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eLearning > Business > New Business Models > Module 3 / 4

New Business Models and Simplicity

Instructor: Mary Van Puymbroeck
Convenience Culture
Download the Convenience Culture Trend Report
In a world where nearly any product or service is available in an instant, on-demand services hold the upper hand over more traditional business models.
The rise of on-demand services speaks to a growing expectation for access and convenience. This module aims to explore current expressions of the Instant Economy through the lens of our Megatrend, Simplicity.

The Instant Economy is one where access to goods, products and services are delivered just as quickly as a need is identified. With more consumers leaning into and developing an appetite for instant gratification, what are the key expressions and implications of this for your business?
Related Trend Report: Convenience Culture
Workshop Questions:
1. How could you delivery a luxury experience without compromising convenience?
2. When was the last time you experimented with how to delivery your product, and what's changed since?
Get the 2021 Trend Report FREE
Featured Insights
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
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?
5.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Insights by Trend Hunter AI
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
Rental Tech
Brands are launching tech-forward products to streamline landlord-tenant relationships
Trend - Deployed either as an app that utilizes high-end tech features such as artificial intelligence or a small gadget that is convenient and responsive, tech brands are looking to enhance the experience of renting in urban environments.
Workshop Question - How might you enable a better tenant-landlord relationship through tech?
7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Big-Brand Subscription
Large brands adopt subscription models for accessibility
Trend - Global or soon-to-be global brands are replicating small brands by offering subscription models that make their products more accessible to the average person. These include everything from deliveries to the temporary use of luxury items.
Workshop Question - How could your brand create or improve a subscription model for its customers?
6
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
Curbside Consuming
Consumers are opting to buy online and pickup in-store
Trend - Amid the COVID-19 pandemic, curbside pickup became the standard way for shoppers to access goods without possible contamination. As the economy slowly re-opens, consumers are still leveraging this shopping option in lieu of browsing in-store or strictly online shopping.
Workshop Question - How can your brand leverage evolving shopping habits post-COVID?
4.7
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?
6.3
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
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?
6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Eco Vending
The traditional vending machine models adapts to prioritize sustainability
Trend - Vending machines that offer environmentally friendly products are on the rise, with everything from package-free items to eco-friendly materials being offered in these machines. This shift comes as brands in the quick-serve space aim to better adapt to the steady growth of conscious consumerism.
Workshop Question - How could your brand better adapt to the rise of conscious consumerism?
7.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends