trendwatching.com's retail retold
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From retail on the move, to self-improvement, to social value and more, RETAIL RETOLD is about five retail concepts that take aim at some of Latin American consumers’ deepest wants and needs. In the process, they reimagine the retail story for 2014.TRANSCRIPT
RETAIL RETOLDWhy consumers are embracing these five ways to retell the retail story.
SOUTH & CENTRAL AMERICA TREND BULLETIN
MAY 2014
One consequence of a world in which (almost) every place and every moment is shoppable?
That’s why South and Central American
consumers are embracing physical retail spaces
that deliver more: more than just a seamless
transaction, more than good value, more than
‘great customer service’ even.
From retail on the move, to self-improvement,
to social value and more, RETAIL RETOLD is
about five retail concepts that take aim at some
of consumers’ deepest wants and needs. In the
process, they reimagine the retail story for 2014.
Physical retail spaces increasingly seem a less exciting, less transparent, less choice-rich option.
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Five new RETAIL RETOLD stories for 2014 and beyond:
The go-to option.
Part of the (retail) journey.
Selling a message.
The boundaries between offline and
online disappear.
Don’t preach, teach.
1. MOVING MERCHANTS
2. OK COMMUTER
4. SOCIAL STORES
3. OFF=ON=OFF
5. EDU-COMMERCE
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RETAIL RETOLD
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Now that ultra-busy urbanites can order online and
accept delivery in a day or two, their motivation to
travel to a specific store has fallen to near zero.
One consequence? Smart brands are finding new
ways to unchain themselves from fixed locations
and hunt out consumers where they are.
The go-to option.
1. MOVING MERCHANTS
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In 2013, 19% of Mexicans ate at a food truck at least once.
(AGENCY DE LA RIVA GROUP, NOVEMBER 2013)
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1. FEATURED INNOVATIONS: MOVING MERCHANTS
BotánicusRefurbished truck sells flowers around Bogotá
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1. FEATURED INNOVATIONS: MOVING MERCHANTS
Nail DeliveryManicure service comes to homes & offices in Brazil
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Listen up (think social media) and consumers will tell you where they are – and where they want you to be. Go there!
NEXT
1. MOVING MERCHANTS
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In the bustling cities of South & Central America,
residents are constantly on the go (check out our
previous Trend Bulletin METRO MOBILITY, for
more on this!). What’s more, these time-pressed
consumers are determined to extract maximum
value from the minutes they spend traveling.
Consumers are already shopping on their
smartphones and browsing e-tail displays on train
platforms. Now, they’ll embrace forward-looking
brands that create unexpected combinations of
transport and retail, and help them eradicate any
remaining ‘dead time’ from their day.
Part of the (retail) journey.
2. OK COMMUTER
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Inhabitants of São Paulo, Mexico City, Buenos Aires, Bogotá and Lima face a typical
commute time of 1 hour and 28 minutes.(MEGACITIES & INFRASTRUCTURE IN LATIN AMERICA - INTER-AMERICAN DEVELOPMENT BANK, MARCH 2014)
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2. FEATURED INNOVATIONS: OK COMMUTER
Los PaleterosMexican paletas via drive-thru
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2. FEATURED INNOVATIONS: OK COMMUTER
Beauty BazarBeauty in Brazilian subways
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Urban mobility is changing across the continent. How can you devise new points-of-sale that capture the attention of consumers in cars, on trains, riding trams, and more?
NEXT
2. OK COMMUTER
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Consumers conditioned by the smartphone age
now expect retail platforms to deliver the best of
both worlds: the sociability and hands-on customer
service of physical, and the convenience and cost
benefits of e-tail.
This expectation will only intensify as the reach
of broadband and 3G improves: allowing both for
faster online experiences, and better integration of
digital into physical spaces.
Smartphone-toting consumers have rendered the boundaries between offline and online near invisible.
3. OFF=ON=OFF
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Online retail revenues in Brazil, Argentina and Mexico will more than double from USD 20 billion
in 2013 to USD 47 billion in 2018.(FORRESTER, DECEMBER 2013)
2013
2018
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3. FEATURED INNOVATIONS: OFF=ON=OFF
iLoveMallE-commerce ‘mall’ mimics physical shopping experience in Brazil
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3. FEATURED INNOVATIONS: OFF=ON=OFF
Sodimac: Lector de CatálogosApp provides augmented reality renderings of Chilean catalog’s products
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3. FEATURED INNOVATIONS: OFF=ON=OFF
Leica & ArcoCamera purchasable for Brazilians via Instagram
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3. FEATURED INNOVATIONS: OFF=ON=OFF
Sonae SierraShopping malls use WhatsApp as customer service channel
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The blurring of online and offline is ongoing. Can you utilize wearable technology to make any remaining boundaries invisible and harness the best of both worlds?
NEXT
3. OFF=ON=OFF
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Consumers are busy taking full advantage of the
borderless online space, but this doesn’t mean that
place – local concerns, traditions, communities
and cultures – is forgotten.
Indeed, for many consumers, LOCAL LOVE is even
more important than ever as a means to assert
their own identities and mindsets amid the global
village. That means consumers will direct love,
attention and respect to retailers who engage in
local social and environmental issues, and drive
positive change.
Selling a message.
4. SOCIAL STORES
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95% of Mexican prosumers (highly knowledgeable, demanding, influential consumers) believe that
companies have the same responsibility as governments to generate positive social impact.
(PROSUMER REPORT - HAVAS WORLDWIDE, NOVEMBER 2013)
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4. FEATURED INNOVATIONS: SOCIAL STORES
ParisRetailer rewards clothing donations at Santiago music festival
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4. FEATURED INNOVATIONS: SOCIAL STORES
Fenalco & Colombian Agency for ReintegrationGovernment re-integrates ex-FARC soldiers via store management program
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4. FEATURED INNOVATIONS: SOCIAL STORES
BRMalls & Social Solidarity FundEmpty pop-up store designed to receive donations in São Paulo
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How can you add social value in your community? Work with nonprofits and CIVICSUMERS to provide public services that are underprovided by the public sector.
NEXT
4. SOCIAL STORES
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Even in regions where there is an established
middle class, there are always VIRGIN CONSUMERS
who are moving into new income bands (from low
to medium or even medium to high income) and
trying out new products or services.
That means a multitude of consumers who yearn
for guidance and advice when it comes to products
and services. One future for customer service in the
region, then? Retailers who don’t just preach about
the benefits of their wares, but instead teach how
to maximize value from them. In the process, they
offer education on associated areas: from culinary
skills to financial management and more.
Don’t preach, teach.
5. EDU-COMMERCE
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South & Central America includes six out of the top 10 countries where consumers say they are more willing to buy
products and services from companies that support education:Colombia 90%, Brazil & Venezuela 88%, Peru 87%, Chile 83%.
(NIELSEN, SEPTEMBER 2013)
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5. FEATURED INNOVATIONS: EDU-COMMERCE
InterbankLima bank includes social learning areas
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5. FEATURED INNOVATIONS: EDU-COMMERCE
Magazine LuizaRetailer provides classes and hosts events in São Paulo
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How can you enhance consumers’ knowledge and skills AND introduce them to your product or service at the same time? Get the balance right and you’ll create an unmissable experience.
EDU-COMMERCE
NEXT
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MOVING MERCHANTS: Listen to where consumers
are – and go there!
OK COMMUTER: Offer new points of sale that
capture the attention of consumers on-the-go.
OFF=ON=OFF: Weave the digital and physical
together to create new kinds of retail experiences.
SOCIAL STORES: Drive positive change in local
communities – think partnerships with consumers
and nonprofits.
EDU-COMMERCE: Teach consumers about your
offering and enhance desired skills and knowledge,
too.
Just a quick recap ;)
Ready to start RETELLING your RETAIL story?
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