Industry Insights & Trends
2010 Color of the Year
Pantone LLC, the global authority on color and provider of professional color standards for the design industries, announced PANTONE 15-5519 Turquoise, an inviting, luminous hue, as the color of the year for 2010.
Wooing consumers
Better consumer experiences do more than attract shoppers to a product—they draw people into relationship with a brand or retailer. Companies that are successful in creating innovative and compelling experiences are committed to developing a deep understanding of not only what consumers are looking for, but why and how—and to delivering on that promise.
Simple reigns
Simplicity is a shopper’s best friend. Retail environments and brands that offer intuitive, relevant and enjoyable shopping experiences make it easier for complexity-weary consumers to find, like and buy what they need and want.
Woman's world
With women making or influencing more than 85% of all consumer purchasing decisions, smart retailers and brands are giving them—and ultimately all shoppers—what they want: more product information, exceptional customer service, high value, abundant options, and clear ways to navigate those many choices.
Hands-on consumers
Shoppers who touch a product are more likely to perceive that they own it... which makes them more likely to buy it. Encouraging touch in retail environments can help increase consumers' feelings of ownership, and the amount they are willing to pay for products. (Journal of Consumer Research)
Buying power
Demographic and economic shifts are driving retailers to understand generational, geographic, style, size and personal needs of diverse consumer bases in order to tap into their considerable buying power. (FastCompany)
Shopping with benefits
Consumers love getting more for... free. In today's retail landscape, giving away perks to shoppers is one tool retailers are employing to try to beat the financial turmoil. Shopping bonuses help increase consumer perception of the value they're getting and are seen as effective at keeping shoppers coming back. (Trendwatching.com)
Connecting connected consumers
Generation Y consumers are particularly drawn to products that help define and broadcast who they are. Shopping experiences and products that are or can be customized to express individuality help create loyal customers willing to spend more for that personal touch. (Trendwatching.com)
Retail experiments
Retailers and designers experimenting with temporary—or "pop-up"—shops are helping to re-energize bricks-and-mortar shopping. The temporary experience creates a buzz and an exclusive feel for consumers with short attention spans. (Trendwatching.com)
Employee matters
In a recent study, 90% of retail winners (those with above-average store sales growth year-over-year) said that their top opportunity for improving the in-store experience for consumers is through technology to empower and educate in-store employees. (Retail Systems Research)
Shopping technology
Consumers are increasingly comfortable with technology as part of the shopping experience, as their adoption and continued use of self-checkout demonstrates. (Retail Systems Research)
Turning off the tube
Research shows that more advertisers believe the effectiveness of TV advertising is declining and are very actively looking for alternatives, including a greater focus on point-of-purchase marketing. (Forrester Network)
P-O-P marketing
Recent surveys show that as an alternative to traditional advertising, 50% of retailers rated in-store advertising’s overall effectiveness as excellent or very good, and 54% would increase their in-store budget at the expense of TV. (Forrester Network)
In-store media
As more stores continue to integrate interactive technologies, the lines between physical and online retail will blur. New technologies are helping advertisers and retailers build customer relationships and get people to stay in stores longer... giving them more time to buy more. (AdvertisingAge)
Mobile sounds
Recorded music is at the forefront of the online and mobile revolution, generating more revenue in percentage terms through digital platforms than the newspaper (4%), magazine (1%) and film industries (4%) combined. (IFPI)
Valuing leisure time
Good for professionals: 34% of Americans say they come back from vacation and leisure time feeling better about their jobs and are even more productive. (Expedia.com)
Living virtually
Consumers are planning to live forever… online. Virtual cemeteries and web memorials are springing up as ways to preserve a person’s online self even after he or she has departed for the hereafter. (Discover Magazine)
Going green
Many homeowners this year will update their homes by taking on do-it-yourself projects using green, environmentally friendly materials. (JWT)
Energy efficiency
About 46% of homeowners express interest in green or energy-efficient solutions. (ServiceMagic.com)
Home remodeling
About 66% of new homeowners undertake at least one home remodeling project. Painting and flooring are the major remodeling activities, with kitchens, baths and bedrooms the most popular targets for projects. (Home Improvement Research Institute)