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.
Insight - With the population growth and rapid development of large cities around the world has come a growing demand by consumers for services that they can have access to whenever they choose. The fast-paced lifestyles of urban dwellers requires some flexibility in routine, and brands are having to adapt to that same flexibility to reach as many customers as possible.
Insight - With the population growth and rapid development of large cities around the world has come a growing demand by consumers for services that they can have access to whenever they choose. The fast-paced lifestyles of urban dwellers requires some flexibility in routine, and brands are having to adapt to that same flexibility to reach as many customers as possible.
Workshop Question - How might you adapt your products or services to be more in sync with consumer needs when and where they need it?
Trend Themes
1. On-demand Services - The trend of offering on-demand services are moving beyond QSR and food establishments into other retail spaces like fashion, beauty, and bookstores, which 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.
2. Staffless Convenience Stores - The trend of staffless convenience stores is expanding beyond food establishments, and instead feature in services like self-serve convenience stores that utilize cashless basis for transactions, which results in ultra-organized retail displays. Another trend focuses on complete automation through unmanned 24-hour convenience stores that utilize mobile apps and facial recognition technology for entry and transactions.
3. 24-hour Beauty Shops - The trend of 24-hour beauty shops aims to solve time constraint problems for consumers and is a useful market innovation that other providers can adapt. This trend is especially beneficial for urban dwellers who live fast-paced lives that require flexibility in routines.
Industry Implications
1. Retail Industry - The retail industry is adapting to meet consumers' demand of on-demand services, self-service stores, and staffless stores beyond just food and beverage establishments.
2. Technology Industry - The technology industry is playing a vital role in providing automation, convenience, security, and efficiency to the operations of various businesses.
3. Personal Services Industry - The personal services industry is benefiting from innovative and on-demand conveniences that enable them to outsource the more mundane tasks of life without sacrificing quality or personalization.
