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eLearning > Retail > Rewriting the Rules of Retail > Module 1 / 4

Intro to Consumer Centric Retail

Instructor: Ady Floyd
Rewriting the Rules of Retail
Download the Rewriting the Rules of Retail Trend Report
In this module, Trend Hunter's Director of Client Success Ady Floyd discusses what the future of retail looks like by examining consumer desires and preferences. In order to determine where retail is headed over the next 1, 5, or even 10 years it's important to assess what today's consumers want and need from their retailers. To create a better path to purchase for tomorrow's consumers, we must start by looking at consumers today.

This module is rooted in 3 of Trend Hunter's 18 Megatrends: Naturality, Curation and Artificial Intelligence. Throughout the session, you will gain insights and trends about the future of retail that will showcase what you can do today, in order to obtain tomorrow's consumer.
Related Trend Report: Rewriting the Rules of Retail
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Insights by Trend Hunter AI
Alternative Drive-Thru
The traditional drive-thru format is revamped for modern rituals
Trend - Drive-thrus, once a simple and convenient method of getting food, are now being adapted to better suit the rituals and needs of modern consumers. Everything from accessibility to digitalization is now a focus in this space, with companies and institutions across a range of industries taking part in contemporary versions of standard drive-thrus.
Workshop Question - How could your brand revisit and revamp some of the more traditional aspects of its business?
6.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Luxury Customization
Luxury fashion brands prioritize in-store personalization
Trend - Luxury fashion houses' focus on in-store customization grows as they adapt to changing consumer purchase habits that prioritize enhanced retail experiences via interaction. The focus on customization specifically allows for these brands to appeal to Millennial and Gen Z demographics, who value both experience and personalization in order to establish brand loyalty.
Workshop Question - How could your brand create a more customized retail experience for its customers?
6.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Contact-Less Vending
The traditional vending machine adopts smartphone payment systems
Trend - The convenience of vending machines is being enhanced by brands with the incorporation of contact-less payment systems that can be made through smartphones. This shift comes as this form of retail adapts to meet the demands of consumers’ rituals, with streamlined day-to-day transactions now being the norm.
Workshop Question - How could your brand effectively streamline the purchase journey for its customers?
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Smart Skincare
Skincare and cosmetic retail spaces adopt AI functionalities
Trend - Brands within the cosmetic and skincare space are adopting artificially intelligent capabilities into their retail spaces in order to better personalize the experience of their customers. This shift speaks to the increasingly deliberate and customized nature of self-care.
Workshop Question - How could your brand adopt smart capabilities into its retail space?
7.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Earthen Boutique
Retail concepts incorporate earthy elements that inspire serenity
Trend - In opposition to the mindset of stress-inspired purchasing, forward-thinking brands are elevating the customer experience by creating retail oases defined by earthy design elements. This not only enables these brands to stand out based on aesthetics but also incentivizes consumers to opt for an in-person experience vs. the convenience of shopping online.
Workshop Question - How can you create an in-store experience that inspires your customers to feel tranquil?
6.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Signage Intuition
Retail signs get a high-tech upgrade for consumer interaction
Trend - Up-leveling traditional retail signs and displays, tech-infused signage allows a more intimate, personalized and custom consumer experiences. From illuminated retail signs with app-connectivity to in-store to product recommending beauty displays, consumers are always able to get a more personalized experience without human interaction.
Workshop Question - What is one way you can use smart technology to increase your consumers' experience?
5.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Smart Retail
Stores that fully integrate smart features are increasingly common
Implications - Brands have been incorporating smart elements into their retail spaces, or toying with the idea, for some time now, but some are taking it to the next level with stores that fully integrate smart functions, much like many homes now do. The full integration of smart features into brick-and-mortar spaces speaks to the rising value that consumers place on both omnichannel and highly personalized purchase journeys.
Workshop Question - Conceptualize a retail space for your products/services that would incorporate smart features.
7.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Youthful Omnichannel
Older Gen Z's conflicting needs are consolidated through retail tech
Implications - The older half of Generation Z -- dubbed 'Z-Tribe' through Trend Hunter's research -- has conflicting appreciations for both in-store shopping, and streamlined digital experiences. Omnichannel consolidates these needs. Some retail brands are taking this a step further by explicitly targeting this youth generation through store design, experience, and integration of their social media habits.
Workshop Question - What demographic represents your biggest opportunity, and how can you more explicitly target them?
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Tech Directory
Stores leverage technology to help consumers find and learn about products
Implications - To improve brick-and-mortar retail, brands are implementing advanced technologies like store map apps and navigation tablets. Giving shoppers the power to browse and direct themselves through a store using technology satisfies the consumer desire for quick and easy in-store shopping experiences. Simplifying the consumer’s path to purchase improves omnichannel retail by reinforcing the seamlessness of today's retail landscape.
Workshop Question - How can your brand improve the consumer's path to purchase through technological advancements?
3.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Communicative Package
Data in packaging design enables products to communicate with consumers
Implications - Though technology is more advanced than ever, and consumers have come to expect connectivity at every turn, not all brands can organically integrate smart tech into their products. This has been especially challenging in the CPG world. Smart packaging that learns from and communicates to consumers is a step in the right direction. Using technology to create a dialogue between product and customer strikes the perfect balance of necessity and novelty to both innovate within a given category, and provide use to consumers.
Workshop Question - If you had to categorize your product or service, would it be more of a necessity, or novelty to your customer? How can you better strike a balance?
6
Score
Popularity
Activity
Freshness
Patterns
Megatrends