Consumers receive hyper-specific selections of products and services
Implications - In a progression that can be seen as a response to so-called analysis paralysis, consumers are increasingly exposed to limited, hyper-specific selections of products and services through convenience-focused means. These carefully curated selections serve to provide stylized suggestions that make deliberating over a purchase less painstaking for the busy modern consumer.
Trend Themes
1. Curated Commerce - Consumers are increasingly exposed to limited, hyper-specific selections of products through convenience-focused means, leading to opportunities for small businesses to personalize and provide unique shopping experiences.
2. Sharing Economy - As the sharing economy continues to disrupt traditional industries, there is a growing trend towards businesses partnering with non-traditional collaborators, leading to opportunities for cross-industry innovation and revenue growth.
3. Subscription Services - The rise of subscription services has created opportunities for businesses to personalize and offer on-demand experiences while establishing a steady stream of revenue.
Industry Implications
1. Retail - By leveraging curated commerce and personalized experiences, retailers can differentiate themselves and drive traffic to physical and/or online stores.
2. Hospitality - The integration of on-demand services such as in-suite fashion bars opens opportunities for hospitality to personalize experiences and offer convenience to guests.
3. Music Industry - Subscription and curation services like Measured open new avenues for the music industry to reach and engage audiences, establishing a loyal following and steady stream of revenue.
