Unveiling the Future Consumer: Key Trends Shaping Retail’s Horizon

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on August 19, 2024

As the retail landscape continues to evolve at breakneck speed, industry leaders are anticipating FUTR North America, set to take place on September 5 in New York. The event, which is being produced in partnership with brands like Amazon and Tinuiti, promises to shed light on the emerging trends that will define the future of consumer behavior. 

“We have labeled 2026 as the year of redirection,” says WGSN CEO Carla Buzasi, who will unveil the company’s 2026 Future Consumer forecast at the event. “A year when people will redirect their attention to find collective solutions to complex challenges. Consumers will long for the certainty of the past while embracing a fast-changing future and will be looking for a steady path to personal fulfillment rather than a sprint to picture-perfect happiness.”

For a sneak peek at some of the key trends that are poised to reshape the retail sector in the coming years, I sat down with many of the speakers. Here’s what retailers can expect.

1. The Rise of Recommerce, Resale, and Rental

In 2023, the recommerce market in the United States was worth an estimated 188 billion U.S. dollars, an increase from nearly 140 billion in 2020. That growth is poised to continue, with a forecast of nearly 276 billion dollars by 2028. Even more impressively, according to ThredUp’s 2024 resale report, the global secondhand apparel market is projected to reach $350 billion by 2028.

“The emergent ‘Buy for life’ economy is driven by a desire for permanence alongside concerns for the environment and the cost-of-living crisis,” says Nathan Watts, Head of Consumer at Conran Design Group. “Economic hardship and resource scarcity are ushering in a quest for utility and longevity — encouraging brands to re-think post-sale profits and reposition sustainability as a consumer preference shift from ‘zero-harm’ to ‘positive impact’.”

Emerging technology is poised to exacerbate the trend, according to James Reinhart, CEO of ThreadUp. 

“We’re witnessing firsthand how technology, particularly AI, is becoming essential to navigate this complex landscape,” says Reinhart. “AI is not just powering the user experience, it’s helping us understand the evolving nuances of consumer behavior, optimize pricing, and predict future trends in order to help round out our marketplace. As the circular economy expands, AI will be the linchpin for retailers seeking to capture the immense potential of recommerce while ensuring a seamless experience for shoppers.”

Retailers are smart to prepare for the expansion of resale platforms within traditional retail spaces, integration of rental options for high-end and occasional-use items, and development of recommerce strategies that capitalize on technology to capture value from pre-owned goods.

2. Social Commerce

This year, there will be an estimated 110.4 million US social buyers. US social commerce sales are projected to claim 6.6% of total ecommerce sales this year, with an upward forecast into the future. These trends foreshadow the adoption of new technologies that will create more efficiency and better experiences in social commerce.

While livestream shopping has undergone considerable growth in the last few years, with platforms like TalkShopLive gaining ground, we’re likely to see an increase in real-time shoppable experiences and the platforms that serve them up.

“Livestream shopping brings so much life to the e-commerce experience for shoppers,” says Marisa Runyan, Director of Creative Content and Production at SHEIN. “By continuing to invest in this medium, we not only connect more intimately with our customer base and audience, but we also showcase our products while answering customers’ questions in real time. Livestream is picking up where the brick-and-mortar retail experience has left off — providing a more personalized shopping experience that’s so much more engaging than simply scrolling a product page.”

Increasing the ease and availability of transacting on social media will be another area of focus. 

“Consumers are increasingly expecting all content and ads to be transactable, signaling a dramatic shift in the future of shopping,” says Nick Morgan, Founder & CEO of Vudoo. “As content transforms into shoppable experiences across the open web, the rise of commerce enabled content and ads will significantly impact brands, publishers, and consumers.”

3. Unified Brand Experiences Across Physical and Digital Realms

While omnichannel marketing is not a new trend, new pressures on the retail landscape are changing the face of digital and physical integration. The double-edged sword of rapid technological advancement is that consumers begin to expect the conveniences afforded to them through its integration, which increases the competitive climate.

“The next-gen consumer demands authentic educational content throughout the shopping journey, “says Vincent Yang, CEO of Firework. “[This necessitates] a seamless shopping experience across e-commerce stores, physical stores, social media, and all other channels.”

Smart retailers are focused on integrating emerging technologies like generative AI into cross-platform strategies, ensuring access to meaningful data to inform cohesive strategies and inform large language models, and exploring new takes on traditional touchpoints like OOH. 

4. Resonant Brand Experiences

In an era of information overload, consumers are seeking meaningful connections with brands. Retailers can tap into these connections by seeking cultural fluency through a deep understanding of current events and emerging trends.

“One key consumer profile group are the Gleamers,” says Buzasi. “Burnout has left this cohort yearning for a simpler life and has them redefining what community, care, and fulfillment look like. This group will reinvent the concept of milestones by focusing on personal achievements and everyday joys rather than traditional benchmarks. Glimmers which are micro-moments of joy, contentment, or surprise, become a prized coping tool and provide an amazing opportunity for brands to connect with consumers by creating moments of happiness.”

Nathan Watts from Conran Design Group adds: “As circularity evolves from luxury of thought to necessary purchase prerequisite, brands must offer more than just ‘ownership’ by positioning products as something customers will live in and with, rather than merely consume. To resonate more deeply with modern consumers, brands must learn to effectively share the stories behind products and create a stronger and more authentic emotional connection. What we are seeing is a return to an aspect of consumerism that lies not in mere acquisition, but in meaningful engagement with products that stand the test of time and purpose.”

As we approach FUTR North America, these trends offer a glimpse into the future of retail. By staying ahead of these shifts, retailers can position themselves to meet the evolving needs of the future consumer, ensuring their relevance and success in an increasingly competitive marketplace.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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