Marketing Trends

That Are Here to Stay

It would be an understatement to say that recent years have brought about unprecedented change as companies and organizations found new ways of doing business.

Trying to predict what lies ahead may be foolhardy, but when it comes to marketing, here are three trends that are likely here to stay.

E-Commerce is no longer optional

According to Statistics Canada, retail e-commerce sales nearly doubled from February to May 2020, even as total retail sales in Canada fell by almost 18 percent. In 2021, retail e-commerce sales amounted to approximately 4.9 trillion U.S. dollars worldwide. This figure is forecast to grow by 50 percent over the next four years, reaching about 7.4 trillion dollars by 2025.*

“Companies that already had a strong e-commerce strategy are doing incredibly well compared to those that lagged behind,” says Craig Flinn, who teaches the Emerging Trends in Marketing course at Western Continuing Studies.

Nearly 85 percent of Canadian consumers now buy online, and many people will continue to shop from home post-pandemic. “We will reopen the stores, but I don’t know if we’re ever going back to normal,” says Flinn. Instead, he foresees a hybrid model where traditional brick-and-mortar retail and e-commerce work hand-in-hand to give consumers more choice and a better buying experience.

Social Media as a point of sale

As little as two years ago, social media was seen as a place where brands could interact and build trust with their target audience before consumers ventured into a store or online to make their purchase.

Today, social media posts increasingly act as a virtual storefront.

“It turns out that people are willing to be sold to on social media, as long as they are excited about the product. And they don’t want to be taken off the platform,” Flinn says.

That shift presents both an opportunity and a challenge for marketers. “Creating a seamless process where people can buy a product in a couple of clicks is exciting from a brand’s point of view,” says Flinn.

The challenge, notes WCS Marketing Research and Analytics instructor Tanya Wickett, lies in establishing brand trust in an increasingly-crowded and segmented playing field.

“If we want our brand to shine, we have to place it in the right venue,” she explains. “It used to be Facebook. Then it was Instagram and Snapchat. Now it’s TikTok and who knows what the next thing is going to be? It’s really important for marketers to be aware of their social media, and to use consistent messaging across all platforms.”

More data for a more personalized experience

There is no doubt that Artificial Intelligence (AI) and Big Data will continue to play an important role in understanding what makes consumers tick.

“Once you have the data, your work begins,” says Wickett. “Market segments are being redefined every day, including more and more diversity. I like to hone in on psychographic traits: How do people spend their time? How do they spend their money? That has really changed.”

At the end of the day, effective marketing still boils down to building relationships. “Data is a tool that we can use to create a more personalized experience, but we shouldn’t use technology for technology’s sake,” Flinn cautions. “We should never forget about the human aspect, and that marketing is about figuring out how to solve problems for people.”