Established brands test boutique-inspired concepts in limited runs
Implications - Engaging concept stores that project a company's view for the future provide an opportunity for established brands to be reimagined in a contemporary light. Often targeting the urban consumer, these cutting-edge concepts are a low-risk means of testing out modern merchandising and design innovations that reflect the changing retail landscape. This progression speaks to the need for established retail brands to continually modernize, if only to prove to consumers that their desires are heard and valued.
Workshop Question - How can your brand ensure that its consumers feel catered to and valued?
Trend Themes
-
Concept Stores — Established brands can modernize by creating concept stores that test modern merchandising and design innovations.
-
Boutique Makeovers — Hotels and fast food chains are undergoing boutique makeovers to appeal to the modern consumer and to differentiate themselves from the competition.
-
Modern Interiors — Fast food chains and retailers are utilizing modern interiors to create a more luxurious and appealing experience for consumers.
Industry Implications
-
Hospitality — There is a growing trend in the hospitality industry to create boutique hotel chains to appeal to a new generation of travelers.
-
Retail — Retailers are using concept stores and aesthetic makeovers to modernize their brand and stay relevant in the competitive retail industry.
-
Fast Food — Fast food chains are using modern interiors and updating their stores to create a more luxurious and upscale experience for consumers.
