What marketing trends will dominate in 2023? The development of artificial intelligence, and with it the emergence of new opportunities such as deep consumer data analysis, and of course, new challenges. The trend towards sustainable consumption, and with it waste reduction. Data security, omnichannel, metaverse, and Next-gen shoppers. What does it all mean and what else can we expect in the marketing sphere in 2023? We explored this together with the experts of the Ukrainian Catholic University Business School, read on.
Volodymyr Melnyk, Professor of Marketing at Carlos III University in Madrid and ESCP Business School, a member of the academic council of the MSc in Marketing Management program:
If it weren’t for the war, last year could have been declared the year of Artificial Intelligence. With the emergence of the ChatGPT artificial dialogue service, we can talk about a new level of AI, which opens up new opportunities (for data analysis and interactivity with consumers) as well as challenges (primarily in the intellectual sphere). I think this will be the main trend, the development of which we will see in new solutions in various fields.
The trend towards sustainable consumption will continue and intensify. An interesting aspect of this trend is the shift from “fast fashion” to “slow fashion,” which is part of the slow movement philosophy – a philosophy of slowing down the pace of life. One such manifestation is the idea of clothing rental. Another aspect of sustainable consumption is waste reduction, with the growing popularity of “Naked packaging” without any unnecessary labels, bags, and the like. The aggression of the Russian Federation also catalyzes Europe’s attention to decisions in the energy sector: green energy and, above all, energy-saving technologies with appropriate solutions and various startups in this field. We are already seeing the same in Ukraine.
In addition, Ukraine has become a symbol of freedom, resistance to medieval aggression of russia, and a symbol of hope in the world. Therefore, it is not surprising that there is a sincere interest in everything Ukrainian in the world, from the study of cultures to the study of languages…
What will prevail in the Ukrainian market and what in the international market? I think that in addition to the mentioned trends and decisions in the field of artificial intelligence, we will see the emergence of solutions in the field of security on the international market. In addition, the intensification of ingredient branding will help companies and countries identify “loopholes” in bypassing sanctions imposed on Russia.
It is quite obvious that the situation and interests in the Ukrainian market will depend on the course of the war. In any case, interest in solutions in the energy sector will only increase. The market will also grow in the field of coworking services and related solutions. Perhaps we will see the development of domestic tourism, at least I would like to believe that we will get the necessary conditions for this in the near future.
Yuriy Obach, product manager at IT company Genesis, member of the academic council of the Master’s program in Marketing Management and its graduate:
I think that the main trend in the field of marketing will be Artificial Intelligence, both abroad and in Ukraine. This will have the biggest impact on the speed of content creation and, as a result, accelerated communication testing.
Another important tool that will prevail in 2023 is Data Security. This has been a trend for the past three years. This is best seen in the changes related to Apple’s policies, the ability to not share personal data when installing apps, and so on. As a result, this is increasing the market for advertising buyers on Meta, which has a significant impact on traffic price increases.
Igor Blystiv, director of the MSc in Marketing Management program, member of the academic council and lecturer in the program. Marketing Director and Director of Innovation at Kormotech company.
This is not a simple question, because if we look at the essence of marketing, we will see the customer and all of marketing, as well as the entire business of the company, is aimed at creating and delivering value to the customer. This is the main focus and it doesn’t change. Despite the emergence of new trends, technologies, and tools, the consumer and their value will remain the cornerstones of the business.
Regarding the tools or technologies that have now flooded the space and can influence marketers, it is ChatGPT, and yes, it and its successors/twins can significantly change the online advertising market. Perhaps the further development of AI will affect the formation of new professionals who did not exist before. Certainly, we will continue to hear and read about new and new versions of developments based on artificial intelligence, but it is desirable that marketers “do not lose their heads” from the tools and do not lose the consumer because of them. Often, it happens that the tool literally begins to “possess” marketers, and they completely forget about their customers.
Here are a few more consumer trends from Igor Blystiv that will undoubtedly affect marketing tools:
Omnichannel. Brands care about how to provide the consumer with 360 degrees of care for the customer. It’s not just about selling a product, but about becoming useful and necessary in all possible situations. In other words, brands will fight to occupy an increasingly larger territory in our consciousness and subconsciousness. Byron Sharp in his book “How Brands Grow” calls this mental availability, in fact, brands are fighting for mental availability, so omnichannel will become an increasingly important point in brand strategies.
Personalization. Thanks to algorithms and the development of AI, brands are increasingly “guessing” which product is perfect for you. Companies invest money in creating unique personalized content + unique personalized experience, as a result of a unique personalized product. I think an exciting world of personalization is ahead of us.
Metauniverse and Next-gen shoppers. In the world, there are increasingly more Next-gen shoppers. These are people who live with their phone. They are buyers who will be more critical and more creative, and their expectations of brands will be identical. They are interested in longevity and have a different way of purchasing products. Researchers predict that by 2026, 25% of people will spend at least 1 hour per day in the Metaverse, where they will shop, learn, work, exercise, take yoga lessons, engage in self-development, and ultimately entertain themselves. Therefore, those who can create value for the customer will be able to capture their attention and acquire them in this way.
The sustainability trend. Due to war and a lower level of market development, Ukraine hardly talks about this, but in Europe, this is a super powerful trend. Especially after the pandemic, people begin to think about how to reduce their impact on the environment, hence smaller packaging, alternative protein sources, recyclable packaging, alternative energy sources, and a reduced carbon footprint. All these are important aspects for European consumers and brand marketers working in these markets, which need to be considered in brand development.
Already now, or emotional marketing. This is a very interesting trend that requires businesses to adjust their processes. Consumers increasingly want to live in the moment. They strive to get everything they need at this moment here and now. Money seems to lose importance, and emotional experiences from a purchase come to the fore. Therefore, companies are looking for ways to evoke positive emotions in the customer, to make them happier, and to increase their connection with the brand. Algorithms, already collected customer data, and an understanding of their preferences will help brands create new special emotional events and thus increase the connection between the brand and the customer.
Mobile apps. On the one hand, consumers are tired of hundreds of new applications every day; on the other hand, they are looking for functionality and efficiency. With each passing year, users will easily abandon apps that do not bring them real value or simplify their lives, and mobile apps that meet the demands of Next-gen shoppers will remain in demand.
We’re going back to basics. There’s a consumer who is seeking value on their path to happiness. If your product helps them with that, they choose you. If not, they pass you by in search of someone who can do the job better. In summary, trends and tools are interesting, but don’t lose sight of the consumer. Best of luck!
These are the thoughts of our experts with diverse marketing experience in different fields: Volodymyr Melnyk, Yuriy Obach, and Igor Blystiv. Use them to your heart’s content!
MSc in Marketing Management at the Business School of UCU is a program designed for people with beginner-level experience in marketing and PR who are interested in systematic learning and practical experience, thorough knowledge gained from the best industry experts, career growth, and the strengthening of all necessary skills and competencies to become a true marketing professional. Registration is available on the website.
