The Future of Shopping from the World Economic Forum:
The HelpFirst Answer:
- When quality and price are equivalent, social purpose is the number one deciding factor for shoppers globally.
- When choosing between two brands of equal quality and price, 90% of U.S. shoppers are likely to switch to a cause branded product.
- 42% of North American shoppers would pay extra for products and services from companies committed to positive social and environmental impact.
- 88% of Americans want to hear about businesses’ social responsibility and the most preferred place to hear about these efforts is on the product’s packaging or label.
- 84% say they seek out responsible products whenever possible.
- 55% would pay extra for products and services from companies committed to positive social and environmental impact.
- 81% would donate to a charity supported by a company they trust, if given the opportunity; 70 percent say they have already made a donation in the past year.
- 62% percent say they already have purchased a cause-related product in the past year.
Over the next 10 years, the World Economic Forum estimates $2.95 Trillion in new market value will be created through e-commerce and the four emerging business models; – 1) The Sharing Economy, 2) Smart Replenishment 3) Curated Subscription 4) and Personalization Services.
In 2016 the U.S. Consumer Packaged Goods Industry reached $407.2 Billion of the $8 Trillion global CPG Market, while U.S. Retail sales hit $5.254 Trillion of the $22.6 Trillion global market.
-The global (CPG) sector will nearly double in size to $14 TRILLION by 2025.
-The global retail sector will grow to $28 Trillion by 2019.
MOST CPG & RETAIL COMPANIES LACK THE INFRASTRUCTURE TO CONNECT WITH THE MODERN CONSUMER
Market power will flow to consumer goods manufacturers and retailers that have the most direct relationships with the end customer, the strongest presence in retail channels of all types, and can leverage the transformative power of emerging technologies to innovate and create new economic value while improving the daily lives of their consumers.
How we capitalize on the $2.95 Trillion Emerging Market
Vision – The Future
Over the next 10 years, technology will transform how we live, work, shop, and relate to one another. Transformative technologies like Artificial Intelligence and Robotics will assume the majority of our physical work and routine tasks. Digital devices and sensors throughout our homes, appliances, clothing, and products will connect everything to the Internet of Things (IOT) automating the majority of our purchases while Drones and Autonomous Vehicles will enable automatic replenishment through instantaneous delivery.
Consumers will have an exponential amount of control and choice in every step of the purchasing process. The digitization of data and the new normal of Hyper-connectivity will personalize the consumer experience in every way.
The digital transformation will have a negative impact on the retail workforce, the environment and communities that will need to be mitigated regarding job loss and retraining, as well as the repurposing of retail space. Responsible, responsive leadership and collaborative action through public-private partnerships will be vital. This is why we are structured as a Public Benefit Corporation, to facilitate these vital connections.
Trust – Transparency
As consumers gain more choice and greater control of the consumption process, we’ll be presented with a vast array of products and services that are personalized to our specific needs and wants. Consumers will continue to demand transparency in price and quality with greater convenience, while shopping will become less a chore and more about choice and personalization.
The game-changing technologies which will fundamentally change how retail and consumer brands connect and do business with the modern consumer will change vastly over the coming decade. At HelpFirst, we not only intend to be a part of this transformation, we intend to lead it.
The HelpFirst Business Model
Companies too often treat people like they’re problems and not the reason they’re in business. Nothing infuriates me more than poor service, other than poor quality. Whatever you are, be a good one. Far too often this is forgotten. In markets with razor thin profits to begin with, folks treat customers as if courtesy is a luxury; well it isn’t, and we’ll not tolerate sub par products or services on the HelpFirst platform.
If several of our users flag a platform business, we will pull the business listing until we can investigate and resolve the issue. When we say quality connections, We mean to guarantee it.
From the blog
The Empowered Consumer and Community Conscious Consumption.
Humanity is getting a whole new set of tools
We have the opportunity to make the new market work for all of us
Market Power will flow to Impact Driven Companies
Over the next 10 years, technology will transform how we live, work, shop, and relate to one another.
Transparency is in our DNA
Difficult problems require understanding, cooperation, communication, hard work, and most importantly; Education.
Impact Driven Commerce