On this episode of Culture Vulture Live, Dan Richardson takes a closer look at a trend we identified here at Mindshare called Extreme Exchanges. Look at any category from retail to food, travel to media, and you'll see two extremes in action, with efficiency at one end of the spectrum and immersion at the other.
Laziness is deeply ingrained in our DNA, which is good for brands! Our research shows that 51% of consumers want a trusted brand to help simplify their lives. So it's no surprise that these consumers want a streamlined shopping experience in-store.
Earlier this year, Amazon Go launched with a store that uses sensor tracking and deep learning to track shoppers through a store, removing the friction of checking out. Other retailers have invested in line-skipping convenience as well, like Walmart's "Check Out With Me" service that arms employees with mobile checkout systems so folks can skip long lines at a cash register. Starbucks has also increased efficiency through its express stores, which feature only items that can be made quickly and have employees taking orders before consumers even get to the register.
But it's not just about what is faster and easier. In a Mindshare study, 65% of consumers say that "it's extremely important to have stimulating experiences." According to Simmons, over one-third say "even when I don't purchase anything, I enjoy shopping."
In addition to its express stores, Starbucks also offers a Roastery, a small-batch "coffee theater" that encourages consumers to enjoy a multi-hour visit. There are currently two locations, in Seattle and Shanghai, with long-term plans for more than 30 locations. The Samsung 837 New York City flagship store doesn't sell products but operates as a digital playground of art-house installations. There are even Instagram-ready museums like the Museum of Ice Cream, which features colorful areas for picture snapping.
Whether it's efficiency or immersion that consumers are after, brands are stepping up and giving it to them. For marketers, it is important to identify where your brand has a right to play among consumers. Workshop what the extremes of your category could look like for new products or services.
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