Large retailers incorporate elements of local products or materials into their stores
Trend - In order to help support local economies, some multinational companies are selling locally sourced products, or building their stores with locally sourced materials. This shift comes as small businesses and economies struggle to catch up in a post-pandemic world.
Insight - The pandemic's enormous impact on small businesses in North America has resulted in more consumers wanting to support their local businesses and economies. In order to cater to these consumers, large companies are aiming to brand themselves as community-supporting organizations--making consumers feel more comfortable with purchasing from them.
Insight - The pandemic's enormous impact on small businesses in North America has resulted in more consumers wanting to support their local businesses and economies. In order to cater to these consumers, large companies are aiming to brand themselves as community-supporting organizations--making consumers feel more comfortable with purchasing from them.
Workshop Question - How could your brand help support its local economy?
Trend Themes
1. Support Local Economies - Large retailers are incorporating local products or materials to cater to consumers wanting to support their local businesses and economies.
2. Curated Retail Concepts - Azamara's new retail program showcases local products and artisans from each cruise ship's specific destinations to create a unique and ethical luxury experience for travelers.
3. Sustainable Designer Stores - Atelier100's mission to establish a "hyper-local" and sustainable approach to retail features designers and creatives who use locally sourced materials and upcycled items, alongside mentorship and cash benefits from industry professionals.
4. Text-based Shopping Features - Walmart's 'Text to Shop' platform allows for a streamlined shopping experience by enabling consumers to purchase items through text messages.
Industry Implications
1. Retail - Retailers can incorporate local products and materials to build a community-supporting brand, use curated programs to provide ethical luxury experiences, and establish sustainable designer stores. Additionally, text-based shopping features can be added to streamline the shopping experience.
2. Cruise Line - Curated retail concepts that showcase local products and artisans can be implemented to complement evening activities and overnight port stays.
3. Fashion - Sustainable designer stores featuring local and upcycled materials can be established to promote sustainable and ethical fashion practices.
4. Technology - Text-based shopping features can be developed to provide consumers with a streamlined and convenient way to purchase items.
