Ford Social: The Retail Revolution

Trend reports, part II: Ford Social has released their latest annual trend report. People would rather look up to good citizens in their neighbourhood than political or civic leaders. Mindfulness is becoming a mainstream phenomenon. (or are you telling us you’re not using the Buddhify app yet?) The flexible economy is here.

However, what’s most interesting to us is the latest trend in retail (Ford calls it the “Retail Revolution”):

“Retail is no longer simply about product, it’s about experience – and retailers are finding new ways to inspire meaningful connection with consumers.” In an interview with Fast Company, Ford’s Futurist Sheryl Connelly says: “The product almost became an artifact of the experience.” Apparently, 81% of European shoppers say they will pay higher prices for items in exchange for a better in-store experience.

Cover photo: Joe Ross/FlickrCC