--- title: Tech Predictions for 2023 description: Retail experts weigh in on what the industry can expect in 2023 and beyond. image: https://blog.newmine.com/hubfs/Crystal%20Ball%20Predictions.png --- [![newmine_logo-2](https://blog.newmine.com/hubfs/Assets%20Sales%20Email%20Signature/newmine_logo-2.png)](https://559896.hs-sites.com/newmine-home-page) - RETURNS REDUCTION - [Solution](https://www.newmine.com/returns-reduction) - [Returns AI](http://www.newmine.com/returns-reduction-technology) - [Returns Strategy](http://www.newmine.com/returns-strategy) - [Sustainability](http://www.newmine.com/sustainable-purpose) - ABOUT - [Company](http://www.newmine.com/about-us) - [Community](http://www.newmine.com/community-impact) - [Partnership](http://www.newmine.com/microsoft) - [Careers](http://www.newmine.com/careers) - [Press Releases & Media](http://www.newmine.com/press) - RESOURCES - [Library](http://www.newmine.com/resources) - [Videos](http://www.newmine.com/videos) - [Blog](https://blog.newmine.com/blog) - [Events](http://www.newmine.com/events) - [CALCULATE SAVINGS](http://www.newmine.com/returns-calculator) [REQUEST A DEMO](HTTPS://www.newmine.com/demo-chief-returns-officer) Media # Tech Predictions for 2023 In Chain Store Age, Navjit Bhasin, Founder and CEO of Newmine, along with other experts from several retail technology ... [Newmine Newsroom](https://blog.newmine.com/blog/author/newmine-newsroom) Jan 10, 2023 --- In Chain Store Age, Navjit Bhasin, Founder and CEO of Newmine, along with other experts from several retail technology companies provided their views of what the industry will experience: > ![CSA_logo_main](https://blog.newmine.com/hs-fs/hubfs/CSA_logo_main.png?width=168&height=80&name=CSA_logo_main.png) > > Chain Store Age, Jan. 5, 2022 > > Experts from several retail technology companies gazed into their crystal balls to provide a view of what the industry will experience in 2023 and beyond. > > ## **Navjit Bhasin, founder and CEO of Newmine:** > > **• Consumer value matters — **Consumers will spend, albeit more cautiously, next year. While inflation may subdue over time, that will only occur with more rate increases from central banks, forcing customers to hold off on larger purchases and shop more for value. > > **• Bottom line focus— **Having navigated the pandemic, inflation, the war in Ukraine, labor shortages and inventory excess, retailers will now focus on their processes to drive greater efficiency and shore up their bottom line. This will take the form of new technology deployment as well as a re-examination of resource allocation. > > **• Product returns gain center stage — **Retailers will address their return problem more comprehensively. While some will add return fees, shoppers expect a certain level of service and will abandon retailers that charge for returns rather than risk paying for them. > > Other retailers will take steps to identify and correct their upstream processes that cause shoppers to return items, thereby lowering the amount of returns and improving the customer experience. > >  ..... ## [Read the Full Story](https://chainstoreage.com/tech-predictions-2023) [Media](https://blog.newmine.com/blog/topic/media) ## Similar posts Media ### [WWD: The Four Personas of Serial Returners](https://blog.newmine.com/blog/wwd-the-four-personas-of-serial-returners) Retailers are starting to ban customers who they deem return excessively–Newmine thinks there’s a better way. WWD published our Think Tank on how to... Newmine Newsroom Oct 4, 2019 Returns Reduction ### [Prevention Begins With Production](https://blog.newmine.com/blog/prevention-begins-with-production) In this article, Sara Kim explains the production choices that result in increased product returns, and what brands and retailers can do about it. Sara Kim Nov 15, 2025 Returns Reduction ### [Does Your Organization Need a Returns Champion?](https://blog.newmine.com/blog/does-your-organization-need-a-returns-champion) Newmine interviews retail and supply chain expert Rich McMahon to explore why he thinks retailers need to think differently about product returns. Jenny Gorlin Nov 28, 2022 ### **Perspectives and thought leadership from retail visionaries.** #### Keep informed on retail industry and product returns insights so you can recover revenue and enhance your customer experience. 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