Selling Finishing Materials: Top 5 Trends of 2023

As we are getting closer to the end of the year, it’s time to look through the main industry trends and define the most important and valuable actions you can take to boost your sales next year.

Let’s dive in.

#1. Digital transformation

Digital transformation is still the main trend in the industry of finishing materials. Retailers and manufacturers update their websites, open online shops, and try to adjust their tools and approaches to the new reality. 

The biggest challenge that the field is facing is product presentation in e-commerce. The complexity of finishing materials makes it hard to demonstrate color, texture, and other features via photos. As a result, alternative ways of product presentation are gaining popularity, such as rich content and VR/AR-powered tools.

In our blog, we have been exploring digital transformation, current e-commerce trends 2023 you need to know, and best practices to PDP and product presentation via rich media. Check out other articles to dive deeper into details and get useful insights:

• Rich Content 101: What It Is, Why, and How to Use It
• How to Create a Product Page for Your DIY Store in 2023
• E-commerce Trends 2023: How to Increase Your Conversion Rate

Pro tip: We at Wizart offer a wide range of tools and solutions for advanced product presentation and hi-tech product content for companies that work in the finishing materials market. Contact us to learn how we can help you.

#2. Sustainability

Sustainability, concern for the environment and ecology, ethical production, and distribution are other major trends for building materials. Both customers and governments require businesses to become greener. Environmental Act 2021, Plastic Packaging Tax, the Climate Change Legislation, and other laws obligate business owners to reduce environmental impact.

Here are some ideas for how to make your business more sustainable next year:

• Decrease the amount of waste your company produces by using recyclable materials;
• Reduce carbon footprint by replacing physical product samples sent to the customer with AI-powered visualizations and rich content tools. Book a demo to see AR technology in action;
• Lower CO2 emissions and save on transport costs by prioritizing local suppliers.

#3. Data-driven approach

Data is king. This statement is becoming true for more and more business owners. Modern solutions with machine learning can open to you unlimited possibilities for data analysis, finding insights, and making data-driven decisions for your business strategy. But to get these benefits, you need to focus on finding ways to gather, transform, use, and share data quickly and cheaply.

Pro tip: With Wizart, you can access a powerful PIM system with the data of 100+ manufacturers of finishing materials around the world. Check out the details.

#4. Economical instability

2022 brought us a lot of turbulence in terms of the economic situation. The inflation reached numbers we haven’t seen for decades, and together with energy crises, they influence the costs of any products all over the supply chain. Experts predict that the economic instability will continue throughout 2023. 

To overcome potential issues and keep your prices more stable, you can invest in automation. Use IT solutions that can help you cut down costs for routine tasks and improve the maintenance of the supply chain.

#5. Retail consolidation

Retail consolidation is not a new trend in the market of finishing materials, but it keeps accelerating. Small independent retailers and chains leave the market, unable to compete with larger ones. Large marketplaces are becoming more and more valuable parts of the distribution network. 

In this situation, keeping your sales channels versatile is the easiest and safest way to prevent potential difficulties with product distribution.

In the end, we want to remind you that all these trends will not be the only things that can impact your business and sales, so it’s necessary to keep your finger on the pulse and track the novelties in the field.

Start your digital transformation by improving your product content with Wizart.