Friday, 24 August 2012

Recent Retail Market Trends

Trends, which are relevant to the M&S project

1. Cash-less: People use non-cash payment devices including credit card and PayPal
2.  Info-lust (Point-know-buy / Right here, right now): People desire for new information on products and want to product immediately
3.  Human brands: Business is influenced by customers and their lifestyle is reflected on product development
4. Statusphere – Status stories: All about online status, e.g. ‘Like’ in Facebook, ‘follower’ in Twitter
5. Discover and decide (F-Factor): two main moments in every purchase – discover a product or service, and decide to buy or use (fans, followers, friends’ comments are influential)
6. Customise (MIY): Make-It-Yourself and express yourself
7. Own-less: Sharing, renting and giving
8. Recommerce: Customers re-sell purchased products
9. Reward: Collecting points and receiving gifts from brands

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