The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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How we buy goods and services is constantly in flux as economic and technological realities evolve. Today’s consumers shop across multiple platforms and merchants must be prepared to engage anytime and anywhere. The ideal customer journey weaves a brand into the entire experience, providing value before, during and after the purchase. This report provides a framework for understanding Shopping Reinvented and highlights successful strategies across a range of industries, countries and companies.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Economic and technological shifts have rewritten the shopper journey. Consumers increasingly expect to extract value from the brand not only from the transaction, but before and after their purchase. Companies that are providing shoppers with this value are changing expectations and creating new norms.
While many shop according to what their wallet allows, there are an increasing number of ways to provide value beyond price. Tapping into this via execution of the new Shopping Reinvented trends is a good way for brands and merchants alike to differentiate themselves.
The store-based philosophy of “stack it high and watch it fly” is no longer enough to drive sales. Stores can no longer be treated like self-service warehouses. Instead they must be thought of as engagement centres that help brands sell shoppers on how they fit into their current lifestyle.
The retailing environment is constantly in flux. In the information age, technology has accelerated the rate at which preferences are communicated, allowing for more constant change and realignment with what is popular at any given time.
For merchants, executing reinvention alongside shoppers is extremely difficult. Those involved in this transition need not tackle every trend at once. Change happens over time, which means companies need only embrace and deliver on a sub-trend or two at first. It is best to execute properly in one area and move to another, as an inferior implementation may ultimately harm the brand.
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More About the Megatrends Series
Our new Megatrends report series highlights the eight most influential megatrends to watch for both 2017. Euromonitor International’s global research teams continually monitor the consumer, industry and economic trends shaping world markets.
Our expertise, combined the latest techniques in re-examining the tens of millions of data points in our Passport database, allows us to be uniquely positioned to provide a holistic approach to common drivers that have the power to transform and disrupt entire categories in the next five years.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
This industry report originates from Passport, for more information click here.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.