Solar energy is increasingly utilized by the retail and restaurant industries
Trend - Retail and dining establishments are moving brick-and-mortar spaces that are fully powered by solar energy. In doing so, companies are successful in minimizing harmful energy use, while simultaneously catering to the concerns of the eco consumer.
Insight - Many consumers—especially Millennials and Gen Z—are conscious about the state of the environment, and the threat of pollution and climate change. As such, individuals are continuously emphasizing the importance of sustainable decisions and are taking it upon themselves to hold brands accountable. Through this activism, consumers are experiencing peace of mind for taking care of the environment, and as a result, are drawn to brands that reflect similar values.
Insight - Many consumers—especially Millennials and Gen Z—are conscious about the state of the environment, and the threat of pollution and climate change. As such, individuals are continuously emphasizing the importance of sustainable decisions and are taking it upon themselves to hold brands accountable. Through this activism, consumers are experiencing peace of mind for taking care of the environment, and as a result, are drawn to brands that reflect similar values.
Workshop Question - How can your brand better cater to the eco consumer?
Trend Themes
1. Solar-powered Buildings - Retail, dining establishments, and even cannabis dispensaries are turning to solar-powered buildings to minimize energy use and appeal to the eco-conscious consumer.
2. Immersive Brand Experiences - Luxury car showrooms and brand-flagship stores are using audio, visual, and virtual reality experiences to provide consumers with an immersive way of experiencing products.
3. Biomimicry Technology - Designers are turning to nature to create environmentally conscious retail spaces, such as the tree-inspired shopping center in Shanghai that uses a canopy of solar panels.
Industry Implications
1. Retail and Dining - The trend towards eco-friendly, sustainable, and solar-powered buildings is a disruptive innovation opportunity for retail and dining establishments to attract the eco-conscious consumer and decrease their carbon footprint.
2. Luxury Cars and Beauty Products - Luxury car showrooms and sustainable beauty stores can use immersive brand experiences to differentiate themselves from competitors and appeal to their target audience.
3. Cannabis Dispensaries - Cannabis companies can disrupt the industry by adopting sustainable and solar-powered buildings to appeal to the eco-conscious consumer and reduce their carbon footprint.
