Retail Marketing Effectiveness 2023 report
16 Nov 2023
While the overall cross-sector picture of marketing effectiveness has remained muted in the past year, retail marketers have bucked the trend by recording a six-year high — but just how did they do it?
Our Retail Marketing Effectiveness 2023 report, in partnership with Sagacity, set out to discover the reasons behind the retail sector having one of the most successful years in marketing effectiveness in the last half decade.
The report, now available for download, reveals a balanced approach to campaign strategy sat at the heart of this, with retailers driving short-term response through promotions and discounts, while keeping one eye on the long-term by investing in brand-building activity.
In addition, a focus on online growth and customer retention, plus the success of DIY retailers, are factors contributing to retail’s enhanced performance.
There has been growth across the board in terms of brand (where the number of effects has more than doubled year on year), response (61% growth in effects), and business effects (67% growth).
Speaking ahead of the DMA and Sagacity’s report launch event, Ian Gibbs, Director of Insight at the DMA, revealed that while the cost-of-living crisis has led to undeniably tough trading conditions, retailers have got the balance right in terms of campaign strategy.
“There is an even split between acquisition and retention activity and the most even balance between brand and response activity seen in the last six-years, with a third of campaigns having some sort of brand goal.”
There was a special mention about the confluence of data, creativity, and technology helping to maximise retail marketing effectiveness.
Learn more in the complimentary full report, available to download for DMA Members via the link below.