As calendars page over to 2023, macroeconomic and consumer-based factors are producing new retail and CPG trends. Fetch, with more than 17 million monthly active users and 11 million daily scanned receipts, is uniquely positioned to analyze this movement. As one of the leading platforms in the zero-party data space and a close pulse on omnichannel shopping behavior, Fetch can support brand partners through these uncertain times.
Fetch’s Chief Customer Officer David Sommer sat down with us to share his top five CPG and Retail trends for 2023. Prior to joining Fetch, Sommer spent 11 years at Facebook (now Meta), where he drove explosive growth from $3.15 billion to well over $100 billion in revenue as the Head of Industry, CPG, Retail Partnerships and Shopper Marketing. With this impressive background and nearly two decades in CPG and retail, David Sommer shares his expert point of view on the year to come.
Trend 1: In-Store Tech Transformations
Retail tech will need to upgrade in 2023, but it will be a daunting task. “It’s hard to nail keeping products in stock, staffing, and basic things like price reduction,” Sommer explains. A lot of consumer CPG purchasing happens at brick-and-mortar locations, so those retailers will need to transform their on-site tech to keep up with ever-changing market variables.
This trend points to the importance of the Fetch platform. Fetch has the receipts – more than 1 billion of them – that are key to changing and driving purchasing behavior in retail spaces. “We have built that bridge between the physical world, brick and mortar and the online world,” says Sommer. According to Sommer: “You can’t get more high-tech than that.”
Trend 2: Selective Promotional Investment
In 2023, brands will see continued supply constraints. With a smaller product inventory and reduced retail allocations, CPG companies will be hesitant to give deep promotions on existing supply. This is where consumer rewards programs become instrumental.
By looking at purchasing behavior and analyzing verified incremental returns, Fetch brand partners can determine how much of an investment they want to make in hyper-specific audience segments. “Fetch provides personalized promotions and personalized pricing at scale,” says Sommer. “We’re very well-positioned to fit into this new world.”
Trend 3: The Future of a Cookieless World
Achieving accurate attribution amidst new consumer privacy laws will be a difficult task for brands in 2023. Sommer notes that legislation passed in 2022 damaged the ability for many media properties – Tiktok, Meta and Snapchat – to report accurate attribution data to their ad partners. This signals a shift into a reliance on first- and zero-party data, fashioning Fetch into an invaluable asset in a marketer’s toolkit.
“We have all the zero-party data, so we can make that attribution connection,” says Sommer. “The user has opted in to provide their data so they can get points from the brands that they love the most.” Having access to billions of verified purchasing data points not only replaces but exceeds cookie capabilities.
Trend 4: A Shift to Prudent Marketing Spend
With reduced inventory and smaller budgets, companies are going to tighten marketing spend. As a result, Sommer expects brands to look for ways to protect marketing investments. Verified Incremental, Fetch’s measurement methodology, will help companies ensure that marketing dollars have their intended effect.
“We are the first omnichannel measurement technology, but we’re more about driving business outcomes,” says Sommer. “We use receipt data for targeting, measurement, understanding lifetime value and to algorithmically serve the right offers to the right people.” Verified incremental is the most accurate and efficient measurement methodology available, and Sommer says it is indispensable for companies with restrained marketing budgets
Trend 5: Driving Product Discoverability
In an increasingly crowded physical retail space, brands need to create new ways of driving product discoverability. Connecting with an audience on a smartphone is more important than ever. However, smartphones are becoming more difficult for marketers to leverage. Digital retail platforms compete for user attention against more recreational apps, like Tiktok and Instagram. This, according to Sommer, is where the Fetch platform shines.
“Our big story to the consumer is Have fun, save money,” Sommer says. Fetch users have more reasons to use the app and shop partner brands, including new offers and content added daily. There are exciting in-app celebrations, a Daily Reward that drives habitual app use and leaderboards to compete with friends. It is a legitimately fun way to save money. “With Fetch, the brand offered is the content, and the ability to measure it is incredibly compelling for users and brand partners alike.”
From protecting marketing investments to providing accurate and real-time attribution, the Fetch platform is a massive advantage for brands in 2023 and beyond. Fetch is uniquely positioned to support partners through a demanding but rewarding calendar year.
Do you want to build stronger relationships with your consumers in 2023? Reach out to the Fetch for Business team today to learn more about becoming a brand partner.
You must be logged in to post a comment.