Offering discounts for product exchanges, brands push for continued patronage
Implications - In an age where online shopping is growing even more ubiquitous each quarter, the scramble to encourage continued patronage when competition is virtually endless is intensifying the focus for retailers more than ever. As such, the seemingly retro concept of exchange for a discount is being adopted as a means to fulfill consumer demand for savings and brand requirement to have them return. This business model is also augmenting brands to be more ecologically sustainable as a result, thus broadening consumer perception.
Trend Themes
1. Exchange for Discount - The concept of exchanging an item for a discount is gaining momentum to attract customers and fulfill brand loyalty.
2. Secondhand Commerce - Secondhand shopping is becoming increasingly popular, with business concepts developed around bookstores, lingerie stores and furniture marketplaces.
3. Pop-up Pawn Shops - The concept of holiday pop-up pawn shops, where customers can exchange unwanted items for goods, is gaining traction as a new avenue to engage potential customers.
Industry Implications
1. Retail Industry - Retailers can adopt exchange and discount models or facilitate secondhand commerce to cater to sustainability-minded consumers and beat out online competition.
2. Logistics and Transportation Industry - With the rise of secondhand economy, logistics and transportation companies stand to profit from moving bulky, secondhand goods for retailers and individual customers.
3. Marketing Industry - Companies are looking to engage their audience in unique, entertaining and beneficial ways such as holiday pawnshop pop-ups in order to promote brand awareness and social responsibility.
4 Featured, 35 Examples:
366,178 Total Clicks
Date Range:
May 14 — Dec 15
Trending:
Warm
Consumer Insight Topics:
