Here's what advertisers and marketers in the Restaurant, Pharmaceutical, Travel, Finance, Automotive and Retail industries need to know for 2023:
Restaurants
"Balancing expectations for hybrid experiences are here to stay. Digital and mobile ordering isn’t going anywhere, but with the world’s full return-to-normalcy in 2022, we can expect to see consumer behaviors continue to the ease of online ordering within-store pick-up and visitation. Restaurants will be expected to provide consistent consumer experiences from in-store to curbside in order to appeal to new consumer preferences.
Competition is fierce as brands fight for consumer loyalty– QSRs will be looking to capture loyalty among key spenders in Gen-Z and Millennial age demographics. Reward-based loyalty programs remain one of the best ways to deepen those customer relationships and create an opportunity to increase order frequency among their most valuable consumer sets, so we can expect to see continued incentive programs to draw in repeat visitors.”
(originally published in Modern Restaurant Management)
Pharma
“In 2023, PLD (Physician LevelData) reporting from digital media partners will become increasingly essential to pharmaceutical organizations. Digital media partners can provide pharmaceutical companies with detailed reporting by NPI (National ProviderIdentifier), down to the impression level. With this level of data, pharmaceutical companies can better evaluate the prescribing behaviors of HCPs. There is increased demand for granular, frequent PLD reporting and pharmaceutical advertisers are ingesting these large data sets to contribute to their omni-channel strategies.”
(originally published in Healthcare IT Today)
Travel
“With the waning impact of COVID on travel decisions, consumers are reportedly more comfortable taking trips again. As a result of the increasing perception of safety, family travel is expected to rebound in the new year – and in a big way. According to Booking.com, 54 percent of millennial families put multi-generational, ‘family-reunion’-type trips at the top of their 2023 travel agendas.
Similarly, 46 percent of respondents in a Family Travel Association survey say they plan to travel with family members beyond parents and in-laws. Whether it's a big extended family trip or a getaway with close loved ones that consumers seek, travel brands will need to find impactful ways to connect with family travelers and stay top-of-mind.”
(originally published in ANA)
Automotive
“The next wave of EV adoption from the Early Majority will occur in areas outside of places such as San Francisco’s Bay Area where Early Adopters and EV enthusiasts tend to flock. This will require a highly coordinated effort from auto brands, dealers, and marketers. One way to execute from a digital video perspective could be to incorporate elements of Tier 1 and Tier 3 messaging within the same creative unit, detailing the features and benefits of EV ownership via brand-focused video messaging, while adding additional content around fulfillment and in-person consultation via local dealer maps and inventory feeds. Incorporating expert content from endemic auto sites is another proven method of gaining credibility, pushing out valuable information that a shopper would otherwise need to gather on their own. Connecting the dots between the “why” of ownership through educational content and the “how” through dealership expertise will help Early Majority shoppers bridge the significant knowledge gap that currently exists.”
(originally published in Automotive World)
Retail
“On necessities like groceries and clothing, consumers will look for more affordable options. Retailers will be mutually incentivized to offer deep discounts to unload excess inventory they’ve been holding onto since the pandemic boom in demand.”
(originally published in Retail Leader)
Finance
“As we dive into 2023, there’s been debate around whether we will observe a 'soft landing', or if inflation will continue to rise, resulting in an economic downturn. The current state of the bond and stock markets illustrates what investors are thinking. On one hand, bond prices may have fallen enough that they fully reflect any future Fed rate hikes, while stocks are down for the year. This suggests that investors are less worried about inflation and more worried about an impending recession. We’re seeing risk factors in the housing market and consumer credit that point to a mild recession in 2023. However, if the employment rate holds, we don’t anticipate a major economic contraction, like what was last experienced during the Great Recession of 2008.”
