Retailers hyper-curate offerings to one category or commonality
Implications - In the information age, consumers are in a constant state of consumption that can be overwhelming. Thus, the prospect of choosing from several options during the consumption process is becoming less and less attractive. From a retail perspective, this means that omission has more power than addition. Some are responding by curating merchandise to a single category or commonality.
Workshop Question - With so much choice available for the modern consumer, what is your brand doing to make the decision to buy from you easier for your customer?
Trend Themes
1. Hyper-curation - Brands are curating merchandise to a single category or commonality to combat the overwhelming consumption process.
2. Emphasis on Quality - Brands are prioritizing quality over quantity to combat fast fashion and throwaway culture in retail.
3. Singular Shopping Experiences - Online retailers are creating temporary 'shops' that offer a limited amount of inventory that will only be available temporarily to engage consumers and create a sense of urgency.
Industry Implications
1. Retail - Retailers can improve consumer experiences by emphasizing curation, quality, and singular shopping experiences.
2. E-commerce - E-commerce businesses can innovate their model by offering high-quality items that are built to last, and by creating engaging, limited-time online sales.
3. Wedding Industry - The wedding industry can benefit from providing customizable and pre-portioned floral collections that prioritize design, convenience, and affordability.
