As we wrap up 2022 and start planning for 2023, we asked our clients “what would you make happen if could wave a magic wand?” With our retailers and brands under so much pressure and uncertainty, keeping the business going and not losing all the pandemic online profits are top of mind for many. Interestingly, answers varied significantly from “make all my unplanned sitting inventory disappear” to “have a full team so we’re not stretched so thin” to as tactical as “don’t let our current systems implementation end up in an expensive divorce”.
Here’s a summary of the answers we heard.
Not surprising that 40% stated their financial situation was top of mind, especially as we’re expecting to see deep discounts in order to move inventory during another uncertain holiday season. Interesting to see 17% stated their organization and team structure was top of mind – with hiring freezes and cost-cutting measures in place, staffing is expected to feel an impact. Our Digital Strategy consultants have been placed into organizations for interim staffing roles to help retailers and brands during this difficult time. We were happy to see 12% state Customer Centricity (focus on the customer) as their priority going into 2023 (although this number should be higher!).
Need help with making these wish list items happen in 2023? Our former retail practitioners are here to help you and your team, whether that is reviewing and poking holes at your budget, recalibrating your marketing spend, adding extra resources during peak, building your customer data strategy, you name it. Get in touch with us.
Kana Fukushima is the Senior Director of Marketing in OSF Digital’s Strategy group. She leads the annual Omnichannel Retail Index benchmarking study. She manages the data, analyzes the findings, and creates the report. As a consultant, she performs benchmarking, site assessment, and usability studies for retailers and brands.