In the chemical industry, there is likely to be continued investment in research and development to create new, more sustainable products and production processes. Companies may also focus on expanding their operations globally to tap into growing markets, while also facing increased competition from companies in emerging economies.

The retail industry in the US is expected to continue its shift toward online and omnichannel shopping, driven by consumers who are increasingly looking for convenient, fast, and personalized shopping experiences. Physical retail stores may continue to evolve to become more experiential and less transactional, with a focus on providing an immersive and interactive shopping environment. However, retailers are also likely to face increased pressure from e-commerce giants like Amazon, which will continue to dominate the online retail space.

Overall, both the chemical and retail industries in the US in 2023 will face new challenges and opportunities, and the companies that are able to effectively adapt to changing market conditions and consumer preferences are likely to be the most successful.

At Anderson Brown, we have represented companies in both the chemical and retail industries and know the challenges that will face these sectors. The legal and regulatory environment will continue to add pressure to the industry operator looking to squeeze margins out of existing operations. This may require innovative business and legal thinking as that this firm is adept at providing.