Consumers are enticed by memberships that ensure VIP service
Implications - Proving that consumers are willing to spend slightly more to ensure higher quality of service and a wider range of amenities, businesses with unexpected membership requirements serve as a means to providing a heightened, customized experience. This progression speaks to the shift toward membership-based services in previously uncommon areas, as well as the function of local retail spaces as community hubs. Additionally, this can be seen as a representation of the evolving relationship between consumers and retail brands toward one that is symbiotic and collaborative.
Workshop Question - If you were to create a membership component to your brand, what would your brand's membership requirements be?
Trend Themes
1. Membership-based Services - Membership-based services are becoming more popular in a variety of industries as consumers are willing to pay extra for a customized or higher quality experience.
2. Sharing Economy - The sharing economy is expanding into new areas as consumers look for more cost-effective and flexible solutions to their needs.
3. Concierge Services - Concierge services are being introduced to make it easier for busy people to get the products and experiences they need quickly and efficiently.
Industry Implications
1. Retail - Retailers can use membership-based services and exclusive products to create a more collaborative and symbiotic relationship with their customers.
2. Entertainment - Entertainment companies can take advantage of the sharing economy to provide flexible and cost-effective solutions to their customers while still offering a high-quality experience.
3. Hospitality - Concierge services can be introduced to simplify the guest experience and provide a customized and personalized stay for hotel guests.
