In this episode, host Matt DeWolf sits down with Jack Stratton, a Retail Trend Spotter, to discuss the evolving landscape of customer expectations and how businesses can adapt to stay ahead. But first, what exactly is a retail trend spotter? Jack breaks it down—explaining how he uses a combination of qualitative and quantitative data to identify fundamental shifts in consumer behavior that businesses can apply to their everyday operations.
Key Insights:
• Luxury Expectations of Modern Customers
Stratton identifies a major trend in today’s consumer behavior: customers are increasingly expecting luxury experiences, even if it means splurging on things they may not be able to afford. He refers to this as the polarized customer—someone who is willing to pay for premium experiences, regardless of their financial status.
• The Power of Subscription Services
Learn the key to successful subscription models and how customers are now purchasing these services both online and in-store. Jack emphasizes the importance of being available across all channels and touchpoints—the key to driving consistent, positive customer interactions.
To connect with Jack Stratton, you can find him on LinkedIn via Insider Trends: https://www.linkedin.com/company/insider-trends/