January 21, 2022
NRF SmartBrief Retail on Main Street
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Connecting with Customers
Cowen International predicts US advertising will witness its highest growth -- 7% -- in 10 years during 2022, while digital ads will increase 17% in the US to reach $221 billion. Based on its ad buyer survey, Cowen expects Amazon, TikTok and YouTube to see the biggest gains in advertising and forecasts that 33% of performance budgets will shift to other platforms as a result of iOS privacy changes.
Full Story: MediaPost Communications (free registration) (1/19) 
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Euromonitor International outlines 10 significant consumer desires and behaviors in an annual report and describes how brands can adapt to them in the new year. Try offering subscription services or community-group buying to individuals grappling with supply chain disruptions, invest in augmented or virtual reality capabilities to engage with individuals embracing immersive experiences, and blend virtual and in-person events for individuals that are cautious about returning to their pre-pandemic lives.
Full Story: MediaPost Communications (free registration) (1/18),  The Wall Street Journal (1/18) 
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Creating an effective marketing campaign starts with knowing your customers -- something that can be determined through the creation of buyer personas that provide a snapshot of their demographics and interests as well how your products match with those interests. Being armed with that information enables you to focus on building an adaptive marketing strategy that also takes into account what competitors have to offer.
Full Story: Business News Daily (1/20) 
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What trends will move digital commerce in 2021?
Pivotree experts share their predictions for 2022 across three critical areas of commerce: Supply Chain, eCommerce, and Data Management. Join us for an interactive chat to find out when and how supply chain woes could ease up, the trends we expect to accelerate, and 3 areas of CX to focus on. Register for the webinar.
Keeping Shop
Your emotions should ideally match the situation, but how should you communicate when there's a mismatch? "It turned out that over the course of many interactions, 'medium richness' communication, such as telephone or audio, is most likely to make inauthentically communicated emotion seem the most authentic," writes University of Texas at Austin professor Andrew Brodsky, who presents his research findings.
Full Story: Harvard Business Review (tiered subscription model) (1/20) 
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Only about a quarter of employees strongly agree that the feedback they receive is helpful, but the vast majority of people believe that constructive feedback that is presented with respect and positivity can improve their performance, writes leadership development consultant Michael Timms. Leaders should start by asking for feedback before providing their own so employees can see how much it is valued within the business, Timms writes.
Full Story: Fast Company (tiered subscription model) (1/18) 
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Managing the Money
If your application for a loan backed by the Small Business Administration was denied, several factors could be the cause, including problems with your credit score or cash flow, writes Gerri Detweiler, who also explains what to do next. In addition, Detweiler notes that, although the window for applications for the SBA's COVID-19 Economic Injury Disaster Loans has closed, businesses that were denied may still have time to request reconsideration.
Full Story: Nav Small Business Blog (1/18) 
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Policy & Trends
Retail executives were optimistic in their outlooks for growth in the new year at NRF 2022: Retail's Big Show in New York City this week, with predictions of continued high demand and innovation by retailers adapting to changing consumer needs. Uncertainty about the pandemic and related issues brought some anxiety to attendees, as well as concerns that shoppers could shift more spending to experiences and services in the post-pandemic world.
Full Story: Women's Wear Daily (1/19) 
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Stories from the Street
After a time in France where Benjamin Daire worked as a chef and his wife, Mary, worked with French wineries, the couple came to Lenox, Mass., where they created Melusine Wines -- a company that linked foreign winemakers with importers. After cultivating relationships with smaller winemakers, the couple decided to open their own wine shop in downtown Lenox in November where they could focus on selling a specially curated selection of difficult-to-find wines.
Full Story: The Berkshire Eagle (Pittsfield, Mass.) (1/12) 
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NRF News
Congress hears NRF's S.O.S. call
In November 2021, the $1.2 trillion Infrastructure Investment and Jobs Act was signed into law. It included historic investments in our roads, bridges, rails and ports to help get America's supply chains back on track, as well as new policies that add more truck drivers to the workforce to address the truck driver shortage. The final step to Save Our Shipments is to enact the Ocean Shipping Reform Act of 2021 (H.R. 4996). Join NRF in calling on members of the US Senate to support the Ocean Shipping Reform Act of 2021 today.
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NRF 2022 DE&I Stage and Showcase celebrates legacy of Dr. Martin Luther King Jr.
On Monday, Jan. 17, at NRF 2022: Retail's Big Show, NRF celebrated Dr. Martin Luther King Jr.'s legacy with a "day on" of collaboration and inclusive learning at the new DE&I Stage and Showcase. Marc Morial, president and CEO, National Urban League, and Frida Polli, CEO and co-founder, Pymetrics, reflected on our nation's progess in diversity and building a framework businesses can use to be more inclusive. Learn more.
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MainStreet SmartStat: Jan. 21, 2022
50% of consumers claim they're willing to pay a premium for sustainability. Source: IBM/NRF
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We wanted a way to tell these little stories. Wine helps people connect and brings people together.
Ben Daire, co-owner of Dare Bottleshop & Provisions, as quoted by The Berkshire Eagle
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