Madison Marquette report highlights five retail predictions for 2023
Madison Marquette recently published State of Retail, Q1 2023, which highlights five retail predictions for 2023, as well as an overview of retail's transformation, shifting consumer behaviors and category trends. The content is from a formal presentation given by Meghann Martindale, head of retail research at Madison Marquette.
According to the report, retail proved resilience through the pandemic and will continue to evolve in the post-pandemic era with ongoing digital transformation, hybridization and the ability to turn further disruption into opportunity in the face of economic uncertainty. The five predictions for retail are:Financial positions create divergent consumer spending behaviors. Physical stores serve as digital billboards in the hybridization of retail. Retailers focus on the path to profitability to secure stability and future growth. Digital transformation shifts focus from customer-centric to operational ef