...The New Retail Trends Immersive Technology: In today’s marketplace, it is getting harder and harder to stand out from the competition especially that customers today have so many products to choose from and so many ways to buy. Factors like price and service surely help attract customers, but to truly differentiate themselves from competition, retailers need to nurture customer advocacy, so that when shoppers want to make a purchase decision, they think first about the retailer’s store brand rather than the list of products. In response, retailers are investing more and more in the creation of truly immersive shopping experiences that allow them to connect with shoppers on an emotional level through customized shopper marketing strategies. To involve the customer has therefore become the purpose of design and merchandising in the new retail environment Given customer expectations, retailers that can connect with customers through experiences that are personally relevant, memorable, interactive and emotional are more likely to increase sales and brand loyalty. These experiences also benefit retailers by helping them to: - Stay relevant through greater shopper engagement - Create new opportunities to appeal to customers’ lifestyle choices and stand out from competition. - Enhance flexibility to respond to changing customer caprice and competitive threats. Inspirations from other retail industries 3- PRADA STORE NEW YORK: Prada Epicenter of New York was provided...
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...Trends in retail 1. Omnichannel retailing Retailers will continue to realize that they need to connect to the customer through multiple channels simultaneously or interchangeably. In near future the retailer will provide the customer the ability to interact and complete the transaction on their own terms. In simple words if customers want to look at the product online, by on their phone and return it by dropping at the store, they would be able to do so in smooth and seamless way. Oasis a fashion retailer from UK has currently implemented this kind of system. 2. The mobile wallet The credit card and debit card won’t be out of use any time soon. But use of mobile internet is increasing day by day. With 3G-4G services emerging at an accelerated pace “mobile wallet” is going to get a huge chunk of payment market. As people tend to carry as less thing with them as possible the mobile wallet will be the one replacing the different payment method people uses at the retail stores(both online & offline). Google wallet, Paypal is few of the service which provides the mobile wallet. 3. More personalized in store experience Retailers will be implementing the solutions to create more personalized in store experience. Ecommerce sites has been doing this for years by tailored landing pages, retailers will also be bringing more and more technologies in the store to address to each and every customer in any place in store. Technologies like iBeacon, Estimote...
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...The New Retail Trends Immersive Technology: In today’s marketplace, it is getting harder and harder to stand out from the competition especially that customers today have so many products to choose from and so many ways to buy. Factors like price and service surely help attract customers, but to truly differentiate themselves from competition, retailers need to nurture customer advocacy, so that when shoppers want to make a purchase decision, they think first about the retailer’s store brand rather than the list of products. In response, retailers are investing more and more in the creation of truly immersive shopping experiences that allow them to connect with shoppers on an emotional level through customized shopper marketing strategies. To involve the customer has therefore become the purpose of design and merchandising in the new retail environment Given customer expectations, retailers that can connect with customers through experiences that are personally relevant, memorable, interactive and emotional are more likely to increase sales and brand loyalty. These experiences also benefit retailers by helping them to: - Stay relevant through greater shopper engagement - Create new opportunities to appeal to customers’ lifestyle choices and stand out from competition. - Enhance flexibility to respond to changing customer caprice and competitive threats. Inspirations from other retail industries 3- PRADA STORE NEW YORK: Prada Epicenter of New York was provided...
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...income of a consumer and technological developments are responsible for the changing retail formats. This change might take a decade or more (United States) but it can occur rapidly as well (Thailand).This paper has helped in understanding the factors that affect the retail landscape, historical stages of changes in retail in the developed markets, changing trends of retail sector in Pakistan, change in consumer’s lifestyle and demographics. At last it overviews the future of Pakistan’s retailing sector. Retail trend can be learnt in terms of the formats ranging from the traditional ones to the modern ones. Consumer’s changing lifestyle, growth in disposable income, and developing technology...
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...about different companies and must be done once you get the shortlists from these companies. 6. REMs – This folder contains all the documents used in the Niche placement preparation REMs. 7. Questions asked in summers – This folder contains questions that were asked by different companies in the previous years. We are updating the folder with feedback from as many Tuchhas as possible but it will not contain the entire spectrum of questions and should be used only to identify a trend. 8. Interesting links – This folder contains interesting links that we think are useful for you. We would keep updating the same during the course of your preparation. 9. Newsletters – This folder contains the Niche newsletters and articles that had been mailed to you previously. The division is not strict and simply aims to provide every one of you with a roadmap for preparation. This preparation is in addition to HR preparation that you all are expected to do. In addition, you are expected to know about the latest trends in marketing. In case of any doubt/suggestion or clarification, feel free to reach out to any Niche...
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...Trend Article Analysis University of Phoenix – MGT373 Jennifer Choy August 21, 2011 In this day and age there are millions of trends that are present in almost every industry. In order for an organization to be successful it is essential that they follow some of these trends so that their company appeals to people. This proves to be true for the event planning and convention industries. Two articles that pinpoint a couple different trends are “Nifty gadgets taking special events to a new level” and “ The article “Nifty gadgets taking special events to a new level” is a great example of trends within the planning and convention industries. In the years 2001-2004 these industries saw a huge decline in business. The reason for this was the failing economy. Companies and organizations could no longer fit events and gatherings into the budget. In 2005 event planning companies such as Dolce parties finally started to see an incline in corporate parties and events. However, these parties and events were at a much smaller scale. It was only the important people that were being invited to these gatherings because the budgets were still not back to where they were. Since the comeback of events was at a slow pace, event planners and convention industries decided to introduce some new gadgets to attract clientele. According to Stableford ( 2005)“Beyond the typical post-event surveys and evaluation of how many sales leads actually translate into qualified...
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...Future Trends Charmaine Saint Surin OI/466 June 6, 2016 Fred Greifenstein Future Trends According to Webster.com dictionary, a trend is usually known as something undergoing change or is developing into something or going into a general or specific direction. Innovation is about timing, but there is not a theory behind it. It includes processes and new ideas and then they are converted into new useful products. It creates value for customers who pay for it. Disruptive Innovation is an all-out risk taker, creating new markets with more practical approaches towards buyer's purchasing power. What we know is that innovation does not have an end, it's the fact that what we want and what we need continues to change. Innovation is not the goal but everything we do to get to that point. I think collaboration within innovation is an revolving trend. This is the concept of an open source. With the internet age, there are so many people connected worldwide, so there is the fact of collaboration. It creates alternatives for companies who which are smaller to have the ability to remain small and agile. If that is the choice, it also allows those less ended businesses to be a part of the larger agenda in innovation. Innovation is a connected function of communities. It seems like we are all trying to come up with new solutions that capture the technologies we encompass and maybe even working with alternatives reworking those technologies. An example of this is universities...
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...Statistics show that only 47% of consumers around the world say they trust paid media. (trendspotting.com) * Servile brands and citysumers are a more established trend as they are wanting something new, this type of consumer lives in a capital/or town where they are usually the first to try out new products and follow the latest trends. * Servile brands let the consumer try it out first, using ‘hands on’ e-tools which allows them to test run products, for example marks and Spencer’s where they allow consumers to try before they buy on the latest nail varnishes. * IKEA has an online application where the consumer can design their own kitchen. (www.ikea.com) * Citysumers capture the essence of the city and its heritage * Established market of consumers as they are within a city latest technology and trends are available there first, outsiders from cities will be delayed. Sub trend: Modern make it and mend * Citizen hacking -using faulty or discarded objects and turning them into functional pieces- economical- cities in debt. Urbanization: * “67% of urban consumers identify themselves with their city, almost as many as the 69% that identify themselves with their nation” (www.trendspotting.com) * Culture is reflected in style of the nation * App culture Future trends: * 2013- * ‘I made that’ :Product customization and combined high tech manufacturing New, networked models of product identification. * ‘Equalized’ - Consumers...
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...when this promotion is going to end either. This information is supported by my findings too. The majority of the men I interviewed did say that they could no longer afford to spend large amounts of money on individual garments. Instead they stressed that before £100+ jeans would not have bothered them, however now they would be looking to spend below this figure. [pic] I felt that it was extremely important that I explored any weaknesses the consumers felt were an issue too. The main problem was that men would like to have some coloured denim within the range rather than just the same denim washes they always have. It was obvious that many consumers felt that there was not a wide enough range in terms of styles that reflects current trends; instead the styles are just subtle changes across their product range. When analysing the primary research,...
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...a noun, “Fashion is a popular trend or the manner of doing something”. As a verb, it says “make into a particular or required form”. To me, fashion is a never ending cycle of various styles that people can express themselves through. It is a movement that allows individuals to show who they really are through clothes. Throughout the past 65 years, fashion evolved so much in so many different ways. I decided to take a look at those ways and to see how fashion has come about to what it is now and how some trends still remain the same until this day as a classic. The 60’s was the year that the television had a huge impact on what people were exposed to, such as fashion trends. It helped the youth stay in touch with what was...
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...restaurants have been opening one after another due to its popularity and success which entrepreneurs saw as an opportunity to open other famous ramen restaurants as it has become a trend. In SM Megamall as I walk inside the new Mega Fashion Hall crowded with people in the late night, I take the elevator to go up on the 3rd floor of the building where the well-known recently opened ramen restaurant called Ippudo Ramen is. The first sight that will appear before your eyes after the elevator doors open will be a crowd of people lining up for Ippudo. The wait is definitely worth it as the food there is extravagant and definitely food that you will come back with. In an interview from Shigemi Kawahara, he said that the reason people line up in Ipuddo might be “Because it’s delicious. We train our staff that every single bowl of ramen has to have a smile and maybe our customers can feel that. It’s very easy to serve a good bowl of ramen. Delicious ramen is everywhere, but what’s important to us is the quality, the service and the cleanliness” (Japan’s World-Famous Ramen House Opens in Manila). I have eaten their food and I would like to say that the food is divine with rich flavors that Filipinos will love and so far has been the best ramen restaurant in the Philippines in my opinion. The food trend started pretty recently in the Philippines as Filipinos are only beginning to appreciate...
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...Family of Woodstock, Inc. Paper India Larondos BSHS/355 August 24, 2015 Professor: T. Jones Family of Woodstock, Inc. Paper This paper will discuss the factors that led to the creation of Family of Woodstock. It will also discuss the changes that Family of Woodstock endured to meet the specialized needs of the community. To add, the paper will include the development and changes in values, attitudes, and beliefs over a 40-year period; and how these changes affected the way they deliver services. Lastly, this paper will explain how specializations became a trend across human services delivery, in general. Introduction In 1969 America’s youth was in search of utopia and found it at a music festival called Woodstock in Ulster County. Young people travelled from all over to partake in the Woodstock festival, nearly 400,000 young people came to attend the festival (Gibbons, 2010). However, after the music festival ended, people were stuck in that county which turned into a problem. Homelessness and drugs became a major problem, the young people slept on benches, camped out in parking lots, and searched for food and clothing (Gibbons, 2010). This also became a problem for the townspeople. The young people were getting in trouble with the law because of the drugs. One woman, Gail Varsi, recognized the problem and decided to do something. She first, gave police her home number and instructed them to call her whenever a homeless youth got in trouble. She then reached out to...
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...implement with regards to trending, they are; Scanning, Listening, and Forecasting. According to this author, the first strategy, scanning, is to identify the different media outlets, cultural developments and various brands to further investigate how other brands are performing in the market. This will provide insight as to the consumers view and trends toward current brands. The second strategy is listening, which focuses more on social media, and which communities are leading the discussions, and why. Social media gets you in touch with your customers, drives business to your websites, and opens the door to engage customer communications and so much more. If you’re not on social media, than you’re missing a huge opportunity to grow your business and get in touch with how your customers feel about various brands. The third strategy is forecasting. Forecasting is all about researching firms that trend for a living, such as Cassandra Daily and PSFK. (White., S. 2012) This can help you identify key movements in the market and possible opportunities to help you grow your business. By understanding what market trends affect your business, you could identify changes that could positively or negatively affect your business, such as online social media factors, brand awareness, and sudden changes in the economy that may directly affect consumer opinion toward spending. I chose the lodging icon, Airbnb, with its company slogan “Belong Anywhere”. Airbnb was started...
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...Principles of Entr3preneurship Business Trends ERIC KING AI logo © 2013 by Eric King According to Tim-Graw (2012), the social trend is evident throughout the world with more networking events and opportunities occurring weekly. Social trend involves top social networking platforms such as Facebook, MySpace, and other Internet networking sites. The list continues further with the creation of music apps, Spotify, Pandora, and these other networking sites will impact the industry by providing opportunity for growth. Whenever a new social media tool is created, a new opportunity is as well. New opportunity means an increase in jobs, expanding the pool of success to Full Sail graduates and other industry driven people. This trend will also be impactful to the industry by recognizing what’s new and hot on the market! New applications are being formed from web 2.0 tools allowing for users to run businesses with just one click away. It is important that we monitor this trend to see what exactly are the people are following. You have to know your target audiences wants and needs in order to satisfy them and become successful. One example of a business monetizing from social trend is Rick Ross’s, Untouchable MayBach Music Group also known as MMG. “Maybach Music Group has climbed to the forefront of mainstream rap” (BET, 2013). In order to be great in this music industry, you have to be able to keep up with the trends of it. Though Rick Ross has a catalogue of 4 popular mainstream...
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...Berndt, A. & du Plessis, J.P., 2012. Applied Strategic Marketing. 4th ed. Heinemann. or the old edition Du Plessis, J.P., Jooste, C.J. & Strydom, W.J., 2009. Applied Strategic Marketing. 3rd ed. Heinemann. QUESTION 1 This question reflects on the analyses of the macro environment. (Jooste et al., 2012, Chapter 2; or Du Plessis et al., 2009, Chapter 2). The students have to identify FIVE trends in the macro environment that impact on micro breweries. A trend is something that changes in the macro environment, for example: Rise in disposable income Customers search for value for money Rise of black middle class Rise of social media Rising costs. Environment protection/‘green industry’ Changing lifestyles Changing role of women New legislation Consumer Protection Act Changing needs of consumers. Each trend has to be discussed briefly and the student has to indicate what the impact and influence of the trend on the micro breweries industry are. Mark allocation: Definition of trend (1 mark) Impact of trend (2 marks) Implications for marketing of micro breweries (3 marks) 5 trends x 6 marks = 30 marks. Marking Memorandum: 2nd Semester 2012 © IMM Graduate School of Marketing M2/MAR202 [30] Page 2 of 2 NOTE: It is not possible to provide model answers. The students have total freedom to formulate their answers. QUESTION 2 2.1 [30] (See Jooste et al., 2012, pp.123-127; Du Plessis et al., 2009, pp.130-132.) Students can reflect on: Direct versus indirect...
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