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eLearning > Business > New Business Models > Module 4 / 4

New Business Models and Instant Entrepreneurship

Instructor: Mary Van Puymbroeck
Customer Experience
Download the Customer Experience Trend Report
With the internet fueling the direct-to-consumer market, it's easier than ever to launch a business. Across the internet, we can see DTC making a significant impact on the global economy. Our final module in New Business Models takes on the three key considerations and impacts of direct sales; Cost & Quality, Community Focus and Social Impact.

This chapter zeros in on our Megatrend Instant Entrepreneurship to better understand the way that niche businesses are fostering brand love by directly responding to consumer need. We will explore the implications of the re-formatting of direct sales for your business.
Related Trend Report: Customer Experience
Workshop Questions:
1. How could you have lower overhead and deeper consumer connection?
2. What are the social, ethical, or environmental advantages your brand could have over competitors?
Jeremy Gutsche Keynote Speaker
Featured Insights
Direct-to-Engaged
DTC engagement ring retailers rise in popularity
Trend - For a long time, one needed to visit a store in-person and consult with an expert to buy an engagement ring. Today, a number of direct-to-consumer jewelers specializing in engagement rings are disrupting this process. These e-retailers appeal to Millennials in particular looking to prioritize value, convenience and in some cases, customization over an expert consultation.
Workshop Question - How much value do in-person interactions to your customer experience? How could this be replicated in a digital experience?
5.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
DTC Plant
Direct-to-consumer plant shops speak to Millennial purchasing preferences
Trend - In an effort to help consumers find a natural escape from the stressors of urban life, consumers are turning to direct-to-consumer solutions, even when it comes to plants. This move fulfills the desire many younger consumers have to shop more seamlessly despite how fragile or cumbersome the product or service may be.
Workshop Question - What Millennial need might a direct-to-consumer offering from your industry fulfill?
7.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Authenticity On-Demand
Connection is secured through micro-moment companionship services
Implications - In today's fast-paced and often lonely world, on-demand companionship products that extend beyond a simple transactional relationship work to fill in the gaps of our social experience (for example, helping seniors with their shopping rather than simply driving them to and from the store). While commoditized connection might not necessarily be a new idea, it's the extension of these services to fill everyday micro-moments that delivers the deeper, more authentic link to the world around them that humans so urgently crave.
Workshop Question - How has your brand responded to the increased expectations of authenticity that many consumers have for the brands they interact with?
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
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?
7.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Generation De-stress
Brands place a holistic approach to improve consumer’s mental health
Trend - Millennials have often been viewed as “Generation Stress,” as a result brands have taken noticed and have begun to offer more targeted, natural products and services to mitigate - and educate - these occurrences.
Workshop Question - How can you help consumers have more mental clarity and decrease their daily stress encounters?
5.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Digital Wedding
Direct-to-consumer wedding services opens the door to an online bridal market
Trend - As consumers spen more time shopping online, even the most traditional businesses are responding to this trend. In an effort to provide consumers with a positive experience during a stressful time, brands are offering future brides and grooms DTC wedding products. This shift is a result of consumers wanting low-cost alternatives while being able have a comfortable shopping experience.
Workshop Question - Is there an area of your business where you can provide a consistent online-offline experience?
5.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Everyday Rental
Brands begin to offer everyday items like clothing and home textiles for rent
Trend - Consumers today are increasingly thoughtful with how they spend, leading many companies--especially those whose products are used infrequently--to offer rental options in lieu of expensive purchase items. Brands that sell products used on an everyday basis, like home decor and casual fashion, are pivoting to offer a rental model as well.
Workshop Question - How will consumers' rising expectations when it comes to value and convenience impact your brand?
6.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Foliage Familial
Brands tap into the consumers’ obsession with raising houseplants
Trend - As consumers, particularly Millennials, seek to acquire more greenery and plant life for their homes, brands are responding with new products to help track growth, share updates with social media and even provide tips and guidance for successful plant “parenting.”
Workshop Question - How can you leverage the niche interests of your consumers to build better connections?
5.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Planted Permanence
Millennials cope with an uncertain future by embracing house plants
Implications - Often noted for their inclination toward plants and succulents as an affordable and easily transferable mode of home decor, millennials are electing to invest in design-driven plant stands and pottery that serves as a display of personal style, while also inviting the calming affect of nature. This progression speaks to the simple desire of a much-maligned generation to make smaller commitments that offer a certain sense of stability when facing an uncertain future, such as inhabiting short-term rentals.
Workshop Question - How can design-savvy products that are simple and affordable help consumers cope with uncertain economic futures?
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Sentimental Rental
Rental services shift to offer consumers outlets for emotional support
Implications - As the sharing economy evolves, rental services are moving toward providing a more emotional type of support and engagement. Offering more than just material goods, these rental services provide solutions that seek to offer emotional support toward certain issues such as loneliness, relationships, and marital challenges. Providing a temporary source of relief, these rental services offer consumers the chance to temporarily experience life differently, or even seek to change the course of their own life, showcasing a growing desire for services that speak to fulfill certain inherent needs.
Workshop Question - What can your brand do to connect with your consumers on a more emotional level?
4.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Micro-Farming
Micro-farming is adapted for a variety of purposes
Implications - The concept of micro-farming is so diverse that it can be used to do something as simple as offer functional and attractive home decor pieces, or something as interesting as producing high-quality wine. The diversity of such agricultural technologies allows for brands to instil the perception of "small-batch" in the products they offer, while catering to consumers' preference for DIY creativity in their purchase decisions.
Workshop Question - How could your brand better cater to consumers' sense of creativity?
6.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends