Global trend forecasting agency World’s Global Style Network on March 26 held the “2019 Rising Consumer Trend” seminar in Samseong, an affluent neighborhood in Gangnam, Seoul.
During the seminar, Jemma Shin, associate editor of consumer insight at WGSN, presented on new trends, particularly among Asian customers.
“It is no longer an era of e-commerce. Now it is an era of a-commerce,” Shin said. She explained that retail firms should apply new technology to provide different shopping experiences for “XR shoppers” -- a new generation of people accustomed to exploring new forms of shopping that involve virtual world experiences.
Shin added that many customers are becoming more dependent on artificial technology.
“According to a 2018 Salesforce report, 82 percent of Asian consumers would prefer to have AI recommend products to them,” Shin said. She noted Korean startup Acryl, which also partnered with LG Electronics and SK Group to develop next-generation AI products, as an example of following the trend and developing its AI service “Jonathan.”
Besides applying new tech, she added that different factors, such as individualism and increasing demands of shoppers desiring fast and always available services, should also be considered when retailers create their marketing strategy.
Established in 1998, WGSN is currently conducting business operations in 150 countries. The company last year conducted around 250 consulting projects and aims to do more than 750 this year. Furthermore, the agency recently published WGSN Beauty, which forecasts trends in the beauty sector specifically.
By Song Seung-hyun (firstname.lastname@example.org)