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FuturistU > Business > New Business Models > Module 3 / 4

New Business Models and Simplicity

Instructor: Mary Van Puymbroeck
Convenience Culture
Download the Convenience Culture Trend Report
In a world where nearly any product or service is available in an instant, on-demand services hold the upper hand over more traditional business models.
The rise of on-demand services speaks to a growing expectation for access and convenience. This module aims to explore current expressions of the Instant Economy through the lens of our Megatrend, Simplicity.

The Instant Economy is one where access to goods, products and services are delivered just as quickly as a need is identified. With more consumers leaning into and developing an appetite for instant gratification, what are the key expressions and implications of this for your business?
Related Trend Report: Convenience Culture
Workshop Questions:
1. How could you delivery a luxury experience without compromising convenience?
2. When was the last time you experimented with how to delivery your product, and what's changed since?
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Featured Insights

Contact-Less Vending
The traditional vending machine adopts smartphone payment systems
Trend - The convenience of vending machines is being enhanced by brands with the incorporation of contact-less payment systems that can be made through smartphones. This shift comes as this form of retail adapts to meet the demands of consumers’ rituals, with streamlined day-to-day transactions now being the norm.
Workshop Question - How could your brand effectively streamline the purchase journey for its customers?
5.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Everyday Rental
Brands begin to offer everyday items like clothing and home textiles for rent
Trend - Consumers today are increasingly thoughtful with how they spend, leading many companies--especially those whose products are used infrequently--to offer rental options in lieu of expensive purchase items. Brands that sell products used on an everyday basis, like home decor and casual fashion, are pivoting to offer a rental model as well.
Workshop Question - How will consumers' rising expectations when it comes to value and convenience impact your brand?
5.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends

Insights by Trend Hunter AI

Phygital Retail
Brands merge physical and digital worlds in retail spaces
Trend - Though digital elements in retail spaces aren't new, brands are now designing "phygital" in-store experiences from the ground-up. These stores offer a blend of experiences--the interaction of in-person retail, the convenience of e-commerce, and the novelty that's associated with tech-forward retail experiences.
Workshop Question - What kind of customer-focused experiences can your brand create?
7.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Accessible Micromobility
Public micromobility services are prioritizing accessibility
Trend - Public and private micromobility services in cities are already seen as accessible transportation options, and these services are now expanding their accessibility features with options that include everything from disability-friendly scooter designs to affordable pass-based rentals.
Workshop Question - How could your brand better meet demands for inclusion and accessibility?
4.6
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?
5.6
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Eco Organization
Apps help consumers prioritize eco-conscious fashion choices
Trend - With the fahion industry being an enormous contributor to worldwide pollution, some brands are releasing apps that help users make better choices when it comes to buying, repairing and generally extending the life cycles of their wardrobes.
Workshop Question - How is your brand prioritizing sustainability?
6.7
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Affordable Milestone
Traditional milestones are made accessible for the post-pandemic Millennial
Trend - Conventional adult milestones, such as buying a home or having children, are more difficult for the Millennial generation to achieve than ever due to the financial situation post-pandemic. Apps and services that make these milestones more accessible provide consolation and compromise.
Workshop Question - How can you better assist your Millennial customer in achieving their goals?
5.3
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
Contactless Airport
Both necessary and recreational processes at airports are becoming contactless
Trend - Contactless airport systems are on the rise as airports around the world continue their heightened safety efforts in light of the ongoing pandemic. These contactless systems are occurring in everything from agent interactions to in-airport food deliveries.
Workshop Question - How is your brand prioritizing safety in the long-term amidst the ongoing pandemic?
4.3
Score
Popularity
Activity
Freshness
Patterns
Megatrends
Cosmetic Deliveries
Cosmetic brands are prioritizing fast and easy deliveries for customers
Trend - Brands in the cosmetic space are partnering up with--or creating their own--delivery services in order to appease customers and deliver online orders quickly and efficiently. These services include everything from same-day deliveries to dessert and makeup pairings.
Workshop Question - How could your brand elevate its online purchase journey?
5.2
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