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FuturistU > 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
Jeremy Gutsche Keynote Speaker

Insights by Trend Hunter AI

Small-Format Retail
More retailers are rolling out small-format stores with curated offerings
Trend - Retail is entering a "less-is-more" era, driven by consumer desire for curated shopping experiences that simplify decision-making. Consumers, overwhelmed by past excess, now value well-edited selections that simplify decision-making. This trend prioritizes quality and guidance over sheer quantity.
Workshop Question - How can your brand refocus its approach to retail by becoming a trusted curator of products, simplifying decision-making for consumers?
7.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Embedded Lending
Tech companies enhance their offerings with Buy Now, Pay Later financial services
Trend - Embedded lending is reshaping financial services by allowing non-financial companies to offer loans and financing, such as Buy Now, Pay Later (BNPL) options exemplified by Apple Pay Later. This trend extends beyond consumer finance into the B2B realm, providing small and medium-sized businesses with faster access to capital through various funding methods like merchant cash advances and revenue-based financing.
Workshop Question - How can your brand leverage embedded lending to enhance customer experiences and create new revenue streams through tailored financial solutions?
4.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Ad
Smart retail shelves are being used to provide customizable in-store marketing
Trend - Brick-and-mortar retailers are implementing smart retail shelf displays to market to consumers at the point of sale. These displays are eye-catching and provide helpful information or video advertisements–enhancing in-store immersion for nearby consumers.
Workshop Question - How might your brand benefit from offering immersive experiences or events to attract new and existing customers to return?
7.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
AI Credit
AI-based tools help users improve their credit scores
Trend - Generative AI has made it easier for people to access information and resources in the process of building their credit scores. These informative apps are customized to users' needs and goals, and could prevent people with low credit scores from turning to unreliable credit repair services.
Workshop Question - How could your brand use AI to improve accessibility?
6.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
P2P Return
E-commerce marketplaces are facilitating direct peer-to-peer returns for efficiency
Trend - E-commerce networks are implementing peer-to-peer (P2P) returns networks that directly connect returned products to consumers purchasing used or previously-owned products. These systems save on items being shipped twice, saving both money and environmental impact for the parties involved.
Workshop Question - How could your brand leverage peer-to-peer systems to improve aspects of its business?
5.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Informed Restaurant
Restaurants are using AI forecasting tools to determine future menu items
Trend - Restaurants are using artificial intelligence (AI) analytics and forecasting tools to determine demand for each menu item. These tools use restaurant-specific and market-wide data to determine future-facing consumer interests, helping determine menu item creation and sales numbers.
Workshop Question - How could your company leverage its data with AI to improve its existing and upcoming services?
7.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
AI Travel
AI-based travel-planning apps take some of the work out of traveling
Trend - Smart-planning apps for travelers are becoming more popular, particularly as pandemic-prompted travel restrictions have lifted. Now, consumers are able to create customized itineraries with the help of AI-based apps that give users a better idea of local offerings and geographies.
Workshop Question - How could your brand better prioritize convenience for its customers?
7.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Local Retail
Large retailers incorporate elements of local products or materials into their stores
Trend - In order to help support local economies, some multinational companies are selling locally sourced products, or building their stores with locally sourced materials. This shift comes as small businesses and economies struggle to catch up in a post-pandemic world.
Workshop Question - How could your brand help support its local economy?
6.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Autonomous Hub
Unstaffed retailers are popping up in densely populated areas
Trend - Retail hubs like hotels, offices and malls are increasingly featuring unstaffed stores in order to speed up consumers' shopping times. These stores allow for smart detection and automatic charges for products that consumers purchase.
Workshop Question - How could your brand better prioritize convenience within its purchase journey?
7.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Keto Soda
Sodas and seltzers are made with low or alternative sugars
Trend - The low-carb keto diet is still popular, and now beverage brands that offer sodas and seltzers are adopting the diet into their product. Beverages with low or alternative sugars are becoming more common as seltzers continue their popularity.
Workshop Question - How could your brand add more value to its existing products?
4.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends