Shoppers will be asking themselves what their new basket of essentials looks like every time they shop. Every item in the basket is up for negotiation in some way. Will it be abandoned, substituted, or downsized?
In times of economic stress, particularly at the scale the world is experiencing, it would be easy to adopt a wait-and-see attitude before making big decisions on things such as new product lines, changes to in-store range, and pricing. But this is not the time for big, macro decision-making…or waiting. It’s a time for micro-decisions; lots of them.
2023 will be all about looking for early indicators to guide more confident decision-making for retailers and brands. To help that process, we’ve identified five key areas to guide growth plans for the year ahead. The underlying thread is the need to be bolder and nimbler whilst not depending entirely on behaviours of the past as a guide to the future.