The latest trends in retail often appear so suddenly that it can be difficult to know where they’ve come from. To understand how this occurs, we need to take a look at some of the factors that drive these trends.
A High Profile in Popular Culture
It’s relatively easy to track some trends back to their current or recent popularity. This is often seen in the products offered rather than the overall strategies and campaigns used. However, we can also see how much-hyped technology like virtual reality and augmented reality quickly reached the retail world. They were introduced in apps and in-store fitting rooms shortly after they had gone mainstream in other aspects of our lives.
A good example in terms of specific products comes with the current popularity of Wild West clothing and accessories. Demand has been driven by the success of Western movies and TV shows like Yellowstone and Walker, as well as the introduction of cowboy core to fashion shows and mainstream media. The Wild West has long been popular anyway, as we can see in slots like Wanted Dead or a Wild. This game features classic terms like Dead Man’s Hand and Great Train Robbery to add atmosphere. With other slots such as 2 Wild 2 Die and Money Train 3, this is a theme that become as well-established in slots as in the movies.
Telling Stories on Social Media
SixDegrees was the first high-profile social media site, gaining a million users in the short time it operated at the turn of the century. It was followed by sites like Friendster and MySpace, with the focus mainly being on social interaction rather than business. This changed in 2007, with the launch of Facebook Ads giving businesses their first real opportunity to enter this area.
While took a while for advertising to enter the social media world, it’s now an important part of the industry. One way that marketing campaigns can use these platforms to their advantage is by telling stories and allowing influencers to react on their accounts to capture the imagination of their followers. This has been done in many ways, such as the Dove Self-Esteem Project and Barclaycard’s movies on a couple sharing their passions, giving users the chance to interact and share their thoughts.
Using AI to Forecast Demand and More
We’ve heard so much about artificial intelligence (AI) lately that it’s no surprise to see if appearing in the retail sector. This article by Clickworker reveals some of the strangest uses for AI so far, including fighting crime and writing songs. If we go back to 2023 we can see stories suggesting that ASOS had started using AI to forecast demand. Inventory management and route planning are among the other ways AI is currently used.
All these examples prove that the retail industry remains adept at spotting the most useful trends and finding ways to incorporate them. This should ensure that we continue to see the latest technology and ideas filtering into retail in interesting ways.
