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FuturistU > Retail > Omnichannel Retail > Module 1 / 5

Intro to Omnichannel

Instructor: Ady Floyd
Omnichannel Retail
Download the Omnichannel Retail Trend Report
In this module, Trend Hunter's Director of Client Success, Ady Floyd, takes an in-depth look at what omnichannel retail truly is and what trends are shaping the way consumers shop. In order to understand the future of retail, forget what you think you know about siloed, multi-channel approaches, and accept that omnichannel – the creation of seamlessly interchangeable platforms across all entities – is the foundation for successful retailers. To uncover the best business models and tactics that resonate with consumers, Ady uses 4 of Trend Hunter's 18 Megatrends to provide invaluable research that will help brands create the future of retail.

In this module, there are 4 key learning focuses that uncover the foundation of omnichannel retail. First, at the core of omnichannel is the Megatrend Hybridization: combining online and offline platforms. Beyond that, brands need to better understand how to prioritize personalization for each customer and create unparalleled experiences. The final piece of the puzzle is entrenched in technological tools and AI functions that can aid necessary strategies, and improve the overall path to purchase.
Related Trend Report: Omnichannel Retail
Access Advisory Services

Insights by Trend Hunter AI

Customized Makeup
Cosmetic brands make customized formulas and tools more accessible
Trend - Some brands are making personalization in beauty more accessible with formulas and tools that can be customized to consumers' color or application preferences. These customizable formulas are easy to access and more affordable than personalized beauty typically allows.
Workshop Question - How could your brand add an element of customization into its product/service?
6.2
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?
8.4
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?
6.9
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?
7.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
In-Store Refill
In-store refill stations for personal care brands are becoming more popular
Trend - With more personal care businesses marketing their brands' "refillable product" business models, some brands are making the process of refilling products much easier with in-store refill stations that cut out the need to mail back empty packaging before receiving refills.
Workshop Question - How is your brand prioritizing sustainability?
6.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Virtual Changing
Virtual fitting rooms are growing in popularity amidst the pandemic
Trend - Virtual fitting rooms are becoming an increasingly popular alternative to in-person fitting rooms, particularly as the ongoing pandemic has put restrictions on in-person shopping. Now, consumers are able to see how clothing may look on them without having to worry about hygiene or being inconvenienced.
Workshop Question - What long-term pandemic-related changes could your brand better adapt to?
6.8
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Virtual Lab
Virtual innovation labs let consumers test and design products remotely
Trend - Pre-pandemic, brands in a range of industries experimented with innovation labs where they could display and test their most innovative products and ideas with consumers. Now, they're doing the same but virtually--as retailers remain restricted with how they curate in-store experiences.
Workshop Question - How could your brand create distinct virtual experiences for customers?
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?
5.9
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Refined Returns
Brands are making it easier for consumers to return items amid COVID-19
Trend - The COVID-19 pandemic has fueled a surge in online sales, prompting an increase in online return needs. To accommodate this emerging need, many brands are leveraging strategic partnerships to enable streamlined return solutions that include return shopping lockers, at-home return pickup options, and multi-brand return centers.
Workshop Question - How can your brand anticipate consumer barriers to purchasing amid fluctuating shopping restrictions?
3.6
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?
4.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends