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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
View Innovation Webinars
Insights by Trend Hunter AI
Shopping Locker
Contactless lockers enhance the safety of shopping experiences
Trend - Lockers in the retail industry are being rolled out as businesses look for ways to keep both customers and employees safe amidst the ongoing pandemic. Everything from food pickup to in-store returns are now being exchanged via lockers to reduce instances of person-to-person contact.
Workshop Question - How is your brand prioritizing safety as it conducts its day-to-day business?
7.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Experiential Addition
Retail brands make the store a destination post-Pandemic
Trend - Still betting on the experience economy, brands are launching retail initiatives that are seemingly unrelated to their products or services. These are solely designed to provide such a high level of surprise and delight to override concern for visiting public spaces. These activations are created with COVID-19 safety and hygiene guidelines in mind, yet also draw over-the-top inspiration from adjacent industries.
Workshop Question - Conceptualize an experience that will fit into the COVID-19 climate.
8.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
3d Shopping
3d virtual shopping platforms aim to elevate the purchase journey
Trend - 3d visuals on e-commerce platforms are increasingly popular as consumers seek out more immersive forms of virtual retail. These aesthetics have the benefit of showing customers the products in a more realistic and all-encompassing way.
Workshop Question - How is your brand enhancing its virtual shopping experience for customers?
6.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Algorithmic Perfumery
Brands are using artificial intelligence to create impactful fragrances
Trend - Fragrance brands are turning to artificial intelligence and machine learning to create impactful and hyper-customized products that appeal to unique consumer preferences. While some companies are using this technology in order to invite consumers into the product development experience, others are referencing data-driven studies to better target select demographics.
Workshop Question - How can your company utilize artificial intelligence in the product development cycle?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Post-Crisis Retail
Brick and mortar spaces will likely undergo long term changes post-COVID
Trend - After the restrictions on public movement due to COVID-19 have eased or lifted around the world, retail spaces will still require additional safety measures in order to keep infection risks at a minimum. This will occur (and is already occurring) in the form of contactless payment systems, limiting customers in-store, and redesigned layouts that enforce physical distance between customers.
Workshop Question - How is your brand preparing for a post-COVID world?
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
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?
5.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Theatrical Retail
Retailers take cues from the entertainment space
Trend - As the need for up-leveled in-store experiences continues to rise, retailers are looking outside their typical industries for inspiration. More specifically, retailers are looking to the immersive theatre space to inspire their brick-and-mortar strategies.
Workshop Question - How can you create a more theatrical purchasing experience for your consumers?
5.6
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
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Beyond-Insta Retail
Curious consumers seek enlightenment over Instagram-worthy pop-ups
Trend - Brands take on the role of teachers and mentors, catering to consumers who have a heightened desire to learn and extend their current knowledge. While maintaining Instagram-worthy interiors, retailers begin to incorporate new tools like in-store audiobooks, fact walls, and up-leveled workshops to enhance the consumer's path to purchase.
Workshop Question - How can you cater to the consumer desire for educational retail experiences that reach beyond social media?
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?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends