Stores offer value beyond mere products by serving as community hubs
Implications - Tapping into the modern consumer's emotional need to connect to a larger cause, brands are beginning to re-imagine the retail experience as a place for building relationships and cultivating community. The re-positioning of retail destinations as centers of local culture also speaks to the consumer interest in seeking out opportunities for sparking real-world connections in an ever-increasing digital era.
Workshop Question - What would you do to transform a brick and mortar retailer into a more communal space?
Trend Themes
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Community Hub Retail Destinations — Retail brands are repositioning their stores as local community centers to take advantage of the modern consumer's emotional need to connect to a larger cause.
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Hybrid Retail Experiences — Brands are adding multiple dimensions to their retail experience combining products with experiential add-ons such as coffee bars, spas and virtual reality technologies.
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Retail Community Kitchens — Retailers are offering commercial kitchens as a place for shoppers to meet, cook and host their friends and family.
Industry Implications
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Retail Industry — The retail industry benefits from these trends as they are changing their ways to connect with consumers through localizing their stores and providing new and creative experiences.
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Hospitality Industry — The trend of adding add-ons such as spas, cafes, and golf simulators to retail experiences offers opportunities to the hospitality industry to collaborate with retail creating unique spaces for consumers to visit.
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Technology Industry — The trend of VR-powered hybrid retail experiences provides opportunities for the technology industry to work with fashion brands to provide unique customer experiences.
