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FuturistU > Retail > Rewriting the Rules of Retail > Module 1 / 4

Intro to Consumer Centric Retail

Instructor: Ady Floyd
Rewriting the Rules of Retail
Download the Rewriting the Rules of Retail Trend Report
In this module, Trend Hunter's Director of Client Success Ady Floyd discusses what the future of retail looks like by examining consumer desires and preferences. In order to determine where retail is headed over the next 1, 5, or even 10 years it's important to assess what today's consumers want and need from their retailers. To create a better path to purchase for tomorrow's consumers, we must start by looking at consumers today.

This module is rooted in 3 of Trend Hunter's 18 Megatrends: Naturality, Curation and Artificial Intelligence. Throughout the session, you will gain insights and trends about the future of retail that will showcase what you can do today, in order to obtain tomorrow's consumer.
Related Trend Report: Rewriting the Rules of Retail
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Insights by Trend Hunter AI

Local Retail
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.
Workshop Question - How could your brand help support its local economy?
8.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Autonomous Hub
Unstaffed retailers are popping up in densely populated areas
Trend - Retail hubs like hotels, offices and malls are increasingly featuring unstaffed stores in order to speed up consumers' shopping times. These stores allow for smart detection and automatic charges for products that consumers purchase.
Workshop Question - How could your brand better prioritize convenience within its purchase journey?
8.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
IoT Retail
Platforms that monitor, gather data and form insights enhance retail experiences
Trend - IoT platforms are being used to determine the best options for a range of retail processes and issues. These connected solutions help brands do everything from ensuring that COVID-19 safety standards are being met to enhancing digital experiences for customers.
Workshop Question - How is your brand prioritizing in-person shopping experiences?
7.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Experimental Display
Tech-based retail displays offer interaction with specific products
Trend - Interactive tech-based displayed are increasingly common as brands look for unique ways to draw in customers. These interactive displays include everything from miniature smart home setups in-store to educational makeup displays.
Workshop Question - What creative retail display solutions is your brand prioritizing?
7.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
One-to-One Retail
Stores serve one customer at a time to give safe, ultra-custom experiences
Trend - The retail industry has seen a lot of transformation in light of the pandemic. One recent development is the growth of storefronts or services dedicated to limiting the shopping experience to two people: the retail worker and the customer. This is being executed virtually as well as in person and has the benefits of both safety and full personalization.
Workshop Question - How will you satisfy the opposing consumer need for experience and safety in the new normal?
4.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Shopping Locker
Contactless lockers enhance the safety of shopping experiences
Trend - Lockers in the retail industry are being rolled out as businesses look for ways to keep both customers and employees safe amidst the ongoing pandemic. Everything from food pickup to in-store returns are now being exchanged via lockers to reduce instances of person-to-person contact.
Workshop Question - How is your brand prioritizing safety as it conducts its day-to-day business?
6.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Sample Safety
Beauty packaging for in-store samples is adapting to alleviate COVID-19 concerns
Trend - Retail spaces are reimagining the shopping experience with reference to COVID-19 safety guidelines. In the beauty space, brands are launching innovative sampling solutions that will allow consumers to test out a product in a hygienic and safe manner.
Workshop Question - How might your brand adapt its strategy to answer concerns for safety and hygiene?
6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Experiential Addition
Retail brands make the store a destination post-Pandemic
Trend - Still betting on the experience economy, brands are launching retail initiatives that are seemingly unrelated to their products or services. These are solely designed to provide such a high level of surprise and delight to override concern for visiting public spaces. These activations are created with COVID-19 safety and hygiene guidelines in mind, yet also draw over-the-top inspiration from adjacent industries.
Workshop Question - Conceptualize an experience that will fit into the COVID-19 climate.
6.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Curbside Consuming
Consumers are opting to buy online and pickup in-store
Trend - Amid the COVID-19 pandemic, curbside pickup became the standard way for shoppers to access goods without possible contamination. As the economy slowly re-opens, consumers are still leveraging this shopping option in lieu of browsing in-store or strictly online shopping.
Workshop Question - How can your brand leverage evolving shopping habits post-COVID?
3.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
3d Shopping
3d virtual shopping platforms aim to elevate the purchase journey
Trend - 3d visuals on e-commerce platforms are increasingly popular as consumers seek out more immersive forms of virtual retail. These aesthetics have the benefit of showing customers the products in a more realistic and all-encompassing way.
Workshop Question - How is your brand enhancing its virtual shopping experience for customers?
7.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends