A year defined by a uniquely volatile environment for brick-and-mortar retail, 2022 began with the effects of Omicron raging, only to be replaced by a combination of economic headwinds that limited visits and affected revenue.
Reflecting on the busiest shopping season of the year, Chernofsky shared Placer.ai’s holiday data, which compared weekly visits to overall retail nationwide from 2019 to 2022. Over the four years, he said, it’s important to think about the early shopping phenomenon as a starting point and how it has changed. In 2021, consumers received rather aggressive communication reflecting worries about the supply chain, labor shortages and shipping delays.
“The idea that now there is this prelude that takes place in October is really significant,” Chernofsky said. “And I think what’s interesting is what we will see next year from a creativity [standpoint]. The first year it happens out of necessity, and it shows us that there’s still demand. Now in 2023 and beyond, it’s going to be about who can take advantage.”
Also to consider is the element of omnichannel where consumers were able to supplement all in-person shopping with online orders. Many shoppers are enjoying emerging discovery triggers on shoppable videos on TikTok while others are drawn to the “bells and whistles” within the store. Retail media networks to provide opportunities to impact the sales process when a consumer enters a location. Ultimately, “there’s nothing that should be off the table.
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