23 Mar 2023 Insights
Industry Insights 2023
2023 Industry Insights
2022 brought us a wealth of insight into industry marketing tactics and what worked well. We have compiled data documents to cover a wealth of industries, with each one including the current state of the industry as well as insights for the coming months to help you plan your next campaign.
In a tough economic climate, consumers are focusing on what value means to them and spending will become more intentional in 2023. Consumers will buy less and will spend more on products and services which serve multiple purposes, with innovative, purpose-driven brands expected to succeed when addressing challenges faced by their customers. Read More
Consumers are prioritising where they spend their hard-earned money, with sustainability becoming an increasingly important factor. Despite financial fears, many consumers are willing to spend more on sustainable brands and within ecommerce this can range from sustainably produced products through to eco-friendly packaging, sustainable deliveries, and the ability to recycle items easily. Read More
The global second-hand fashion market is expected to grow by 127%
by 2026, this is three times faster than the new fashion sector. With consumers looking to reduce spend and their environmental impact, many are turning to buying and selling fashion items on resale platforms. Read More
“Due to the current economic climate, ‘going green’ may be on hold for some families as they weather the storm of inflation. Sustainability remains an important shopping criterion for many, but only 41% of consumers are currently willing to pay more for a product they believe to be sustainable, compared to 57% in 2020.” Read More
A recent survey by Cibyl found that 81% of students have been affected by mental health difficulties, a figure which has risen since the start of the pandemic. The findings also show that 63% of students prioritised choosing an education establishment which prioritised mental health provision. Read More
With inflationary pressures impacting the budgets of many consumers, many will be looking for flexible and alternative payment options. With cash flow in restricted for many consumers, payment options such as credit cards and buy
now, pay later schemes will become popular. Read More
Following travel restrictions during the Covid-19 pandemic, many turned to UK destinations and the trend towards staycations will continue. In particular, the short-term rental market which offers affordable, independent options such as Airbnb stays is expected to continue to grow in 2023. Read More
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