Priorities of the modern consumer have shifted to make kindness and empathy the key to sustained market growth and consumer trust and loyalty. The Millennial generation is the largest in history and has unprecedented buying power. This younger consumer group has a different set of values than the generations before them; they want a job that they are passionate about and they view their consumer choices as a mechanism to support movements and make change. Their concept of identity is intertwined with consumerism, where buying products and supporting brands is a form of self-affirmation.
As brands try to capture the attention of consumers, there has been a shift from brands seeking engagement, to having to earn public approval. Making quality products or supplying quality services is no longer enough, brands need to benefit society. Successful brands of the future must be virtuous. And the most successful retail brands will have virtuous store experiences.
What do we mean by virtuous?
Virtuous is conforming to moral and ethical principles. Virtuous brands do good things because it is an extension of their brand DNA. There is no playbook for what is considered virtuous. Truly virtuous brands act because they feel it is the right thing to do, irrespective of judgements or profits.
Why do we need virtuous brands?
We need brands to be virtuous because brands have power and wield influence. Today, brands are replacing politics and religion as moral pillars that we trust and seek guidance from. Global brands can wield their power to make large scale change. Brands have the ability to take a stance, but they also tell stories and engage us in the process.
Bu hikaye Visual Merchandising and Retail Design dergisinin January 2021 sayısından alınmıştır.
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Bu hikaye Visual Merchandising and Retail Design dergisinin January 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Retail @ Small Town India: Way To Go?
Even as markets get re-adjusted to a post-Covid reality and retail brands realign their business strategies to shifting market dynamics, India’s tier2-3-4…markets might just be what the retail economy needs to get back on growth track.
Where the police go to shop - RAJKOT
Designed by IKS ARCHITECTS, the Dhiraj Police Store in Rajkot, Gujarat, has been conceptualised to craft a unique retail experience. Located in an urban dense fabric on the ground floor of a commercial building near the old city, the government licensed store is designed to serve the police force and associated dignitaries.
For the love of Laminates… SURAT
The EightxFour Experience Centre by Shivshakti Laminates is an experience centre of a leading laminate and veneer retailer of Surat, created in an erstwhile textile manufacturing unit. Designed by Utopia Designs, the centre’s design focuses on effective display strategies, both tried-and-tested and new, within an industrial vocabulary.
Tyre retailing takes experiential route with Bridgestone Select +
Bridgestone India, one of the leading brands in the passenger car tyre segment, recently launched the country’s first concept store in Pune. Designed by LANDOR & FITCH, the store offers an educative tyre buying and service experience, while redefining the whole retail experience in the category .
Rustic elegance
Spread across 3000 sq.ft. Calipso Beauty Salon in Indore is a sustainable implementation of functionality in a contemporary setting. Designed by Jagjeet Tuteja Design Studio, the design philosophy of the space creates resonance with the brand ethos.
Royal, traditional & chic
Sunita Shekhawat, a signature jewelry brand from Jaipur that focuses on the traditional practice of ‘Meenakari’, draws on a contemporary sensibility for its new boutique in Delhi, designed by 42MM Architecture.
‘Retail design solutions have to tell richer stories, create bolder experiences'
As we gradually move past the uncertainties of 2020, it’s becoming more evident than ever that any brand not leveraging technology will be left behind. At the same time, consumer expectations are at their highest, which is forcing retailers to make operational changes quicker and make wiser, solutions-driven investments, based on lessons learnt in the past. In an exclusive interview with VM&RD, Akhil Jain, Executive Director, Madame, talks about some key takeaways for retail from 2020, their focus areas of investment for 2021, on how retail partners can meet new business expectations, and more.
Small town India will spur organized retail growth
Value fashion and lifestyle products retailer V-Mart Retail recently opened four new stores, three in Uttar Pradesh and one in Jharkhand. As part of its expansion plans, the retail brand continues to target the under-served tier-2 and 3 markets and plans to scale up its outlets in the next fiscal. In a special interaction with VM&RD, Vineet Jain, COO, V-Mart Retail Ltd, shares his views on why retailers are flocking to tier II, III towns, on the key game changers for Indian retail this year, and more.
Charming confluence of the classic & contemporary
Spread across 8000 square-feet, the Beyond Designs flagship store in Delhi has been designed as an amalgamation of timeless appeal and contemporary sophistication.
Why Virtue Is The New Cool!
Among other things, the pandemic of 2020 has necessitated the need to align businesses with values such as transparency and social responsibility. Brands that genuinely champion causes are likely to resonate better with the socially aware millennial consumers of today. Ian Johnston, Founder and Creative Director at Quinine, a world-leading retail experience consultancy known for its research-driven user-centric design approach, explains why virtuous brands have an edge today, and how retail space and experience can best reflect a brand’s values and virtues.
