Retailers engage consumers by supporting feedback and creativity
Implications - In the peer-to-peer economy, retailers are not only responsible for providing goods and services to consumers, but also creating a collaborative and meaningful shopping experience. As a result, retailers are nurturing the creativity and involvement of their customers, whether it's by supporting entrepreneurial ventures or collecting honest feedback. This approach introduces a human element to the consumer-brand relationship that's necessary to stay competitive in the growing sharing economy.
Workshop Question - How are you leveraging crowdsourcing to improve overall consumer satisfaction and increase engagement?
Trend Themes
1. Collaborative Retail - Retailers are creating collaborative shopping experiences by nurturing the creativity and involvement of their customers, and supporting entrepreneurial ventures or collecting honest feedback.
2. Peer-to-peer Retailing - Retailers are moving to peer-to-peer business model to increase promotion with each purchase made.
3. User-generated Feedback - Retailers are leveraging user-generated feedback to promote new inventions and gain insights about a range of products.
Industry Implications
1. Retail Industry - Retailers can innovate and differentiate themselves by creating collaborative shopping experiences, moving to peer-to-peer business models, and leveraging user-generated feedback for promotion and insights.
2. E-commerce Industry - E-commerce companies can learn from retailers and create collaborative shopping experiences, move to peer-to-peer business models, and leverage user-generated feedback for promotion and insights.
3. Consumer Goods Industry - Consumer goods companies can innovate and differentiate themselves by promoting ethical shopping practices, supporting independent artisans, and leveraging user-generated feedback for promotion and insights.
