20 December 2023 |

5 predictions – Revisited

By Ari Murray

^ THOSE WERE MY

2023 PREDICTIONS:

Last year, on December 21st, 2022 to be specific, I laid down my 2023 predictions – and I shared those predictions via Go-to-Millions (the screenshot of that email from yesteryear is above) 📧.

Let’s check back in on if my crystal ball failed me, or if I’m a witch LOL. 🧙‍♀️

My 2023 Predictions (as of December ’22): 

1️⃣. Increased focus on product personalization. Stoney CloverEmi JayEberjeyGoyardLe Labo. People just really like shit with their name on it. Nail this functionality and you’ve just become EXTREMELY giftable. 

🧙‍♀️✅  – 100% WAS THE YEAR OF PERSONALIZATION. DID YOU SELL, GIFT, OR RECEIVE SOMETHING PERSONALIZED THIS YEAR? I DID ACROSS THE BOARD – AND MY BRANDS THAT INVESTED IN EXECUTING THIS WELL (ENGRAVING, PERSONALIZED COLOR COMBINATIONS, MONOGRAMMING) – THEY WON. 

2️⃣. The brands with flexible returns policies will win. A restocking fee? In this economy? No. 

🧙‍♀️✅  – THIS WAS THE YEAR OF THE FINE PRINT AS CENTER STAGE. TAKE JONES ROAD FOR EXAMPLE – LOOK AT THEIR DESKTOP MEGA-NAV MENU. NOTICE THE RETURNS POLICY RIGHT THERE? FAB FOR CONVERSION! 

3️⃣. Subscriptions will become more and more important. Hook, line, and keep as a retained customer for as long as possible. Subscription x personalized customer journeys with unlocks at each month of the renewal? Now we’re talking. 

🔮🥴 – THIS IS OBVIOUSLY IMPORTANT, BUT I THINK I SHOULD HAVE CLARIFIED THIS LAST YEAR. REALLY, ON PAID, IT IS A HUGE ASK TO FORCE A SUBSCRIPTION ON THE 1ST ORDER FOR A NET-NEW CUSTOMER. IT OF COURSE IS IDEAL IF THEY SUBSCRIBE. BUT, IN ALL OF THE TESTS WE RAN THIS YEAR, WHERE WE DEFAULTED TO ONE-TIME-PURCHASE ON THE LANDING PAGE (WHILE STILL SHOWING SUBSCRIPTION AS AVAILABLE AND AS THE BETTER RATE), WE IMPROVED CONVERSION. I BELIEVE IN SUBSCRIPTION – JUST NOT ALWAYS ON THE 1ST ORDER. BECAUSE I LIKE TO FIGHT CHURN. 

4️⃣. Meta as king. TikTok as supporting player, but Facebook and Instagram ads are very much alive and are going to make the difference in 2023.

🧙‍♀️✅  – META IS KING. 

5️⃣. Omni-channel as the Go-to-Market sweet spot. Goodbye to the DTC Darlings, hello to the brands that can have their cake (strong DTC) and eat it too (IRL x experiential footprints). A new era is upon us. Where we shop in our jammies and in person! 

🧙‍♀️✅  – 100% THIS. MY BIGGEST BET FOR 2024. AND, FOR WHAT IT’S WORTH, I SHOPPED MORE IN PERSON THIS YEAR THAN I EVER HAVE.