This report is an update on how the faster shopping trend, identified in Euromonitor’s Top 10 Global Consumer Trends for 2017, is progressing. It looks at how more product and service brands - from giant etailers like Amazon to smaller start-ups - are responding to the consumer demand for faster consumption in areas like food and fashion, and are keen to utilise innovative technology to facilitate speedier and more convenient buying and delivery options for existing and potential customers.
The trend seeing consumer interest in faster shopping opportunities means that brands and retailers will have to satisfy increasingly impatient urban consumers whom the digital world has schooled into becoming impulsive shoppers after immediate gratification.
This trend will drive faster delivery options and greater use by brands of so-called beacon technology, which retailers can use to alert consumers nearby via apps on their smart phones about special offers or new products.
Speeded-up business models also mean a faster response to trends in terms of what brands offer. In the fashion world, this consumer impatience has turned the traditional ‘preview’ system of designer fashion collections on its head with “hot off the runway” offers available to customers immediately.
Faster convenience also opens up opportunities for delivery of fresh food ingredients and ready-meals.
The popularity of subscription services seems set to grow as they meet faster shopping needs.
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