Key Shifts in Retail | Part 1: People Power
Key Shifts in Retail | People Power: from Brand Authority to Consumer Influence
The holiday season is all about celebrating customs and rituals, but the cultural landscapes of the retail sector are anything but traditional – they’re shifting as we write. Over the next few weeks, Canopy will be digging into key changes in retail, shopping and gifting to help brands get ready for the holiday season.
People Power: from Brand Authority to Consumer Influence
At the moment, a brand’s value, reputation and cultural identity determines the value of its products and/or services. Being a “premium” brand has usually been associated with higher quality and reliability, whilst mass market brands frame themselves as authorities on accessibility and functionality.
However, the rise of direct-to-consumer trade and the ease of providing and accessing online feedback means that shoppers themselves have a greater influence. As a result, the value of products and services, are being determined by consumers more democratically and collaboratively.
Brands that are adapting to this are placing the end users of their products at the center of their retail offer, enabling them to aid in the design of the product or service they will go on to buy.