Spring is finally here! 100% honest: this morning I had to pretend to not notice raindrops very VERY similar to snowflakes…but hey, yesterday I was lying in the park with the sun kissing my white pale face!
I love spring way more than I love Mondays, but here we are starting the week with energy, keeping up on the news of the sector and the latest trends.
Scroll down to find some interesting piece of info from past week, you know…JustInCaseYouMissedIt!
1. Brands that are testing new concepts of smart stores are going first to China, where the tech-savvy population that includes many digitally native young shoppers, makes it a key market for new tech application in brick and mortar stores.
“China is a key global testing ground for smart stores. While the practice of adding digital features and online-offline integration to stores is growing, brands that adopt them soon will still be ahead of the curve.”
https://www.l2inc.com/daily-insights/the-worlds-smart-store-capital
2. Cannabis retail is undergoing a process of destigmatization for years, today in the USA is valued around $25 billion, with professionals anticipating the industry “to generate $75 [billion] in sales by 2030.”
“From a functional ingredient to an intoxicating buzz, cannabis will reshape fast-moving consumer goods, with food, beverages, beauty, health and tobacco having the most potential for disruption.”
https://www.retaildive.com/news/the-blunt-truth-cannabis-retail-is-here/550524/
3. Fast fashion is facing a “new” competitor: a second hand and vintage market valued today more than $24 billion.
“By 2028 the used-fashion market is set to skyrocket in value to $64 billion in the U.S., while fast-fashion will only reach $44 billion. […] “Compared to the overall apparel market, resales growth has been phenomenal,” said Neil Saunders, managing director of GlobalData, in the report, which was emailed to CNBC. “As the market uniquely meets consumers’ preference for variety, value and sustainability, we expect this high growth to continue,” he added.”
4. How AI can help in understanding how a brand is perceived and what’s happening instore
Millennials and Gen-Zers are digital natives. Their lives are entirely digitally based, their conversations are online, and their first point of access to brands is via their phone. That doesn’t mean that stores are pointless; stores are actually essential in helping customers experience a brand. But the fundamental decision about which brand to choose is often made before a consumer even enters the store. That moment of truth is now almost entirely digital.
Blonde Problems 