Retail Innovation Week

PSFK sent this email to their subscribers on February 26, 2024.

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Forwarded this email? for more ESIEGSY RETAIL INNOVATION \WIEEKS Newsletter RETAIL INNOVATION WEEK RESEARCHED BY PIERS FAWKES AND THE PSFK IQ TEAM. THIS WEEK CASE STUDIES, AN INVITATION TO OUR MEET UP IN NYC NEXT WEEK AND A FUTURE TREND THOUGHT PIECE. Piers Fawkes and The Prompt from PSFK Feb 26 READ IN APP THIS WEEK’S RETAIL INNOVATION CASE STUDIES A selection from the articles we’ve added to PSFK IQ last week. SWEDISH CANDY'S TIKTOK FAME DRIVES AMERICAN DEMAND The power of TikTok has introduced American consumers to Swedish candy, leading to a surge in demand and long lines at specialty stores. This trend showcases the influence of social media on global food trends and consumer preferences. Learn More MCDONALD'S ANIME COLLABORATION McDonald's caters to anime fans by bringing the fictional restaurant WcDonald's to life, a creative and diverse marketing strategy that celebrates the intersection of pop culture and fast food. Learn More McDonald's Anime Collaboration BURGER KING'S DREAM BURGER CAMPAIGN INCLUDES PLANT BASED OPTIONS Burger King's marketing twist encourages customers to create their dream Whopper for a chance to win $1 million, enhancing brand engagement and showcasing the fast-food giant's commitment to customization and customer creativity. Learn More Burger King's Campaign BRITISH FOOD UPDATE: YUM BUG RESTAURANT A pop-up restaurant in London’s Finsbury Park specializing in cricket-based dishes, including a cricket Cornish pasty, has become a permanent fixture due to its popularity. This unique dining experience challenges conventional food norms and highlights sustainable eating. Learn More Yum Bug Restaurant KROGER'S COMMITMENT TO POLLINATOR HEALTH Kroger takes a stand for sustainability by requiring fresh produce suppliers to adopt Integrated Pest Management (IPM) practices, focusing on pollinator health. This initiative represents a significant effort in the retail industry to protect biodiversity. Learn More ULÉ BY SHISEIDO: TRANSPARENCY & ECO-FRIENDLY PRACTICES Shiseido's French brand Ulé is advancing transparency and eco-friendliness in the beauty industry with a digital passport for its C-Bright serum. This initiative empowers consumers to make informed decisions and showcases Ulé's commitment to sustainability. Learn More BEYONCÉ'S NATURAL, INCLUSIVE, AND PHILANTHROPIC HAIRCARE BRAND Beyoncé's new haircare brand, Cécred, is disrupting the beauty market with its focus on natural, inclusive products and a commitment to philanthropy. This brand stands out for its dedication to creating products that cater to diverse hair types while giving back to the community. Learn More cécred IKEA INTRODUCES IN-STORE VENDING MACHINES FOR ONLINE ORDERS Ikea Amsterdam is redefining omnichannel retail by adding in-store vending machines for online order pickups, emphasizing the importance of convenience and efficiency in the customer shopping experience. Learn More Ikea Vending Machines UBER EATS LAUNCHES AUTONOMOUS FOOD DELIVERY IN TOKYO Uber Eats is set to revolutionize food delivery in Tokyo with the introduction of sidewalk delivery robots. This move towards autonomous delivery services represents a significant innovation in the food delivery sector. Learn More VENDING MACHINE: BABY ESSENTIALS ON DEMAND Two enterprising sisters have launched a pop-up vending machine in a Massachusetts mall, dubbed "Mama-mergency." It offers diapers and other baby essentials with the convenience of a button press, catering to the urgent needs of parents and caregivers. Learn More New Vending Machine for Parents Coming to Dartmouth Mall T ) LT TRl 3 STARBUCKS'S INCLUSIVE SPACES FRAMEWORK Starbucks's Inclusive Spaces Framework in the US is setting new standards for store design, focusing on accessibility and welcoming environments. This initiative reflects a broader trend towards inclusivity in retail, ensuring every customer feels valued. Learn More Starbucks Inclusive Spaces EV CHARGING STATION OFFERS PEACEFUL PARK ENVIRONMENT EFFEKT's unique electric vehicle charging station in Denmark offers more than just a place to recharge; it provides drivers with a serene park environment where they can relax and unwind, merging functionality with sustainability. Learn More EFFEKT completes modular timber-framed charging station in Sønderborg, Denmark S 7L L\e JORDAN BRAND'S NEW WORLD OF FLIGHT IN PHILLY Jordan Brand's flagship store, the Jordan World of Flight in Philadelphia, redefines luxury retail with its immersive and innovative experiences, including custom sneakers and a rooftop basketball court. This flagship store is a destination for sneaker enthusiasts and basketball fans alike. Learn More Jordan World of Flight THE MALIN: A CO-WORKING SPACE WITH HOTEL-LIKE AESTHETICS The Malin in Nashville offers a co-working space that combines high-end amenities and personalized services, catering to the city's creative professionals with a hotel-like aesthetic. This unique approach to co-working spaces highlights a trend towards luxury and personalized work environments. Learn More The Malin Co-Working Space TRIBE: A HOTEL WITH CO-WORKING-LIKE AESTHETICS TRIBE has ventured into the Italian market with a new hotel near Milan's Malpensa airport. Featuring 240 modern guest rooms, a gym, heated pool, café, bar, and co-working spaces, this hotel emphasizes modernity and convenience for travelers and locals. Learn More TRIBE Hotel Near Milan ETSY'S FOCUS ON HANDMADE & VINTAGE TO FIGHT COMPETITION Facing stiff competition from giants like Amazon, Etsy is doubling down on its unique value proposition: a marketplace for handmade and vintage items. The company's Q4 revenue growth underscores its commitment to luring discretionary spending to its distinctive offerings. Learn More - MEET US AT THE PSFK ‘AI MAKERS’ MEET UP FOR THE CREATIVE INDUSTRY PSFK and Spring Studios invite our communities to connect and discuss the practical uses of AI technology in our work. March 6th, Tribeca NYC. Everyone is welcome RSVP on LinkedIn Ulé's C-Bright Serum Digital Passport - THIS WEEK’S TREND: THE ESHIFT WORKER For the next few week’s, we’re sharing an extract from Piers Fawkes’ new 2025 trends report: Machine Thinking. In this thought piece, the PSFK and Broadmind.a founder looks at how AI can act as an extension of Self in the Workplace. The concept of eShift Workers revolves around the notion of AI 'Co-Workers’ who step in when employees go home, engaging with colleagues, customers and partners with the same warmth, skills and understanding as their human counterpart. The 'eShift Worker' isn't just another tool in our digital arsenal; it's an extension of ourselves, an AI-powered doppelgänger that learns and mirrors our unique way of working, our individual quirks, and our professional nuances. Of course, we’ve all read the news about how film and music stars are having their digital twins created so that they can keep on generating revenue after they’ve retired. Bands like K.I.S.S. and the Rolling Stones have shown interest in being immortalized with the technology. In China, influencers are leveraging similar tech to build AI digital clones for content creation, enhancing their online presence and potentially their earnings. These virtual avatars, used especially in e-commerce livestreaming and can operate non-stop, raising questions about authenticity and legal responsibility. SecondSoul is a new platform with AI technology that lets users create their own AI avatar to chat with fans anytime, anywhere. The AI clone can be shared and promoted to engage with a wider audience. But picture this alternative to media stars and online influencers: a barista crafts each coffee with a personal touch, a blend of skill and care that makes each cup special. Now, imagine the coffee-brewer’s eShift Worker that observes, learns, and replicates that same level of craftsmanship, ensuring that the espresso machine continues to deliver that unique touch, even when the barista is not there. Or consider a community support line, where empathy and patience are paramount - an AI assistant could learn from the expert and provide the same approach to care when the human is offline. But it's not just about replicating physical tasks or emotional interactions. Think of a marketer working on media planning. The eShift Worker delves into data, makes decisions, and executes plans, all while imbuing the process with the marketer's strategic thinking and creative flair. However, with such advancements come profound questions. As these digital twins work alongside us, or even in our stead, what becomes of our role? There's an intriguing yet unnerving possibility of being replaced by our own digital echoes. But perhaps, the true potential of this concept lies in harmony rather than replacement – a collaborative synergy where human creativity and AI efficiency coalesce, expanding our capabilities and redefining the boundaries of productivity. Last week, I wrote about the Ghost Shopper as a powerful AI agent representing the customer and the eShift Worker represents a future where staff are similarly empowered to deliver better, earn more and hopefully balance the worker-employee power dynamic somewhat too. Ultimately, the blending of AI into the workforce will reshape consumer expectations around service and support. Consumers will look for businesses that offer a seamless blend of human and AI interaction, where technology enhances the customer service experience without losing the personal touch. Keep subscribed to this newsletter to receive an alert regarding the publication of ‘Machine Thinking’ to PSFK’s report library - LAST WEEK’S PODCASTS The PSFK Earnings Calls podcasts use AI Agents created by our team to extract business strategies, market trends and consumer insights from investor reporting. This week we tracked the following companies: Air Canada (AC), Ford Motor Company (F), Heineken (HEINY), La-Z-Boy (LZB), NVIDIA (NVDA), Pernod Ricard (PDRDY), Rivian (RIVN), Tanger (SPG), The Home Depot (HD), Wingstop (WING), Yamaha Motor (YAMHF) Available for free on Apple Podcasts and Spotify. - READ OUR SIBLING-NEWSLETTER: PSFK WEEKLY - QUOTES OF NOTE "[The insect] is an ingredient filled with all nine essential amino acids, minerals and vitamins that is integrated with other ingredients ... crickets are bred without any use of medicine, and no antibiotics. It is a true superfood." José Francesco Cianni, co-founder of Nutrinsect vs "We don’t spend a lot of time identifying who our customer is and what they want – we know what their expectations are and work to meet those every day." Alan Buxkemper, COO, Lowe's Markets More Quotes - STAT OF NOTE Temu and Shein are currently flying 4,000 to 5,000 tons of goods across the world on a daily basis, resulting in a demand for 100 daily Boeing 777 freight flights. Source More Stats - Thanks for reading Retail Innovation Week! Subscribe for free to receive new posts. Retail Innovation Week is a newsletter published by the team behind business intelligence portal PSFK IQ. With daily content refreshed across sectors and topics and multiple AI-powered tools, we kinda think it’s the best resource for marketers, retailers, strategists and innovation folks out there. But you decide. Check PSFK IQ Out Like Comment Restack © 2024 Retail Innovation Week 358 Washington Ave, Brooklyn, NY 11238 Get the appStart writing
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