-- SUMMARY
WiseGuyReports published new report, titled “Trend Sights Analysis: Next-Generation Shopping”
"Trend Sights Analysis: Next-Generation Shopping" explores the new and emerging concept of next-generation shopping in the FMCG industry, explaining what it is and asking why it is important. The report also considers the various actors involved and the impact of the trend on consumers, retailers, and supply chains. The conclusions reached are underpinned by unique blend of proprietary consumer insight and innovation knowledge.
The consumer desire for convenience has driven rapid technological change in the FMCG retail space, where self-service checkout systems and contactless payment technology provide consumers with a "seamless" shopping experience. The search for immersive consumption experiences, however, threatens to disrupt the primacy of convenience by challenging bricks-and-mortar retailers to create tangible in-store experiences for consumers to enjoy.
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Companies mentioned
Sephora
Fitbit
Amazon
Amazon Go
Carlo Ratti Associati
Chop Chop
Target
Hiku
Sainsbury's
UberEATS
Consumer desire for immersive consumption experiences undermines the primacy of convenience, and is driving change in the Next-Generation Shopping trend
The consumer desire for convenience has driven rapid technological change in the FMCG retail space, where self-service checkout systems and contactless payment technology provide consumers with a "seamless" shopping experience. The search for immersive consumption experiences, however, threatens to disrupt the primacy of convenience by challenging bricks-and-mortar retailers to create tangible in-store experiences for consumers to enjoy. Convenience is a basic expectation, and retailers must embrace the latest digital technology in an overhaul of existing store formats, thereby ensuring the continued relevance of bricks-and-mortar retailers in the digital age.
Trend drivers:
• Digital lifestyles are leading consumers to seek tangible, physical experiences.
• Consumers’ research food purchases in-store – technology can enhance this.
• Bricks-and-mortar stores must differentiate themselves from online retailers.
Innovation implications:
The latest in-store digital technology promises to radically alter the role of bricks-and-mortar stores in the modern FMCG retail landscape. Facial recognition technology and sensors will enhance product personalization, while smart labels and overhead screens will educate consumers on the origin, nutritional value, and production history of a particular product. Fully integrated omni-channel experiences will maximize online-offline moments* at every touchpoint, and empower consumers to make informed purchasing decisions. New store formats will create a more enjoyable and engaging experience for consumers.
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