The emergence of new business models and practices are transforming the industry from mass merchandising to customized products and personalized experiences.
A quickly changing world is creating new opportunities for the Home & Lifestyle industry. Companies are thinking differently about the products and services they offer. New ideas such as the sharing economy, app-based services, and smart devices are changing how we sell. This means different consumer and product journeys.
This new world is dynamic, requiring Home & Lifestyle companies to transform their practices and adopt new ways of thinking about products, services, and their supply chain implying the growing power of platforms. The focus will be creating a consumer-driven economy that creates a personalized, connected, experience unique to each individual through a unified and collaborative platform.
Proactively address competitive pressure with start-up thinking
Anticipate new business models from buying to subscription, from ownership to sharing…
Deliver technically advanced, consumer-driven solutions that connect people, devices, and their environment
Expand into new markets by utilizing business collaborations and disruptive technologies
Competing in the new market means thinking differently about traditional business models. This might mean looking at selling daily life products/fashion products, for instance, on a subscription basis rather than a traditional, individually-based selling model: we need to adapt to new consumer journeys. It might also mean moving from a large-footprint retail store to an e-commerce model. This approach will allow companies to be part of the environment of personal experience; an environment where products, brands and retailers, all work together to delight and simplify the life of every consumer.
Your business creates solutions that make life better for consumers. This requires innovation, and it's a process that never stops pushing boundaries. But, the reality is that many businesses face constraints in delivering innovative products that satisfy the mass market. If you're one of them, we have good news: the constraints can be managed better, allowing you to innovate easier and faster.