A blend of tech and authenticity

In 2024, marketers are poised to navigate a landscape marked by the merging of innovative technology and enhanced consumer experiences.

This report presents seven pivotal predictions, backed by survey results, from the improvement of vendor partnerships to artificial intelligence (AI) demand for deeper connections. It highlights a future where personalized value and authenticity carry the utmost significance.

As brands agilely adapt to emerging trends, the challenge is balancing the hype with meaningful engagement. They must ensure it leads to opportunities — rather than oversights — in a rapidly evolving marketplace.

man in kayak

Charting the course

Seven insights shaping the marketing landscape

  1. Streamlined vendors and value-driven strategies define success
  2. Back to basics: Embracing fundamental consumer trends
  3. Balancing genuine engagement with efficient productivity
  4. The rise of contextual commerce
  5. Immersive retail experiences in the spotlight
  6. The value-exchange creativity challenge
  7. The hype machine goes into overdrive

Report Vitals

What we did: Selected and surveyed over 2,300 respondents through the RRD Awareness-to-Action Study and the RRD Industry Survey.

When we did it: The RRD Awareness-to-Action Study was conducted in August 2023, and the RRD Industry Survey was conducted in September 2023.

Why we did it: To understand emerging trends in consumer behavior and their impact on various market sectors, providing insights and strategies for success.

Insight 1

Streamlined vendors and value-driven
strategies define success

Next year, marketers are expected to streamline vendor relationships, focusing on comprehensive solutions within tighter budgets. This strategic shift is driven by the need to tackle complex marketing challenges without the luxury of increased spending.

Insight 1

Strategic vendor consolidation: Insights from the RRD Industry Survey

Nearly one-third of marketers are currently navigating the challenges of reducing martech costs while seeking specialized solutions for complex issues, as highlighted in the RRD Industry Survey conducted in September 2023.

Vendor collaboration challenges

44%

High system maintenance costs

35%

Integration complexities

35%

Slower market adaptability

33%

Demand for integrated solutions

33%

Stringent privacy standards

32%

Workflow complications

31%

Omnichannel solution needs

abstract technological mapping software

Source: RRD Industry Survey, September 2023 (n = 536), Grocery Drug Mass (n = 103), Retail (n = 102), CPG (n = 126), Restaurant (n = 103), Financial (n = 102)

Insight 1

CMOs under pressure: Insights from the Gartner survey

This Gartner survey highlights that 75% of CMOs must reduce their technology spend. Their tactics align with our prediction, emphasizing a pivot toward operational efficiency and smart martech investments. Additional survey feedback suggests these trends are part of a larger shift in marketing resource allocation.

CMO cost-cutting measures

62%

Scaling back on continuous improvements

58%

Decreased integration on services for martech

32%

Cutting back on new martech acquisitions

17%

Trimming on managed services investments

Source: 2023 Gartner CMO Spend and Strategy Survey

Insight 1

Vendor efficiency survey results:
Depth over breadth

Preference for fewer, specialized vendors is overwhelming: 82% of advertisers favor expertise and focused collaboration for implementing marketing strategies.

The data speaks volumes. It points to a growing trend among advertisers to streamline operations and seek more thoughtful partnerships with specialized vendors for better outcomes.

82%

of advertisers
prioritize
specialized
expertise

Insight 1

Practical application

With today’s fast-changing market landscape and budget constraints, marketers are seeking more than just tools. They need reliable partners who can guide them toward success. RRD stands out as that vital partner, offering comprehensive solutions that extend beyond technology. Our NXTDRIVE™ platform is not simply about providing an all-in-one customer data marketing tool that simplifies challenges — such as managing diverse data sources, optimizing marketing campaigns, enhancing data expertise, improving visibility, and reducing costs. It’s about embarking on a journey with our clients, navigating the complexities of the marketplace together.

NXTDRIVE

Insight 2

Back to basics: Embracing fundamental
consumer trends

Marketers who master the essentials — offering competitive prices, high-quality products and services, and impactful promotions — will likely see their brands flourish. As consumers increasingly seek alignment between their purchases and personal values, understanding and leveraging the nuanced interaction between cost savings and brand ethics will become essential.

Insight 2

Market dynamics: Value vs. values

Discrepancies in value perception

man pointing at graph on glass

Coupons and discounts

Marketers: Underrated

Consumers: Top priority, especially for baby boomers, after price and quality

Value alignment marketers

Marketers: 26% emphasize

Consumers: Value at 17%

Cultural resonance marketers

Marketers: 24% prioritize

Consumers: 10% overall; 15% for Gen Z indicate importance

Content sensitivity

Marketers: 24% prioritize

Consumers: Only 12% consider crucial

Insight 2

Banking on fundamentals: Customer priorities in 2024

Banks that address core customer needs will secure loyalty and business.

Diverse product offerings

30%

A comprehensive suite of financial solutions is key

Omnichannel support

30%

Customers expect seamless service, both online and in-person

Data security

27%

Trust hinges on robust data protection measures

Genuine engagement

27%

Authentic, culturally aware communication deepens customer relationships

Technology advancement

25%

The rise in digital banking demands adaptation

Insight 2

Capitalize on savings trends

Align your strategies with consumer savings aspirations by focusing on tailored discounts and coupons.

Financial priorities of consumers in 2024

Boosting savings: 39%
Cost-cutting: 39%
Debt reduction: 32%
Budgeting: 22%
Retirement savings: 22%
Financial growth via career or education: 20%
Investment growth: 17%
Significant purchases (e.g., property, vacations, etc.): 15%

Insight 2

Strategic coupon use

66% of marketers who use coupons plan to continue utilizing coupons to nurture customer loyalty, endorse products, and gauge marketing success. Embrace coupons to elevate sales, social engagement, and market competitiveness, and refine your marketing tactics.

Leading coupon tactics for optimizing business growth

35%

New product introduction

34%

Marketing effectiveness measurement

33%

Market competition

33%

Sales volume growth

33%

New customer onboarding

31%

Social media engagement

32%

Customer
loyalty/retention
engagement

Insight 2

Practical application

In 2024, aligning marketing strategies with consumer expectations regarding value, cultural relevance, and savings will be critical for business growth and customer loyalty. Effective marketing solutions — whether print or digital — are designed to inspire action, delivering offers directly to peoples’ mailboxes and seamlessly guiding them from online ads to taking meaningful actions.

Insight 3

Balancing genuine engagement with efficient
productivity

By next year, marketers are predicted to be at a pivotal crossroads, tackling the paradox between maintaining authenticity and increasing productivity. The integration of artificial intelligence (AI) and machine learning (ML) into marketing strategies is expected to be a key factor in this equation, evolving into a practical necessity for marketers.

Insight 3

Navigating authenticity with technology

Leading tools for authentic connections with consumers

31%

Loyalty programs

30%

Personalized offers

29%

Customer data platforms

28%

Paid social media

27%

Influencer marketing, acknowledging their role in fostering authentic relationships

man at table on cell phone

Customer
reviews

32%

Insight 3

The role of AI in marketing: Hype or help?

The industry expresses mixed feelings about AI/ML, with 84% acknowledging that “AI can boost productivity, but companies still rely on human interactions to establish authentic connections with consumers.”

Adoption of AI/ML in marketing: A range of engagement

experienced computer programmer

40%

View AI/ML as more hype than a real solution

33%

Show interest but lack a starting point

15%

Are beginning to integrate AI/ML in their strategies

12%

Are actively using AI/ML to meet marketing objectives

Insight 3

AI ambitions: Brands seek clarity on harnessing AI for data strategy

Understanding the integration of AI in managing first-party customer data reveals a spectrum of marketer readiness and challenges.

The current state of adoption

Considering AI tools but haven’t implemented them yet: 40%
Feel AI solutions are out of reach for the size of their business: 28%
Cite a lack of sufficient data to warrant AI investment: 28%
Unsure how to leverage AI effectively: 20%
Lack the budget for AI solutions: 16%
Find AI tools not applicable to their needs: 7%

Insight 3

Practical application

In the complex landscape of marketing, the question persists: Can technological advances like artificial intelligence and machine learning enhance marketing effectiveness, or does the human element remain the key differentiator? While technology offers unprecedented targeting capabilities, it’s the synergy of machine precision and human insights that propels marketing effectiveness to new heights. RRD’s Social & Influencer Marketing harnesses this powerful combination, uniting the reach of branded paid social ads with the authenticity of key influencers. Dive deeper into our digital media solutions and discover how you can amplify your brand’s presence and drive measurable outcomes.

SOCIAL & INFLUENCER MARKETING

Insight 4

The rise of contextual commerce

Looking into the future of consumer engagement, contextual commerce emerges as a transformative force, redefining the connection between shoppers and brands. This trend signifies a strategic pivot where personalized and location-aware shopping experiences are seamlessly woven into the consumer’s daily digital and physical interactions. Let’s examine the current shift and its expected evolution.

Insight 4

Contextual commerce is the new growth and engagement strategy

Future business strategies: Emphasizing contextual commerce

In the future contextual commerce will be a high priority strategy for our business

87%

of advertisers
agree

Insight 4

Embracing contextual commerce

Current applications of contextual commerce by advertisers

Social media integration

37%

of advertisers are already incorporating shopping functions into social platforms

Location-based tactics

32%

engage customers through commerce opportunities when they are near physical stores

Contextual advertising

31%

use webpage content to inform and target their ads effectively

Insight 4

Future trends in contextual commerce

Social media shopping function: 34% intend to integrate further with social platforms
Proximity-driven offers: 32% will capitalize on location-based commerce
One-click purchasing: Streamlining purchases for 31% of advertisers
Internet of things (IoT) commerce initiatives: 30% explore smart devices for seamless transactions
Refined contextual targeting: 28% plan to enhance ad relevance based on webpage content

Insight 4

Consumer sentiments on in-store
technologies

Understanding shoppers’ reactions to in-store video cameras

Comfortable

33% feel at ease with such cameras with millennials, Gen X, and the financially affluent leading this group

Indifferent

29%, mainly from Gen Z, show neutrality toward video camera-based personalization in retail spaces

38%

of consumers

Camera shy

Largely baby boomers (50%)and those under financial stress (50%), express discomfort with video cameras for personalized offers

Insight 5

Practical application

Contextual commerce will become a cornerstone strategy by 2024. This trend suggests an industry-wide demand for more personalized, location-based, and platform-integrated shopping experiences that align closely with consumer activities and preferences. Although some consumers may have reservations, especially regarding in-store technology, contextual targeting represents a broader shift toward more targeted and frictionless interactions.

Insight 5

Immersive retail experiences in the spotlight

The retail industry is set to further dive into creating immersive and personalized experiences for customers. Substantial investments are being made across various sectors to enhance the physical shopping environment. Additionally, it’s evident that retail stores will continue to play a vital role, especially those strategically located in suburban and neighborhood areas. This trend is driven by the continued importance of remote work for many families, leading to the flourishing of local retail establishments that serve their communities’ needs.

Insight 5

Investment in immersive experiences

Retailers

84% are investing in making in-store experiences more immersive and personalized

Restaurants

93% are enhancing the in-restaurant experience for customers

Banks/credit unions

95% are developing more immersive and personalized in-branch environments

hi-tech grocery store options

Insight 5

Customer perspective on personalized in-store engagement

Personalized offers

46%

Show interest, with higher enthusiasm among those who pause repayment on loans (58%)

QR code interactions

48%

Willing to engage for personalized coupons, especially loan holders, significantly higher for those with student loans (61%)

Tailored content preferences

Consumers express varied interest in receiving personalized discounts (46%), offers in aisles (42%), and product recommendations (28%) while shopping in a store.

young woman in grocery store

Insight 5

Consumer preferences for in-store video content

33%

Practical advice

Find product-related tips and tricks useful

26%

Culinary content

Enjoy cooking videos or recipes

23%

Demonstrations

Value product demonstration videos

19%

Style inspiration

Are interested in lifestyle or fashion content

Insight 5

Balancing privacy with relevance

Navigating in-store marketing experiences

Baby boomers’ preferences

62%

Show little interest in content provided on in-store screens, emphasizing the importance of tailored engagement strategies

products in aisle

Insight 5

Practical application

A clear emphasis on immersive, personalized shopping experiences is emerging. While technology paves the way for tailored interactions, retailers must consider different comfort levels with in-store tech and privacy across all demographics.

NXTDRIVE

Insight 6

The value-exchange creativity challenge

As privacy concerns continue to shape consumer behavior, marketers are gearing up to innovate the way they offer value in return for consumer insights. The strategy to balance the expectation of personalized marketing with privacy is becoming a priority.

Insight 6

Assessing the significance of data strategies in business

Crafting value for consumer data insights

69% of companies report having a well-developed strategy for offering
value in exchange for personal data

28% are navigating challenges in execution

4% lack a current strategy

Company prioritization of value-exchange strategy

52% Very important

36% Somewhat important

10% Neither important nor unimportant

1% Somewhat unimportant

1% Very unimportant

fingers typing on laptop

Insight 6

“What’s in it for me?”

Consumer preferences for value in data sharing

Top offers

38% Enhanced customer service
36% Loyalty rewards
33% Clear data usage transparency

Desired experiences

33% Customized content
33% Exclusive access
33% Convenience

Product interaction

31% Early access
30% Personalized recommendations
28% Free trials

Security & savings

27% Data security measures
25% Personalized discounts

Insight 6

Keenness to share information for offers

Open to sharing

47% are willing to share details like their email address or ZIP code for special offers, with 18% strongly in agreement

Neutral

22% neither agree nor disagree with data sharing for benefits

Privacy-conscious

31% are hesitant or opposed to sharing personal information for offers

47%

of consumers

Trade data for details

Are open to exchanging personal information for coupons and discounts, especially among those with student loans (58%)

Insight 6

Practical application

The drive to creatively provide value for consumer insights will be a focal point for marketers in the coming years. As companies fine-tune their strategies to align with consumer expectations, the emphasis is on delivering compelling services and rewards that respect privacy while enhancing the customer experience.

Insight 7

The hype machine goes into overdrive

The marketing world is bracing for an acceleration in trend-driven hype, with the potential to heighten the “fear of missing out” among both consumers and brands. As the pace quickens, distinguishing between substantial trends and passing buzz becomes crucial.

Insight 7

Navigating the impact of
emerging trends

One-fifth of marketers express skepticism about recent trends like the metaverse, livestream shopping, and AI/ML, while a significant portion considers them an important part of current business strategies.

20%

of marketers
express skepticism
about recent trends

Insight 7

Perception of trends by marketers

Minority skepticism

The metaverse
Livestream shopping
Artificial intelligence/machine learning (AI/ML)
Augmented reality/virtual reality (AR/VR)
User-generated content

Contextual commerce’s doubt

Even contextual commerce, despite its growing adoption, isn’t immune to being seen as
overhyped by some industry professionals.

Insight 7

Practical application

As the marketing industry confronts an intensified hype cycle, with new technologies and trends generating both excitement and concern, the real task lies in cutting through the noise to uncover actionable strategies that drive genuine growth and engagement. This is where RRD excels. Visit our Resources to learn how our expertise and tools help you distinguish mere buzz from valuable innovations.

RESOURCES

We’re on the brink of a new era

Agility, innovation, and genuine connections are the cornerstones of marketing success. The opportunities ahead are not just for growth but for shaping a market that values authenticity and personal touch.

For marketers ready to turn these insights into action, the future is not just something to predict, but something to create. Let’s embrace the adventure with optimism and the confidence that our strategies will lead to thriving businesses and satisfied customers.

RRD Industry Survey, September 2023 (n = 536), Grocery Drug Mass (n = 103), Retail (n = 102), CPG (n = 126), Restaurant (n = 103), Financial (n = 102).

RRD Awareness-to-Action Study, August 2023 (n = 1,809) — Consumer Outlook

About RRD’s Marketing Outlook 2024 Report

The report examines emerging trends in consumer behavior and their significant impact across various market sectors. It provides essential insights, reveals opportunities, and proposes cutting-edge strategies for navigating challenges and achieving success in today’s dynamic market environment. The RRD Awareness-to-Action Study, conducted in August 2023, involved 1,809 respondents, and the RRD Industry Survey, conducted in September 2023 involved 536 respondents. The participants, all at least 18 years of age and residing in the contiguous United States, were carefully selected through an online research panel.

About RRD

RRD is a global provider of marketing, packaging, print, and supply chain solutions. The company delivers end-to-end solutions, effectively targeting and transforming customer touchpoints into moments of impact. Through a global network of resources, creative execution, proprietary technologies, and measurable media, RRD influences engagement across the entire customer journey.

NXTDRIVE is a trademark of RRD. All rights reserved.

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