Businesses combine disparate offerings to capture diverse interests
Implications - More businesses are combining seemingly unrelated products and services to appeal to a range of customers. Contrasting combinations like laundry with coffee, bikes with clothing and food with haircare may give a business the advantage it needs in securing new, and diverse, customers -- especially in the face of fierce competitors, short attention spans and tightened purse strings.
Trend Themes
1. Combining Disparate Offerings - Businesses are combining unrelated products and services to appeal to a range of customers creating disruptive innovation opportunities.
2. Hybrid Business Models - Innovative businesses are creating hybrid models by combining two or more industries or sectors, creating new growth opportunities.
3. Café Culture - Café culture continues to influence the retail landscape as more businesses combine coffee shops with other services such as laundromats and bike shops.
Industry Implications
1. Retail - Retailers that combine practical or leisure-based experiences with other services using novel approaches can disrupt industries.
2. Hospitality - Coffee shops and food outlets that double as work or co-working spaces can offer a unique set of services that benefit customers and hospitality businesses.
3. Technology - Retailers and businesses that leverage technology in their hybrid models are likely to disrupt industries and attract tech-savvy customers.
