What:  A survey identified the top retail trends for business to explore this year. The who, what, where, and why behind our shopping experience is going through a metamorphosis.

Why it is important: The retail industry is reshaping the shopping experience in 2023, redefining how we shop and sell, as well as where we shop and what we buy.

1. Retailers are expanding where they sell

Retailers are expanding the number of digital channels they sell on in the next 12 months as social media continues to evolve. There is a growing number of ways to reach and connect with customers and retailers are looking for a central way to do so. It’s not enough to be present in just one place, brands need to be seen and heard beyond a physical store and online presence

1. Retailers are planning for economic uncertainty

44% of retailers in the survey noted raising prices as their top choice in taking steps to prepare for an economic turndown. Additionally, 88% of consumers said that they’d understand if their favorite local retailer raised its prices.

1. Automation can enhance customer experience

Retail customers are a fan of automation and in most cases tend to prefer it. Automation creates room for your customers to experience things their way at their own pace.

1. Customers want to engage with brands

86% of customers want to hear from businesses they frequent and email ranked the highest as customers preferred option.

1. Social and mobile commerce are two of the biggest digital trends in the retail industry- and they’re booming

The new omnichannel landscape of selling on social media is thrilling with 91% of retailers surveyed now selling on social media. Retailers have seen success with 79% of consumers making purchases directly from mobile devices.

The top retail trends for 2023