Brands are launching online re-creations of shopping malls and storefronts
Trend - Amid the COVID-19 pandemic, brands are launching virtual shopping centers to recreate the traditional shopping experience online. These range from virtual street fronts to large-scale digital shopping centers and allow owners to showcase their products to a niche, virtual community.
Insight - The COVID-19 pandemic has forced many consumers to remain indoors, without the opportunity to easily acquire the goods they had access to before. Many consumers are looking for streamlined and convenient solutions to continue their previous shopping habits and are turning to brands to provide a curated selection of products to browse.
Insight - The COVID-19 pandemic has forced many consumers to remain indoors, without the opportunity to easily acquire the goods they had access to before. Many consumers are looking for streamlined and convenient solutions to continue their previous shopping habits and are turning to brands to provide a curated selection of products to browse.
Workshop Question - How can your brand leverage online communities to showcase its products or services?
Trend Themes
1. Virtual Shopping Centers - Amid the COVID-19 pandemic, brands are launching virtual shopping centers to recreate the traditional shopping experience online.
2. Virtual Reality Shopping - The use of 3D technology in virtual reality shopping malls and storefront platforms is gaining popularity among consumers.
3. E-commerce Free Trade Zones - Cities and governments are partnering to create e-commerce free trade zones, promoting the growth of online retail and offering benefits to retailers.
Industry Implications
1. Online Retail - Retailers can leverage virtual shopping centers and storefront platforms to showcase products and replicate the traditional shopping experience online.
2. Virtual Reality - The use of 3D technology in virtual reality shopping malls and storefront platforms provides disruptive innovation opportunities for retailers and technology companies.
3. International Trade - The creation of e-commerce free trade zones promotes international trade and offers benefits to retailers looking to expand their online business globally.
