Virtual marketplaces increasingly offer intangible services
Implications - Virtual marketplaces are no longer only offering tangible products, but are increasingly focusing on providing various services, both functional and aesthetic-based, for consumers to barter, purchase and engage with. This shift indicates the ever-growing entrenchment of the Internet as an alternate world–in which the same cultures, hobbies and purchasing habits of consumers that exist in reality can exist in a less controlled, personalizable environment.
Workshop Question - If your brand were to create its own virtual marketplace, what would it look like? How could it offer intangible products that still add value to its customers' lives?
Trend Themes
1. Intangible Marketplaces - Virtual marketplaces are no longer only offering tangible products, but are increasingly focusing on providing various services, both functional and aesthetic-based, for consumers to barter, purchase and engage with.
2. Augmented Reality - Augmented Reality (AR) technology is increasingly being used in virtual marketplaces to allow users to see products in a more realistic manner and make more informed purchase decisions.
3. Artificial Intelligence (AI) - Artificial Intelligence (AI) is being leveraged in the art world to help users find the perfect pieces of art for their tastes and preferences.
4. Digital Collectibles - Digital collectibles are becoming increasingly popular with consumers, who can use apps like 'Quidd' to acquire and trade limited-edition digital releases.
5. Cybersecurity - The development of specialized malware-fighting marketplaces, such as the Polyswarm Project, is revolutionizing the cybersecurity space by incentivizing experts to proactively identify new malware and develop new solutions.
6. Skill Bartering - Skill bartering marketplaces, such as 'Sharehive', provide individuals with a modern way to barter their skills for goods and services, creating a more community-focused market.
Industry Implications
1. E-commerce - Virtual marketplaces are changing the way consumers shop for products and services, so businesses must adapt to stay competitive and meet evolving consumer demands.
2. Art Market - The art market is being disrupted by AI technology, which is making it easier than ever for consumers to find the perfect pieces of art for their tastes.
3. Cybersecurity - As the threat of malware continues to grow, the development of specialized malware-fighting marketplaces is becoming increasingly important in the fight against cyber threats.
4. Technology - The development and use of cutting-edge technologies, such as AR and AI, are changing the way consumers interact with and purchase products.
5. Freelancing - The rise of skill bartering marketplaces is disrupting the traditional freelancing space, creating a more collaborative and community-focused market.
6. Gaming - Digital collectibles are becoming an increasingly popular feature in the gaming industry, creating new revenue streams and engagement opportunities for game developers and publishers.
