By 2040, physical stores as we know them will completely change. The shift towards e-commerce is forcing retailers and brands to rethink the purpose and use of stores. From drones to robotics, you'll get a glimpse into the technologies that will inspire the future retail environment.
Buy Now, Pay Later (BNPL) has been one of the most discussed trends in the payments industry in recent years. Despite not being a completely new phenomenon, fintech players have made the process and offer – interest-free instalment payments over a set period, available for large and small-ticket items – highly appealing to customers. However, in Europe, the ever-evolving BNPL space is yet to see an expansion beyond the retail segment and consumer use.
Metaverse, or the highly interactive three-dimensional virtual world, has emerged as a hype of 2021-2022. As the metaverse explodes to a multi-trillion-dollar-worth opportunity in the next 5 to 10 years, early comers will be the ones to reap the benefits. This podcast presents the top ways to benefit from this transformation.
Every year, Euromonitor International identifies emerging and fast-moving global trends that are expected to gain traction in the year ahead. These trends provide insight into changing consumer values, exploring how consumer behaviour is shifting. This year, we did a spin off research, asking more than 100 analysts from Eastern Europe to cast their votes and determine what trends will be significant in the region.
While the COVID-19 pandemic has driven many shifts given its long-standing impact on consumers and markets, an unstable global geopolitical environment continues to challenge both global and regional business environments. With rising inflation and looming recession, businesses are already feeling the impact of many factors. However, supply chain disruption and inflation are only evident outcomes of underlying systemic changes. This article will bring into perspective the need to have contextual frameworking and highlight the focus on innovation as a strategic priority.
The role of the store has been challenged by consumers in both the physical and digital space, becoming destinations for discovery, inspiration, and experiences. Convenience, premiumisation and experience more are central to purchasing decisions for Generation Z and Millennials, with their willingness to browse in stores without immediate purchases and focus on spending that aligns with their values and needs most.
To stay ahead of changing consumer priorities and values, companies must embrace megatrend analysis. To do this effectively, it is important to recognise the full picture, starting with having a clear understanding of the underlying forces (the drivers) which form the backdrop to consumer behaviour.