaMeta is continuously developing their paid
29、and organic offerings to assist brands in selling directly through their platforms.Brands can engage and influence consumers through several cost-free options.One of the most recent and underutilised options is Guides,which allow brands to curate and share organisedcollections of content,including p
30、osts,videos,and other media,on specific topics.Instagram Guides provide a new avenue for brands to share relevant content and for consumers to discover curated content based on their interests,streamlining the process of engagement.In addition to the numerous opportunities available for DTC brands t
31、o sell directly through Metas platforms,the company is also providing various paid media options to support brands that sell through retailers and marketplaces.These options include:Utilising machine learning to optimise campaigns based on sales performance,rather than audience targeting,through Adv
32、antage+Shopping Campaigns.Measuring in-store sales and optimising campaigns in real-time with the Ansa Measurement solution.Allowing brands to enable multiple checkout solutions in the ad unit,enabling consumers to choose their preferred retailer with One Click Multi-Retailer ad units.AuthenticityIn
33、 todays consumer landscape,establishing trust is crucial for brands.Consumers demand genuine interactions across all channels,particularly with the growing#deinfluencing movement and focus on authenticity.To build trust,brands must communicate through authentic messaging,maintain a consistent presen
34、ce,and leverage diverse messengers.With Gen Z gaining market share and purchasing power,they are open to trying new products and services recommended to them.By utilising technology and partnerships,brands can engage with consumers at every step of their journey and foster genuine connections.This a
35、pproach leads to long-lasting relationships based on mutual trust and respect.While ShopTalk has primarily attracted more pure play retail brands,there was a noticeable increase in participation from the QSR(Quick Service Restaurant)vertical at the event,with prominent brands like McDonalds,Wendys a
36、nd Panera taking the stage.As brands increasingly adopt data-led strategies and build more connected ecosystems,there are many parallels in their business priorities,particularly in relation to customer-led initiatives.Although QSR brands have much to learn from their retail counterparts,they also h
37、ave much to offer.Brands across verticals are moving away from traditional purchase funnels,recognising that consumer decision-making is often messy and non-linear.This concept is particularly familiar to QSR brands,as Caleb Pearson of McDonalds pointed out,“QSR is promiscuous”.Understanding what dr
38、ives the most relevant experience for a customer at any given point in their journey and connecting messages and content across various touchpoints in paid and owned media are crucial for brands to drive growth,regardless of their category.QSRThank you!For more insights&reports follow Zenith on LinkedInContact us for Business or Press Inquires