Online retailers rely on customer votes to push production
Implications - Vote-based selling is gaining momentum in the world of online retail as businesses proactively employ the opinions of their customers. While democratic selling relies on crowdsourcing, it goes one step further by collecting customer votes and basing production entirely on those votes. So, the voice of the customer really is the voice of the customer.
Trend Themes
1. Vote-based Selling - Online retailers are relying on customer votes to push production resulting in a democratization of retail and opportunities for crowd-sourced exclusive products
2. Crowdsourced Design - Design is being crowdsourced increasingly by businesses as it offers unique ideas and reduces waste while giving democratized control to the customers resulting in reduced costs, originality, and uniqueness in the market
3. On-demand Manufacturing - The combination of on-demand manufacturing with crowdsourced design is leading to a significant reduction in waste, optimization of resources, and innovative sustainability opportunities
Industry Implications
1. Retail Industry - The retail industry can benefit from vote-based selling to democratize and increase exclusivity of products
2. Fashion Industry - Crowdsourced design and democratic fashion merchandising can allow for unique and exclusive designs while optimizing resources and reducing waste
3. Furniture Industry - On-demand manufacturing and crowdsourced design offer furniture companies the opportunity to reduce production costs, waste, and optimize resources
