The affiliate marketing landscape is in a constant state of evolution. Each year brings new technologies, consumer behaviors, and trends that shape the way businesses and marketers operate. As we venture into 2023, several new trends are poised to influence the global affiliate marketing industry1.
Inflation, a global economic concern, is expected to drive more consumers to seek savings and shop around. During challenging economic times, shoppers tend to gravitate towards incentive-based affiliates like cashback, coupon, and loyalty partners. These models have proven crucial for driving sales in affiliate programs. The growing pressure of inflation is expected to push more consumers towards price comparison and seeking discounts online. However, the affiliate channel’s success will be dependent on the level of trust established with their audience and the confidence the audience has in the affiliates’ guidance1.
Next, the ‘recommerce’ marketplaces, which offer refurbished used goods, are expected to thrive even amid economic downturns. These platforms, including the likes of Back Market, musicMagpie, Vinted, and Shpock, provide consumers with cheaper options, thereby promoting sustainable shopping. With the current economic squeeze, more consumers may resort to these marketplaces to save money while reducing their environmental impact1.
As investor cash dwindles due to increasing interest rates and predicted recessions, the affiliate industry is likely to witness less mergers and acquisitions (M&A) activity. Instead, more strategic partnerships that don’t require the same levels of capital or resource to complete are expected. This change in strategy could see industry players developing their offerings through tactical partnerships, thereby expanding their functionalities and scope1.
Google’s FMTC partnership is set to spur single-use code adoption. However, I couldn’t find more details about this trend due to some technical issues.
In addition to these, social commerce is expected to gain more traction in 2023. With social media platforms integrating shopping features into their ecosystems, the intersection of social media and ecommerce is becoming more seamless. Businesses are anticipated to capitalize on this trend, pushing more products and services to the social commerce space.
The second-party data is predicted to gain significance in the affiliate marketing industry. As privacy concerns continue to rise, more businesses will likely leverage second-party data, which involves sharing data between partners in a transparent way, thereby boosting personalization while maintaining user privacy.
Lastly, native advertising is likely to become more prominent in 2023. As users increasingly seek trustworthy and authoritative content, affiliates will need to blend their promotional materials seamlessly into their platforms, making their advertisements less intrusive and more engaging.
