Connected Consumer in Retail and Apparel – Thematic Intelligence

Connected Consumer in Retail and Apparel Thematic Overview

The connected consumer has been created as a direct result of other themes within the retail and apparel sectors. For instance, the Internet of Things (IoT) has transformed the way that retailers and consumers interact. It has allowed retailers to track previously untraceable behaviors, such as tracking coffee replenishment needs through a Bluetooth-connected coffee machine to a retailer’s app. This has raised the bar for the connectivity that consumers expect from retailers and their products but has also increased expectations in terms of the trust, retailers need to build with consumers to let them into their lives in this way.

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The ‘Connected Consumer in Retail and Apparel’ thematic intelligence report gives you an in-depth insight into the connected consumer theme and the impact it will have on the retail and apparel industry. It provides a comprehensive analysis of the industry, including real-life case studies that showcase how the retailers have responded to the impact of this theme in their operations. The report analyzes the value chain components of the theme and the market trends that will shape the theme in the coming years. It also provides insights into the key players and the competitive landscape of retail & apparel companies within the connected consumer theme.

Connected Consumer in Retail and Apparel – Key Market Trends

The main trends that will shape the Connected Consumer theme over the next 12 to 24 months can be classified into technology trends, macroeconomic trends, regulatory trends, and retail trends.

Retail trends: Trust and transparency, passive and active connected consumers, influencer marketing, personalization, and user-generated content (UGC), are the key retail trends impacting the connected consumer theme.

Technology trends: The adoption of technology trends such as the Internet of things (IoT), apps, generative AI, and data management will impact the connected consumer theme in the retail and apparel industry in the coming months.

Macroeconomic trends: Inflation affects purchasing power and consumer behavior, which is crucial to consider when discussing the connected consumer theme. Rising inflation is the key macroeconomic trend impacting the connected consumer theme.

Regulatory trends: Advertising Standards Agency (ASA) and Competition and Markets Authority (CMA) guidelines and laws as well as regulations are the key regulatory trends impacting the connected consumer theme.

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Connected Consumer in Retail and Apparel – Industry Analysis

Connected consumer finds application in various industries including apparel, food & grocery, electricals, home, and health & beauty. In the apparel industry, many retailers are deploying and utilizing connected consumers who follow trends through social media more than ever before. For instance, Gymshark’s brand awareness was entirely built through partnering with fitness influencers who encouraged sales of the brand’s sportswear to the consumers they were already connected with.

Consumers are becoming more aware of the impact of food on their health through easy access to information via the Internet. Health-focused food brands are capitalizing on the health-conscious connected consumer using their devices for listening to podcasts about health, opting for health tracking apps, and following influencers for recipes as well as meal inspiration on social media. For instance, Deliciously Ella by Ella Mills has built a food business out of health-conscious connected consumers, who initially read her blog for healthy recipes.

The report also covers insights on the following:

• Timeline
• Company filing trends
• Hiring trends

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Connected Consumer – Value Chain Analysis

The value chain components for connected consumer theme are the foundation layer, tools layer, user interface layer, and experience layer.

Foundation Layer: The foundation layer sets out the primary building blocks of the metaverse, which includes semiconductors, components, connectivity, and data management. Semiconductors are needed to process, store and recieve any information within all devices used by connected consumers. Displays, cameras, sensors, lenses, and batteries are all key components of connecting consumers, particularly in the user interfaces. Connectivity is an essential segment in the value chain for the connected consumer. Servers, storage, and networking equipment makers enable the streaming of data to data centers. Data management is essential for building trust within connected consumers, as incorrect or illegal use of data and poor data management can be extremely damaging to a retailer’s reputation.

Connected Consumer Value Chain Analysis

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Connected Consumer in Retail and Apparel – Competitive Landscape

A few of the key companies making their mark within the connected consumer theme are:

Public Companies: Amazon, Apple, Boots, and Nike are a few of the leading public companies making their mark in the connected consumer theme in the retail and apparel sector.

Private Companies: Beauty Pie, Free People, and Monica Vinader are a few of the main private companies making their mark in the Connected Consumer theme in the retail and apparel sector.

Leading Companies of the Connected Consumer Theme in the Retail and Apparel Industry

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Scope

• GlobalData provides detailed insight into the theme of connected consumer, specifically focusing on its impact on the retail and apparel sectors.
• The report provides an overview of connected consumer and its components, the leading companies, the timeline of developments in connected consumer, and related industry analysis.
• The report also details the relevant trends across technology, macroeconomic, retail, and regulatory trends.

Key Highlights

• The connected consumer has been created as a direct result of other themes within the retail and apparel sectors. For instance the Internet of Things (IoT) has transformed the way that retailers and consumers interact. It has allowed retailers to track previously untrackable behaviors.
• The key to successfully capitalizing on connected consumers is how retailers collect, manage, analyze, and utilize data to connect with both existing and new customers. The more granular the data gathered on a consumer’s preferences, the better the retailer can personalize the touchpoints they have with that consumer throughout their shopping journey.
• As the connected consumer is on the rise, it is paramount that consumers trust retailers. This trust is built through transparency at every connection point the consumer has in their experience with the retailer. There can be two sides to this, as trust and transparency do not necessarily have to go hand in hand when it comes to the connected consumer.

Reasons to Buy

• Understand the important themes in 2024 and beyond, allowing you to grasp a wider view of changes in consumer behaviour and how it will impact your markets.
• Explore how emerging themes in retail are allowing industry leaders to evolve, so you can better position yourself for long-term success.
• Find an easy-to-use framework for tracking themes across all companies in all sectors.
• Know about the companies who invest in the right themes become success stories; those who miss the big themes end up as failures.