VMSD - August 2013 - (Page 4)

FE FROM THE EDITOR From Cristal to Cronuts 11262 Cornell Park Drive Cincinnati, OH 45242 P: 513.421.2050 / F: 513.421.5144 vmsd@stmediagroup.com / VMSD.com Digital ubiquity is redefining consumer status. Step aside, cupcake. Make room for the Cronut. If you haven’t heard by now, this hybrid of a croissant and a doughnut has taken the bakery world by storm. Jim Whyte, senior insights analyst at Fitch (Columbus, Ohio), is all over the obsession. “New York is gripped by the Cronut fad,” the London-based retail and consumer trends expert told me, with reports of the doughy delights changing hands for up to $100 apiece. The craze recently appeared on my radar from a foodie friend’s Facebook dispatches and Instagram photos. He takes pride in oneupping other posters with his culinary finds. So what does the rise of this humble pastry have to do with retail? Plenty, Whyte says. Basically, it speaks to a change in what consumers value when it comes to status. “We’ve seen a move away from the rampant consumerism of the boom years [prior to] 2008 to a search for something more simple and meaningful. Consumers are looking beyond just accumulating possessions.” Status used to be about having the flashiest car or most expensive champagne – but in a world of “digital ubiquity” as Whyte calls it, where everything is shared instantly through social media, status is about being in the know first and, “being in the center of the circle rather than at the top of the pyramid. It’s a fundamental shift when we’re now used to just about anything being available online.” Digital ubiquity has also resulted in global consumer trends morphing at lightning speed. It means retailers and designers must be on high alert to these changes as well as flexible and footloose in translating trends into attention-grabbing, loyalty-building brands and stores. “It’s a forward-thinking approach that identifies changes quickly and ways to respond to those changes,” Whyte says. This approach is not for the faint of heart, that’s for sure, all the more reason I’m looking forward to meeting industry leaders at our International Retail Design Conference next month in Vancouver, September 17-19. From Sephora to Starbucks, we’ll hear the most successful retailers and designers share insights on understanding shopper culture, translating one’s brand, and addressing the changing needs and expectations of consumers. You can read more about IRDC on page 8. Meanwhile, I’m off to my local cupcake shop to hunt down a red velvet confection before it goes the way of fondue and the floppy disk. 4 AUGUST 2013 | vmsd.com EDITORIAL Editor-in-Chief Patricia Sheehan patricia.sheehan@stmediagroup.com Managing Editor Robin Donovan robin.donovan@stmediagroup.com Art Director Linda Watts linda.watts@stmediagroup.com Assistant Editor Carly Hagedon carly.hagedon@stmediagroup.com Editor-at-Large Steve Kaufman steve.kaufman@stmediagroup.com New York Editor Eric Feigenbaum European Editor John Ryan, London SALES Senior VP/Group Publisher U.S. / Canada Murray Kasmenn murray.kasmenn@stmediagroup.com P: 770.578.2577 Business Development Manager International Patricia Iannelli patricia.iannelli@stmediagroup.com Via G. Rossini 16, 21100 Varese, Italy P: +39.0332.240285 Publishing Assistant Christine Lewis christine.lewis@stmediagroup.com P: 770.874.7834 C O R P O R AT E President Tedd Swormstedt Senior VP Content Steve Duccilli Audience Development Director Christine Baloga Production Coordinator Mark Kissling Book Division Director Mark Kissling Reprint Information 800-925-1110, ext. 399 SUBSCRIPTION SERVICES P.O. Box 1060, Skokie, IL 60076 P: (847) 763-4938 / F: (847) 763-9030 VMSD@halldata.com http://www.VMSD.com ttp://www.stmediagroup.com/marketing/images/VMSDStatement1211.pdf http://www.vmsd.com

Table of Contents for the Digital Edition of VMSD - August 2013

VMSD - August 2013
Contents
From the Editor
Showroom
The Goods
Going the Distance
Modernity Banks on History
Whirlwind Tour
New Man in Town
VMSD Editorial Advisory Board
Ad Index
Checking Out

VMSD - August 2013