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13 New Profit Opportunities for Retailers

Cynthia R. Cohen, President of Miami-based consultancy Strategic Mindshare and an authority on consumer trends and strategic marketing, listed 13 profit opportunities for retailers and consumer product companies. Calling them as “trendfluences,” these are major trends with significant influence on consumer spending and buying behavior

1. Brand dominance
2. Convergence of retail, entertainment and publishing
3. Content is king
4. Individualism is embraced
5. Mega Growth of Microsports and Hobbies
6. Dedication to Health, Age Minimizing, and Life Enhancing Practices
7. Home Living Spaces are Reallocated
8. Consumers Become Wireless and Stores Become Wired
9. Turbo-Scheduling is Adopted
10. Cravings for Community and One to One Interaction
11. Retail Becomes Experiential
12. Hispanic and Global Influx of Influence
13. Generational Divide

I have pointed to some of the above in a recent article I wrote entitled Profit from 5 Growing Niches for Your Home Business , and some of them are really old (e.g. “content is king” is a concept that’s been around since the Net started) but she has some additional insights that may prove useful to your business.

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