What are the Marketing and consumer trends who will shape 2023? This article examines two different perspectives: the exogenous perspective that focuses on changes in consumer habits, while the endogenous perspective covers the technological evolution of marketing managers’ tools and workflow. However, in addition to being exogenous or endogenous factors, all of these factors share technological influences, with artificial intelligence in particular being their driving force.
In these times of heightened uncertainty and unfavorable macroeconomic outlook, companies tend to reduce their investments in marketing and communication (despite data that shows that the chances of success – in terms of growth – are higher when companies continue to bet on the market). Likewise, we are witnessing an increase in the use of artificial intelligence, with the emergence of generative models and, more specifically, ChatGPT, which has become the fastest growing technology, reaching 1 million users in 5 days, surpassing the 2.5 months it took Instagram to reach this milestone. This is why we believe that in this context it is particularly important to analyze how the intersections between the exponential development of these technologies and their popularization as well as the tensions between consumers and brands determine where to focus our attention to continue adding value, both for companies and consumers.
On the one hand, these trends represent technological innovations and measure and analyze data with topics such as generative AI, CX orchestration (zero party data, personalization and implementation of Journeys), attribution models and data analysis at each stage of the strategy. On the other hand, there are trends closely linked to changes in consumer habits, such as expense management and the use of monetized content. At the same time, we wanted to explore buzzwords like the metaverse, super apps, behavioral economics and decentralized commerce, to understand where we are today and the impact they can have on our companies, our customers and our daily work.
We started with 23 trends, which were then selected by a multidisciplinary team of 10 senior experts from LLYC’s Consumer Engagement and Deep Digital Business domains, who selected the 10 most relevant trends based on these 4 criteria. This included: impact on the business, impact on the CMO role, difference, and novelty as a trend.
