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FuturistU > Retail > How to be Retail Resilient > Module 1 / 4

Intro to How to be Retail Resilient

Instructor: Ady Floyd
In this module, Trend Hunter's VP of Client Success, Ady Floyd, explores the fast-paced world of retail shifts and how so many retailers remained resilient against the abrupt changes brought on by the COVID-19 pandemic. Retail as an industry has the power to change, grow and adapt, and it will never die - retail is necessary. What kinds of disruptions took place both online and offline, in the world of retail and what do you need to know to stay ahead?
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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
Solar-Powered Retail
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.
Workshop Question - How can your brand better cater to the eco consumer?
6.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Airport Retail
Airport retailers are turning to digital solutions to adapt to COVID-19 rules
Trend - With businesses continuing to adapt to the changes that COVID-19 has brought on, airport retailers are turning to digital solutions that allow people to shop in a way that's safe. These solutions include everything from in-airport food deliveries to augmented product sampling.
Workshop Question - How is your brand going to continue prioritizing customer or employee safety?
6.5
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
Entrepreneurial Push
More individuals are embarking on the path of entrepreneuriship amid COVID-19
Trend - Businesses are launching campaigns and resources that are meant to support individuals who are interested in becoming entrepreneurs during the COVID-19 pandemic. These activations offer important information and coaching for starting one's own business.
Workshop Question - How might your brand support budding entrepreneurs?
5.4
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