Instead of shopping, consumers are told what to buy from in-the-know retailers
Implications - While the push towards customization in retail has been beneficial for both buyer and seller, consumers are craving the next level of shopping, which consists of being told precisely what to purchase. Offering minimal choice and requiring little effort by the consumer, brands direct buyers to the exact items they should buy to satisfy a desire for hyper-personalization.
Trend Themes
1. Personalized Shopping - Consumers are looking for minimalistic choices in shopping and desire to be informed by retailers on what to purchase to fulfill their needs.
2. Subscription-based Services - The popularity of subscription-based clothing services indicates a consumer preference for convenient and affordable access to new, curated styles.
3. Price-based Search Engines - The emergence of gift search engines like WannaSpend show a potential market for consumers who want to simplify their shopping experience through budget-based gift ideas.
Industry Implications
1. Retail Industry - Retailers can explore personalized shopping experiences through artificial intelligence or digitizing product catalogs. Subscription-based clothing services can also provide a consistent source of revenue.
2. Fashion Industry - Fashion brands can take advantage of subscription-based models and increase their reach to a larger audience through targeted, personalized styling services.
3. Search Engine Industry - Search engine companies can develop tools and services to simplify the shopping process, such as budget-based shopping or personalized product recommendations.
