Marketing in Today’s Economy: 4 Consumer Trends to Watch
Dec. 12, 2023 | By Lauren Dillard - LiveRamp
To start, it seems initial Black Friday forecasts underestimated consumer demand.
Online sales alone were record-breaking, with an increase of more than 7% from last year, and in-store traffic is estimated to have gone up anywhere from 2% to 5%, according to Forbes.
So, what drove this spike in sales? I believe it was marketers—reaching the right shoppers at the right time through targeted campaigns, driven by data collaboration. When companies combine the power of rich first-party data and third-party data from partners, they are able to create a full, complete picture of their customers. These insights lead to better personalization and customer engagement that would not be possible any other way.