What’s New? Summit 2023: Navigating the new-age evolution of digital marketing from data to personalisation to privacy
The What's New? Summit 2023, an esteemed event hosted by KIT Global and supported by The Economic Times, served as a forum for top marketing leaders, visionaries, and digital experts, to explore the way forward in this ever-evolving space. Additionally, the Summit also shed light on the latest trends, challenges, and innovations poised to shape the future of marketing.
Here are some of the key takeaways from the myriad discussions that took place at the Summit, underpinned by pertinent studies and research findings, shedding light on the exciting prospects shaping the world of digital marketing as we speak.
The future of the digital marketing landscape
To comprehend the forces moulding this landscape, let’s first examine research studies that provide valuable insights into these transformations.
E-commerce's Dominance: The exponential growth of the e-commerce industry, particularly accelerated by the impact of COVID-19, is no secret.
According to a UN study, global retail e-commerce sales surged to $4.28 trillion in 2020, marking a staggering 27.6% increase from the previous year. Several other studies echo this trend, signalling a significant uptick in online shopping, with e-commerce sales expected to maintain their upward trajectory.
This underscores the growing influence of e-commerce and underscores the imperative for businesses to embrace online retail as a fundamental element for growth and survival in the digital age.
The AI Revolution: The research conducted by Gartner and McKinsey highlights the transformative role that artificial intelligence plays in the field of marketing. AI is now instrumental for personalised recommendations, chatbots, and data-driven decision-making, equipping marketers with the tools to
