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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

Rewarded Sustainability
Brands and institutions create reward programs for eco-friendly habits
Trend - Businesses and institutions are increasingly incentivizing sustainable consumer habits with programs that reward them when they make eco-conscious decisions. These programs are linked to everything from recycling to shopping.
Workshop Question - How could your brand make sustainable consumption easier for its customers?
6.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Ethical Search
Ethical search engines help consumers streamline conscientious purchases
Trend - As consumers become more conscious of the impact of their purchases, search engines that search for products that are made sustainably, or from brands that align with their personal values, are becoming more popular.
Workshop Question - How could your brand make conscientious shopping easier for its customers?
5.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
AI Travel
AI-based travel-planning apps take some of the work out of traveling
Trend - Smart-planning apps for travelers are becoming more popular, particularly as pandemic-prompted travel restrictions have lifted. Now, consumers are able to create customized itineraries with the help of AI-based apps that give users a better idea of local offerings and geographies.
Workshop Question - How could your brand better prioritize convenience for its customers?
7.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
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?
6.7
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?
7.1
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Keto Soda
Sodas and seltzers are made with low or alternative sugars
Trend - The low-carb keto diet is still popular, and now beverage brands that offer sodas and seltzers are adopting the diet into their product. Beverages with low or alternative sugars are becoming more common as seltzers continue their popularity.
Workshop Question - How could your brand add more value to its existing products?
4.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Bot
Retail-based robots now have more social features and functions
Trend - Retail bots are no longer only designed to offer assistance in-store--they're now also dealing with some of the social interactions associated with brick and mortar shopping. These bots are designed to foster good will and do everything from greeting customers to bringing them snacks.
Workshop Question - How is your brand ensuring its customers are engaged throughout the purchase journey?
6.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Reflective Display
Connected mirrors help retailers personalize the shopping journey
Trend - As brick and mortar stores compete with ecommerce, businesses are taking cues from the virtual world with tech-enhanced shopping experiences. This now includes connected mirrors being displayed in-store that allow customers to personalize their shopping journey.
Workshop Question - How could your brand better prioritize customer experience with technology?
7.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Gesture Kiosk
Gesture-controlled interfaces use hand-tracking technology to reduce health risks
Trend - Retail and entertainment industries are opting for gesture-controlled kiosk interfaces to enhance the user experience without contact-related health and safety risks. Hand-tracking technology registers the user's movement to allow touchless screen navigations.
Workshop Question - How will your brand continue to adapt to consumers' pandemic-induced lifestyle changes?
6.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Retail Finance
Banking apps are including online retail features and functions
Trend - Banking apps are becoming increasingly functional, now with extended features that allow people to shop (or sell) within the apps. These features help customers consolidate some of their lifestyle habits, merging banking and shopping to create simpler online experiences.
Workshop Question - How is your brand prioritizing convenience for its customer base?
4.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends