What was the last thing you rented? A film? A car? A private jet?
The Future Laboratory’s Chief Executive Officer Chris Sanderson explains that “we see less of a focus on this notion of acquisition and purchase….It goes to the heart of a trend we’re seeing in the shift of luxury towards experience, where it’s no longer about the ownership of a product, but about the enjoyment of it, even if it’s only for a short period of time; for example, I want to experience this beautiful watch, or this beautiful car, but I don’t need to tangibly own it.”
Read more here
For more insights in the world of luxury, you can purchase tickets to our Luxury Futures Forum at our Innovator rate here.
So it turns out spending money does make you happy! It all depends on how you spend it.
The Future Laboratory’s co-founder Chris Sanderson explains how brands are “ramping up the experiential nature of their flagships” as spending cash on experiences is the best way to buy satisfaction.
This has lead to a Convergence Economy with stores offering “behind -the-scenes glimpses of artisans, creating show-stopping digital elements and interactive tables, as well as providing libraries, private lounges for VIPs and even cafes. The store is becoming more than a place to shop. Now it’s all about connecting with the consumer”.
During our recent trip to Australia Chris Sanderson spoke to Nine News about Phygital retail, how retailers are combining the physical and the digital to create brand experiences that are non linear and more appealing to the consumer.
We first started talking about Phygital and Total retail in our The Dawn of the Mega-Systems macrotrend.
You can watch Chris’s piece here.
Last week Retail Week Live 2014 took place at the Hilton Hotel, Edgware Road.
Our co-founder and CEO Chris Sanderson gave a presentaion on Gen I in front of a packed audience. Chris explained how Omnichannel is dead and it’s now all about Total Retail.
See a short clip of Chris’s presentation here.
How do we predict the future? LS:N Global Editor-in-chief and Co-founder of The Future Laboratory Martin Raymond explains to Mr Oakley Smith that there is a definite method to our madness!
There is no shaking of an eight ball, no blind guesswork rather that “In essence we are really identifying new and emerging pockets of change…..We then use what we see to better inform our understanding of how the rest of us will behave, interact and consume tomorrow. Rather than forecasting, we are using these observed shifts as stepping stones that lead us into the future.” Explains Martin.
Read the full article here,.
What brands should know about the new woman consumer.
LS:N Global editor Lucie Greene talks to Jane Bainbridge from Marketing Magazine about our Athena Woman macrotrend and how “millennials have a much more equal view of gender roles.”
To understand the Athena Woman read the article here, and our macrotrend here.
Spending on the relatively cheaper American luxury brands is set to continue in China explains LS:N Global editor Lucie Greene.
“Part of the allure of luxury is a sense of exclusivity and the exotic, U.S. labels could well be where Chinese consumers turn next for newness.”
Find out why European luxury brands are losing out in China
How will we eat and drink in the future?
Chris Sanderson tells Good Food Australia about coping with an aging population, how we want to eat healthier, how sell by dates are becoming less relevant, wine will be more informal and of course “Drunch”.
Better understand the future of food and drink by reading the full article here.