Interactions Event Marketing Professionals Share Valuable Research on Modern TrendsMay 15, 2017
In April, 33 Interactions business leaders attended the first internal annual Innovation Summit. The group got together to discuss creativity, innovation and how to improve our services immediately and over the long term.
During the first day, the groups participated in six different brainstorms pertaining to various current trends. Presenters spoke about each individual trend, acquainting everyone with what is currently gaining traction in their spheres. From there, participants and presenters brainstormed on how these trends can play into future retail and experiential events, including:
- Men Behind the Cart
- Hyper Personalization
- Profit and Purpose
- Always On: On-Demand
Men Behind the Cart
Studies have shown that men are taking on a bigger role as the primary shopper of the household, reporting that 79% of men say they have at least 50% of the household responsibility for grocery shopping, and they now contribute to cooking three times more than 40 years ago. Although men are playing a much more significant role in consumerism, they are underserved in the shopper segment. When choosing a retailer, they look for convenience, details and quality.
Consumers are taking pride in and celebrating the ways they define themselves. The use of data to provide more personalized and targeted products, services and content is called “hyper-personalization.” From meal kits to self-serve and ‘create your own’, innovative companies are realizing that shoppers think of themselves as unique individuals and consumers, younger generations especially, expect to be communicated to and engaged with in a personalized way.
No longer just a concern of a niche group of consumers, health and wellness has gone mainstream. Products in this space range from “natural” to “non-GMO 100% certified organic.” Consumers in this space also range from casual to core users, or vary from Value to Lifestyle . What’s common across all tiers is that the consumer demand and use of natural and organic products has seen tremendous growth over the last decade and continues to trend up. A 2016 study shows that 82% of consumers purchase organic products, which is up 9% over 2014 figures.
While traditional retailers may be losing ground to digital players, the real winners in retail will be those that focus on the most basic elements of customer experience – offering great, unique services/products that consumers can’t get elsewhere. “Co-Creation” is when the customer actively contributes to the outcome, whether that outcome is a transaction or an experience, or something else entirely. In recent years, the world has witnessed a host of successful co-creation cases, such as companies like Build-A-Bear, and the Coca-Cola Freestyle Machine.
Profit and Purpose
When making purchasing decisions, consumers look for brands and companies that give back, and there is a growing awareness that what we do as individuals affects the whole planet. It is not just Millennials that hold these ideals. Fuse, a marketing company that specializes on Gen Z and Millennials, conducted a study that found that “85% of Gen Z believes that brands have an obligation to help solve global problems.” Companies are reciprocating in various ways, such as donating percentages of sales, paying for volunteer hours, going paperless, and reducing packaging.
Always On: On-Demand
By 2020, there will be an entire global generation of digital natives. Their ease of using technology, desire for connection, and expectations of ‘anytime, anywhere’ are already transforming retail. Customers are looking to companies to accommodate their desire for easy and instant gratification. In attempts to fill this need, brands are utilizing tech trends. This tech is coming in the form of mobile applications, online delivery/pick up services, and augmented and virtual reality. Today, you can find apps that can bring just about any imaginable product or service to your home. There are on-demand services for manicures, massages, gas tank refills, clothing, groceries, and much more every day.
Daymon associates found the experience at the Innovation Summit to be very beneficial. “I really enjoyed learning about the capabilities of Virtual Reality and how we can incorporate those in our future events,” said Tracy Johnson, Operations Manager at Interactions Marketing. Amy Heap, Administrative Assistant at Interactions, added that the Innovation Summit taught her that “[we need to] look at things with the wonder that a child looks at things and to remove the filters and open our minds to be open to the new ideas.”
Equipped with the knowledge learned throughout the summit, team members will be able to present new and fresh ideas to their accounts that stand out from the competition.
To learn more about Interactions Marketing, visit http://www.interactionsmarketing.com.