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eLearning > Business > New Business Models > Module 2 / 4

New Business Models and Many-to-Many

Instructor: Mary Van Puymbroeck
Future of Business
Download the Future of Business Trend Report
Shifting priorities have made consumers increasingly willing to sacrifice ownership for community and convenience by way of the peer-to-peer economy. With fast fashion on the out and online thrifting on the rise, what is driving this change from the perspective of the consumer? This module explores the concept of access as the new ownership through the lens of our Megatrend Many-to-Many.

Big-brand skepticism caused a rise in P2P so that we're not buying from corporations anymore -- we are buying from actual people. Today, it’s all about the glamorization of small businesses. How can your organization lean into and leverage these shifting preferences?
Related Trend Report: Future of Business
Workshop Questions:
1. What would your brand need to do to focus more on access than ownership?
2. What resources could your organization share with other businesses today?
Jeremy Gutsche Keynote Speaker
Featured Insights
Fancy Food Hall
Chef-driven food halls signal a new form of fast-casual dining
Trend - The food hall concept is quickly adapting to contemporary times by appealing to the elevated consumer experience. This is done through the introduction of high-end interior design and chef-curated meal offerings.
Workshop Question - Where within the food hall business model could your company find inspiration?
5.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Revamped Consignment
The concept of second-hand designer shops is reinvented for modern consumers
Implications - Considering the Millennial's propensity for eco-consciousness and luxury goods, consignment shopping is a natural fit for their interests. As a result, this style of retail is being revisited and revamped. From digital drop-off consignment to designer-controlled consignment, tweaks to this space show an evolution that takes the Millennial appeal even further.
Workshop Question - What is one movement within your industry that you could own, and how?
5.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
Restaurant Grocery
Restaurants are now offering delivery and pick-up of grocery essentials
Trend - Since the introduction of social distancing, restaurants have had to pivot from dine-in service to take-out only and many have opted to sell their food products to provide consumers access to essential groceries. Various restaurants are now offering curbside pick up and delivery options for these goods.
Workshop Question - How can your brand pivot its services to meet the needs of consumers during challenging times?
4.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
E-Commerce Adaptation
Businesses are opting in for specialized platforms to transition to digital
Trend - As many non-essential businesses remain closed during COVID-19 lockdown orders, owners turn to digital platforms in order to seamlessly transition the brick-and-mortar experience to the online environment. These platforms are made with small and mid-sized businesses in mind, boasting lucrative features such as customer reach and more efficient payment processes.
Workshop Question - How might you adapt your brick-and-mortar service/product to the online environment?
7.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
24-hr Retail
Retailers outside of food and beverage opt for round-the-clock consumer care
Trend - On-demand, 24-hr services are moving beyond QSR and food establishments into other retail spaces like fashion and beauty. Realizing the importance of customer care, brands are seeking to offer elements of convenience, personalization and access to their goods whenever they're needed. Such on-demand tactics by retailers, especially those not typically associated with such accessibility, speaks to the growing consideration of consumer needs among brands, to the point where retailers are adapting their business models and operating processes to better support them.
Workshop Question - How might you adapt your products or services to be more in sync with consumer needs when and where they need it?
7.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Fast Food Luxury
The fast food industry opens itself to opportunities in the luxury market
Trend - Brands in the fast-food space are entering the luxury market (or vice versa) in a way that allows for crossover appeal for varying demographics. Whether in food items or in experimentation with new business models, this shift reveals how brands can collaborate with unlikely industries in order to maximize their appeal.
Workshop Question - Consider an industry that in some ways, is the antithesis of yours. How could your company expand into that space?
7.4
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Expedited Prescription
Pharmacies revamp their layout to prioritize speed and convenience
Trend - Pharmaceutical companies are shifting not only their layout but streamlining their services to keep up with the busy lives of consumers. Over-the-counter drugs are conveniently more accessible and can be picked up with little to no wait times thanks to new tech that enhances delivery and in-person services.
Workshop Question - How can you promote convenience through an element of your product/service?
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
All-in-One Retail
Businesses focus on providing a multitude of products and services in one place
Implications - Brands are taking the one-stop-shop format to the next level by offering consumers easier ways to plan, access and complete all their necessary shopping needs in one go. Tapping in-store offerings as well as online apps, brands are realizing the importance of convenience when it comes to consumer experiences, and with that, are combining often different experiences to become one unique activity. From retail destinations that give you all your wedding necessities to branded apps that combine online loyalty programs with in-store functionalities, these examples not only offer convenience, but speaks to the growing desire for customized experiences among consumers.
Workshop Question - In what ways could your brand customize your product or service experience to be more convenient and aligned to their needs and rituals?
5.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Authentic Airline
Dining on flights becomes more customized and exclusive
Implications - Airlines are upping their in-flight services to offer flyers customized and exclusive menus to increase consumer satisfaction. Options that only exist on certain airlines or flights (not even in stores) entice consumers and ensure the post-flight cravings will keep the brand on the consumer's mind. Offering exclusivity is one way that brands can let their consumers know how much they value their loyalty.
Workshop Question - What kind of highly exclusive offer can you provide your consumers?
3.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Culinary Travel
Travel platforms, products and services are centered around culinary industries
Implications - Though food is a large motivating factor for why people travel, the concept of travel-related platforms and services, both small and large scale, that are centered around food are just beginning to pop up. These services and spaces cater to consumers seeking forms of travel that are able to curate experiences that cater to their precise expectations.
Workshop Question - How could your brand better center the consumer experience around their precise preferences and expectations?
3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Pop-Up Ubiquity
Brands on the extreme ends of either fast or luxe fashion embrace pop-up shops
Implications - The ubiquitous nature of pop-up marketing is now apparent in the fact that retailers on extreme ends of the mass-market and luxury scale are embracing it. Where once the former's strong global presence and the latter's aim at exclusivity offered associated brands justification for upholding the status quo, there now exists a role reversal in which mass-market retailers seek to strengthen loyalty via the perceived exclusivity of pop-ups, and luxury retailers seek to broaden their reach and accessibility through this marketing tactic.
Workshop Question - Conceptualize an alternative campaigning approach that your brand has not yet considered.
6.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends