October Trend Report

October Trend Report

With the new season just starting, leaves are falling and the weather is getting colder. Now is a great time to reflect on the plethora of change around us. Here at Prepr, we continue to reflect on new tech trends in some of the most affected sectors: retail, manufacturing, mobility, education, and healthcare.

Healthcare: Treating Patients With Virtual Reality

With technology always improving and healthcare professionals striving to find new ways to help their community, many are now treating patients with virtual reality. There are many uses for virtual reality and a current trend is using virtual reality to treat anxiety and PTSD. By being able to help individuals overcome anxious and stressful situations in a safe environment through virtual reality, this has the potential to reduce the hesitancy of reaching out for help and support. 

Manufacturing: Ecosystem Partnerships

With the world coming together and trying to protect the environment, many are now the necessary actions to make a difference. A current trend in the manufacturing industry is ecosystem partnerships. According to an article published by Gartner, “by 2024, 75% of the top 20 global consumer goods companies will engage in an ecosystem partnership contributing to growth and sustainability goals”. By joining together eco-friendly packaging initiatives and emission reduction, industries are coming together to make a difference and save the environment.

Mobility: Vehicle-To-Everything Will Make Driving Safer 

Automotive experts predict that the future of mobility involves wireless technology intended to make driving safer. To make the road safer, this technology will help a vehicle detect any nearby movements and objects using a variety of innovative technological elements.

Retail: Voice Commerce

With technology improving and consumers having less time to shop in-store, many are now turning towards voice commerce for convenience. According to a Microsoft voice report, approximately 72% of individuals surveyed have performed a voice search using a digital assistant. With an increase in the number of consumers utilizing voice commerce, retail and businesses need to adapt their strategy in order to meet the needs of their current consumers’ shopping behaviours. 

Education: Virtual Reality And Augmented Reality In The Classroom

A current trend in the education industry is utilizing virtual reality and augmented reality technology in the classroom to provide students with experiential learning. By using this technology in the classroom for field trips and virtual careers fairs, students are able to learn more efficiently compared to traditional learning methods.

Food: Meal Kits

With the unprecedented challenges we continue to face in the midst of a pandemic, some are still hesitant to dine in restaurants. This, combined with a persisting issue that many face of lacking the time to cook, has meant that meal kits have continued to be a growing trend in the food industry. By ordering meal kit subscriptions, consumers can enjoy a delicious meal from the comfort of their home with a variety of options.

Hospitality & Tourism: Consumers Demand Increased COVID-19 Safety And Cleanliness

With the pandemic ongoing, many consumers believe COVID-19 safety and cleanliness should be a key priority. According to a report published by Booking.com, “Global travellers (79%) will take more precautions due to Coronavirus and will look to the travel industry to help them gear up for this new normal.” With consumers demanding an increase in safety protocols to keep them safe, many businesses are striving to reduce the spread of COVID-19 by exceeding previous cleanliness standards.

Environment: Working From Home Is Here To Stay

As we continue to adapt to new changes, working from home has been an effective sustainable trend. By allowing employees to work from home, cars on the road and office energy uses have been reduced. As a result of employees working remotely, people are reducing their carbon footprint and fossil fuel consumption has gone down as well. 

Finance: Hyper-Personalization

When it comes to banking, it is different for everyone and is not one size fits all. A current trend in the finance industry is hyper personalization. With consumers changing from one bank to another, the key reasoning is because the current bank does not meet their needs. With hyper personalization, consumers will be allowed a broader selection of choices in specific banking features and benefits. By giving customers the ability to make their own decision and be in control of designing their own suite of bank services, customers are more satisfied and the likelihood of switching banks is lowered.

Energy: Energy Storage

While in the midst of the pandemic, having access to energy is extremely important and crucial for those who work from home. To prepare for a shortage of energy, many are now looking for cost-effective ways to store energy for future uses. By being fully prepared for unexpected events, energy storage has become a current trend in the energy industry that is reliable and efficient.    

 

Read our last Trend Report here: August Trent Report

 

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