Member Exclusive: Latest Trend Hunter Report Explores Retail Innovation
August 10, 2023 | Toy Association members can now access a complimentary new Trend Hunter report that explores emerging trends in retail, including e-commerce innovation, alternate in-store experiences, and more.
Some of the key trends and examples highlighted in this report include:
- Accessibility & Convenience: Retailers are prioritizing accessibility and convenience for different consumer demographics such as elderly shoppers, neurodiverse individuals, and those who prefer relaxed shopping experiences. Initiatives include in-store assistance, accessible environments, senior-specific shopping zones, and mindful shopping experiences. For example, Walgreens’ Seniors Day is a monthly day for seniors that provides a safe, accessible, and supportive space for shoppers, plus discounts on eligible regular-priced merchandise.
- Autonomous Hubs: Retail hubs like hotels, offices, and malls are increasingly featuring unstaffed stores and kiosks in order to speed up consumers' shopping times. These stores allow for smart detection and automatic charges for products that consumers purchase. Wundermart is a startup that allows shoppers to quickly browse and grab retail items, and scan and pay for them at a self-checkout kiosk. In addition, the company's software tracks every purchase, providing owners with useful inventory and sales data.
- Livestream Shopping: Shoppable video content and ads are becoming increasingly prominent digital strategies among brands across industries. This content merges traditional ads with modern tech habits, offering customers more engaging and convenient forms of online shopping. YouTube announced that it is currently developing shopping features that will make it easier for users to buy from brands directly through the platform.
- Local Retail: Companies are incorporating elements of local products or materials in their stores to support local economies and build trust with consumers who want to contribute to their communities. Social e-commerce platforms are emphasizing community-centric interfaces and magnifying the voices of independent brands.
This report is the latest in a series from Trend Hunter that is exclusive to Toy Association members. These reports offer in-depth perspectives and trends in various areas related to the toy industry and youth markets to help spark unique ideas. For additional relevant trends, members can click on the report’s consumer insights examples, scroll down, and click the images for further information.
TrendHunter.com has accumulated nearly 3 billion views from more than 100 million visitors. The data research company helps clients “Dive Deeper,” “Work Smarter,” and “Save Effort” in order to increase the overall success of their companies and brands.