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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?
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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?
4.6
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?
6.4
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
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
Plant Shop
Plant care workshops and classes help people hone plant-based hobbies
Trend - Plant care is a popular hobby among Millennials and now, older Gen Z, and brands are taking advantage of this trend with workshops and classes that help people hone their skills in this space. These workshops are taking place both in retail spaces and virtually amidst pandemic pivots.
Workshop Question - How is your brand curating distinct experiences for its more loyal customers?
7.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
One-to-One Retail
Stores serve one customer at a time to give safe, ultra-custom experiences
Trend - The retail industry has seen a lot of transformation in light of the pandemic. One recent development is the growth of storefronts or services dedicated to limiting the shopping experience to two people: the retail worker and the customer. This is being executed virtually as well as in person and has the benefits of both safety and full personalization.
Workshop Question - How will you satisfy the opposing consumer need for experience and safety in the new normal?
6.2
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Simplified Engagement
Engagement ring-buying platforms help guide users to make the right choice
Trend - Platforms on which people buy wedding rings are offering more information, quizzes and guidance about things related to the quality, design, and fit of engagement rings. These platforms simplify the buying process for users and help them better understand their options.
Workshop Question - How is your brand simplifying the purchase journey for its customers?
6.8
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?
6.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Incremental Entrepreneurship
Services that enable small steps help busy consumers start businesses
Implications - Many consumers today want to start their own businesses, however, juggling entrepreneurship and personal responsibility can be difficult. This is especially true for Gen Xenos consumers, who are both inclined to start their own business, and dedicated to their family life. Services that enable one to approach entrepreneurship in incremental steps help maintain a work-life balance while also enabling the pursuit of that dream.
Workshop Question - How can your company provide entrepreneurial employees with more ambitious opportunities?
4.6
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
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?
4.8
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?
4.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends