New Ventures

Implications - Offering more than just off-the-shelf goods and pre-packaged items, kiosks and vending machines are diving into fresh food territory to add healthy options to the mix. From stations that offer consumers the chance to re-fill their milk bottles to those where you can purchase fresh salads and vegetables , these examples not only speak to the growth of convenience culture, but also the desire to maintain a sense of health and wellness along the way.

Homework Question - How can your brand balance the desire for convenience and healthy living? What elements of your products or services would you adapt? [More]

Where once, at-home shopping parties were hosted by salespeople employed by the brand, today's branded in-home events focus on providing curated products that contribute to the ambiance of an event. Instead of hosting shopping parties, branded packages serve as tools that hosts can use to create a more seamless, yet curated experience, while also enabling large brands to organically market in intimate spaces that were previously untouched.

Homework Question - How has your brand been impacted by recent shifts in how individuals prefer to socialize? [More]

Implications - Seeking to prioritize more than just their customers, food delivery services are working toward more initiatives and building in business practices that highlight the safety and care of their own workers. Whether it be allocating funds to ensuring the quality of the vehicles they're using or simply creating experiences that allow employees to interact and socialize, these examples speak to businesses, both big and small, making more of an effort to make their workers feel heard, engaged and taken care of.

Homework Question - How can you as a company and brand make your employees feel better appreciated and secure? What policies can you put in place? [More]

Implications - In response to the tendency for businesses to hire short-time workers and independent contractors, the opportunity to deliver resources such as legal services and benefits packages for these workers has arisen. The appearance of these resources speaks to the increased opportunity for companies to respond to shifting norms in the way people work. This particularly benefits Millennial employees, who crave new experiences and opportunities within their professional lives, but still require some of the securities that a full-time job would afford.

Homework Question - How is your industry responding to shifting norms in the way people work? [More]

Implications - Within the Circular Economy, the use of virgin materials and material waste is removed from the use cycle, and existing materials are repurposed to close the use loop. From upcycled linen services to repurposed beer waste, these products and services reintroduce resources into the use cycle that would otherwise be considered waste. The increased popularity of such systems correlates with the rise of the informed consumer, and in this case caters to their propensity for contributing to a more sustainable and waste-free world.

Homework Question - What would a Circular Economy restructuring look like in your industry? [More]

Implications - While blockchain technology is still in its infancy, its application in voting means that we can almost guarantee security while allowing for increased participation for remote legally registered voters. With electoral fraud being highly scrutinized as of late, blockchain technology has the potential to provide a foundation where institutions can work to restore faith in electoral systems, and could contribute to more accessible voting processes.

Homework Question - How might the guaranteed security of blockchain technology impact your industry? [More]

Implications - Though the majority of North American consumers are interested in buying from small businesses, the lack of accessibility (and therefore, convenience) can be a barrier. Small businesses are responding by innovating around the delivery of their products. This opens artisan products up to an entirely new market, capitalizing on the desire to buy consciously.

Homework Question - What is one thing you could tweak about how your product is packaged or stocked to enhance accessibility? [More]

Implications - As brands look to create lifelong consumers, many are pivoting part of their focus towards the interests of older demographics including Boomers and seniors. By uncovering the passions and priorities of these inherently social consumer segments, brands are able to foster environments that empower older consumers to be themselves and create communities around shared interests. This seemingly unlikely shift in focus denotes the importance of remaining relevant to consumers through different stages of their lives.

Homework Question - How much will your current branding resonate with your consumer's next life stage? [More]

Implications - Not just for targeting Millennial consumers, gamification serves to create emotional engagement between brands and older demographics, including the Boomer segment. With more free time and disposable income, Boomers are seeking fun ways to interact with brands in their leisure time, from gamified shopping services to playful retreat experiences. By leveraging the elements of addictive game play, brands are creating new consumers among this traditionally brand-loyal demographic.

Homework Question - Which viable consumer segments are you overlooking? [More]

Implications - With less than 10% of Millennials considering themselves to have high level knowledge about their personal finances, a huge opportunity lies in creating new resources for financial literacy. As modern adulthood becomes increasingly complex with the balance of multiple jobs, managing debt and paying off student loans, banking and investing can often become intimidating to younger consumers who are already accustomed to simplified apps and online tutorials. This shifting approach means Millennial loyalty will lie with financial institutions that offer a helping hand through streamlined financial literacy and hassle-free banking transactions.

Homework Question - What is the simplest way to engage with your industry and how can you help streamline that for the future consumer? [More]