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Most marketers believe that leaders don’t understand the impact marketing has on growth
Less than a quarter (23%) of marketing professionals strongly believe that senior executives recognize the impact customer marketing has on business growth.
Senior marketers report that proving the value of marketing to stay on budget is their biggest source of stress. Senior executives’ lack of belief in marketing’s ability to drive growth appears to be fueling a vicious cycle, with nearly seven in 10 (68%) saying insufficient resources or funding are limiting marketing’s ability to drive growth. It is reported that.
A lack of resources means that more than a third (36%) of marketers admit that achieving a “true customer-first approach” is still more than four years away. means. More than two-fifths (44%) believe their company’s approach to personalization is unsophisticated.
The majority (81%) of senior marketers working for UK-based brands say they don’t have easy access to the customer data they need to personalize and target campaigns.
Source: Plink
The number of retail customers decreased in December.
Retail foot traffic fell 5% last month compared to December 2022 levels as shoppers opted to spend their time shopping online due to the rainy weather.
The number of shoppers is also significantly lower than last month. The number of visitors in November 2023 decreased by 0.9% compared to the previous year.
Wet weather has been cited as a deterrent to shoppers, with shopping center footfall seeing the sharpest drop last month, falling 7.4%. High street stores and retail parks saw lower but still significant declines of 4.2% and 4.8% respectively.
“Due to the heavy rains in December, many shoppers were hesitant to brave the elements and instead chose to browse online before making their final purchase or shop entirely online.” Helen Dickinson, chief executive of the British Retail Consortium, said: “This has resulted in a significant drop in foot traffic compared to December 2022, when there was significant pent-up demand for in-store shopping following COVID-19 restrictions.”
Although overall shopper footfall was somewhat disappointing, discount events increased footfall. On Boxing Day, footfall increased by 39.2% compared to the previous week.
Source: British Retail Consortium – Sensormatic IQ
AI is the ‘most important’ consumer trend for more than half of brands and agencies
More than half (57%) of leading brands, agencies and media providers cite generative AI as the most important consumer trend for next year, according to Mediaocean research.
The landscape in which brands, agencies, and media owners believe generative AI is most useful has changed in recent months. As of April 2023, copywriting (59%) was the most popular area that survey respondents believe could benefit from AI. However, in his latest November survey, marketers now believe that data analytics (39%) and market research (35%) will be the most fruitful areas for leveraging AI.
Generative AI has also replaced the metaverse as the most important consumer trend for many marketers. As of October 2022, more than a third (34%) believed the Metaverse would be the most important consumer trend in the year ahead; It was only 16%.
Source: Media Ocean
Financial security was a top priority for UK consumers in the lead up to Christmas.
In the run-up to Christmas, almost two-thirds (64%) of consumers reported prioritizing managing their finances over the Christmas season. That focus appears to be paying off, with 14% more consumers reporting being able to rely on disposable income left over after purchasing essentials to fund their Christmas needs this year, rather than relying on overdrafts or credit cards. did.
In 2022, one in four UK consumers (25%) will report using a credit card to finance their Christmas, with 12% using buy now, pay later options such as Klarna and Clearpay. (BNPL) scheme. The use of credit cards and her BNPL scheme decreased by 13%. Overdraft usage also fell by 50% compared to 2022 levels.
Nearly a third (28%) of consumers believe they will be able to pay off their Christmas debt this year by February, compared to last year when many consumers still expected to be able to pay it off by Easter time. I was facing it.
Source: Lowell
UK shoppers spent more than £24bn online over the Christmas period
UK shoppers will spend £24.4bn online during the holidays, bringing total online spending to £111.2bn in 2023.
Total spending during the Christmas period increased by 3.7% compared to the 2022 Christmas season. Online spending for the whole of 2023 was down 1.3% compared to 2022 levels, when shoppers spent their £112.7bn online.
Discount days were the biggest online spending days for consumers both during the Christmas season and throughout 2023. Black Friday was the biggest online shopping day of the year, with shoppers spending £1.04bn, an increase of 4.1% on the previous year.
Cyber Monday sales in 2023 increased by 7.4% compared to the same day last year to £881m. Online sales on Boxing Day also increased, with spending totaling £461.8m, an increase of 4.4% compared to 2022.
On average, online prices during the November and December holidays were discounted in the range of 11% compared to pre-holiday levels, with Cyber Monday the most significant discount.
Source: Adobe Digital Insights
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