Today’s consumer is busy, time crunched and overwhelmed with choices. The Food Marketing Institute reports that the average supermarket carries over 42,000 items. And that’s just in the food space. Now add in convenience stores, department stores, big box stores, boutiques and more and you can see why consumers are overwhelmed with the myriad of choices.
So to meet the needs of this new consumer, many companies are figuring out how to offer a unique set of products that are “curated.” What?????
Yes, curated. The new buzz word for shopping behavior in modern culture. You see curated is no longer just for artwork and museums. Curated is now for everyone and everything. That’s right, everything from food to jewelry, clothing and decor are being curated in real life brick and mortar locations and subscription box services.
Today’s consumer still shops at big box stores and buys staples like milk and butter and toothpaste, but today’s consumer also expects more. Today’s consumer wants a wow factor that delivers cool products. Those products might be unique, limited edition, have a story to tell, support a worthy cause, be sustainable or just fit their lifestyle while offering convenience and value.
Curated comes in many forms from many companies. Target has offered special limited edition apparel from designers including Marimekko and Lilly Pulitzer and Whole Foods 365 Market touts the fact that they’ve partnered with like-minded companies to bring a mix of thoughtfully curated foods to their consumers.
Where we really see curated come into play is in box subscription services that are proliferating. Meal services Blue Apron and Hello Fresh are just two of dozens. And of course snack boxes like NatureBox, Graze and Love With Food are just a couple. But the consumers desire for curated goods doesn’t end at food. They subscribe to curated boxes like Bark Box for their dogs, StitchFix for their wardrobe needs and Bauble Box for their jewelry accessories. And even décor is getting into the mix with companies like Dot & Bo, and One Kings Lane offering designer goods, limited inventories and flash sales to entice consumers.
And for consumers, value isn’t always about price. As consumers hand over their hard earned cash for these subscription boxes, they are proving that they are willing to pay for someone else to do the hard work. Consumers find value not just in the convenience of the whole package but the many save steps it represents. Someone researched and assembled interesting products, often times selected based on personal preferences. They are part of a semi-elite club receiving products and content that not everyone has access too. Someone else did the hard work of finding these products so they did not have to spend hours in a store wandering around looking for cool stuff. The list goes on and on.
The point is – today’s consumer culture is shifting. As they seek out local vendors, craft brewers, artisanal cheeses, and curated products they are showing us that less is more. Today’s consumer is driven by experiences and Instagrammable moments.
You need to start asking yourself have you built a curated brand or can I deliver a curated experience?
