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.

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trendwatching.com's RETAIL RETOLD

  1. 1. RETAIL RETOLD Why consumers are embracing these five ways to retell the retail story in Latin America. SOUTH & CENTRAL AMERICA TREND BULLETIN MAY 2014
  2. 2. 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. RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 2
  3. 3. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 3
  4. 4. RETAIL RETOLD RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 4
  5. 5. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 5
  6. 6. In 2013, 19% of Mexicans ate at a food truck at least once. (AGENCY DE LA RIVA GROUP, NOVEMBER 2013) RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 6
  7. 7. 1. FEATURED INNOVATIONS: MOVING MERCHANTS Botánicus Refurbished truck sells flowers around Bogotá RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 7
  8. 8. 1. FEATURED INNOVATIONS: MOVING MERCHANTS Nail Delivery Manicure service comes to homes & offices in Brazil RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 8
  9. 9. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 9
  10. 10. We obviously offer much more than monthly Trend Bulletin’s... Your complete trend and innovation solution. Introducing our 2014 Premium Service Find out more 2014 Trend Report Trend Framework Innovation Database Industry Updates Apply Toolkit Monthly Updates 1-page Trend Handouts 1 2 3 4 5 6 7
  11. 11. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 11
  12. 12. 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) RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 12
  13. 13. 2. FEATURED INNOVATIONS: OK COMMUTER Los Paleteros Mexican paletas via drive-thru RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 13
  14. 14. 2. FEATURED INNOVATIONS: OK COMMUTER Beauty Bazar Beauty in Brazilian subways RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 14
  15. 15. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 15
  16. 16. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 16
  17. 17. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 17
  18. 18. 3. FEATURED INNOVATIONS: OFF=ON=OFF iLoveMall E-commerce ‘mall’ mimics physical shopping experience in Brazil RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 18
  19. 19. 3. FEATURED INNOVATIONS: OFF=ON=OFF Sodimac: Lector de Catálogos App provides augmented reality renderings of Chilean catalog’s products RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 19
  20. 20. 3. FEATURED INNOVATIONS: OFF=ON=OFF Leica & Arco Camera purchasable for Brazilians via Instagram RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 20
  21. 21. 3. FEATURED INNOVATIONS: OFF=ON=OFF Sonae Sierra Shopping malls use WhatsApp as customer service channel RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 21
  22. 22. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 22
  23. 23. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 23
  24. 24. 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) RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 24
  25. 25. 4. FEATURED INNOVATIONS: SOCIAL STORES Paris Retailer rewards clothing donations at Santiago music festival RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 25
  26. 26. 4. FEATURED INNOVATIONS: SOCIAL STORES Fenalco & Colombian Agency for Reintegration Government re-integrates ex-FARC soldiers via store management program RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 26
  27. 27. 4. FEATURED INNOVATIONS: SOCIAL STORES BRMalls & Social Solidarity Fund Empty pop-up store designed to receive donations in São Paulo RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 27
  28. 28. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 28
  29. 29. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 29
  30. 30. 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) RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 30
  31. 31. 5. FEATURED INNOVATIONS: EDU-COMMERCE Interbank Lima bank includes social learning areas RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 31
  32. 32. 5. FEATURED INNOVATIONS: EDU-COMMERCE Magazine Luiza Retailer provides classes and hosts events in São Paulo RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 32
  33. 33. 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 RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 33
  34. 34. 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? RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 34
  35. 35. RETAIL RETOLDwww.trendwatching.com/trends/retail-retold 35
  36. 36. 1. Our 2014 Premium ServiceOur free South & Central America Bulletins 2. Subscribe to our South & Central America Bulletins here. SUBSCRIBE ME » MORE... If you have any comments, suggestions or questions then please do let us know. Just email: Nathalia Souto Senior Client Services Manager nathalia@trendwatching.com About us Established in 2002, trendwatching.com is the world’s leading trend firm, scanning the globe for the most promising consumer trends, insights and related hands-on business ideas. Our Premium Service counts many of the world’s leading brands as clients, while our free monthly Trend Briefings go out to over 250,000 subscribers in 180 countries. More at www.trendwatching.com Should you be one of our 1,200+ Premium clients? See how Premium will benefit you Now... Enjoyed this Trend Briefing? Want more?

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