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Is your company future fit?
1. Is your company future fit?
Trevor Hardy, CEO, The Future Laboratory
2. THEFUTURELABORATORY.COM LSNGLOBAL.COM
THE : FUTURE : LABORATORY
09 : 27 : 2017
: : SHOP.ORG
: : THE FUTURE FIT RETAILER
: Trevor Hardy, CEO, The Future Laboratory
: @trevorhardy @TheFutureLab
3. ‘Are we fit for the future? Can we provide solutions to
worldwide issues? In the future, it will be even more
vital for companies to work together with states and
NGOs to create value for societies, and business
opportunities that drive long-term, scalable value
creation’
Kati Ihamäki, vice-president of sustainable development, Finnair
4. Owned By No One by Robin Alysha Clemens, the Netherlands,
a speculative project that examines the extreme precautions people
may take in the future to protect their personal data in a culture of
surveillance
Uncertainty Ahead
There is growth, innovation and
optimism in the retail sector.
But there is still uncertainty
ahead.
Retailers are listening to
consumers’ needs without
losing their own point of view
and are meeting demands for
technology, transparency and
experience.
Adidas captured the current
zeitgeist in its latest advert
5. Official music video of Nobody Speak by DJ Shadow featuring
Run The Jewels
Systemic Distrust
Trust in governments, businesses,
church, sports bodies are at an all-
time low.
Trust in financial services
companies is down from
13% in 2015 to 8% in 2016
‘Trust in institutions is no longer
automatically granted. In today’s
world trust must be earned’
Richard Edelman, president and CEO,
Edelman
Source: Edelman
6. The Ordinary by Deciem
Honest Products
A more informed consumer is
tired of jargon and demanding
transparency.
Products in Deciem’s The
Ordinary and NIOD ranges
feature the names of the active
ingredients rather than marketing
buzzwords on the label
‘If we called this product Prevent
and Hydrate Mist we would do so
much injustice not only to the
product but also to the audience
who uses it,’
Brandon Truaxe, founder, Deciem
7. The Opaque But Still Transparent range by Freitag, Zürich
Not-so-fast Fashion
Manufacturing practices
continue to come under
scrutiny, especially with the rise
of fast fashion in emerging
markets.
If 80% of emerging markets
have clothing consumption
rates similar to those in the
Western world, by 2025 CO2
emissions will rise by 77%,
and 20% more water will be
used in garment
manufacturing than in 2015
Source: McKinsey
8. Ritual, US
Radical transparency
As digital tools make it easier to
hold brands to account, retailers
are going to great lengths to
prove their commitment to
transparency.
Multivitamin brand Ritual
shows where each ingredient
comes from and provides links
to manufacturers’ websites
ARKET has a ‘Made In’ tab
that reveals a map detailing a
product’s place of origin, the
name of the supplier and
factory involved in its
production.
9. 1913 Songjeong-yeok by Hyundai Card, South Korea
Brands have a Civic Duty
Businesses are increasingly stepping
in where governments are failing and
acting as forces for good in society;
acting as educators and enablers,
providing tools for a decentralized
economy.
Some 65% of consumers believe
that businesses bear as much
responsibility as governments for
driving social change
Source: Havas Worldwide
The potential value unlocked by
companies taking a long-term
approach could be worth nearly
$3 trillion by 2025
Source: McKinsey
10. The Body Studio at Selfridges, London
Brands educators
Retailers are responding to this
new landscape with layered
offerings and in-store activities.
Some 49% of New Yorkers and
56% of Londoners want to
learn new lifestyle and creative
skills at their favourite store
Health and wellbeing is the most
desired category, followed by
inspiring classes and expert
sessions
Source: Westfield
11. Levi’s Give Back education programme, Brooklyn
Denim brand Levi’s is
refocusing its brand around
music through a series of
education programmes in the
US and UK
The initiative includes short
courses in sound engineering,
songwriting and audio-visual
production, each created in
collaboration with a major
artist
‘We want to make a long-term
commitment – not something
where we’re in and out, but
something more consistent’
Jennifer Sey, chief marketing officer, Levi’s
12. ‘Meeting expectations at every stage in the customer
journey cannot be left to chance any more. By 2020,
customer experience will dominate as the key brand
differentiator, more than price or product’
Amit Sharma, founder, retail technology platform Narvar
13. WAH Nails, Soho
Service used to mean a sales
associate with a smile.
Now, before your customers
have even visited your store
they have probably looked up
your brand on social media,
read product reviews on
Amazon, researched your
stock availability and checked
the price against your
competitors
Customer service is becoming
a balancing act between
integrating technology and
maintaining a human element
to the experience.
14. Alibaba and HTC Vive China with shopping platform in virtual reality
New Service Stars
Retail staff must focus on the
quality of the experience
Consumers who engage with
both a brand’s website and
in-store staff spend on
average four times more
Sources: InMoment
‘Physical retail accounts for 93%
of sales today, and even with
online growing at speed, it will
account for 80% by 2025. Our
Store of the Future concept
enables staff to become ‘in-store
influencers’ rather than inventory
controllers’
Jose Neves, founder & CEO, Farfetch
15. Snapchat Spectacles campaign
The relationship between
online, social and shopping for
consumers is becoming symbiotic.
One-third of 18–24-year-olds say
they would like to purchase items
directly from Facebook, 27% want
to shop on Instagram, 20% on
Twitter, Pinterest (17%) and
Snapchat (15%)
Source: Aimia
‘Customers don’t think about
who runs the website, the mobile
business, the store business and
the franchise business. To the
customers they are all one
business’
Andrea Weiss, co-founder, retail consultancy
The O Alliance
16. Our/Vodka packaging
Global to hyper-local
As the world and brands
become more global,
consumers are craving the local
touch.
Our/Vodka is a global but local
brand consisting of local
partners that run micro-
distilleries in cities across the
world supported by the might of
Pernod Ricard.
‘Our/Vodka is not only about the
local community, but about
creating a global community of
creative entrepreneurs who
can share ideas’
Åsa Caap, CEO and founder of Our/Vodka
17. Amazon Headquarters, Seattle. Image by Graphite Design
A partnership between Amazon and
non-profit Mary’s Place, transformed
an old motel in downtown Seattle and
transformed it into a temporary
homeless shelter
The development will be used as the
Amazon’s headquarters and it has
donated around 50% of one of the
spaces to Mary’s Place
‘This unique, first-of-its-kind shelter will
remind families that they matter and
that their community wants to help
them to succeed.’
Marty Hartman, executive director of Mary’s Place.
18. ‘Consumers have embraced frictionless commerce,
which I like to call ‘thoughtless commerce’ – you
don’t need to think or make anything but the most
minimal effort between shopping, paying and
receiving your purchase’
Ryan Craver, senior vice-president emerging brands, licences and digital strategy, Lamour Group
19. Explorium retail
Brands need to consider the
physical store as a place of learning
and inspiration, even if this means
slowing the journey to purchase.
Bricks-and-mortar stores are
becoming brand embassies that
facilitate rather than dictate
consumer journeys
British luxury department store
Selfridges launches a number of
initiatives throughout the year,
curating products, hospitality and
live events according to a theme
Music Matters is the retailer’s
current festival, and features live
performances and a record shop
in-store
Music Matters by Selfridges, UK
20. South Korean eyewear brand
Gentle Monster provides a master
class in Explorium Retail.
Originally an online-only store, the
brand’s physical spaces boast
immersive and challenging
showrooms.
‘We believe inspiring spaces help
to sell products. Customers don’t
remember products when they
visit
a space, they remember the
architecture and artwork curated
within the space’
Jae Ho Bae, head of interiors, Gentle
Monster
Work in Progress by Gentle Monster
Tr
21. Power to Switch advertisement, UK Department of Energy and
Climate Change
Short-termism
Our inability to plan for the long
term is harming our present and
ruining our future.
‘America’s top killer isn’t cancer or
heart disease or smoking or obesity.
It’s our inability to overcome our own
short-term behaviour’
Ralph L Keeney, Duke University, US
In 2016, 17% of the largest 2,500
public companies in the world
changed their CEO, more than
in any of the previous 16 years
22. Cathedral Challenges
Short-termism is most problematic
when we are faced with decade-
long challenges.
“Mitigating man-made climate
change will take ‘at least until the
end of the century’
Tim Kruger, James Martin Fellow at the
Oxford Geoengineering Programme
Mars One plans to colonise the
red planet, with crews starting to
depart for one-way journeys in
2026
Roden Crater by James Turrell features skyspaces in the arizona
desert
23. ‘When there is a wind of change, we can build a
wall to protect ourselves from the storm or we can
build a windmill to let the wind blow faster so we
can benefit from the wind and be part of change’
Alber Elbaz
24. OPEN is a visual representation of The Future Laboratory’s Future
Fit Index by Pamm Hong
Future Fitness
The Future Fit Index was created
because consumers increasingly
expect a long-term view.
Businesses are dealing with the
uncertainty of accelerating sector
disruption and increasingly want
to be ahead of emerging
consumer needs
26. Future Fit Index - US Retailers
Stretch
02
Innovation
03
Agility
04
Conscious
Business
05
Thriving
Employee
s
06
Long-
Term
Planning
01
8
NUMBER OF
BUSINESSES
IN THE TOP 100
94% of consumers are likely to be loyal to a brand that offers complete transparency.
91% of Millennials say they would switch brands to one associated with a
positive cause
60% of members of Generation Z – the youngest of today’s luxury consumers – expect
brands to take a stand on causes they believe in
Go beyond ‘brand purpose’ to have real social impact
Selfridges Body Studio, a 37,000 square foot holistic fashion and accessories destination for women including seminars, debates, a Hemsley + Hemsley café and a FaceGym concession
⁃ The wellness movement and proliferation of social media has heightened our emotional awareness and brands are adapting product, curation and service in the knowledge that mood can change personal preferences
One of the more ambitious is the Quantum Project, an evolving space that changes on a 25-day turnaround
Alber Elbaz, creative director at Lanvin, receiving his award at the Elle Style Awards 2016
Note: He left Lanvin in Oct 2015
Future Fit lists consumer-facing brands operating in the UK
Luxury brands excluded because of the lack of publicly available data
Future Fit is an indicator of how well a business is positioned to take advantage of the trends that will affect us all in the next 5–10 years