The Mars Agency UK examines what brands and retailers around the globe can do to keep discerning shoppers loyal in the new year.
In today’s retail landscape, brands and retailers are constantly looking for innovative strategies to stay ahead of the curve and capture the attention of increasingly discerning shoppers.
As technology advances and consumer preferences evolve, The Mars Agency has identified several evolving trends that we believe are poised to reshape the nature of shopping in the coming year.
Using our proprietary Shopper Journey research – which surveyed over 14,000 shoppers from around the globe across 34 categories – The Mars Agency has identified five shopper trends that should be guiding your brand strategy in 2024.
Strategic brand partnerships are gaining momentum as a powerful tool for improving brand perception and driving sales. By collaborating with complementary brands, marketers can tap into new target audiences, gain access to broader distribution channels, and strengthen their brand credibility.
The use of artificial intelligence (AI) is rapidly transforming the retail industry. AI tools offer a multitude of benefits for enhancing the shopping experience and streamlining conversion through personalisation. At the same time, they’re helping retailers reduced costs and collect valuable shopper insights.
In an increasingly value-conscious market, loyalty programs are another tool that have become crucial for attracting and retaining customers. Brands are investing heavily in enhancing their loyalty schemes by making them more targeted, personalised, and engaging.
Augmented reality (AR) is another technology that is revolutionising the industry. AR tools are increasingly being utilised to create immersive and interactive shopping experiences that will entice consumers and ultimately get them to buy. Virtual try-on tools, as one example, allow customers to visualise products on themselves, bringing some of the in-store shopper experience into their homes or anywhere else.
Finally, the live shopping trend that originated in China is now gaining traction worldwide, offering a unique, engaging way for brands to connect with consumers and directly drive sales by showcasing products through hosted demonstrations and real-time interactions that create a sense of community.
By embracing these five trends, brands and retailers can adapt to evolving consumer preferences through new tools and technologies, thereby securing a competitive edge in 2024.
Our complete report takes a deeper dive into the five trends.
Download the report!
About The Mars Agency
The Mars Agency is an award-winning, independently owned, global commerce marketing practice. With talent around the world, they connect people, technology and intelligence to make clients’ business better today than it was yesterday. Mars’ industry-leading MarTech platform, Marilyn, helps marketers understand the total business impact of their commerce marketing, enabling them to make better decisions, create connected experiences and drive stronger results.